Chartered student organizations (CSOs) have 3 types of fund accounts:
Each CSO receives a budget from the University that is allocated by the Student Activity Fee Committee (SAFC). This budget is considered the CSO's general budget for the year. SAFC-allocated funds are in this account.
Any unspent funds (not spent during the carry-forward period) and/or excess revenue from prior years are in this account. The ability to use funds in this account is restricted to only certain cases.
If a CSO underspends its budget during the previous year, these funds will temporarily be in this account. The CSO may submit funding requests to use these unspent funds during the following fall quarter. There are restrictions to what carry-forward funds can be spent on. Any unused carry-forward funds rollover into the reserve fund account.
Registered student organizations (RSOs) have 4 types of fund accounts:
The ASG fund account is for any funding that is allocated by the Associated Student Government (ASG). ASG funding sources include $100 quarterly funding as well as discretionary funding. Funds in this account may not carry over from one quarter to another.
Any funding that an RSO raises through fundraising efforts, membership dues, and other contributions are deposited into this fund account. Funds in this account may carry over quarter to quarter (and year to year).
Any funding generated on behalf of an RSO is transferred into this fund account. Examples of these funds are monetary gifts from alumni and companies through University-sponsored fundraising. Funds in this account may carry over quarter to quarter (and year to year).
Any funding that an RSO receives from the Santa Clara Fund are deposited into this fund account. Funds in this account typically do not carry over from one quarter to another.
Each fund account can only receive funds from particular funding sources. However, the sum of funds across all fund accounts is the total balance that an RSO has to spend on events and other expenses.
No Outside Accounts
CSOs and RSOs are not permitted to have any other type of financial accounts such as bank accounts, credit union accounts, off-shore accounts, or any other accounts not affiliated with the University. All financial transactions must be made through the fund accounts described above unless prior arrangements are approved by the Director of the Center for Student Involvement.
Deposit First, Then Spend
All revenue that your student organization generates by whatever means needs to be deposited into your account first before being used as funds to pay for expenses.
For More Information
Contact: Tedd Vanadilok