When a student organization raises, collects, or expends money, the group should have in place an appropriate method to collect, document, secure, and deposit the money raised and expended. The following is a guide for handling revenue when planning fundraisers.
- Make sure that a function request form has been completed and approved.
- Have in writing an estimate of expected expenses, and which expenses will be reimbursable to student organization members, prior to the fundraiser, approved by the advisor. A request for payment form for all expenses that will be reimbursable must be completed and submitted with appropriate receipts.
- It is advisable that at least two student organization members be present at the fundraisers at all times.
- Have a moneybag or lock box available to secure all cash during and after the fundraiser.
- Have verification in writing by two student organization members and the advisor of the amount of money to start the fundraiser and at the conclusion of the fundraiser (use the Student Activities Deposit Form).
- All student activity related cash transactions must be deposited with the Business Office within one business day after the conclusion of the activity. All deposits must be accompanied by a receipt form signed by a student organization member and advisor (or designee). A copy of the receipt form will be provided by the Business Office. Forms are available through the Business Office, Student Senate, Office of Student Life, Student Affairs, or the Advisors office, and online.
- A receipt of payment should be provided to a student organization member or student when they have paid for an expense such as, but not limited to: membership dues; conference payments; theatre tickets; sports tickets; trips; events; gift wrap or box cookie type sales; or donations. Receipts are not necessary for activities such as: bake sales, raffles, 50/50 tickets.