Building partnerships through collaboration.
Financial Guidelines for Recognized Clubs and Organizations
It is important for students and faculty or staff advisors to understand their responsibilities and the potential liabilities when managing an organization's funds. These guidelines outline requirements and best practices for managing funds.
Three-Step Process
There are three primary steps to forming a sanctioned university club or organization:
Become Recognized
Before clubs or organizations can set up an account, they must be recognized by the university.
The Student Organization Process for Recognition is managed by Student Engagement. Student organizations can learn more about this process by visiting Student Engagement's webpage. Student Engagement also offers workshops and consultations for student organizations that would like to become recognzied.
Request an Account
All student clubs and organizations recognized by a student government (funded by the mandatory student activity fee or self supporting) must use Faculty Student Association (FSA) as their primary fiscal agent for accounting services.
Other clubs and organizations can request an account (after being recognized through the Student Organization Process for Recognition). If they are unsure which account type they require (University at Buffalo Foundation (UBF) Agency Account or UBF General Operating Account), they should contact Financial Management for assistance.
UB-Approved Accounts Only
If student clubs use the university’s name, logo, or facilities for club activity, funds should be deposited into a UB-approved account. Revenues should not be deposited into a personal or third-party account.
| Account Type | Funding Source | Club Type | Application Information |
|---|---|---|---|
| General Operating Account | UBF | Clubs or Organizations recognized by the university but NOT recognized by a student government or as independent entities. | General Operating Account Request Form |
| Agency Account | UBF | Clubs or Organizations recognized by the university and who are independent entities (501c, LLC, Inc.). Agency Accounts are for Local Chapters of National Organizations. | Agency Account Request Form |
| Student Government Agency Account | FSA | Student Clubs or Organizations recognized by one of the seven student governments. | Clubs or Organizations will receive their account as part of the recognition process. |
If you are unsure of what account type you need, please contact us at UBS-GroupAccounts@buffalo.edu.
Understand Your Fiscal Responsibilities
Each account type has specific policies and procedures that must be followed by club officers and faculty or staff advisors.
Each of the seven recognized student governments prepare an annual budget that is submitted to the University President's Designee prior to the start of the fiscal year. A copy of this budget is also provided to FSA so that they can enter the budget into the accounting system.
Clubs that fall under these seven entities should work with their respective entity to determine their annual budget allocation so that they can plan their activities.
Depositing Revenue
All ticket and merchandise sales should run through the Student Union Ticket Office. Please contact the Student Union Ticket Office Coordinator at (716) 645-2055 or Request Additional Information (via UBLinked)
Other deposits can be brought to FSA in Fargo Quad, Suite 146, Buffalo, NY 14261-0050.
Cash Handling
All student governments, organizations, clubs or groups should follow the university's Safeguarding Cash and Cash Equivalents Policy.
- Cash handling is very high risk. Eliminate or reduce cash through the use of University approved electronic payment processes.
- Develop standard operating procedures for all cash handling.
- Use your approved fiscal agent for all financial activity.
- Use pre-numbered receipts when collecting cash.
- Maintain a cash receipts log.
- Reconcile cash receipts log to fiscal agent reports on a monthly basis.
- Ensure adequate segregation of duties for cash handling. Specifically, one individual should handle cash, one individual should prepare the deposit, and one individual should reconcile receipts to the deposit to ensure agreement.
- Restrictively endorse checks received “for deposit only, organization name" upon receipt.
- Deposit cash and checks daily, at the close of each business day.
- Safeguard cash and checks awaiting deposit in a secure location, either in a locking safe or lockbox.
All ticket and merchandise sales should run through the Student Union Ticket Office. Please contact the Student Union Ticket Office Coordinator at (716) 645-2055 or Request Additional Information (via UBLinked)
Paying Bills
Student clubs and organizations must fill out an FSA Requisition Request and receive a PO before they can purchase items.
Credit Cards are also available through your student government.
Best Practices for Reconciling
- Reconcile approved fiscal agent reports and to receipt and payment logs monthly.
- Document all reconciling items.
- Resolve errors identified.
- Obtain officer(s) and,or a faculty advisor’s approval for the reconciliation.
Reconciling should be performed by an individual other than those responsible for signing off on payments.
- Any fundraising that involves the UB name or logo should be deposited with an approved UB fiscal agent. Fundraising revenues should never be deposited into a personal or third party account.
- Fundraising should benefit the student club, group or project, rather than to support a specific student.
- Go Fund me or similar public crowdfunding sites should NOT be utilized.
Accounting fees are established as part of the Student Government and FSA contracts.
Financial reporting, tax filing and audit requirements are outlined in the Student Government contracts with FSA.
Frequently Asked Questions
General Operating and Agency Accounts (UBF) Only
- Financial information is available centrally and can be easily transitioned to new executive board members each year via email.
- You can accept online credit card payments for dues via UBF Checkout.
- You are not putting board members at risk by opening up accounts under board member’s names and social security numbers.
General Operating and Agency Accounts (UBF)
Instruction on how to submit a deposit can be found in the Depositing Revenue and Cash Handling section of the Financial Guidelines for Recognized Clubs and Organizations.
Student Government Agency Accounts (FSA)
All ticket and merchandise sales should run through the Student Union Ticket Office. Please contact the Student Union Ticket Office Coordinator at (716) 645-2055 or Request Additional Information (via UBLinked)
Other deposits can be brought to FSA in Fargo Quad, Suite 146, Buffalo, NY 14261-0050.
General Operating and Agency Accounts (UBF)
Clubs and organizations can request a check by filling out a UBF Disbursement Request. Additional information and a link to the form can be found in the Paying Bills and Reconciling section of the Financial Guidelines for Recognized Clubs and Organizations.
Student Government Agency Accounts (FSA)
Student Clubs and Organizations must fill out an FSA Requisition Request and receive a PO before they can purchase items.
General Operating and Agency Accounts (UBF) Only
Instruction on how to set up UB Marketplace can be found in the Accepting Electronic Payments section of the Financial Guidelines for Recognized Clubs and Organizations.
General Operating and Agency Accounts (UBF)
While checks are cut daily, please allow up to 7 business days for processing.
Student Government Agency Account (FSA)
Contact FSA for additional information.
General Operating and Agency Accounts (UBF)
No, however, cash advances are available in special circumstances to cover specifically pre-identified club expenditures that cannot easily be paid for by an individual and reimbursed via a UBF Disbursement request. Advances must be "cleared," post purchase, by providing receipts and business purposes for the items purchased. Instruction on how to submit a UBF Disbursement Request can be found in the Paying Bills and Reconciling section of the Financial Guidelines for Recognized Clubs and Organizations.
Student Government Agency Accounts (FSA)
Student Governments do not have credit cards. Individual students can get reimbursed if they use a personal credit card or debit card to make a purchase.
General Operating and Agency Accounts (UBF)
No, Venmo and other peer to peer cash apps are not Payment Card Industry (PCI) compliant. Clubs may use UB Marketplace to accept electronic payments. Instruction on how to set up UB Marketplace can be found in the Accepting Electronic Payments section of the Financial Guidelines for Recognized Clubs and Organizations.
Student Government Agency Accounts (FSA)
Contact FSA for additional information.
General Operating and Agency Accounts (UBF)
No, GoFundMe is not Payment Card Industry (PCI) compliant. Clubs may use UB Marketplace to accept electronic payments. Instruction on how to set up UB Marketplace can be found in the Accepting Electronic Payments section of the Financial Guidelines for Recognized Clubs and Organizations.
Student Government Agency Accounts (FSA)
Contact FSA for additional information.
General Operating Accounts (UBF)
Information on funding restrictions can be found in the Allowable Use of Funds section of the Financial Guidelines for Recognized Clubs and Organizations.
Agency Accounts (UBF)
Restrictions on use of funds are dependent on agreements signed between UBF (the fiscal agent) and the independent entity.
Student Government Agency Accounts (FSA)
Clubs and organizations recognized by a Student Government must follow the Use of Funds section of the SUNY Student Activity Fees - Mandatory Policy.
General Operating or Agency Accounts (UBF)
Yes. Via Strategic Information Reporting Initiative (SIRI). Login information to SIRI can be found in the Paying Bills and Reconciling section of the Financial Guidelines for Recognized Clubs and Organizations.
Student Government Agency Accounts (FSA)
Contact FSA for additional information.
General Operating and Agency Accounts (UBF) Only
Yes. Access will be provided to designated advisors and board members during the onboarding process. More information on SIRI can be found in the Paying Bills and Reconciling section of the Financial Guidelines for Recognized Clubs and Organizations.
General Operating and Agency Accounts (UBF) Only
Updates to SIRI are made nightly and include all transactions processed during the business day.
General Operating and Agency Accounts (UBF) Only
Information on fundraising can be found in the Fundraising section of the Financial Guidelines for Recognized Clubs and Organizations.
General Operating and Agency Accounts (UBF) Only
There are no deposit or withdrawal fees.
General Operating Accounts (UBF)
Clubs and organizations are responsible for submitting all receipts to UBF. UBF is responsible for all financial reporting, tax filings and audits.
Agency Accounts (UBF)
Clubs and organizations are responsible for submitting all receipts to UBF. UBF will provide account reports to signatories on the account but the independent entities are responsible for maintaining their own financial reporting, tax filing and audits.
Student Government Agency Accounts (FSA)
Financial reporting, tax filing and audit requirements are outlined in the Student Government contracts with FSA.
General Operating and Agency Accounts (UBF) Only
- Transfer funds from the club's bank account to the new UBF account via a check, made payable to UB Foundation.
- Contact the club's current bank for information on how to close the old account.
Contact an Expert
General Operating and Agency Account Requests
Ashley Butcher
Cost Accounting and Financial Reporting
Financial Management
Phone: 716-645-1521
Email: ambutche@buffalo.edu
UBF Financial Procedures
Christopher Decker
Senior Director of Administration
UB Foundation
Phone: 716-645-8740
Email: cdecker@buffalo.edu
FSA Financial Procedures
Michael R. Grela
Accounting Manager
FSA - Campus Dining and Shops
Phone: 716-645-2954
Email: mrgrela@buffalo.edu