Financial Regulations for Student Organizations
- All student organizations receiving dues, donations, allocations, or other funds are required to conform to the following financial regulations. These regulations are an expression of Carleton College Policy with similar stature to those in the Carleton College Code of Conduct.
- All student organizations officers should be familiar with the Carleton Student Association (CSA) Financial Regulations.
- Each spring all CSA chartered organizations that desire funding for the following fiscal year (July 1-June 30) must submit their proposed budgets to the CSA Budget Committee. The proposed budget must include any anticipated income.
- During the year, requests for additional funds or capital reserve funds must be presented to the Budget Committee for Approval. To transfer more than $500.00 to another CSA chartered organization the transfer request form must be signed by the CSA Treasurer.
- CSA allocations are for a given fiscal year. Under standard operating procedures, any surplus funds in an account revert to the CSA at the end of the given fiscal year. Dependent surplus funds, as described in paragraph 10 of the CSA Financial Regulations, may carry over to the following year. It is the organization treasurer’s responsibility to submit the appropriate request to the Business Office at year’s end.
- The Business Office provides the technical support for the student organization’s bookkeeping operations; that is receiving income, issuing payments, providing up-to-date budget information and billing for internal charges.
- The Business Office oversees all student organization accounting procedures and is available to assist student organizations with financial questions.
- Individual organizations are responsible for knowing their account balances. Financial records are considered open for inspection at any time by the CSA Treasurer, CSA Budget Committee, the Business Office, and the Director of Student Activities.
- All student organization income–including fundraised money–must be deposited with the College Cashier into the relevant student organization account. Bank accounts outside of the college are not permited.
- All disbursements must be made by check, e-check*, or credit card and are to be in payment of only those bills and charges which have been properly authorized by organization officers. Appropriate substantiation, such as invoice, statement, or original receipts must be provided with the check request. *All students are expected to be signed up for electronic reimbursements.
- Check Request Forms are available in the Student Activities Office, Business Office, and on the Business Office website and must be signed by the organization’s president or treasurer, the CSA Treasurer, and the Director of Student Activities. Please allow at least seven business days for payment processing by the Business Office.
- Student organizations may not incur any charge that will overdraw their accounts, even if the overdraft is only temporary.
- All CSA funds and other funds raised through outside activities should be deposited into their college account and must be spent in a way consistent with the organization’s goals as stated in its charter.
- CSA Funds may not be spent to reimburse individual students for food or drinks unless those expenses are part of a group activity authorized by the CSA Budget Committee and/or the CSA Treasurer. Alcoholic beverages will never be funded by CSA funds. (Refer to College Alcohol Policy in the Student Handbook).
- Mileage for personal vehicle use is reimbursed at the official college rate, which can be obtained in the Business Office. A completed travel waiver must be completed with the Student Activities Office prior to travel or the reimbursement request will be denied.
- No group may use CSA funds to pay for performances by a Carleton student(s) without explicit prior approval from the CSA Budget Committee and the Director of Student Activities.
Sanctions Against Individuals
- The judicial authority of the College extends to violations of these regulations. Sanctions as outlined in the Statement of Rights and Responsibilities may be imposed against students who as individuals or as organization officers are determined to have violated these financial regulations.
- When, in the opinion of the CSA Treasurer and/or the Director of Student Activities, it appears that an individual has improperly used organization funds through willful deceit, they will be so advised by the Director of Student Activities and asked to justify the actions. If after ten academic days or thirty calendar days, whichever comes first, the individual has neither made a satisfactory explanation nor informed the Dean of Students that he or she wishes to challenge the assertion through the judicial process, the student will be billed if the transaction in question is $100.00 or less. Amounts over $100.00 must be handled through the College Judicial System.
- Organizations are encouraged to use the Student Activities Office for assistance with making large purchases or when the reimbursement process is not feasible.
- NO STUDENT MAY ENTER INTO A CONTRACT ON BEHALF OF THE COLLEGE OR A STUDENT ORGANIZATION. Contact the Student Activities Office to negotiate all legal contracts.
- Failure to abide by these regulations may result in the freezing of the organization’s account, and may result in the imposition of the penalties.
Last Revised: May 11, 2018
Last Reviewed: February 2, 2022
Maintained by: Student Activities