Club Financial Policies

Ready to manage club funds?

Take a moment to get familiar with the following policies and procedures. They’re intended to assist club officers and advisors with the financial operations of their clubs.  Advisors should review this information with their club officers at the beginning of each year to eliminate any confusion or possibly delays of club operations.

Know the club policies

  • Student organizations receiving funds from SCTCC, Student Senate and/or raising funds must adhere to all related SCTCC, Minnesota State, and State of Minnesota Department of Finance policies in all activities.
  • All organizations must comply with the Equal Opportunity/Title IX policies.
  • All Student Senate-funded organizations are required to maintain all related accounts with the Business Office.
  • All equipment purchased with Student Senate funds remains the property of St. Cloud Technical and Community College and should be tagged appropriately.
  • Student Organizations are responsible for entering into a formal Minnesota State professional services contract with speakers or service providers as required by SCTCC, Minnesota State and State policy. Contracts must be reviewed and approved by the business office prior to signature. Contracts must be signed by the club advisor and club treasurer.
  • Any and all funds raised by student organizations must be deposited into Business Office accounts. Funds are dispersed according to related SCTCC Business Office, Minnesota State, and State of Minnesota Department of Finance policies.
  • Student Senate funds shall not be used to make a direct contribution to charitable organizations or individuals.
  • Funds may not be used as security for loans
  • Program cost centers and general fund monies cannot be used to fund club activities
  • Active club membership is determined by those paying club dues. Students must pay their dues on an individual basis and deposit them in their respective club accounts at the SCTCC Business Office.
  • Club funds are to be used for an activity, event, or program benefiting all members of the organization or St. Cloud Technical and Community College.
  • All requests submitted for funding approval must have both the advisor’s and Director of Student Life’s signatures.
  • Advisors should verify that funds are spent for intended purposes.  The advisor is responsible for all vouchers and other financial records.
  • Advisors will not be reimbursed for purchases made without prior authorization.  Advisor expense reports must be signed by the Director of Student Life and the club treasurer. 

Submitting signature files to Business Office

Each year the Business Office must receive club’s officer and advisor names and signatures on file. Funds cannot be dispersed without a current Signature File. This is done to prevent any theft or abuse of club funds.

Depositing funds at the Business Office

All funds related to club activities must be deposited and receipted at the SCTCC  Business Office. Club advisors, officers, and members must complete a Deposit Form so funds can be accurately deposited into the proper account.

After funds are deposited, the student will get a copy of the deposit form with a receipt attached to it. This is to be returned to the club treasurer for record keeping. A second receipt will be given to the student for his/her personal records. Funds received for the benefit of the club must be brought to the Business Office by the club advisor or club treasurer. If a student would like reimbursement for something he or she paid for, a completed Request for Refund Form ,signed by the club advisor and treasurer, must be submitted to the Business Office.

Submitting purchase orders for expenses

In order to pay for club expenses, a representative from the club officer team or advisor must first fill out a Business Office-approved Purchase Requisition Form. Please follow the precise procedures listed below when submitting Purchase Requisition Forms.

  • Purchase Requisition Forms must be completed prior to the purchase to ensure that funds can be secured. (MN Department of Finance Policy)
  • Purchase Requisition Forms involving club funds must be signed by the advisor, the club treasurer, and the Director of Campus Life.  
  • Purchase Requisition Forms should be submitted to the administrative assistant of the club advisor's division. He/She will return the processed form with a Purchase Order (PO) to the club advisor, who can then place the order. An order cannot be placed until the Purchase Requisition Form is processed and the PO number is assigned. 
  • Please allow a minimum of two weeks for the Purchase Requisition Form to be  processed.
  • When submitting a Purchase Requisition Form, a document listing the club members who received the goods and services must be attached. (Example 1. Only nine members of a club attend state competition and plan on staying at a hotel. A list of these nine students must be attached to the PO.  Example 2. The club has a pizza party for all members at the end of the year. Simply write “entire club” on the PO request.)  
  • When the merchandise is received with a packing slip, the packing slip must be dated and signed by the receiver. The packing slip must be attached to the original invoice and “ok to pay” marked on the invoice along with the PO number and a valid signature.  Documents must be turned in to the Accounts Payable department in the Business Office. 
  • If there is no packing slip, the original invoice marked “ok to pay” and a valid signature must be submitted to the Accounts Payable department in the Business Office.
  • When organizations/businesses will not accept purchase orders to secure payment, the college credit card may be used.  Purchase orders and necessary documentation must be included at the time the card is used.
  • All other methods of purchases and payments must be approved by the Director of Campus Life in consultation with the Business Office.

Making cash advances

Clubs who’ve exhausted all of the methods above and need cash for meals or to pay for hotels that won’t take a purchase order should follow the procedures listed below.

Determine the cost of the hotel, meals, or other items needed and complete a purchase order payable to St. Cloud Technical and Community College. Include an explanation why you are requesting the cash advance and a list of the students who will be receiving this money or the advisor who will be in charge of the money when traveling.  Please allow one week as stated above, plus two extra days to receive the money from the bank.

Once the money is received at the Business Office, clubs can choose from the following options:

  • Students can come to the Business Office and sign for the money. 
  • An appointment can be made for a representative from the Business Office to meet with club members at a certain on-campus location to acquire student signatures and distribute the money. Please set up a time and place with club members and the Business Office. 
  • The advisor/treasurer can sign out the money at the Business Office, then coordinate the acquisition of student signatures and distribution of money.
  • A purchase order can be completed for each student and an individual check written for each student, if it involves a limited number of students. If this involves a large number of students, the process becomes very time consuming for the purchasing agent.

It’s the club’s responsibility to collect receipts from the students for the money received.