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History
- Policy Number: FA.06.001
- Version: Original
- Drafted By: Diane Mandrafina
- Approved By: Erika D. Beck
- Approval Date: 03/27/17
- Effective Date: 03/27/17
- Supersedes: N/A
Purpose
To provide guidelines for the administration of student organization funds. Monies collected in the name of the student organization for its activities must be used exclusively for the purpose of furthering the student organization's goals and objectives. Funds collected by or for CSU Channels Islands' student organizations must be administered by the University in adherence to CSU Policy.
Background
This policy implements the Integrated California State University Policy Manual Number 3141.01, https://csyou.calstate.edu/Policies/icsuam/FinalPDF/Section%203000%20PDF/3141-01.pdf), effective July 1, 2016 which requires that monies collected in the name of a campus student organization be maintained in a campus or auxiliary bank account. Per CSU Executive Order 731– Designation of Chief Financial Officer, the campus CFO is responsible for the business and financial affairs of the institution; at CSUCI this would be the Vice President for Business & Financial Affairs. Per Executive Order 1068, the Vice President for Student Affairs (VPSA) is responsible for overseeing the chartering and recognition of student organizations.
Policy
Accountability
The Vice President for Business & Financial Affairs and the Vice President for Student Affairs will administer this policy at CSU Channel Islands. The AVPSA for Campus Life and the AVPSA for Housing & Residential Education and Associated Students, Inc. support the implementation and adherence to this policy by student organization members and officers. Questions, comments, concerns should be addressed to the appropriate Vice President as herein defined.
Applicability
This policy applies to all recognized student organizations and any funds collected by or for student organizations.
Definition(s)
ASI: Associated Students, Incorporated of California State University Channel Islands
BFA: Division of Business & Financial Affairs
EIN: Employer Identification Number
Funds: A sum of money collected, saved or made available for a particular purpose.
SBS: Student Business Services
DSA: Division of Student Affairs
SOI: Student Organizations & Involvement – a function of Campus Life (CL) within the Division of Student Affairs (DSA) which supports students in establishing, developing, and maintaining student organizations
Text
Monies collected in the name of a campus student organization must be maintained in a bank account of ASI using the EIN of ASI. CSU Channel Islands does not allow student organizations to maintain bank accounts outside the University.
All funds collected by and for a student organization must be used to support programs and services that are connected to the mission of the student organization, as well as the mission of CSU Channel Islands.
Collection of cash and cash equivalents by student organizations must be executed in compliance with procedures as outlined by SBS.
Student organizations may access funds they have collected for payment of goods and services by following financial, purchasing, and payment procedures established by BFA and ASI.