General Finance Expectations

  • General Best Practices
    • RSOs should practice at minimum a zero sum balance. (Income=Expenses)
    • RSOs should create a semesterly and/or annual budget
    • RSOs should keep their own ledger to compare with account statments
    • RSOs should keep copies of receipts, invoices, etc and have a storing and transition of information process
  • MSUFCU Off-Campus Accounts
    • Registered Student Organizations are allowed off-campus accounts. 
    • MSU is not responsible for the management or liable for any misuse of these accounts. 
    • MSUFCU and the Office of Spartan Experiences have a collaborative relationship to provide RSOs non-university accounts. To find out more about getting an MSUFCU account visit: Please note the following:
      • RSOs must be registered and their officers must match those they list on Involve@State with all MSUFCU paperwork.
      • RSOs must have a tax ID number (EIN).
        • Refer to tax section of handbook.
      • RSOs will utilize the same MSUFCU form to update signers after the account is established.
      • MSU Federal Credit Union (MSUFCU) accounts are off-campus accounts and are separate from your RSO's on-campus account.
    • Transfers cannot occur between MSUFCU off-campus accounts and MSU on-campus accounts.
  • Tax-Exempt Status Information
    • RSOs do not fall under the Michigan State tax exempt number.
    • More information to come on attaining an EIN.
  • Issuing Gifts and Prizes
    To be released soon.

General Finance Expectations PDF

Updated 12 August 2022