Guidelines for Recognized Clubs and Organizations

UBF requires that clubs or organizations utilizing General Operating Accounts prepare a budget at the beginning of the school year or term.

• Set realistic targets; budgeted income should equal or exceed expenses.
• Document assumptions used to determine budgeted income and expenses.
• Obtain feedback on the final budget from a faculty member, staff advisor and,or club members. 
• Ensure that expenses incurred are in line with the annual budget.

Student clubs and organizations should use UBF approved electronic payment processing platforms to collect revenue. In limited circumstances (e.g. raffles), cash can be collected. 

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 UB Marketplace. 
• Develop standard operating procedures for all cash handling.
• Use your approved funding source for all financial activity.
  
• Use pre-numbered receipts when collecting cash.
• Maintain a cash receipts log.
• Reconcile cash receipts log to SIRI 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.

Student clubs and organizations should use UBF approved electronic payment processing platforms to collect revenue.

Using UB Marketplace, student clubs and organizations can accept credit, debit and electronic check payments for products and services. 

Donors can make donations directly to a student club or organization's fund via UB's giving page. 

• Any fundraising that involves the UB name or logo should be deposited with an approved UB funding source. 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. 
• Follow the Raffle Policy for University Fundraising Efforts and complete the Raffle Propsoal Request Form

It is the club or organization advisor's responsiblity to make sure that funds are used for purchases that support the mission of their club or organization.

Expenditures paid from University at Buffalo Foundation (UBF) funds are subject to specific requirements. Clubs and organizations must follow the Allowable Use of Funds Policy.

If a student club or organization must comply with the Gifts, Prizes and Awards Policy when recognizing community members, employees, and students for their merits and contributions in meaningful ways through the use of gifts, prizes, and awards.

Student clubs and organizations who are paying for student travel must comply with the Travel Policy. 

Student clubs and organizations can make purchases or pay bills using:

• UBF Disbursement Request, signed by their advisor and a copy of the invoice
• Shopblue 

• UBF Disbursement Request, signed by their advisor and a copy of the receipt
• Concur (for student employees only)

• Establish a process to review and pay bills monthly, preferably through electronic funds transfer (EFT). Do NOT use cash.
• Ensure that two officers sign all payments.
• Review vendor invoices for accuracy prior to payment.
• Maintain copies of vendor invoices and evidence of payment in accordance with the Record Retention and Disposal Policy.
  
• Log all payments immediately.

All equipment purchased by a student club or organization is property of the University at Buffalo. Title shall vest with UBF and the “Owner” shall be defined as the department recognizing the club or organization who is the primary user of the equipment.

• Equipment over $5,000 must be purchased with Shopblue. Faculty or Staff advisors can assist students with filling out an eReq or purchasing on Shopblue.
• Once the equipment is purchased, UB is required by New York State, SUNY and RF to record assets that have a value greater than $5,000, are not consumables and have a probably life expectancy of one or more years. Asset Management will reach out to the organization’s advisor to get additional information on the asset and to place an asset tag on it.

• Equipment under $5,000 can be purchased through the UBF Disbursement Request.
• UB identification tags should be placed on high-risk equipment items costing less than $5,000. High-risk items include, but are not limited to, laptop computers, cameras, projectors, and items removed from campus.  A Property Removal Authorization Form must be completed for all items removed from campus.
• The responsibility for tagging items under $5,000 lies with the department to which the asset belongs. Contact Asset Management if you need additional tags.
• Faculty or Staff advisors are required to periodically spot-check high-risk items costing less than $5,000 to verify their existence and condition.  Faculty or Staff Advisors are encouraged to keep an inventory of tagged high-risk items to assist with this periodic review. High-risk items should be reviewed annually. 

• Reconcile SIRI reports to receipt and payment logs monthly.
• Document all reconciling items.
• Resolve errors identified.
• Obtain officer(s) and,or a faculty or staff advisor’s approval for the reconciliation.

There are no deposit or withdrawal fees.

UBF is responsible for all financial reporting, tax filings and audits.