Student Group Accounts

Account Types

Finance Board Allocations Fund

This account is only for chartered organizations. Every semester, the Finance Board allocates money to chartered organizations and whatever is allocated will be put into the respective organizationÕs account. Organizations can spend money only on line-items that have been approved by the Finance Board. Effective Fall 2006, there is a no rollover system within this account, meaning any unspent money from the F-Board Allocations Fund at the end of every semester will revert to the Finance Board for future allocation.

Fundraising Account

This account is similar to off-campus bank accounts, except that it is managed and overseen by the Student Union Treasurer. Since the money is kept internally within the University there is a no risk of losing money. This account is for both chartered and recognized organizations. Whenever an organization deposits money, a respective fundraising account will be automatically created. All future deposits will be accumulated into the same account. Organizations may create sub-accounts within their own main account if they wish to. As long as the money is being spent for club usage, checks will be issued given that all necessary forms are complemented. Unlike the F-Board account, money in this account automatically carries forward from semester to semester and year to year.

How to Deposit Money

Organizations are strongly recommended to take advantage of fundraising accounts instead of off-campus bank accounts. All proceeds from events fully or partially funded by SAF must be deposited into respective fundraising accounts. Additionally, all proceeds from fundraising events such as car washes and bake sales should be deposited into their respective fundraising accounts as well.

Until now, it has been a common practice for club leaders to deposit money only to the Student Union Treasurer. This created inconvenience for club leaders, especially when the Treasurer was unavailable. Effective Spring 2007, all deposits can be transacted through any available Senators, F-Board members, or Executive Board members serving their office hours (Mon ~ Thurs: 10 am ~ 7 pm; Fri: 10 am ~ 5 pm). Simply fill out a Deposit Form and an officer will present you a receipt. Please make sure that the exact total amount is written properly.

For checks and money orders, please make sure that they are made out to ÒBrandeis UniversityÓ and that respective organizationÕs name appears in the ÒmemoÓ field. Please do not staple checks and money orders into a Deposit Form; instead, use a paper clip.