Management of 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 fundraising promotions and activities. Whereas the Tate Business Office 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. The Tate Business Office is not involved in the collection, deposit or maintenance of any funds beyond those in the University account. The Tate Business Office does encourage any student organization having funds outside the University to follow sound business practices.
Registered student organizations are eligible to have a University agency account through the Tate Business Office. 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 generated from dues, donations, fund raising activities, and ticket sales.
Upon making a request to establish an account the Tate Business Office will prepare the necessary paperwork and route the request through established channels to the UGA Accounting Office. Once approved and established the Tate Business Office will notify the organization advisor and/or treasurer with the new department number.
Please consider the following points where requesting an agency account:
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 the Tate Business Office.
All deposit of funds must be made with the Tate Business Office 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.
Student organizations who have an Agency account with the Tate Business Office will be required to pay applicable sales taxes on purchases.
All ticket sales, as well as goods and services sold by the Tate Business Office Cashier Window on behalf of the student organization, are subject to sales tax. The Tate Business Office will deposit the net ticket sales into the agency account and prepare the monthly sales tax reports.