Financial Policies & Procedures

All student organizations must abide by their home department's (ODUS, PACE, or ORL), as well as the University's, financial rules, regulations and policies regarding student organization accounts.

Fiscal management is of significant responsibility. Misrepresenting the nature of a student organization event, not following IRS procedures or violating University regulations are serious offenses which will result in disciplinary action.

For more information on financial transactions, please see Financial Transactions and Finance Forms.

Financial Management

  • Student organizations must maintain a positive spendable balance.
  • Student organizations may not maintain outside bank accounts nor hold cash.
  • Student organizations may not conduct any fundraising efforts without first contacting and submitting a proposal to an administrator in the group's home department.
  • All student group members' out-of-pocket reimbursement requests must be submitted via Concur.  Receipts are required for all expenses.
  • All funds collected (dues, donations, profits, etc.) must be deposited into the student group's University account. These funds may not be deposited into an individual student's bank account, be held by an individual, or invested.
  • Cash and checks should be deposited at the Financial Service Center on the 7th Floor of New South. 
  • All donations must go directly to Development at the Helm Building.
  • The University is a non-profit, educational 501(c)(3) institution and exempt from sales tax on most purchases. 

Managing Financial Information by the Group Treasurer

Paying Vendors/Individuals

  • Individuals/vendors should be paid through the University's Prime system.
  • Under no circumstances should a student pay an individual for services rendered and expect reimbursement from the University (e.g., paying a DJ yourself and submitting a reimbursement request via Concur).
  • Under no circumstances should a student organization pay a vendor directly out of event admission fees (e.g., ticket sales).
  • Per University policy, students may not hire other students for services (except through PSA) without first consulting the ODUS office. Invoices submitted retroactively (without prior consultation) will not be paid.
  • Students, faculty and staff are reimbursed for allowable out-of-pocket expenses through the Concur system.   

Other Policies

  • Due to IRS regulations, student organization funds may NOT be used to purchase gift cards or other cash equivalents.
  • Student organizations may NOT make alcohol or alcohol related purchases.
  • Student organizations may ONLY be active and incur expenses during the academic year.