Registered Student Organization Handbook

Managing Your Account

  • Student organizations should manage the finances of the organization in a business-like manner.
  • RSOs collecting membership dues, donations, or engaging in fundraising activities for the benefit of the organization should maintain a treasurer position on its executive board, and should maintain a local bank account in the name of the organization.
  • Organizations utilizing a university-maintained account must adhere to all purchasing policies and procedures of Grand Valley State University.
  • The organization must stay current with financial obligations.
  • The treasurer should develop an annual budget, maintain records of income and expenses, and regularly report the financial status of the organization to the officers, advisor(s) and the general membership.
  • Financial records may be reviewed by the University upon request.
  • Student organizations that maintain a bank account must do so with a local bank (in Ottawa or Kent County).
  • The bank account must be in the name of the organization on file with the Office of Student Life.  The address on the bank account must be the Student Organization's campus address (SOC mailbox).  To start an account, the Office of Student Life will provide a letter verifying the organization's registration status, campus address, and name of the faculty/staff advisor.
  • Checking accounts must be on a two-signature system (two authorized signatures on the check required for processing).
  • Suggested authorized signators include the Treasurer, President, and the campus advisor.

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Page last modified October 16, 2013