Presidents and treasurers are principally responsible for organization funds. It is important that all organizations spend their funds in the best interests of both their members and the student body, and according to the College’s financial procedures.
The following are requirements for all ATC funded organizations.
• All organizations are required to keep their funds in a College account. NO OTHER ACCOUNTS ARE ALLOWED. If your organization currently has another account, CLOSE IT, and deposit the balance into the authorized organization account as soon as possible. For assistance in establishing an account contact William Brown, ext. 2143.
• All transactions must go through Gina Nossel in the College Union. Please check with Gina or Bridget Ely for correct billings, reimbursement forms and copies of budgets.
• The president and treasurer are the only persons authorized to access the account. Others may be permitted to access the account only with the authorization of these officers.
• The Activities Tax Council and the Director of Student Activities, William Brown, review each account on a regular basis and consult with organization officers as necessary.
• The Treasurer or designated officer should also keep accurate records of expenses and deposits and periodically check with the Accounts Coordinator to be sure that both records show the same balance. Statements of your account balance are available upon request and all files are open to officers for review.
• Deficits should not occur in organization accounts. However, in the rare instance that they do, the amount of the deficit will be deducted from that organization’s allocation for the coming year.
• Any unused funds in accounts as of June 30 will be returned to Activities Tax Council for distribution later. Organizations may request that funds roll forward at year end. Requests must be based on specific organizational needs or special circumstances.
• Organizations should follow their approved budgets. Significant departures from the approved budgets require prior approval by the ATC. It can take as much as three weeks for approval. Contact the Chair of the ATC for more information.
• Prior approval by the ATC is required for all expenditures. Approved budgets provide the basis for this approval. Expenditures not covered by approved budgets will be referred back to the ATC before any payment is authorized.
• Each organization assumes sole responsibility for any and all debts incurred by its activities during the fiscal year (July 1 through June 30).