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Club Finances - Policies and Procedures

Purpose

Clubs accounts are established through the CWI Business Office for the purpose of depositing and expending funds. According to CWI policy, all financial transactions must be processed through the Business Office utilizing the college account. This section will cover the policies and procedures for club accounts.

Club Cost Center

Clubs accounts are established through the CWI Business Office for the purpose of depositing and expending funds. According to CWI policy, all financial transactions must be processed through the Business Office utilizing the college account. This section will cover the policies and procedures for club accounts. 

Club Cost Center

Student clubs may not establish individual accounts at a commercial financial institution such as a bank or credit union. Club status will be revoked if the Office of Student Engagement obtains confirmation that a club has an off-campus banking account. 

To obtain a CWI account, the club must first submit all required paperwork during Open Enrollment and obtain approval by the Office of Student Engagement. Once the club is approved, Student Engagement will submit the required information to the Business Office in order for the club to receive an assigned Cost Center.  

A Cost Center is an account number specific to the individual club. The college cost center must be used on college forms to deposit money into or request payment for expenses out of the club account. Student Engagement will communicate the college cost center number to the Club leadership once it has been assigned. 

Club Funds

Club funds are to be used for the benefit of all club members. Club funds may not be used for: 

  1. The benefit of any Academic Department 
  2. To replace classroom equipment 
  3. To buy supplies for a class or class project 

Funds that come from the College, (i.e. ASCWI, Foundation, etc.), may only be used to support club members, club sponsored events and activities, and club functioning, such as club advertising and recruitment efforts. These funds may not be used to purchase items for or to donate to an outside organization. Clubs may appeal to Student Engagement at clubs@cwi.edu.

Club Deposits

How to make a club deposit: 

  1. Print off Club Deposit Form PRIOR to going to the One Stop Office. You can find forms on . 
  2. Fill out the Deposit Form completely. You must have the club's Cost Center on the Deposit Form. 
    • If the club is depositing checks from an event/fundraiser etc., the club must write the club Cost Center on the back of the check in the upper right corner. 
  3. One Stop will count the money with the club representative to verify that the deposit is accurate and to create checks and balances. 
  4. After the money has been counted and the Deposit Form is accurate, the One Stop will sign off on the Deposit Form. The One Stop will give you a copy for your records. Make sure to keep your copy for records and record it within your own budget tracking. 

Your deposit will not be accepted if: 

  • You do not have the club's Cost Center on the Deposit Form and every check.
  • The form is incomplete. 

Reimbursements

All purchases must be made through the Office of Student Engagement. Reimbursements for travel will not be conducted. Exceptions may be made regarding travel with documentation of extenuating circumstances. Refer to club travel and the proper prior approvals through the Student Engagement Office. 

Contracts

Club activities such as hosting an individual, group or event (comedian, musician, performer, guest lecturer etc.) require a contract between the College and the guest. Rentals of equipment or facilities also require contracts. The contract must be approved by by the Provost and the CWI contracts team. The club will be required to obtain prior approval through the form of an event pre-approval, of any contract between the College and the other party or parties involved. 

  • For items that require a contract, the event request should be submitted at least 30 business days in advance of when the contract needs to be signed by both CWI and the selected vendor. 
  • Contracts must be signed by the CWI contracts office designated authorized signatory. Contracts not signed by them are not valid to use club or other institutional funds for payment. 

Prizes, Gifts, and Awards

All prizes, gifts, and awards that are not part of an event will still require prior approval. Clubs wanting to provide prizes, gifts, and awards outside of an event format need to submit the Purchase Request for Supplies, fundraisers, and events form. 

Clubs wanting to have prizes, gifts, and awards that are part of the event should include the information as part of the event pre-approval request.  

For all situations, Student Engagement will notify the club officers and advisor if the request is approved. Once the request is approved Student Engagement will begin coordinating the purchases. 

CWI Policy for Gifts and Prizes the winner needs to complete W-9 for all non-monetary gifts over $100. The Business Office will not issue the 1099 unless the total value is over $600 for the year, but we do keep the W-9’s on file. All gifts need to be signed for when awardee takes possession. 

Event organizers and club advisor are not eligible for any gifts from the club. 

Club Dues

In order to create an equal opportunity for all students to participate in student organizations, clubs are not permitted to charge membership fees or dues unless they are affiliated with a state, regional, national or international organization or league that requires membership fees. To request the ability to charge membership dues outside of this requirement please email your reasoning and justification to clubs@cwi.edu for further review.