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Financial Expenditure Policy
All student organizations at Wright State University are required to follow university policies and procedures and state and federal laws. FUNDS MUST BE SPENT IN A MANNER CONSISTENT WITH UNIVERSITY POLICIES AND PROCEDURES (http://wright.edu/wrightway/5301.html). This policy is not inclusive of all University policies and provides website links for more detailed information on University policies. All student organizations must follow the requirements listed below. Please contact an Accounting Clerk, at X5570 if you have any questions.
All organizations must use a FOAPAL number for account transactions. FOAPAL numbers are available in the Office of Student Activities. Organizations may have only one account with the University. Student organizations receiving annual funding from the Student Organization Budget Committee (SOBC) will maintain a University account and student organizations receiving One time funding from Student Finance Committee (SFC) or raising their own funds will maintain an agency account. In addition, to a single University or agency account an organization may also establish an account with the University Foundation for the purpose of long-term fundraising efforts.
University Funding for Organizations:
The SOBC (Student Organization Budget Committee) is a source of funding for Wright State University registered student organizations or university supported groups approved for an annual operating budget. Funds must provide a service that benefits registered students and may not be allocated or expended for any purpose contrary to the mission of Wright State University. For additional information and guidelines on SOBC funding go to (https://orgsync.com/1148/files/208760). Organizations that are registered and are awarded an annual budget by SOBC less than $3000 will have expenses transferred out of their agency account once documentation of the expense has been submitted to the Office of Student Activities. Organizations that are registered and awarded an annual budget by SOBC more than $3000 with have a University account. All groups receiving SOBC funding are required to attend training sessions, as well as, participate in meetings with the Office of Student Activities Accounting Clerk.
SFC (Special Funding Committee) Funds: Source of funding for Wright State University registered student organizations for a one-time program or event. All organizations that are registered and receive SFC funding are required to complete a post audit form for their agency account to be reimbursed by SFC. For more information on SFC funding go to (https://orgsync.com/1148/files/208827).
Non-University Funded Organizations:
Independent Student Organization Agency Accounts: Used by independent registered student organizations that generate their own funding through dues, fundraising, etc. Funds are accounted for in a University agency account. The agency accounts are established as a convenience for student organizations and funds placed into those accounts can only be withdrawn in compliance with all the same expenditure guidelines as regular university organization accounts. Those student organizations that are not funded by the university still have fiscal and policy responsibilities.
Off-Campus Accounts: Organizations may utilize off campus accounts; however, University funds (SFC, SOBC, University Department) and proceeds generated by using University funds or resources may not be deposited or transferred to off-campus accounts. WSU has no responsibility for oversight of off-campus accounts and it is solely the student organization responsibility to assure transition of account access from year to year. Furthermore, expenditures from off-campus accounts will not be eligible for tax exemption on purchases. Any organization utilizing university facilities or related event support services are required to have an independent agency account or University account prior to events being scheduled and approved. For the above-mentioned reasons, student organizations are strongly encouraged to utilize the agency or University accounts.
A. Allocation of University funds (SOBC) is based on the University’s fiscal year, typically July 1st through June 30th.
B. An organization receiving University funding from the SOBC cannot commit monies for the next fiscal year. Remaining funds in the account will be returned to SOBC at the end of the fiscal year and any debt will be carried over into the next year.
C. Organizations are required to keep financial records and develop a semester or yearly budget for planned activities. Monthly Banner printouts are available to reconcile your account by contacting your advisor or an accounting clerk at X5570.
D. All money required for an activity must be identified or in the organization’s account prior to committing to any financial obligation for the activity. Identification may include an awarded SFC request or a letter from a departmental or student organization sponsor.
E. The Office of Student Activities provides Treasurer’s training during a workshop at the beginning of each academic year to inform organizational leaders about this policy and financial processes. All organizations having a University or Student Organization agency account are required to attend.
Use of Organizational Funds
A. All expenditures must be consistent with the purpose of the organization and SOBC and SFC requests.
B. Under no circumstances, may alcoholic beverages be purchased with funding from the Student Organization Budget Committee (SOBC), Special Funding Committee (SFC) or University Departments. It is also against university policy to spend university funds on gifts, cards, or food for the purpose of celebrating a holiday, an individual’s birthday, wedding, departure, etc. Student organizations who don’t receive university funding, including funding from the Student Organization Budget Committee (SOBC), Special Funding Committee (SFC) or University Departments, may purchase food and certain recognition items. Organizations may use self-generated funds held in student organization agency accounts for the purchase of alcohol that is consistent with the Alcohol Policy in the Student Handbook and pre-approved by the Director of Student Activities.
C. Student Organization Budget Committee (SOBC) funded groups, Special Funding Committee (SFC) or University Departments may provide financial sponsorship for student organizations with student organization agency accounts. Groups receiving such sponsorship must have documentation indicating the specific expense(s) to be covered prior to the expenditure. Sponsorship happening after the expense can not be transferred out of the independent student organization agency account to a University account.. Transfers out of the independent student organization agency account to a University funded accounts will happen when documentation of support has been provided in advance, after all expenses and revenues have been accounted, and receipts have been provided to the Office of Student Activities.
Forms & Required Signatures
A. Before any funds can be expensed, a Fund Request Form or Cash Withdrawal form must be completed and submitted to the Office of Student Activities or the organization advisor.
B. All university forms authorizing any expenditure (Departmental Purchase Order (DPO) Purchase Requisition, Petty Cash Vouchers, Pro-Card Fund Request or Cash Withdrawal, etc.) must be signed by the Office of Student Activities or the organization’s university advisor.
