See some frequently asked questions and answers from SOFS!
Q: Can anyone, other than the treasurer, sign for our organization's transactions?
A: Any member of the organization can sign a Deposit Form. A Payment Request Voucher must be signed by the adviser and the treasurer or president. However, we recommend that the treasurer handle the banking tasks since they are responsible for the organization’s financial records.
Q: I just received a check in the mail that had been deposited into my organization's account and was returned for insufficient funds. What do I do with it now?
A: This is a decision for the organization to make. SOFS will not assist in collections for bad checks or bad debts owed to your organization.
Q: I have made purchases for an organization with my own money and now I would like to be reimbursed. What do I do?
A: Contact the officers in your organization and request that they submit a Payment Request Voucher. All reimbursements are to be made following this procedure.
Q: My organization is preparing to make a deposit from a recent fundraiser and I purchased supplies for the event. Can I take my reimbursement from the collected funds?
A: NO. All receipts from events must be deposited to the organizations account. Reimbursements can be made by submitting a Payment Request Voucher.
Q: How soon can I receive a check after submitting the request voucher?
A: Checks will be made available on the following business day - plan ahead.
Q: I am the treasurer for my organization and I need to obtain a reimbursement check for myself. Do I sign the Payment Request Voucher myself?
A: For internal control purposes, a person should not approve a payment to themselves. Therefore, if the treasurer of an organization is to receive a payment from that organization, the Payment Request Voucher must be signed by the president and the adviser. If the president is to receive payment, the request must be signed by the treasurer and the adviser. If a payment is being made to an adviser, the request must be signed by the president and treasurer.
If an organization has more than one adviser and payment is being made to one of the advisers, the request can be signed by the adviser who is not receiving the payment and by either the president or the treasurer.
Q: My organization would like to have an account through another bank. Is this permitted?
A: No. All student organization accounts must be kept at SOFS. This is a UNL Bylaw.
More details at: http://go.unl.edu/5y60