Activities | Student Org & Advisor Handbook

Student Organization & Advisor Handbook

MANAGING FINANCES

Content: SUFAC | SOC Budget & Review Council | Segregated Fee Funded Organizations | Private Accounts | Private Account Sales Tax Considerations

The University is not responsible for debts or other liabilities of student organizations except for extraordinary circumstances. All new and continuing members of groups, as well as businesses where products and services are ordered, should be informed of this. Officers and advisors of the student organization may be held liable for financial obligations incurred.

Income or revenue for student organizations usually derive from a variety of sources, such as ticket sales, donations, fundraising activities, or special funds.

Expenses for an organization are typically those operating expenses, such as national or regional membership dues, rental fees, postage, duplicating, and telephone charges. Salaries, where applicable, are also included. For special activities or programs, expenses can include, entertainer fees, facilities rental, travel lodging, and publicity. A budget summary shows your income or deficit after expenses have been deducted. It is perfectly normal for the balance to be zero because student organizations by definition are not profit making entities.

Student University Fee Allocation Committee (SUFAC) return to top
A portion of the Segregated Fee (a fee assessed each student, along with tuition) is designated for the support of student organizational activities and program. The funds are allocated by the Segregated University Fee Allocations Committee (SUFAC) and must be spent in accordance with University budget procedures as administered by the Student Activities Office, following state statutes.
Upon the call of the Chancellor and the President of the Parkside Student Government Association, SUFAC annually prepares recommendations on the disbursement of Segregated Fees.

Student Organizations Council’s Budget & Review Committee return to top
The Budget & Review Committee (B&RC) has established specific guidelines for requesting funds and spending these allocated Segregated Fees. Please see the Student Organizations Council Policy & Project Money Handbook for further information: copies are available at the SOC Office, organization mailbox resource section, or Student Activities.

Segregated Fee Funded Organizations return to top
All student organizations that receive funding from SUFAC or SOC are assigned an account number. Any student organization that receives monies from Segregated Fees must follow the UW System guidelines and state statutes for expenditure of these funds. In accordance with all financial guidelines, UW-Parkside may have established additional spending guidelines for this campus.
Before spending any segregated fee student organizations must complete the Purchase/Payment Request form.

The Student Activities staff will assist with processing paperwork. The Assistant Director’s approval ensures that the student segregated fee expenditure meets the University of Wisconsin System and University of Wisconsin guidelines. The approval also ensures that the organization interested in spending has enough money in their budget to do so.

Expenditures belong in one of three purchasing categories. Determine which category is appropriate and fill out the necessary forms at least 14 business days prior to when the money is needed.

For presenter honorarium or payment to individual (speaker, entertainer): information must be submitted at least three weeks prior to the event to ensure that a check will be available on the day of the event.

For money needed to reimburse individuals from a trip that already occurred: receipts must be turned in and the Student Activities Office will complete a Travel Expense Report. It takes approximately three weeks to receive a reimbursement.

Travel advances are not available so plan accordingly.

For supplies, contracted services, miscellaneous expenses: the University has designated vendors for most supplies. Organizations should check with the Student Activities Office to determine if the requested items must be ordered from one of these vendors.

Please note that several weeks, sometimes even a month or more, is needed to allow for purchase of goods and services or for processing contracts, speaker fees or reimbursements.

Private Accounts return to top
Student organizations may not maintain off-campus savings or checking accounts. A Private Account may be set up through the Student Activities office to serve as a repository for private club funds, such as those obtained through fundraisers, donations and event admission. Private accounts are maintained at no charge. Transactions are not regulated by the University, and may be used however the holding organization sees fit; however, we request that the monies be used in a legal and ethical manner. Most student organizations utilize their Private Accounts to purchase items that cannot be purchased with segregated fees or to help fund events that cannot be covered because of a limited organization budget.

If a student organization is not active for two consecutive years (or has gone defunct) and there is money remaining in the Private Account, this money will be removed from the account and transferred to the Student Organizations Council private account to ensure that funds may be used for UW-Parkside student organization activities instead of reverting to the state treasury as unclaimed property.

If a student organization reactivates within two years of being defunct, funds will be returned.

The Assistant Director of Student Activities is authorized to transfer money form private accounts to cover outstanding UW-Parkside invoices for legitimate orgniational expenses.

Private Account Deposits Sales Tax Considerations return to top
When selling baked goods, candy bars, T-shirts, and other items, as fundraisers be aware that there is a Wisconsin state sales tax. Fund raising deposits made to the private account are subject to 5.5% sales tax which is applied quarterly. See below for a list of taxable and non-taxable considerations.

If the organization is buying merchandise for resale, obtain Parkside’s tax-exempt number from the Student Activities Office before the purchase is made to avoid paying double sales tax.

Remember to build the sales tax into your selling price or be prepared to earn less money from your fundraisers.

Taxable
• Admission to athletic and recreational events, concerts, and dances
• Advertising revenue
• Bake sale proceeds
• Sales of tangible items such as: balloons, book, t-shirts, candles, jewelry, rocks, candy
• Sales of services

Non-Taxable
• Admission to educational events and lectures
• Commission on vendor sales
• Donations
• Dues and membership fees
• Trip deposits
• Deposits on keys, equipment, supplies and uniforms
• Raffle proceeds
• Sales of educational services

SUFAC | SOC Budget & Review Council | Segregated Fee Funded Organizations | Private Accounts | Private Account Sales Tax Considerations