Any student organization may have an on-campus student organizational account free of charge at PSU. This is similar to a checking account in nature but the checkbook is held by PSU. Student organizations are NOT allowed to use PSU's Federal tax identification number (EIN) or exemption status under any circumstances. Inquiries are made by PSU to the area banks to ensure any existing off-campus bank accounts are not using PSU's name or Federal tax identification number. PSU strongly recommends that all student organizations use an on- campus account to process all revenues and expenses. These accounts allow for transparency of operations, secure handling of funds and records, and hassle free solutions for the changing of officers each academic year. All student organizations using off-campus bank accounts are responsible for following all applicable State and Federal laws including those relating to sales tax.
To apply for a student organizational account the organization's faculty advisor must make a written request to the Asst. Controller for Business Services (Misty Button, 110 Russ Hall, email@example.com) giving the organization's name, purpose, and faculty advisor's name and PSU ID No.
Once the account has been created an electronic notification will be issued informing the faculty advisor by email of the account name and number. Keep this for future reference as this account number is necessary for the expending and depositing of funds.
To expend funds from the account:
To deposit funds to your account:
Various reports and information links are available through GUS to help maintain this account including the following:
The organization's faculty advisor has access to this information through the GUS system once the account is set-up. Please contact them for any information pertinent to your account.
NOTE TO FACULTY ADVISORS - The Business Office will provide any advisor information on how to access this information on GUS. To set up an appt call Ext. 4150.
SGA ALLOCATIONS FOR STUDENT ORGANIZATIONS
Any student organization who has applied and been awarded allocations from SGA must go through the following to actually receive allocations: