​Student Organizations

Management of Funds photo

​Management of Funds

Recommended Guidelines for the Management of Student Organizations' Private Funds 

Unless otherwise approved by the Vice President for Student Affairs, all student organizations who receive a line item allocation from the Student Activity Fee are prohibited from establishing and/or maintaining an outside checking, savings, or investment account.

However, many registered student organizations at the University of Georgia receive no direct funding from the University or Student Activity Fees. These organizations raise money in a variety of ways including the collection of dues, soliciting donations, and sponsoring fun raising promotions and activities. Whereas Tate Business Services might maintain a University agency account for some of these organizations' funds, these organizations are basically private associations registered within the University of Georgia rather than functional entities of the University. Tate Business Services is not involved in the collection, deposit or maintenance of any funds beyond those in the University account. Tate Business Services does encourage any student organization having funds outside the University to follow sound business practices.

Recommended Business Practices for Student Organizations With Private Funds

  1. Student organizations should establish and maintain, at minimum, a checking account in the name of the organization. Student organizations, however, are prohibited from using the name of the University of Georgia or any reference to the University, such as UGA, as part of the oranization name. Organizational funds should not be co-mingled with the private funds of any officer or member.

  2. Prior to opening any bank account, banking regulations require that the organization apply for an maintain a Federal Employers Identification Number (FEIN), similar to a Social Security Number for an individual. It is not appropriate to use any individual's Social Security Number for the organization's banking purposes. No organization is authorized to use the University's FEIN.

  3. It is recommended that, when establishing an account, two signatures be required on checks.

  4. Financial obligations should be paid promptly. Failure to do so could result in bad credit for the organization.

  5. Deposits should be made promptly and appropriate security should be maintained over any cash or checks collected.

  6. Receipts should be issued for any money collected by the organization.

  7. It is recommened that the treasurer be required to submit monthly reports to an appropriate executive officer and/or to the advisor and that the organization's books be "closed out" and account for during the transition from one treasurer to the next.

 

Student Organization Agency Accounts

Registered student organizations are eligible to have a University agency account through Tate Business Services. An agency account is a special University account, available to officially registered student organizations which do not receive state or student activity fee funding. Income for the organization is usually genereated from dues, donations, fund raising activities, and ticket sales.

Upon making a request to establish an account Tate Business Services will prepare the necessary paperwork and route the request through established channels to the General Accounting Office. Once approved and established the Dean of Students Business Office will notify the organization advisor and/or treasurer with the new account number.

Please consider the following points where requesting an agency account:

    1. All income and expenditures are subject to audit by University and State auditors.

    2. All expenditures must follow existing University policies and procedures.

    3. Any planned expenditure expected to exceed $5,000 must be approved in advance by the UGA Procurement Office.

    4. Payment for services to the organization (performers, speakers, Disc Jockeys) must be paid directly to the individual who performs the service.

    5. There can be no cash withdrawals from a University account. In addition, there will not be a check book to make purchases with. All expenditures will be made by reimbursement to an individual or paid directly to a vendor.

    6. Expenditures are limited to the cash balance in the account.

    7. A twelve-digit University account number will be assigned to the account and must be used on all account activity.

    8. A monthly status report will be mailed monthly to the organization advisor.

    9. The organization must have an advisor and it is strongly encouraged that the advisor be employed by UGA.

    10. All expenditures are subject to state sales tax.

    11. The chief student officer must register the organization each year with the Dean of Students Center for Student Organizations. Failure to do so will result in the account being frozen with no access to the funds in the account.

    12. The University will not issue payment in advance of services. This includes deposits that might be required by the local business.

    13. A P-Card cannot be utilized for assisting with purchases on Agency accounts.

 

Using a Dean of Students Agency Account

Purchasing

There are several ways to make purchases using a University agency account:

1. Petty Cash Reimbursements – An individual may make a purchase and submit receipts, attached to an approved Petty Cash Voucher, to Tate Business Services for reimbursement via petty cash check.

2. Intra-University Charges – Many University services (Tate Center Print & Copy Center, Campus Reservations, Event Management, UGA Food Services) will allow a student organization to make purchases via a direct transfer of funds from the organization agency account to the UGA service provider.

3. Purchase Orders – The UGA Procurement Office will take competitive bids from vendors and award a purchase order to a business that has the best price. In addition, all purchases over $5,000 must be handled via a purchase order utilizing the UGAMart Procurement System.

4. Check Request – Some vendors will allow an organization to charge purchases on the assumption that prompt payment will follow. The vendor must submit an original invoice for the purchase and the student organization must complete a UGA Check Request form. This form must be approved by the treasurer and advisor prior to being submitted to Tate Business Services.

Deposit of Funds

All deposit of funds must be made with Tate Business Services at the Tate Center Cashier’s Window. Deposit forms are available at the Cashier’s Window. A receipt of deposit will be furnished to the student organization indicating the date, amount, and source of funds.

Sales Taxes

Student organizations who have an Agency account with Tate Business Services will be required to pay applicable sales taxes on purchases.

Ticket Sales

All ticket sales, as well as goods and services sold by Tate Business Services Cashier Window on behalf of the student organization, are subject to sales tax. Tate Business Services will deposit the net ticket sales into the agency account and prepare the monthly sales tax reports.