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On-Campus RSO Financial Accounts

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

    Definitions are listed as they first appear in the following sections.

     

    • On-campus account (a.k.a. “agency account”)
      • Is an account through the MSU Controller’s office. This account is overseen by the RSOBFS.
        • This account does NOT allow the following:
          • Debit cards.
          • Cash withdrawals.
        • This account does allow the following:
          • See the “Spending Funds from an On-Campus Account” section of the RSO Handbook.

     

    • AR Account number
      • On-campus account numbers that begin with “AR” means the RSO is considered taxable.
        • If the RSO does have a tax exempt number please report that information to the RSOBFS in order to update the account type with the MSU Controller’s Office.

     

    • AU Account number
      • On-campus account numbers that begin with “AU” means the RSO is considered tax-exempt. 

     

    • Off-Campus account
      • Is a bank account held outside of MSU (i.e MSUFCU, Chase).

     

    • Deposit 
      •  Adding funds to the on-campus account

     

    • Reimbursement
      • Making a payment to an individual who made an upfront out-of-pocket purchase.

     

    • Authorized Signer(s)
      • Authorized Signers are the individuals who have the authority and responsibility to submit and approve income and expenses for their on-campus account.

     

    • Vendor, Speaker, Performer
      •  An individual or company providing a good or service.

     

    • Donation
      •  Giving funds to an organization with no expectation of benefit in return.

     

    • Credit Card
      • RSOBFS has a credit card that the office can use to make online purchases, pay for conference fees, hotel fees, catering, etc. on behalf of the RSO.

     

    • Overdraft
      • A negative balance (below $0.00) in your on-campus account. 
        • Overdrafts and expenses are written in accounting format. This means all negative numbers are in parentheses.

     

    • Internal transfer
      • A transfer of funds between two ON-campus accounts that is facilitated by the RSOBFS and/or campus partner.

     

    • Cash Receipt Cover Sheet
      • A document required by the Cashier’s Office to ensure accuracy of the deposit.
        • This is provided by the RSOBFS.

     

    • Expired account
      • An on-campus account that can only receive deposits or income. No other activity is allowed for an expired account.

     

    • Closed account
      • An on-campus account where no activity, including deposits, reimbursements, etc., is allowed.

     

    • Monthly financial statement (a.k.a. monthly operating statement)
      • A document provided by the RSOBFS monthly to show detailed activity in the on-campus account for the past month.

     

    • Dissolution
      •  The closing or dismissal of a Registered Student Organization. 
  • What is an On-Campus Account
    • It is a 6-digit account number that begins with an AR or AU.  
      • This account is with the MSU Controller’s Office and is supported by the RSOBFS. 
      • Having an On-Campus account does not put the RSO under MSU’s tax exempt status. 
    • Your organization MUST have an on-campus account if: 
      • The RSO is generating revenue at on-campus events. 
      • The RSO is accepting funds from a campus partner (ASMSU, COGS, RHA, Department, Office). 
      • If the RSOBFS is purchasing items via Amazon, approved vendor companies (licensed items), websites for general items. 
      • If the RSOBFS is paying a vendor on behalf of the RSO (DJ, Speaker, Photographer, entertainment company). 
    • It is advised RSOs have an account if: 
      • The RSO hosts on-campus events. 
        • RSO may use their on-campus account to pay for on campus services such as rentals, catering, etc. 
        • Some departments do not accept cash (Physical Plant, Telephone Charges, Mail Processing, Computer Store, Data Processing Charges, Purchasing) 
    • On-Campus accounts do not: 
      • Place the organization under the University’s tax-exempt umbrella. (See tax exempt section for more information) 
      • Make the University liable for any of the organization’s actions. 
      • Grant the organization the right to use the University’s payroll system. 
    • The University, through the Division of Student Involvement and Leadership and Engagement, reserves the right to review and audit all RSO accounts at any time. 
    • This account must be renewed every year during the registration process. 
      • If your organization did not renew the account during registration, please contact Stuorgs@msu.edu to find out how. 
  • Creating an On-Campus Account

    Registered Student Organizations who need to create an account will request to have an on-campus account through an application process that is approved by both the Division of Student Involvement and Leadership and Engagement and the Controller’s Office. The process to apply for an account is: 

