40-000-8
BOT 09-20-07
STUDENT ORGANIZATION FUNDS (PROCEDURE)
Student Organizations are responsible for any funds received or raised by the
organization. The local Board must approve any activities, in particular fund raising
activities, carried out by the local student organization in the name of Oglala Lakota
College. Prior approval from the local Board and the local Student Organization must
also be obtained for any and all purchases, expenditures and payments made from student
organization funds, regardless of source (see also: 21-003 Powers and Duties of District
Boards (Policy), under d.)
The Student Organization and its officers are responsible for all monies received, whether
from the student activities fund or through fund raising activities and must account for all
expenditures, regardless of source, by keeping proper accounting records including check
registers and reconciled bank statements.
Financial Responsibilities:
1. The Center Director, Counselor, and Advisor at each center is responsible for
depositing all monies to Piya Wiconi on behalf of The Student Organization.
2. The approval of the Student Organization for all purchases and payments
must be reflected in the minutes of the Student Organization.
3. The Student Organization Treasurer has the responsibility of reconciling
monthly bank statements and making a Treasurer's report to the regular
Student Organization meeting and to the monthly meeting of the local board.
4. The Advisor to the Student Organization oversees the Treasurer's bank
reconciliation and monthly report.
5. At the end of the school year, all outstanding bills must be approved and paid
and final deposits must be made. The Treasurer's bank reconciliations and
final report will be reviewed by the advisor and accepted when complete and
correct.
6. There will be no activity during the summer months.
Bank Deposits:
1. Any and all funds collected in the name of the Student Organization must
be deposited. The deposits will be given to Piya Wiconi who will make the
general checking deposit to the bank and the proper cash receipt procedures will
be followed.
2. Deposits will be counted and deposit slips filled out with the Advisor and at
least one officer present.
3. A copy of the receipt must go to the depositor.
4. All payments must be made by check.
The Center Director has the right to assign part or all responsibility of the Advisor to
another center staff member.
In the event that any officer of the Student Organization does not carry out his/her
responsibilities, the second payment of the college activity fee will be withheld.
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