Policy on Student Organization Banking

Executive Memorandum 94-004

March 18, 1994

From: Manuel A. Esteban, President

Subject: Policy on Student Organization Banking

On the recommendation of the Faculty Senate, I approve the following policy on Student Organization Banking for immediate implementation.

POLICY ON STUDENT ORGANIZATION BANKING

At the discretion of the organization's membership, and upon consultation with the appropriate faculty/staff adviser, University-recognized student organizations may establish and maintain banking accounts with off-campus financial institutions, or they may avail themselves of the opportunity to establish and maintain an on-campus banking account through the Associated Students Business Office.

Student organizations electing to establish off-campus banking relationships must follow standard documentation practices and procedures that will serve to ensure reasonably adequate accountability for funds. Evidence of fraud, the misappropriation of funds, or the failure to implement such documentation practices and procedures may lead the University to withdraw its recognition of the student organization. In all cases, recognized organizations and individual members and advisers may not represent themselves or their organization as an agent or agents of the University, and they must take active steps to clarify that their contractual and other agreements and opinions are their own and not those of the University.

The Student Activities Office is responsible for educating student leaders and their faculty/staff advisers on the availability of on- and off-campus banking services and the merits and disadvantages of both. Additionally, the Student Activities Office should regularly and widely distribute to advisers and student organization leaders those documents that provide such information.