Student Organization Banking Service

The Student Organization Bank provides the following services for student organizations to assist them in managing their account.

Bank Services

Deposit of Funds - Funds of organizations are deposited in this office, thus eliminating frequent trips to a bank, or the treasurer having to hold large amounts of money to be deposited.

Standard Check System - Checks to be used are provided by the Student Organization Bank. There is no additional charge for checks. Checks must be signed by a member of the organization who is authorized on the account and countersigned by a Student Activities and Leadership Development staff member. The amount of the check is imprinted with a check protector. The university assumes no control or responsibility for how the funds are spent.

Current Balance Maintenance - The accountant in the Student Organization Bank keeps a daily balance for each organization's account. The accountant will provide a financial summary at the end of each semester for all accounts. You may request an Account Report at any time which shows all transactions made from your account for the current fiscal year.

Other Special Services - A cash box and coin counter are available at the Student Organization Bank.

Auditing Services

Bookkeeping system - A special set of financial records are provided. A student organization's financial records are confidential. Authorized signatories may have access only to their own organization's records. The accountant in the Student Organization Bank gives assistance to students setting up and using accounts.

Audit of financial records - The records of the Student Organization Bank are audited once a year by outside auditors and are subject to audits by UT auditors.