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Club Policy - Financial Affairs


Financial Affairs

  1. All recognized student clubs and organizations are eligible to be funded by the Student Senate. Newly chartered clubs can be given a starting budget of $300 upon request of Student Senate.
  2. Clubs must have a formal budget process in place. This process must state how money is recorded by the club, who is responsible for tracking money, relaying money to Student Senate bookkeeper, how to keep receipts, who maintains the books, who reports the budget to the group and to Senate, who will request money for the club, and who keeps the books. Club advisor are strongly encouraged to archive the budget information from year to year rather than from student officer to student officer. Ultimately, it is the advisor responsibility to oversee the club’s money and records.
  3. All expenditures of club funds must conform to the State University of New York guidelines for the use of student activity funds. These guidelines prohibit, among other things, purchase of alcoholic beverages, donations to charitable organizations, and contributions to political parties, candidates, or interest groups.
  4. No outside checkbooks or unauthorized use of cash is permitted.
  5. Official roll over policy (Approved on May 2, 2016)

    · Only fundraised funds may be considered for roll over. Unused funds allocated by the Student Senate will not be rolled over from one year to the next.

    · In order to facilitate determining which funds are being used for purchases, the current purchase orders will be updated so that the person requesting a check must indicate whether the funds are from the club funds or funds that have been fundraised.

    · Only fundraised funds after expenses will be considered. This means if a club spends $100 on supplies for a fundraiser and makes $400 during the fundraiser, only $300 will be considered as fundraised.

    · All funds must be deposited into the club account and be included in the cash assets for the club in order to be considered as fundraised.

    · Any fundraising done for donation purposes must be donated in full to the designated organization within the fiscal year.

    · No roll over will be considered unless submitted at the time of the budget request. 

  6. Purchases made off-campus require a New York State Tax Exempt form.
  7. Clubs who wish to have a starting budget each Fall semester must participate in the budget hearings at the end of the previous Spring semester. Each club must present their budget requests to the Student Senate for approval. See Student Senate Annual Budget Request Form.
  8. Remember Senate does not hear budget requests during the first three weeks of meetings during the Fall semester. Schedule with the Director of Campus Life.

 

How to purchase items needed for your club, flyers, bake-sale, etc.

· Fill out a requisition form for the item you want to purchase

  • For items like postage and copy paper, there will be a bill from the college. When the club fills out the requisition, it must be payable to CCC. It must also be signed by the Advisor, the Dean of Students or his designate, and the Student Senate Treasurer
  • Every check must be signed by 2 people: Dean of Students or his designate and one of the other designated signers.
  • Every club purchase must have prior approval, which is obtained through the completion of a purchase order. The Student Senate may not honor purchases, which have been made without a purchase order. All purchases required a receipt before reimbursement can be made. Purchase orders must be submitted at least 48 hours prior to when a check is needed. Checks may not be available on time if purchase order is submitted late. It should be noted that all purchased items are owned by the activity fee paying students and Student Senate would take possession of items if club dissolves.

Can we hold a fundraiser? What do we do with the money?
· Yes
· Student clubs and organizations are permitted to do their own fundraising. The Dean of Student Affairs must approve all fundraising activities.

  • The Student Senate Bookkeeper must deposit all club-generated revenue monies collected for fundraising otherwise it can be stolen or misplaced. All fund-raised revenue will be credited to the club’s account for use exclusively by the club for the remainder of the academic year.
  • Money collected for the purpose of fundraising for a cause will require that the club request a check, made in the total amount of monies raised be issued by the Senate Bookkeeper.

· If your club raises money, turn it in to the Senate Bookkeeper!!!
· Student Senate funds cannot be donated but fundraiser money can be used for this purpose.

Extraordinary and Large (expensive) Purchases
· If the item is not in the budget, then the club must come to the Student Senate and make a request by filling out the Special Budget Report