Student Organization Finances

Organization Finances

All recognized student organizations are representing the at the University of Dayton and must follow the policies and procedures outlined by the university. Student organizations who accept university funds must have a Ledger Account with the University of Dayton. Student organizations should have a designated treasurer or equivalent officer who maintains detailed records of all withdrawals and deposits. The accounting-book feature is available in 1850 and will be the source in which students can track their finances.

Student organizations may not have outside bank accounts or utilize outside methods of fundraising, funds collection, or payments without authorization.

Deposits

  1. All income that is generated (for example, through dues or fund raising events) must be deposited in the established student organization account within 2 days of collection.

    • Funds can be deposited at the Kennedy Union Box Office (Monday through Friday from 9:00am - 3:00pm)

    • Funds not deposited through the established procedure cannot be guaranteed trackable by CSI.

  2. Student organizations wishing to collect funds electronically should contact the Center for Student Involvement to explore available methods of online and electronic funds collection.

    • Student organizations who utilize unapproved methods of funds collection (Venmo, paypal, gofundme, etc.) jeopardize recognition with the University.

    • Options:

      • Set-up store on 1850 organization page to allow for credit card purchases.

      • Checks and cash can be brought to the Kennedy Union Box Office between 9am – 3pm Monday through Friday.

      • All organization funds should be deposited to the club/ledger account within 2 business days of collection.

Withdrawals

  1. Student Organizations can withdraw any or all of their account balance to use it to pay for necessary goods and services using the following methods:

    • Purchasing - card

      • Must retrieve tax exemption form from CSI before making purchase. Receipts with tax will not be accepted

      • Must return original receipts with Purchasing-card by assigned date. Failure to provide original receipt may result in P-card request being denied.

    • Runway

      • All students have access to the university's purchasing system

    • Travel receipt Reimbursement

      • Travel related expenses can be reimbursed by completing a Travel reimbursement form (available in the Center for Student Involvement)

      • Original receipts must be approved.

    • Check order in Runway

      • Checks can be requested on Runway to pay vendors.

NO CASH will be given out at any point from University of Dayton Ledger accounts!

1850 Money Functions

Each Student organization has its own portal on 1850. 1850 should be used to track all student organization financial transactions. Student organizations will receive a copy of the university’s official student organization fund transaction records to reconcile against once per semester. Below are functions available outline as the Center for Student Involvements intended use for student organizations.

Budget Tab:

  • The budget tab is where student organization leadership can submit financial request. Financial Request are mandatory for student organizations as the request allows members, advisors and staff to see/approve how student organizations want to spend funds.

  • Request can be made by selecting the “Spend Money from Your Club Account” tab from the drop-down option located near the top-left corner of the Budget screen. After selecting the correct tab, Presidents and Treasures can select the “Request Payment” button toward the bottom-right portion of the same screen.

Accounting Book Tab:

  • The Account Book is where all transactions will be visible to the student organizations. Available money in the student organizations university fund will be under “Group Funds”. Money award through SGA will be located under “SGA Fall/Spring Funding (19- 20)” or “SGA Special Request Funding (19-20)”. Please note that funds awarded through SGA will not be directly deposited into the “Group Fund”. SGA Funds must be spent through SGA or treated as a reimbursement for a purchase made by the club.

Online Revenues:

  • The Online Revenues tab will allow members to see who has paid for which items sold through student organizations 1850 stores (See CSI office for store set-up process and approval).

Gift Cards

If a group wishes to give away gift cards, they cannot be used to reimburse individuals or used as payments and should be for a specific location and not be the credit card type of gift card.

  • Gift cards must be given away as gifts. They are not to be used by the student organization to purchase merchandise.

  • Gift cards and prizes must be given away within 10 days from purchase. They cannot be kept for future events.

  • If the dollar amount is over $100.00, you must provide the following information along with the itemized receipt:

    • Full name (first and last) of recipients

    • Item that was received

    • Exact dollar amount of item received, do not round dollar amounts

    • Reason recipient item

Inactive/Defunct Student Organization Funds

Student organizations that fail to meet the requirements necessary to keep active status will have funds kept until the beginning of the next academic year, in case the organization starts back up or decided to become active again. Funds in inactive accounts are non-refundable and can’t be redistributed to students.

After the academic year without activity/ written intent to restart the organization, funds will be given to other student organizations with similar missions or goals, at the discretion of the Center for Student Involvement.