Registered Student Organizations have the option to have an on-campus RSO financial account. This account is managed through a partnership of the RSO and the RSO Business and Financial Services (RSOBFS). Upon request any RSO may create an on-campus account. Accounts must be renewed annually. The following sections should be used to help guide the RSO in co-managing the account within the appropriate institutional financial regulations.
Definitions are listed as they first appear in the following sections.
The RSO Finance Tool on Involve@State will be able to provide groups their MSU account number and balance information.
Registered Student Organizations may deposit funds into their on-campus account via two different processes: 1) Cash/Check Deposit and 2) Internal Transfer.
To ensure quick and easy processing please note the following:
Cash/Check Deposit
You may deposit cash and checks via the following process:
Internal Transfer
RSOs may have campus partners transfer funds from a department or office account to their RSO on-campus account. To do this you must provide the department or office your “AR” or “AU” account number.
Requirements for ALL processes
Funds may be spent from an on-campus account in one of the following ways:
Reimbursement/Vendor, Speaker, Performer Payments/Donation Form
Credit Card Purchase Request Form
Move Money to Off-Campus Account Form
An overdraft occurs when an RSO’s on-campus account does not have enough funds to cover an expense and becomes negative. When this occurs, the following steps will take place.
Monthly Financial Statements will be emailed to the authorized signers and the advisor of all registered RSO that renewed their on-campus account.
Please see the financial resource section for more information on how to read the monthly financial statements.
Monthly Financial Statements are in accounting number format, numbers in parentheses () are negative. i.e ($200) is considered a negative amount of $200.
It is the responsibility of the authorized signers to check the statement against the RSO’s records. If there is a discrepancy an authorized signer will need to reach out to the RSOBFS at Stuorgs@msu.edu.
There are several avenues in which a RSO On-Campus Account may be closed:
RSO Initiated On-Campus Account Closure
If any RSO wishes to close their on-campus account, a letter of intent should be emailed to the RSO Team at involve@msu.edu. Within the letter it should indicate that they wish to voluntarily close the on-campus account and what to do with any remaining balance (donate to another RSO [include account numbers], move to an Off-Campus Account [will need to complete the form on Involve@State], etc).
Merging Multiple RSO On-Campus Accounts
In situations when RSOs are merging their organizations and both have on-campus accounts, they will be required to determine which account to close and which to remain open and email a letter of intent of the “merging” of the accounts to involve@msu.edu. This letter should indicate the decision to merge vote, which account will be closed and which account will remain active. All funds will be transferred into the active account.
RSO Dissolution
If any RSO votes to dissolve the organization, a letter of dissolution should be emailed to the RSO Team at involve@msu.edu. Within the letter it should indicate the dissolution vote results and what to do with any remaining balance (donate to another RSO [include account numbers], move to an Off-Campus Account [will need to complete the form on Involve@State], etc).
University Initiated On-Campus Account Closure
The University reserves the right to close or expire a RSO On-Campus Account at its discretion. This includes the Overdraft Policy, other RSO Conduct Proceedings and/or other misuse of funds.
RSO On-Campus Accounts are charged a monthly service fee of $5.00. This monthly fee covers the costs of services by the University. Such services include, but are not limited to, the monthly preparation of operating statements detailing all transactions (see “Monthly Operating Statements” Section below), account administration and maintenance, the payment of expenses through the University’s payment system, and the ability to use certain University service centers. These monthly service fees are automatically charged to an organization’s account each month even if there has been no activity in the account. ASMSU is covering the $5 monthly service fee for RSO on-campus accounts for the 2022-2023 academic year.