Financial Information and Record Keeping
Student Organization (Agency) Accounts
Each recognized student organization has an agency account. This money may be used for any responsible purpose deemed appropriate by the organization and Student Engagement. It is important to always deposit money from dues and fundraisers into the organization account. The funds in the organization account remain with the organization over multiple years. To use funds from your Agency Account you must complete a budget request submission on SetterSync, under the Finance tab on your student organization page. Please make sure to select Agency Account Request when doing so.
Student Activity Fee—Funding Process and Timeline:
- Funding is available through the Budget Request process using SetterSync. Budget proposals are reviewed and approved by the SGA Finance Committee. Requests must be received in advance of the budget deadlines which are distributed each year by the Student Government Association.
- All Budget proposals must be aligned with policies and procedures outlined in the bylaws of the Vice President of Finance. View additional information on funding options in the Student Government Constitution
Other Funding Sources
Student Organizations have multiple methods of raising funds for events/services and general student organization operations. These sources have different criteria and processes that are in place to ensure accountability and mitigate the risk of money handling.
Fundraisers
Fundraisers may include activities such as: bake sales, candy sales, charity sales, and raffles. Make sure that any fundraisers your organization plan are consistent with University policies and procedures, specifically the raffle guidelines and fundraising policy listed within this handbook.
Co-sponsorship/Collaboration
In addition to funds available through the SGA Finance Committee, you may also obtain money for your events by participating in co-sponsorships with university offices, academic departments, or others. If you prefer not to co-sponsor you can also get donated funds or services from these groups or from outside organizations. Before accepting outside funding or sponsorship please speak with a Student Engagement representative.
Event Admission Fees
If your event is funded by the Finance Committee, you are not eligible to charge an admission fee to current Pace students. ONLY outside guests may be charged an admission fee. Exceptions are only granted to those who petition SGA and the Student Engagement, in advance, for permission to do so. Examples are; charitable programs, fundraisers, high-cost programs.
Depositing Funds
All collected revenue associated with a student organization activity must be submitted for processing with the Center for Student Engagement.
- As of Fall 2019, multiple sources of revenue will no longer be accepted. Collecting revenue should take place using an online software or checks. Cash is no longer accepted at Pace. All monies collected as part of your fundraiser should be combined into one form of deposit prior to turning it over the Student Engagement staff.
- Example: Collect your funds, get one check written and bring it to the office for handling
- Dues, for a fraternity, sorority, organization, or club sport must be provided to the Student Engagement staff contained within one form of deposit. I.e., if you are collecting monies, gather them all first and then bring one check to Student Engagement.
Contracts
A contract is a written agreement created to inform two parties of their legal obligations to one another and to express in writing their mutual understanding. At no time should you, as a student, sign a contract. All University contracts are reviewed and signed by our University legal team. Your role is to connect the Student Engagement staff with your approved vendor of choice so we can coordinate the contracting process.
Purchasing Policies
All purchases for your student organization needs will be coordinated by the Center for Student Engagement team. As a courtesy, we will use our purchase order system and/or University credit cards to complete purchases that support your operations and programming.
- Should you opt to purchase supplies on your own, you must submit those receipts within five business days with the Student Engagement team for reimbursement. If you do not, our team reserves the right to deny reimbursement.
- NOTE: All reimbursements require original receipts. All receipts must be legible and itemized.
Student Organizations Purchasing and Financial Record Keeping
The treasurer should be responsible for keeping accurate records of the organization’s financial records. Student Engagement will forward to each organization periodic reports and account balances. If discrepancies arise, Student Engagement staff is available to help.
- Under no circumstances should an individual student gain financially from a student organization sponsored event. If you believe this may have occurred, please contact the Director of Student Engagement.