POLICY No. BAA-A03
INTERNAL/ DEPARTMENTAL POLICY AND PROCEDURE
Student Organization Off-Campus Bank Accounts
April 16, 2008
BUSINESS AND ADMINISTRATIVE AFFAIRS (BAA)
General Business and Administrative Affairs
To establish the policy and procedures for establishing and maintaining student
organization off-campus bank accounts.
Scope and Applicability
This internal policy and procedure applies to student organizations of the
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
“Off-Campus Bank Account Procedures”
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.
- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
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
A.C. Eagan, III
Vice Chancellor for Business and Administrative Affairs