POLICY No. BAA-A03

 

 

  

INTERNAL/ DEPARTMENTAL POLICY AND PROCEDURE

 

  

  

 

 

TITLE:

Student Organization Off-Campus Bank Accounts

 

EFFECTIVE DATE

:

 

April 16, 2008

 

CANCELLATION:

None

 

DIVISION:

BUSINESS AND ADMINISTRATIVE AFFAIRS (BAA)

  

 

CATEGORY:

General Business and Administrative Affairs

 

RESPONSIBLE

DEPARTMENT:

Controller’s Office

 

 

 

 

  

  

  

  

  

  

  

  

  

1.

  

Purpose

 

To establish the policy and procedures for establishing and maintaining student

organization off-campus bank accounts.

 

  

2.

Scope and Applicability

 

 

This internal policy and procedure applies to student organizations of the

College.

 

 

3.

Guidelines

 

A. All student organizations are assigned an on-campus bank account,

through which any Student Government Association (SGA) funds

allocated to the organization will be distributed.

 

B. No SGA funds or any other funds collected by the College will be directly

allocated to any off-campus account.

 

C. Student organizations are also permitted to establish off-campus bank

accounts for fund-raising revenues, provided the procedures listed in

Section 4,

“Off-Campus Bank Account Procedures”

are followed.

 

1

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2

 

 

4.

 

Procedures for Off-Campus Bank Accounts

 

A. The Director of Student Life is responsible for tracking all funds

associated with student organizations, including off-campus accounts.

 

B. Student organizations are required to disclose information detailing

account numbers, statements and location of funds to the Director of

Student Life and the Controller’s Office.

 

C. Student organizations are tax-exempt for income tax purposes. All

student organizations with off-campus accounts are required to obtain a

tax ID number through the State Department of Revenue and Taxation

and the Federal Internal Revenue Service.

 

D. The account must be opened in the student organization's name (account

cannot include Delgado Community College in the name), in care of the

advisor (c/o), at the College's address.

 

E. All accounts must require two signatures, the advisor and the student

organization president or treasurer.

 

F. Financial reports for the off-campus bank accounts must be submitted

each semester and annually to the Director of Student Life. Forms for

financial reporting are available in the Office of Student Life. Student

organizations that do not comply with this requirement will not be in good

standing with the College, and therefore, will be ineligible for student

organization privileges, including but not limited to receiving SGA funds or

using College facilities.

 

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Reviewed by:

Ad Hoc Committee on Off-Campus Bank Accounts Policy 2/11/08

 

Director of Student Life 3/24/08

Assistant Vice Chancellor/ Controller 3/25/08

 

Business and Administrative Affairs Council 4/16/08

 

 

Approved by:

   

Signature 4/16/08

 

  

  

  

A.C. Eagan, III

Vice Chancellor for Business and Administrative Affairs