Student Organization Treasurer Responsibilities

Third-Party Finance Apps Not Permitted. Student organizations are not authorized to use any third-party financial programs including, but not limited to, Venmo, Redbubble, Kickstarter, GoFundMe, PayPal. Third-party financial programs require users to link an external bank account to collect funds which student organization accounts may not do. Student organization business funds must be maintained through Ithaca College/OSE.

Student organization treasurer responsibilities may vary from organization to organization, however all treasurers of OSE recognized student organizations are expected to

  • approve all financial transactions
  • maintain records by tracking every income and expense financial transaction.
  • monthly reconcile student organization records against OSE provided account statements
  • adhere to fiscal policies and procedures

The Student Organization Treasurer Guide is a resource available to assist treasurers with

  • account information
  • keeping financial records
  • how to read account statements
  • understanding different type of funds
  • ways to access student organization funds: credit cards, checks to pay contracts, making donations
  • how to deposit money receive through fundraising and sales
  • ways to receive and deposit gifts

Any students who plan to handle money are required to view the Ithaca College Cash and Check Handling Video and comply to all policies outlined in the training. Students must issue receipts for each and every transaction. The Office of Student Engagement has receipt books available to use for any student organizations who does not have their own for pick up in the Student Activities Center.

Incurring a Negative Balance

If a student organization spends more than is available in their account a negative balance occurs and the student organization forfeits their recognition status. They can no longer hold events, receive/spend funding, or reserve rooms until the deficit is repaid. The Student Organizations Business Coordinator will notify any organization that incurs a negative balance. Their recognition is reinstated as soon as the negative balance is repaid by depositing the funds into their account.