B1 Operating Accounts
Upon receiving recognition from Club Council an Operating Account is created for your organization.
Expenses (reimbursements and purchases) can be charged against your operating account. These accounts do not operate like checking accounts or an ATM. (See the section on Accessing Funds for more information)
If you have exhausted the funds in your B1 Operating Account, you may draw funds from your B2 Fundraising Account if sufficient funds are available. Neither the B1 nor the B2 may be overdrawn on the last day of class of the spring semester.
Note: Funds in the B1 Operating Account do not carry over from academic year to academic year.
B2 Fundraising Account
- While B1 Operating Accounts are college funds, B2 Funds are merely fundraising dollars held by the college. Money in your group’s B2 account does not belong to the college. B1 Operating Funds College funds are never transferred to a B2 Fundraising Account.
In addition to depositing into your B2 account, reimbursements and purchases can be charged to this account. This is the case when you do not have B1 operating funding to cover all expenses. In fact, it is a good idea to make sure that you have money in your B2 account to cover overages and unexpected costs.
In the event that the fundraising account becomes overdrawn, a deposit must be made to cover the deficit and re-establish a positive balance. As long as the fundraising account is in the negative, no funds may be expended
There are two primary ways that you can use the funds available in any of your group or organization's accounts. All purchases must be approved by the organization's President, Treasurer, or designated proxy and communicated to email@example.com.
Reimbursements for purchases made by any club/organization member (receipt required); please use this form to submit all required information.
Purchases made by OSEL. Please use the Purchase Request Form to help us better track your requests. Please note: Purchase Request Forms must be submitted at least 9 days in advance in order to ensure delivery in time for your event.
As of the fall of 2022, Cash Advances are no longer available for students or staff. Students may however receive a cash reimbursement of up to $200 with a receipt of their purchase from the Cashier in the Diplomat Exchange. For amounts over $200, students will receive a direct deposit or a check for reimbursements. Organizations will need to work with OSEL to present their receipt(s) and complete a reimbursement form. We encourage all students to set up direct deposits (using the "Direct Deposit_Student" form) with the business office in order to facilitate faster reimbursements.
Important: All reimbursements must be submitted to the OSEL by the last day of finals each semester. Contact firstname.lastname@example.org with questions or for assistance
All activities involving the exchange of money must be registered via the event form and approved in advance by the Office of Student Engagement & Leadership. This includes all fundraising activities, as well as ticket sales, registrations, and other events involving payment by cash, check, or credit card.
The Funds Collection Form must be submitted at least one week in advance of any funds collection activity. Through this form, you can request a cash box/change funds; a credit card reader (no fees charged), or a storefront website that accepts credit cards. Please note the that storefront website takes up to 2 weeks to be set up. Please contact email@example.com for further information.
How do we get a cash box and change funds to use?
A designated representative from the organization must go to the Cashier Window in the Diplomat Exchange in the SCC to pick up the change fund box.
Please note: The Cashier Window is open Monday - Friday, 10:00 a.m. - 3:00 p.m. There are no weekend hours for pick-up. If your event is on the weekend please plan to pick up your cash box before Friday at 3:00 p.m.
We recommend that you turn in deposits daily. Empty cash boxes can be held at the Information Desk overnight.
When the funds collection activity has concluded please deposit profits with the Cashier. An organization that fails to turn in the cash box that was borrowed will be responsible for reimbursing the College for the cost of the cash box. The deposit process will also include returning the change fund that was borrowed from the Cashier, which clears the loan to the individual.
- All deposits must be made within one week of the final day of funds collection.
- Precautions should be taken when transporting cash for deposit to the Cashier.
- Public Safety should be contacted for escort purposes when large amounts of cash are involved.
- Contact Bill Runner with questions regarding cash drops and deposits at firstname.lastname@example.org or 717-358-7159.