Finance

Student Organization Funding Committee (SOFC)

Email: Individual SOFC Rep

The Student Organization Funding Committee (SOFC) is a body of undergraduate students that serves as an intermediary between the Office of Student Involvement and the registered student organizations of Boston College. Their mission is to support student organizations and their activities, maximizing the value they bring to the Boston College community through an equitable allocation of the student activity fee. 

Student Affairs Business Service Center (SABSC)

Email: clubbdgt@bc.edu

The Student Affairs Business Service Center (SABSC) is a unit of the Office of the Vice President for Student Affairs. The SABSC is responsible for training treasurers, completing Student Organization Funding Committee transfers, issuing Purchasing Cards, and processing payments for student organizations. Organizations should be familiar with the SABSC Financial Guidelines, which can be found at 

https://www.bc.edu/content/bc-web/offices/student-affairs/sites/business-service-center/student-organization-treasurers.html

Carney 131 Student Staff

Email: rsoteam@bc.edu

The Carney 131 Student Staff are students who have been trained to help process paperwork such as purchase requests and p-card reconciliations for student organizations. They are located in the Carney 131 Office from 9AM-5PM, Monday through Friday and are always available to answer questions. 

Every Registered Student Organization has a Chart String - think of this as your bank account number for doing business at BC. It's thirty-two digits chart string. The chart string has two primary purposes: to reserve space for activities and events, and to receive and expense funds.  Your Chartstring can be found by visiting your organization's finance tab on myBC. The Chartstring is 32 digits, and is the number listed as your account number.

The chart string is divided into seven fields:

Department (025101),

Fund (920),

Fund Source (5 digits-specific to organization), 

Program (00000),

Function (999),

Property (00000), and

*Account (67500)

*The Account field is needed to request space via the room requisition system but is not used to process payment requests.

This can be found under the finance page on MyBC, specifically under the Accounts Section. 

Student Organizations may have access to funds through a few options. Most common is SOFC funding, Revenue, Student Contribution, and Boston College Sponsors. 

SOFC Funds

• The funds approved and deposited to your account from the Student Organization Funding Committee. 

• All funds allocated by the SOFC or deposited into a university account are subject to the rules of the SOFC and Boston College policy and procedures regarding the expenditure of student activity fee funds and donations. The organization officers are responsible for abiding by and adhering to University and SOFC policy regarding the expenditure of funds.

• Please note that funding is granted per semester. Any remaining funds within your budget at the end of the semester will be taken back.

Revenue

• Revenue is funding that your student organization has generated through donations, due, eMarket sales, concessions, and ticket sales. 

• Please be sure to review the guidelines for Non-SOFC/Revenue Spending. 

• Student organizations who have funds that are not allocations from SOFC have fewer guidelines for utilizing those funds. Organizations who are spending on items for specific individuals (i.e. senior gift, or other merchandise) should not accrue for more than $99 per person. Funds must  be spent in accordance with Boston College Procurement guidelines and policies (i.e. purchasing of non-approved items). Any meals/dinners revenue accounts are used for should be in guidance with local Per Diem Rates - Per Diem Rates | GSALinks to an external site.. Purchases must be requested in advance through the MyBC Purchase Request process and be associated with an approved registered event. Purchases made without this approval are subject to needing repayment by individuals.

Student Contribution (eMarket)

• For events such as travel or retreats, there is typically an expected student contribution. This is to be collected via an eMarket which will be reflected in your revenue account on MyBC. 

• To create an eMarket, please be sure to review the optional eMarket Training Module. 

Boston College Sponsors

• University offices may co-sponsor events/programs and may transfer funds to your organization. Please connect with your OSI Advisor if and office or department is looking to collaborate with you on an upcoming event.

• A student organization is not permitted to transfer funds to a university office or department.

Other sources of funding may include gifts and donations, ticket sales, and fundraising specifically through concessions, etc. Please be sure to review the optional Treasurer Training Module to learn more about these funding sources. 

Student organizations who have funds that are not allocations from SOFC have fewer guidelines for utilizing those funds. Organizations who are spending on items for specific individuals (i.e. senior gift, or other merchandise) should not accrue for more than $99 per person. Funds must  be spent in accordance with Boston College Procurement guidelines and policies (i.e. purchasing of non-approved items). Any meals/dinners revenue accounts are used for should be in guidance with local Per Diem Rates - Per Diem Rates | GSA. Purchases must be requested in advance through the MyBC Purchase Request process and be associated with an approved registered event. Purchases made without this approval are subject to needing repayment by individuals.