    • Complete the On-Campus Financial Account Application. 
      • Information needed to complete the form: 
        • President, Vice President, Treasurer and Secretary must be listed as Responsible Parties. 
          • MSU Email and a phone number will need to be provided for each. 
          • If you have co-positions of any of these, please indicate one for each position. 
        • The adviser serves as a responsible party to aid in reviews of expenditures as needed and is a mandatory approver for all expenses more than $500 (or a lesser amount if laid out by an organization and placed as a reviewer during the expense submission). Please see the RSOAH for more information. 
          • MSU Email, phone number and MSU Department Name or Religious Affiliation 
      • Upon submission of the On-Campus Financial Account Application, it will be reviewed and must be approved by the RSO Team and the Controller’s Office.  
        • The RSOBFS in conjunction with the Controller’s Office will reach out to the submitter for any missing information and/or clarification.  
      • Once the submission is vetted, a member of the Controller’s Office will initiate the first deposit by sending the RSO a “Cash Receipt Cover Sheet”. 
      • For the account to be activated, a deposit of at least $50 (cash or check ONLY) must be submitted. This can be done one of the following ways: 
        • The RSO can U.S. Postal mail the funds AND Cash Receipt Cover Sheet to the MSU Cashier’s Office, Hannah Administration Building, 426 Auditorium Rd, Room 110, East Lansing, Michigan, 48824. 
        • The RSO can physically take the funds to the Hannah Administration Building (enclosed in an envelope with the Cash Receipt Cover Sheet) and drop them off at one of the two drop boxes: 
          • Outside of Hannah Administration Office Building along the left side of the Circle drive 
          • Inside Hannah Administration Office Building, outside of Room 110. 
        • The RSO can schedule an appointment with the Cashier’s Office to make the deposit by calling 517-355-5023. 
      • Once the deposit is made, please give at least two (2) weeks for the account number to be generated and processed. Once created the RSO will receive a final email with account information. 
      • New RSO accounts are linked to Involve@State on a biweekly basis. Once you receive your AR or AU Number, within two (2) weeks you should be able to regularly track your previous day’s account balance in Involve@State. 

  • Responsible Parties & Updating Signers

    Responsible Parties for RSOs are those individuals who hold the officer roles of President, Vice President, Treasurer, and Secretary. Responsible parties must be listed as holding these positions on the RSO roster in Involve@State. 

    • Responsible Parties are initially set during the RSO annual registration/renewal process. 
    • After registration/renewal, if you change officers, your Responsible parties will need to change. 
    • To change Officers/ Responsible parties complete the Update Officers/Responsible Parties Form.
    • Responsible parties have authority to approve expenses coming out of their on-campus account.  When approving expenses, Responsible parties are certifying that this payment is appropriate, correct and made in accordance with their RSO's Constitution, the RSO Handbook, and MSU Manual of Business Procedures. 
    • Responsible parties will have the ability to submit and approve financial forms including: 
    • A minimum account balance of $50 is always required. 
    • The Responsible parties are responsible for making sure the on-campus account has enough funds to cover expenses. 
    • If there are not enough funds in the on-campus account, it is the duty of the responsible party to correct the overdraft of the account by making a deposit. 
    • Failure to correct an overdraft of the on-campus account may result in accountability measures to be taken via the Overdraft Policy. 
      • Holds may be placed on a responsible party’s student account on the 15th of the 5th month of consistent overdraft status. 
      • Please see overdraft policy in the section below for more details and steps on how to correct it. 
    • Responsible parties should monitor their balances in the Finance Section of Involve@State. 
    • Responsible parties to the account will receive a monthly financial statement from the RSOBFS. 
      • If there are any discrepancies it is the responsibility of the Responsible Parties to be in contact with the RSOBFS for assistance. 
  • RSO Finance Tool on Involve@State

    The RSO Finance Tool on Involve@State will be able to provide groups their MSU account number and balance information.

    • Who will have access:
      • President
      • Vice President
      • Treasurer
      • Secretary
      • Faculty/Staff Advisor
      • Any RSO Specific position given "View" or "Full" finance privileges
      • Please note that these roles MUST be attached to the individuals on the roster. If you utilize other names for your positions, we advise listing the individual(s) as both positions.
    • To find your BALANCES:
      1. Log into Involve@State
      2. Go to your RSO Page
      3. Select "Manage Organization" 
      4. Click the circle icon for your RSO on the left menu 
      5. Select "Finance" from the menu
      6. Select "Accounts" in the upper right corner
        • This will bring you to a page with your RSO name, Balance and Available Balance.
          • These numbers will be in accounting number format, numbers in parentheses () are negative. i.e ($200) is consider a negative amount of $200
          • "Balance" = the total amount of funds in your account at the end of the previous business day
            • This "Balance" amount is the primary number which determines overdrafts.
          • "Available" = the total amount of funds in your account MINUS the required $50.00 minimum balance at the end of the previous business day.
            • The $50.00 minimum balance is required for the account to remain in good standing.
    • To find your RSO ACCOUNT NUMBER:
      • Follow the above steps 1-6
      • Select the name of your RSO
      • The "External Account ID" is your RSO Account Number
    • This will update Tuesday through Saturday with the previous business day's balance
  • Deposit of Funds

    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:

    • Check(s) should be made out to Michigan State University.
    • Additional information on check(s) is accurate (i.e. date, amounts align, etc.).
    • Any checks are endorsed on the back.
      • No signature is needed.
      • To endorse you must write your “AR” or “AU” account number on the back.


