1.1. Recognized Student Organizations (RSO) are subject to all OSU fiscal policies.
1.2. The 7xxxxx series of funds (Fund Type 70 – FT70) are considered university funds under the direction and control of Student Affairs used to support RSO activities.
1.3. All Budget Authorities, Managers, Supervisors, Club Officers and any employee who would be in a position of allocating revenue or expenses for the purposes of accounting for activities pertaining to university business within these funds should be informed and understand this rule.
2. General Requirements
2.1. Additional fund use expectations, policies, processes and procedures are outlined administered through the Student Organizations and Activities Office (SOA), a unit within Experiential Learning & Activities (ELA).
3. Required Process
3.1.1. All allowable RSO costs must post to the FT70, 7xxxxx fund using the appropriate account code, such as supplies, minor equipment and travel.
3.1.2. Any purchase of capital equipment for a RSO fund should be made in the index of a sponsoring unit.
3.1.3. The following purchases are prohibited and should not be charged to a RSO fund:
a) Alcohol, marijuana or other drugs
b) Charitable donations to organizations outside the university
c) Political campaign activities
d) Religious exercise – direct support of religious worship
e) For‐profit activity
f) Illegal activity
3.2.1. All revenue received is to be deposited using an income account code 06xxx. Any donation revenue requiring a tax receipt must be sent to Oregon State University Foundation (OSUF) for deposit.
3.2.2. Financial support transactions are required to use a 3JV1 rule code and to make the following entry:
a) Debit: Departmental or FS Index/Account Code 24903 Student Org Internal Support Charge
b) Credit: RSO Index/Account Code 79303 Student Org Internal Support
Note: If the funding unit chooses to maintain control of funds for contractual and/or purchasing purposes, the amount of the financial support to the RSO fund must be adjusted.
3.2.3. For non-cash recharge activities, use internal sales account code 79xxx. These are completed by journal voucher (see Journal Vouchers policy).
3.3. Fund Balances
3.3.1. Funds may be carried forward from one fiscal year to the next for continuation of the RSO program.
3.3.2. Before year-end closing, FT70 funds, as a whole, must have a positive balance.
a) Negative FT70 fund balances (determined after posting receivables and outstanding payables) must be eliminated as soon as possible.
3.3.3. When closing a RSO fund, all the general ledger (GL) account codes (Axxxx and Bxxxx) must show a zero ($0) balance and there can be no encumbrances on the associated index.
3.3.4. When actively closing an index, remaining funds will be disbursed at the discretion of OSU. A RSO can request to OSU one of the following ways to disburse remaining funds:
a) RSO Support and Development Fund
b) A currently recognized student organization at OSU
c) An existing OSU unit/program
The journal voucher is a 3JV1 rule code as follows:
Debit: RSO Index tied to 7xxxxx Fund (use Account Code 92005 Transfer Out – between different FTYP Lvl 2)
Credit: SEE Index tied to 1xxxxx Fund (use Account Code 91005 Transfer In – between different FTYP Lvl 2)
3.3.5. Funds inactive for two consecutive years will be reviewed and potentially closed at the discretion of SOA. Any remaining funds will be disbursed to the RSO Support and Development Fund.
4. Related Information
4.1. Please check with your supervisor for unit-level procedures related to this rule and other resources that may not be listed below.
4.6. RSO Overview
4.8. Frequently Asked Questions (FAQs)
5.1. Original Issue Date: 11/2021
5.2. Previous Versions: 11/2021, 02/2022
5.3. Next Scheduled Review Date: 09/2028
6.1. Policy Steward: Manager of Analytical Operations (contact info)
6.2. Program: Fiscal Policy Officer (contact – for program inquiries only)