Money Matters
Money and Student Organizations
Most organizations have some source of funding. Whether through dues, fundraising, segregated university fees (SUF) funding, or other sources, student organization leaders have a responsibility to follow campus policies as well as state and federal expectations. Use these resources to help in managing your organization's funds!
Cashier's Office - Student/Faculty Accounts
UWW Cashier's office provides checking account services for recognized student or faculty organizations. The Cashier's office provides the organizations with an account number, whereby they can deposit funds, have checks written for them on the funds, and receive a monthly statement of account.
The student organization must be recognized by the UW, and must have officers and an advisor to set up an account. Student organizations with their own unique state or federal ID number are able to set up their own bank account, but may prefer this option as they do not need to order checks, it is easier to change required signatures, and funds are conveniently available to them.
Cashier’s Office Web Site: http://www.uww.edu/adminaffairs/finance/cashiers-office
Student-Faculty Account Application and Advisor Signature Authorization: https://www.uww.edu/documents/adminaffairs/finance/cashiers/Application.xlsx
Student-Faculty Officer Signature Authorization: https://www.uww.edu/documents/adminaffairs/finance/cashiers/Officer%20Signature%20Authorization.xlsx
Student-Faculty Check Request Form: https://www.uww.edu/documents/adminaffairs/finance/cashiers/Check%20Request%202-2017.xlsx
Opening a Cashier's Account: https://www.uww.edu/documents/adminaffairs/finance/cashiers/New%20Student_Faculty%20Account%20information%20form.xlsx
Banks & Credit Unions
Student Organizations may choose to open financial accounts at any bank or credit union in place of or in addition to other accounts (Student Faculty Accounts or SUF Accounts). Generally, steps are as follows:
1. Apply for an EIN
Student organizations that wish to have accounts at a bank or credit union must first have a tax id with the Internal Revenue Service. This is a free and quick process which requires the applicant to submit their personal social security number when applying.
EIN Form:
Apply for an Employer Identification Number (EIN) Online: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online
Hint - For most groups, you can select “Social or Savings Club” in the “other” section of the types list.
1. Obtain proof of recognition
If requested by your bank or credit union, Student Activities & Involvement can provide a letter providing confirmation of your recognized status with the University. Request this from the Assistant Director of Student Activities & Involvement by emailing clarksek@uww.edu.
2. Select who will be signatures on the account(s). Advisors are not required to be given/have signature authority over a student organization’s accounts. Groups are encouraged to have at least 3 individuals with signature authority. All those with signature authority will need to meet the banking institution’s expectations to open or use an account.
3. Open your account per the banking institution’s instructions.
4. Store the EIN and banking information in a secure location that will stay with the organization rather than an individual.
Lost your EIN?
UW-Whitewater Student Activities & Involvement does not store this information.
Organizations can request their EIN directly from the IRS. More information is found at: https://www.irs.gov/businesses/small-businesses-self-employed/lost-or-misplaced-your-ein.
UW Credit Union
From the UW Credit Union website (www.uwcu.org) click on the Contact Us page to schedule an appointment to start or make any changes to any Organization accounts. UW Credit Union can also help in the branch to schedule an appointment for anyone (via phone/video) however, we no longer have access to open these accounts or make changes to the account owners.
SUF Policies & Procedures
Segregated University Fees (SUF)
What is SUFAC?
Take a look at a student bill sometime. Ever notice the line at the bottom that says "student segregated fees"? What does that mean? These are the fees that fund a number of the activities, programs, and student organizations on campus.
That's the 'SUF', but what about the 'AC'? It stands for Allocation Committee, the committee that decides how those segregated university fees are spent. The committee consists of nine students; one from each of the UW-Whitewater colleges, three from Whitewater Student Government (WSG), and one from the Residence Hall Association, and two staff advisors; one from Student Affairs and the other from the Budget Office. Together they review SUF requests, and submit a budget for WSG, the Chancellor, and ultimately the UW System Board of Regents to approve. In order to utilize these funds, you will need to submit a SUF budget request to SUFAC for review and approval.
SUFAC Spending Overview: https://docs.google.com/document/d/1qEovGiVaHJm0ruWl1D2s-pOQxq2R9Y4x7qU9wM0PEWQ/edit?usp=sharing
Key Monetary Terms
Allocable: Allocable Segregated University Fees are fees that provide substantial support for campus student activities and services as outlined in Board of Regents policy F50 Section I.(B)(6)(a).
Allocation: An amount of money approved to be given to a certain area/organization.
Audit: An unbiased examination and evaluation of the spending of an organization. Audits are conducted regularly, once every two-to-four years by the university. It is conducted to ensure compliance with Board of Regent policies.
