Club Finances

General Guidelines

• All clubs are official entities of the college and must follow college policies and procedures

• All money raised, donated, and collected must be deposited in the club account.

• All expenditures must be PRE-APPROVED by the club officers and adviser(s) as well as signed off by the director of Student Activities.

• No off-campus accounts are allowed.

• Club funds may not be used for the benefit of individual club members or the purchase and/or delivery of alcoholic beverages.

• There is a two week turnaround between all the completed paperwork being turned into the Student Activities office and having a check cut.

• Appropriate documentation (receipt, invoice, signed contract, etc.) must accompany each request for payment no matter what form is used.

• The college does not reimburse for sales tax. Be sure to get a copy of the college’s tax-exemption letter from the Student Activities office before you make any purchase.

Account Number Format: 2 - # # # # - # # # #

2	# # # #	# # # #
Area Number	Organization Number	Object Code

Area Number: All club accounts have an Area Number of “2” which indicates that it is a Student Affairs account.

Organization Number: This is your actual account number.

Object Code: This 4-digit number indicates the category of the revenue (deposits) or expenditure (withdrawals). The following are the basic object codes. Additional object codes can be assigned as needed.

REVENUE OBJECT CODES
0520 – Student Organization Fees

EXPENDITURE OBJECT CODES
3900 – Contractual Services
4100 – Office Supplies
4700 – Advertising
5100 – Meeting Expense Local
9510 – Staff Services (this is automatically assigned)

Accessing Your Account

• When in doubt, ask ahead of time!

• To be on the safe side, any expense more than $100 should be approved by your liaison ahead of time

The Forms and When to Use Them

• All are available in the Student Activities Office

For Deposits

Receipt of Payment

• used for all deposits

For Withdrawals

Petty Cash	• to reimburse a club member or adviser IF… • the expense is LESS THAN $100   AND • the expense is NOT for travel, food or meeting expenses (object 5100)
Requisition	• to place an order for an item(s) (reqest a Purchase Order Number) • to pay a bill/invoice for items already purchasedto pay a performer (see Contracts) • to pay for a service performed by a college department unless there is a specific form for that service (i.e. Dining Services/Catering Requisition) • to reimburse a club member IF... • they are NOT employed by the college AND • the epense is MORE THAN $100
Reimbursable Expense Form	• to reimburse a club member IF… • they ARE employed by the college • to reimburse an adviser IF… • the expense is for travel, food or meeting expenses (object 5100)
Dining Services/ Catering Requisition	• to order food service from Dining Services
Staff Services Work Order	• to order copies from the Copy Center
Staff Services Sign Order	• to order signs from the Copy Center

Depositing Money to Your Account

• All funds generated for/by the club must be deposited into the club account as soon as possible.

• Checks must be made out to: “College of DuPage” or “COD” and may include your club name on the payee line or memo line.

• Checks must have the writer’s correct address and phone number.

• All checks must be endorsed with the appropriate stamp and account number. These are available in the Student Activities Office.

• A Receipt of Payment form must be completed for every deposit.

• Checks, cash and Receipt of Payment form should be taken to the Accounts Receivable office. Special arrangements may be made in advance through your Student Activities liaison if funds need to be deposited when that office is closed.

Getting Money from Your Account

• Determine which of the forms is appropriate (see above).

• Attach appropriate documentation (receipt, invoice, signed contract, etc.) to the form.

• Have your adviser sign the form.

• Drop the form off at the Student Activities office for the director’s signature.

• Petty Cash Forms can be picked up after 48 hours. If you put your phone number on the form, you will be called when it is ready to be picked up. The forms should then be brought to the Cashiers Office for reimbursement.

• Checks for requisitions can either be mailed to the payee or delivered to the Student Activities office. The preference must be noted on the requisition.

• Checks for Reimbursable Expense Forms are automatically sent to the department the employee works for.