    Cash/Check Deposit

    You may deposit cash and checks via the following process:

    • Complete a Deposit Request Form on Involve@State.
    • Once reviewed and approved by the RSOBFS, the Officer who submitted the form will receive a Cash Receipt Cover Sheet via the “Discussion” area of the Deposit Request Form that you submitted on Involve@State.
    • The RSO will then have 10 DAYS to either U.S. Postal mail the funds AND Cash Receipt Cover Sheet or physically take the funds (enclosed in an envelope with the Cash Receipt Cover Sheet) to the MSU Cashier’s Office, Hannah Administration Building, 426 Auditorium Rd, Room 110, East Lansing, Michigan, 48824. 
      • The RSO can physically take the funds to the Hannah Administration Building  (enclosed in an envelope with the Cash Receipt Cover Sheet) and drop them off at one of the two drop boxes:
        • Outside of Hannah Administration Office Building along the left side of the Circle drive or,
        • Inside Hannah Administration Office Building, outside of Room 110.
      • The RSO can schedule an appointment with the Cashier’s Office to make the deposit by calling 517-355-5023.

    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.

  • Spending Funds from an On-Campus Account

    Requirements for ALL processes

    • Cash may not be directly withdrawn from an on-campus account.
    • All transactions require approval by two responsible parties. 
      • Responsible party 1 is the submitter of the form. 
      • Responsible party 2 is the added responsible party that is listed within the form.  
      • Advisers cannot submit financial forms on behalf of an RSO nor be the other validating responsible party. 
    • If a transaction is greater than $500 approval by two responsible parties AND the Adviser is required. 
    • If the on-campus account does not have enough funds to cover the request, the request will be denied. 
    • All documents submitted will need to be saved and provided as a PDF. 

    Funds may be spent from an on-campus account in one of the following ways:

    Reimbursement/Vendor, Speaker, Performer Payments/Donation Form

    • Reimbursement
      • Making a payment to a member who made an out of pocket purchase
        • Examples include: if members purchased supplies for an event or if members paid for food for an event.
      • An itemized receipt showing items purchased is required
        • This is a receipt that shows all items purchased and cost of each item
        • Total amount paid
        • Proof of payment by one of the following:
          • Receipt showing last 4 digits of credit card used.
          • Receipt showing cash was used with zero balance.
          • Credit card statement showing payment was made.
      • If the member is an employee, payment will be processed by direct deposit on the next pay cycle after accounting’s approval
        • This may take longer in order to align with the individual’s assigned payroll cycle.
        • Taxes will not be assessed.
        • This will be a separate transaction following the payroll method set up by the employee.  
      • If the member is not an employee, payment will be processed via check and mailed.

    • Vendor Payments
      • Payment to an off-campus vendor for product or service
        • Examples include: Custom Ink for shirts, payment for a DJ or a photographer.
      • An invoice will be required for payment with the following details on one document. 
        • Itemized with individual expenses.
        • Remit Vendor name and address.
        • Date.
        • Total amount owed.
      • Payments will be processed by check and mailed to the remit address.

    • Speaker and Performer Payments
      • Payment for a professional service that is rendered.
        • Examples include: Speaker, Performer, Comedian, etc.
      • One of the follow is required:
        • An invoice will be required for payment with the following details on one document. 
          • Itemized with individual expenses.
          • Remit Vendor name and address.
          • Date.
          • Total amount owed.
        • A fully executed contract/agreement.
          • Services rendered.
          • Total amount owed.
          • Signatures from all parties.
      • Payments will be processed by check and mailed to the remit address.

