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Bank Accounts: On-Campus vs. Off-Campus

Every recognized student organization has the ability to establish an on campus account for managing their funds.
This is the recommended first step for all RSOs.

RSOs may establish a business checking account with an off campus bank, however this entails additional steps, paperwork and mandatory annual tax filings with the IRS.

There are important steps to follow for each kind of account during the setup process and annually as your organization renews it’s recognition status.

Any dues collected by an organization must to be deposited into the RSO’s bank account. They should never be kept by an individual member.

On Campus Agency Accounts

Agency funds are typically used for student organizations on campus.  Each organization has its own index number which starts with 81XXXX. When depositing funds, the account code should be 549000 and when expensing funds the account code should be 799100.  Funds are deposited at the Student Accounts window.

Establishing an Agency Account:

Step 1: Complete the Application for an Agency Account. This form includes directions on what needs to be filled out, and to whom it should be returned. Upon approval, a fund number will be assigned by the controller which you will receive via campus mail.

Step 2: The Faculty/Staff advisor and treasurer for the RSO must complete the Agency Authorization Form. No disbursements from the account will be permitted until this form is completed. All disbursements require the signature of the advisor AND treasurer. The accounts payable office will carefully compare signatures, so be sure to keep this form up to date, whenever officers or advisors change.

Using an Agency Account:

To request payments for all agency funds, an Agency Disbursement Request must be completed and forwarded to Accounts Payable. When a completed Agency Disbursement Request is received in AP, the signatures are compared to the authorization on file. Documentation is required for all disbursements. In some cases where it’s not feasible to know exactly how much something will cost (party supplies) it is easier to pay for something using your personal funds and then be reimbursed. If you have any questions about what you will need for a disbursement to take place, contact accounts payable.

IMPORTANT: For any disbursement to take place, an itemized invoice or receipt is needed. A credit card receipt that only lists the total amount will not suffice; the receipt must break down the cost of each item, subtotal and tax amount.

If an agency wants to transfer funds from their account to another UCA account they must complete a Supplies and Services Requisition form.  NOTE:  The account may be a university or an agency account.  The form should include:

  • The signature of the agency/department giving the funds
  • The index and account code of the agency giving the funds
  • The signature of the agency/department receiving the funds
  • The index and account number of the agency receiving the funds
  • A brief description

Click here to access Agency Account forms on the Accounts Payable webpage

Make sure you are familiar with and following the University Cash Handling Procedures

Off-Campus Accounts

Off-Campus accounts provide more convenient access to your organization’s funds, but come with other obligations that you need to be aware of.

If your organization wishes to set up an account off campus, note these things:

  • Make sure you set up your organization account using an Employer Identification Number (EIN) and NOT an organization member/advisor’s social security number. For information on how to request an EIN number with the IRS, please visit: https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online
  • You must make sure that you keep the names and authorized users as recorded by the bank are kept up to date. You do not want to lose access to an account and the funds within it. This includes making sure you request updated debit card(s) when authorized users change.
  • You must file your 990-N E-Postcard with the IRS annually. More info can be found on the IRS website.
  • Depending on the amount of money in your account and bank policy, you may be charged a monthly fee by the bank.
  • For information about the tax law regarding social clubs, please view this presentation on the IRS website: https://www.stayexempt.irs.gov/home/resource-library/social-clubs-phone-forum

Before setting up an off-campus bank account, you should consult with the Associate Director of Student Life about the additional responsibilities it will entail in order for your organization to remain compliant with federal tax laws.

Locally, there are a few banks near campus that provide non-profit checking accounts. You should contact each of them to decide which will be the best for your needs.