Authorization & Reimbursements
A. No officer or advisor is permitted to authorize payment to him or herself. All reimbursements require the approval of the Office of Student Activities and require proper documentation, including itemized receipts, cleared check, credit card statement, etc.
B. Student leaders are asked to utilize the university’s methods for payment of expenses and minimize the use of personal funds for reimbursement. When reimbursing an individual for an authorized business expense, state tax is not reimbursable. A certificate for tax exemption is available in the Office of Student Activities.
A. All student travelers must submit a travel authorization form signed by the advisor at least two weeks in advance of the travel date. No reimbursements will be made for unauthorized travel. Student organizations that are traveling or using organizational funds in University accounts are required to meet with a staff member in the Office of Student Activities at least two weeks prior to the trip to make the appropriate arrangements. Organizations must complete the driver application, emergency contact, assumption of risk and travel expectations agreement forms prior to the scheduled travel date.
B. University travel and expenditure policies are available in the Wright Way Handbook at (http://wright.edu/wrightway/5601.html).
A. Student organizations not subsidized by University funds (SOBC, SFC or departmental funds) can withdraw up to $200 at one time (usually once within a week) in cash for business related organization expenses. Disbursements greater than $200 must be made by check and require a minimum of 10 working days advance notice. All itemized receipts and any unused cash must be returned to the Office of Student Activities within 3 working days of the withdrawal. A temporary hold will be placed on the account if itemized receipts and unused cash are outstanding after three working days.
Procurement Cards (Pro-cards)
A. Procurement cards will be issued to selected Advisors of the annual SOBC funded organizations. A procurement card is issued in the name of the advisor. The advisor may authorize other organizational members to use the organizational card. Organization with Pro-Cards must follow the University policy for the card (http://www.wright.edu/internal/finserve/pncpolicies.htm).
B. Pro-cards may be used for any items costing $1000 or less. Multiple pro-card transactions to the same vendor that exceeds the $1000 limit (pyramiding) is expressly prohibited.
C. Procurement cards will be securely stored with the respective advising department or The Office of Student Activities. A request for funds form must be filled out by the student and signed by the advisor prior to issuing the card for purchase. Reconciled pro card statements must signed and dated by the advisor and the organization treasurer. Only those individuals authorized by the advisor to make purchases on behalf of the organization may use the card. A temporary hold will be placed on the card and or account until the itemized receipt(s) and card are returned.
D. Any unauthorized expenditures will be the responsibility of the individual submitting the Pro-Card Fund Request Form.
Ticket Sales & Cash Handling
A. All ticket sales must be conducted through the Student Union Box Office. Ticket sales through the box office require an Agreement to Sell Contract and Event Data Sheet (http://www.wright.edu/students/union/boxoffice.html). Printing of tickets is the responsibility of the organization and must be numbered. Tickets may be checked out of the box office for table or personal sales. For all tickets checked out of the Student Union Box Office, all revenues and any unsold tickets must be returned to the Box Office.
B. All cash collected for events or fundraisers must be secure at all times at a University location. Cash must be deposited immediately after the event to the drop box outside of the Bursar’s office including a slip with the organization’s name, account number, ticket price and total number of tickets sold. Student organizations should request that security personnel for an event escort them to the Bursar’s office.
Equipment & Supplies
A. Purchase of equipment and supplies with University funds (SOBC, SFC or University Department funds) are the property of the University and must be stored and secured on University property. University equipment and supplies may not be used by any member for personal gain.
A. Contracts should not be committed to unless the expense has been budgeted by the organization and funds are identified or in the account.
B. Under no circumstances should a student sign a contract on behalf of the university. Students signing contracts will have personal liability and payment of the contract.
C. All contracts should be submitted to the Advisor or Associate Director of Student Activities no later than 2 weeks prior to the activity.
D. If an activity requires a contract for payment and the performer or service provider does not have a contract, the Office of Student Activities will issue a University contract. Since the contract will require the provider’s signature, groups should plan more than 2 weeks in advance for timely contract execution and payment.
E. All contracts must include individual payee’s social security number or an organizational Tax ID number for the IRS 1099 form.
A. No institutional contribution, either financial or for equipment orsupplies, from university funds, should be made to charitable or other non-profit organizations. The university should not purchase tables or individual tickets for events sponsored by charitable ornon-profit organizations. Rather, a representative of theuniversity should attend such functions at his/her own expense whenhe/she considers it important to do so. Exceptions to this policy may be made for events held for the purpose of honoring or promoting the university orits faculty, staff, or students. In addition, the president, provost, or a vice president may approve limited exceptions for the support oforganizations deemed important to specific university interests.
B. The university may place advertising in publications sponsored byphilanthropic/non-profit organizations when such advertising is consistent with institutional purposes and provided for in annual advertising budget plans.
C. The university should not provide free services (e.g., television production, media support) to charitable or other non-profit organizations. Written request/justification, may be submitted to the Director of Student Activities to authorize exceptions to this policy. Any exceptions will be approved by the Vice President for Student Affairs.
Groups Losing Registration Status & Account Closures
A. Any organization losing registration status with The Office of Student Activities will result in account closure. Should the organization become registered within a year of the account closure their account will become active. Inactive organizations for more than one year will result in permanent account closure. Should the group register after a one year period, they may establish a new account.
A. Presidents, Treasurers and Advisors are ultimately responsible for adherence of this policy.
Violation of University Policy
A. If a violation of the University policy or Code of Student Conduct has occurred an incident report may be filed to the Office of Student Judicial Services for disciplinary action.
B. Failure to follow financial policies may result in immediate account suspension or closure and/or withdrawal of student registration status.