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Accounting Procedures

The account is maintained by Student Engagement & Leadership on behalf of the organization (you will sometimes hear this referred to as a "trustee account" or "RCO account"). For more information about how to use your organization account, refer to the following topic pages:
Responsibility of Organization Officers
Fiscal responsibility is a significant aspect of organization leadership. If you are an officer for a registered campus organization, you are also personally financially liable for the group's expenses. In other words, any expense (including fines or damages) billed to the organization that cannot be paid by funds in the organization's SEAL account may be billed to your individual BARC account. It is important for your organization's reputation and your own financial well-being that your group limit its financial commitments and manage risk appropriately.

On-Campus Expenses

On-campus expenses billed to your organization will be paid only if your organization has sufficient funding in your RCO account; an officer's acceptance of the terms of a rental or service agreement are deemed approval of payment.
These  bills include, but are not limited to:
  • SEAL's annual registration fee and fines, billed upon registration*
  • Furniture Services
  • Instructional Development (Classroom Services/Media Equipment)
  • Transportation & Parking Services
  • University Center
*When an organization does not register, a $65 Account Maintenance Fee is assessed annually. Funds collected are used to defray the cost of campus organization programming. Once an account reaches a $0 balance, no additional fees are assessed and the account is permanently closed.

Associated Students (AS) Funding Sources
Keep in mind that money allocated to your organization by AS entities (e.g. Finance & Business Committee, CAB, Coastal Fund, etc.) is NOT deposited into your organization's RCO account! Refer to the AS Finance & Business Committee for a comprehensive guide to accessing AS funds.

AS allocations do not "roll over" from year to year, so it is critically important to file any purchase orders or reimbursements in a timely manner (within two weeks of your event); otherwise, funding may be rescinded. (The fiscal year is July 1 - June 30.)

Off-Campus Bank Accounts

Registered campus organizations should meet with a banker (not teller) about potentially setting up an account with the Bank of their choice.  Bankers will be able to identify all requirements and will be best able to advise on what type of account makes the most sense.  Things to think about from an organizational perspective:

  • A plan for continuous access from year to year (the need to return to the bank to transition officers)
  • Who has access to transactions/funds, and if there are internal structures in place to hold folks accountable
  • How comprehensive records for each organization, including documentation for transactions, is stored and passed down from leader to leader
  • Accounts could be audited to ensure integrity