COP 04-0701: College Club and Organization Accounts

Purpose Statement

The purpose of this procedure is to provide rules and guidelines related to the establishment and operation of club and/or other organizational accounts to which the club or organization has deposited, or wishes to deposit, funds for safekeeping by the College whereby the College acts as the club or organization's fiscal agent.

Guidelines

This procedure encompasses all student clubs and non-student organizations which require Florida SouthWestern State College (the "College") or a Florida SouthWestern Collegiate High School ("Collegiate High School") to maintain custody of their funds for the benefit of students (Fund 6 - Agency Fund Accounts).

This procedure does not pertain to student clubs and organizations which operate under the auspices of the College Foundation nor does it apply to organizations which are funded by student fees collected by the College.

Procedures

1. Authorized Organizations.
   1. General Requirements.
      1. Any organization which desires to provide College or Collegiate High Schools students, employees, alumni, and the community with social or cultural opportunities, student financial assistance or other forms of benefits which enhance the purpose of the College may request to have the College act as its fiscal agent. As fiscal agent, the College is merely the custodian of the organization's funds for safekeeping purposes, the funds to be used or withdrawn by the depositor at will.
      2. The approval of an organization to have an account in the College's financial records does not imply any other privileges for the organization with respect to activities which the organization may perform.
   2. Student Organizations.
      1. College student organizations must be approved by the College Student Government Association ("SGA"). All student organizations are the responsibility of the Office of Student Involvement and must comply with all College Operating Procedures ("COP") and other rules established by the Office of Student Involvement. If a student organization is an Internal Revenue Service ("IRS") recognized charitable tax-exempt organization and the organization expects to conduct fund raising in excess of $5,000 in the taxable year, the organization must provide the Office of Financial Services with a copy of the IRS charitable organization determination letter.
      2. Collegiate High School student organizations must be approved by the Collegiate High School principal. All student organizations are the responsibility of the Collegiate High School and must comply with all COPs and other rules as established by the Collegiate High School.
   3. Non-Student Organizations.
      1. Other organizations which are not defined as an SGA-approved organization may request to have an account established in the College's accounting system for such purposes as third party directed scholarships for College students, faculty and staff projects/programs or fund-raising events which are not considered to be a material component of the College's development plan. Non-student organizations are not regulated by, and do not operate under the control of, the College. College administrative budget and procurement procedures do not apply to non-student organizations. The College is merely acting as the fiscal agent of the organization.
2. Account Management.
   1. Establishing An Account.
      1. Request Fund Number.
         1. College Student Clubs and Non-Student Organizations.
            The club/organization must request the College to set-up a fund number in the College's financial system. The organization's president or other authorized representative must complete form BO-012 and submit it to the college advisor/sponsor who must also be a College authorized budget administrator. Form BO-012 will additionally require authorizing signature from the Director of Student Involvement. The Office of Financial Services will notify the Office of Student Involvement when a fund number is assigned. The Office of Financial Services, upon assignment of a new college student club fund, may deposit an initial dollar amount from the college not to exceed $500.
         2. Collegiate High School Clubs.
            The club must request the establishment of a fund number in the College’s financial system. The organization's president or other authorized representative must complete form BO-012 CHS or BO-012 LHS and submit it to the high school advisor/sponsor who must also be a College authorized budget administrator. Form BO-012 will additionally require authorizing signature from the Principal of the Collegiate High School. The Office of Financial Services will notify the Collegiate High School when a fund number is assigned.
   2. Budget Administrator Responsibilities.  The budget administrator will be responsible for the following:
      1. Confirm that the purpose of the requesting organization is for the benefit of the College and/or Collegiate High School students or as otherwise defined in this COP.
      2. Assure that deposits and withdrawals are properly approved by the organization and are in accordance with the organization's approved budget.
      3. Advise the organization of all College Board of Trustees policies (" College Policies") and COPs which pertain to the organization.
      4. Assure compliance with College Policies and COPs with regard to the organization's activities.
      5. Inform the organization of infractions which may lead to discontinuance of the organization's relationship with the College or Collegiate High Schools and subsequently inactivate the organization account if necessary.
      6. Request the Office of Financial Services to close the account when activities cease or significantly diminish and the organization account is no longer a going concern and return any balance in the account to the organization.
      7. Supply the Office of Financial Services with the organization's authorized signatories.
   3. Deposits.
      1. By Club Members.
         1. Any member of an organization which has an account with the College may make deposits to the organization's account at any College cashier office in accordance with the COP 04-0309 (College’s Decentralized Cash and Check Collection).  
         2. The depositor may deposit cash or checks into the account. When making a deposit, the depositor will use the BO-042 (Cash & Check Receipt Deposit Form) and include the organization's fund number on the form.
      2. By College.
         1. Each fall semester, if a College student club is registered and considered active by the campus Office of Student Involvement, then the club will receive up to $500.
         2. If a student club is considered inactive for more than four consecutive semesters, then the money will be swept into a general fund for campus activities on each campus.
   4. Interest. Balances in club and organization accounts do not earn interest.
   5. Withdrawals.  
      1. Only authorized representatives may withdraw funds from an organization's account. An authorized representative is regarded by the college as being the president, vice president, treasurer of the organization or position title indicated on the organizations.
      2. These representatives may delegate their authority to other members of the organization by written notification to the budget administrator. Withdrawals are requested on the college's check request process or on the Petty Cash Reimbursement form (BO-001) for withdrawals under $50.00.
   6. Closing an Account
      1. The organization may close their account at any time upon written notification to the Budget Administrator. The Budget Administrator will issue a Request for Payment form requesting the Office of Financial Services to issue a check for the balance in the account and asking that the account be closed. A check for the balance in the account will be issued to the organization's President or other authorized representative.
      2. The Office of Financial Services will conduct an annual review of balances and will provide a notice of accounts to be closed to the Director of Student Involvement and Collegiate High School Principals for final approval prior to closing of any accounts.
3. Fundraising.
   1. Fundraising By Student Organizations.
      1. Fundraising by College student clubs, as well as other activities, are regulated by the Office of Student Involvement according to their rules. College or Student Development sponsored fundraising activities may not exceed $5,000 in a taxable year unless the organization is recognized by the IRS as a charitable tax-exempt organization. Organizations which desire to raise funds in excess of $5,000 in a tax year may be subject to federal and state taxes. 
      2. Fundraising by Collegiate High School clubs are regulated by the Collegiate High School principal and must be supervised by a high school employee and approved by the principal.
   2. Other Fundraising Activities.
      1. Fundraising by organizations not controlled by the Office of Student Involvement are regulated by state and federal laws. Fundraising activities not performed under the auspices of the Office of Student Involvement may not profess to be College events and do not qualify as College charitable tax-exempt events.
      2. Any organization which falsely alleges that payments are to College and are tax deductible will have their account closed by the College.