     

    • Donation
      • Donating funds to an MSU affiliated department
        • Examples include: campus departments, programs, other RSOs
        • This donation requires contact information for an individual in the department where the funds are being donated to for the RSOBFS to contact regarding any questions.
        • Account number for the department, program or RSO you are donating to.
      • Donating funds to an outside/non-MSU organizations
        • Examples include: Local community non-profits, national non-profits etc.
        • Business purpose (the explanation for the donation)

    Credit Card Purchase Request Form

    • Payments for online purchases, conference fees, hotel fees, catering
    • Allows the RSOBFS to purchase items online on behalf of the RSO
      • This will require one of the following:
        • A wish list
        • A list of items with links and prices
        • A clear screenshot of the cart to be able to process
        • Quote or invoice (only for catering and travel)
      • Quantities and total price amounts are REQUIRED. Either ensure it clearly shows on screenshots or carts, or you can list them in a separate document. 
      • You will be required to provide an “in hand” or due date to ensure we have items delivered in time for your event or program or payment made for your travel.
      • All approvals are required before ordering. This means you should notify other authorized signers and adviser (if applicable) to ensure they approve the request in a timely manner to meet your purchasing deadline.

     

    Move Money to Off-Campus Account Form

    • To cut a check from the RSO’s on-campus account to deposit into the RSO’s off-campus account.
      • Address listed on the form is the address the check will be mailed to.
      • The check will be made out to the RSO.
      • It is the responsibility of the RSO to then deposit the funds into the off-campus account.
  • Overdraft Policy

    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.

    •  The RSOBFS will email all authorized signers and the advisor in the last week of the month giving until the 10th of the following month to make a deposit.
    •  The RSOBFS will also email all authorized signers and the advisor the first week of the month with the statement reminding them they have until the 10th to make a deposit.
     The following steps must be completed by the 10th of the month
    • Submit the Deposit Request Form on the RSOBFS Involve@State page.
      • Once reviewed and approved by the RSOBFS, the Officer who submitted the form will receive a Cash Receipt Cover Sheet via the “Discussion” area of the Deposit Request Form.  
    • Print the Cash Receipt Cover Sheet  
    • The RSO will then have 10 DAYS to either: 
      • The RSO can U.S. Postal mail the funds AND Cash Receipt Cover Sheet to the MSU Cashier’s Office, Hannah Administration Building, 426 Auditorium Rd, Room 110, East Lansing, Michigan, 48824. 
      • The RSO can physically take the funds to the Hannah Administration Building (enclosed in an envelope with the Cash Receipt Cover Sheet) and drop them off at one of the two drop boxes: 
        • Outside of Hannah Administration Office Building along the left side of the Circle drive 
        • Inside Hannah Administration Office Building, outside of Room 110. 
      • The RSO can schedule an appointment with the Cashier’s Office to make the deposit by calling 517-355-5023  
    • If these steps are not completed by the 10th of the month the following may happen: 
      • 1st month of overdraft 
        • A $20 overdraft fee may be charged. 
      • 2nd month of continuous overdraft  
        • A $20 overdraft fee may be charged. 
      • 3rd month of continuous overdraft 
        • The on-campus account may be expired. 
          • This means that the RSO will not be allowed any activity (unless it is to make a deposit) until the overdraft is corrected. 
      • 4th month of continuous overdraft 
        • The on-campus account will remain expired (if it was previously) 
          • This means that the RSO will not be allowed any activity (unless it is to make a deposit) until the overdraft is corrected. 
        • A complaint indicating a violation of the RSO fiscal expectations as laid out by this handbook, may be filed with the Office of Student Support and Accountability that may result in the removal of RSO status. 
      • 5th month of continuous overdraft 
        • All responsible party’s student’s accounts may have a hold placed on them 
      • 6th month of continuous overdraft 
        • The RSO status may be removed for the remainder of the year and, at the discretion of the RSO Team, may restrict the ability of the RSO from renewal/registration for the following year(s). 

  • Monthly Financial Statements

    Monthly Financial Statements will be emailed to the responsible parties and the adviser of all registered RSOs that have a renewed on-campus account. 

    • It is the expectation of the responsible parties, including the adviser, to check the statement against the RSO’s records.  
    • The RSOBFS is only allowed to share the monthly statement with those listed as responsible parties, including the adviser.  
      • It will be up to the responsible parties to share with any other entities. 
    • Monthly Financial Statements are in accounting number format, numbers in parentheses () are negative. i.e. ($200) is considered a negative amount of $200. 
      • Please see the financial resource section for more information on how to read the monthly financial statements. 
    • If there is a discrepancy a responsible party representative will need to reach out to the RSOBFS at  Stuorgs@msu.edu. 
  • Closing an On-Campus Account

    There are several avenues in which an 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 Account Closure 
    The University reserves the right to close or expire an RSO On-Campus Account at its discretion. This includes the Overdraft Policy, other RSO Conduct Proceedings and/or other misuse of funds. 

  • Service Fee
    • 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 
        • 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.  
    • For the 2023-2024 academic year, ASMSU is covering the $5 monthly service fee for RSOs. 

On-Campus RSO Financial Accounts

Updated 12 August 2022

RSOH