Budget Hearing: An open forum where the requesting organization explains the submitted budget request to the Segregated University Fee Allocation Committee (SUFAC).
Carryover: The amount of money not used from the previous year that could be moved to the budget of the current year. The carryover request form should only be completed to carry forward funds when they exceed $100. Any accounts with between $0 and $100 automatically carry over funds into the next year.
Contingency Fund: A campus fund that may be used to cover unanticipated expenditures and/or to expand programs of eligible organizations.
Expenses: An item of business that is chargeable against revenue for a specific period (usually the fiscal year, which at UW-W runs July 1 - June 30).
Fiscal Year: A period that a company or government uses for accounting purposes and preparing financial statements. The fiscal year may or may not be the same as a calendar year (University Fiscal Year starts on July 1st and ends June 30th).
Line Item: A specific category listed on the budget (Example- Student Travel)
Org Code: An organization account number to track all information, assigned to any group funded or partially funded through Segregated University Fees.
Non-allocable: Non-allocable SUF are those SUF that are used to support long-term commitments for fixed financial obligations, ongoing operating cost of university owned or controlled buildings, and similar commitments for student unions, health centers. Board of Regents policy F50 Section I.(B)(6)(b).
Receipts: Documentation of a purchase (Expense), or any money made during a certain period (Revenue as seen in the budget request)
Revenues: The total amount of money raised during a specific period (usually the fiscal year, which at UW-W runs July 1 - June 30).
Review: All SUF funded organizations' expenditures are reviewed on a rotational basis. These reviews are conducted by SUFAC to warrant proper bookkeeping and maintenance of documents, comparing what was budgeted to what was actually spent. Any discrepancies will be noted, and may affect future allocations.
SUF: Segregated University Fees are charges, in addition to instructional fees, assessed to all students for student services, activities, programs and facilities that support the mission of University of Wisconsin System institutions.
SUFAC: Segregated University Fee Allocation Committee is comprised of student representatives from Graduate Studies, Arts & Communication, Business & Economics, Education & Professional Studies, Letters & Sciences, Whitewater Student Government and the Residence Hall Association. This committee is advised by a staff member of the Division of Student Affairs and a staff member from the Budget Office.
Fundraising
Student organizations may fundraise to support the mission of their organization or a philanthropic endeavor. All campus policies and guidelines, as well as local, state, and federal laws must be adhered to.
Raffles
UW-Whitewater has purchased Class A and B licenses for holding raffles. These licenses may be used by recognized student organizations and university departments to host raffles where the money raised will be used to further the mission of the university and organization. Our raffle licenses cannot be used to raise money for a philanthropy or any individual, but must go directly to the organization for its operation.
Use of the University Raffle Licenses
Group use of the raffles must be approved each time they are used and prior to use.
To apply to use either raffle license, complete the form found here
Tax Information
Tax Information
If your student organization collects money through dues, fundraising, etceteras, the following information may be helpful. Please see the general overview below. .
Related Issues / Terms:
501(c) Organization - an organization that has applied for and been granted non-profit status by the federal government; often called a non-profit or not-for-profit organization; see Non-Profit Status / 501(c) Tax Exemption for further details
Fundraising and Taxes – some fundraising efforts may require sales tax to be applied; see Paying Taxes for further details
Non-Profit / Not-for-Profit Organization – an organization that has applied for and been granted 501(c) status by the federal government; also called a 501(c) organization; see Non-Profit Status / 501(c) Tax Exemption for further details
Raffles – If your organization intends to sell tickets for a chance to win something, then you are hosting a raffle; the state of Wisconsin requires a raffle license for any group performing raffles; see Raffle Licenses for further details
Sales / Seller’s Permits – required for some fundraising efforts; applied for through Wisconsin’s Department of Revenue; see Paying Taxes for further details
Tax Exemption – exempt organizations do not have to pay taxes; to be exempt, an organization must qualify for 501(c) status; see Non-Profit Status / 501(c) Tax Exemption for further details
Tax ID – an organization’s employee identification number (EIN); similar to an individual’s social security number, it identifies the organization to the state of Wisconsin; see Tax ID for further details
For the hiring of a person, company, etc. that needs to be set up in the University system to get paid:
You'll need the name exactly on how the check should be written
You'll need an email for the person that will register and submit their W9 in ShopUW+
The vendor/supplier will receive an email from UW System for the link to register
Wisconsin Sales and Use Tax Certificate of Exemption Status (CES)
This certificate may be used for transactions involving University Accounts (Student Faculty and SUF accounts). If money is being spent from or deposited into a non-University account, this certificate does not apply.
Prizes, Awards, & Gifts Form
Getting prizes, awards, or gifts? Make sure you complete the University's form found here