There are three different account types:
A revenue account is an RSO’s and RSGO’s on-campus bank account. Funds deposited by student organizations may consist of donations, membership dues, fundraising and admission proceeds. These funds are non-university funds with minimal restrictions, balances roll over each year.
A budget account consists of funding from university sources including operational, travel, event allocations, departmental support and crowdfunding.
Funds in a budget belong to the university and therefore have access to all purchasing methods, sales tax exemptions, and contract pricing. Unused funds (except for crowdfunding) are swept back to the funding sources per deadlines set when the funds were allocated.
Student organizations are not considered university entities, meaning they have a relationship with the university but are not considered “part of” the university. Because of this status, student organizations may have an off-campus bank account to hold revenue account type funds.
A student organization is solely responsible for obtaining and managing their off-campus account. CSI finance is not able to assist with off-campus account set up or management.
Any funds stored on-campus must be deposited into the student organization’s revenue account in BuffConnect.
Storing funds in student organization offices, cash boxes, or safes are not permitted per university cash handling policies.
Funds raised on campus, or for on-campus events, must be deposited into the student organization’s revenue account in BuffConnect and are subject to sales taxes and GAR fee deductions.