• Student Organizations are not permitted to keep organizational funds at a separate bank , credit union , or financial institution .
• Failure to deposit funds into your Agency Account shall make the organization funds taxable income , violate procedure , and the organization will be subject to sanctions .
• When a Student Organization ’ s agency account is inactive for at least 18 months , the remaining funds should be distributed to a non-profit organization as recognized by Section 501 © ( 3 ) of the Internal Revenue Code . The funds will automatically be distributed to the Collin College Foundation General Scholarship Fund if no other organization is noted .
Monthly Transaction Reports The Collin College Business Office has transaction reports available after an initial deposit . Your organization ’ s transaction report will be uploaded monthly to the organization ’ s Cougar Connect portal and available for viewing by the portal ’ s administrators .
Transaction Report Interpretation :
• Beginning Balance o Balance as of the last report .
• Fund Additions o Lists transactions of deposits made .
• Fund Deductions o Lists transactions of expenses incurred .
• Available Balance o Balance available in the account as of report date .
Requesting Funds
Student Activity Fee Advisory Committee ( SAFAC ) Student Organizations are eligible to request funding from SAFAC ( Student Activity Fee Advisory Committee ). Funding is available for activities that directly involve and benefit students . SAFAC hears funding requests from Student Organizations and college departments for events and programs with educational value that directly affect and help students . The committee comprises nine ( 9 ) members . Five ( 5 ) members are appointed by the Student Government Association ( SGA ), and the President of Collin College selects four members ( 4 ).
Examples of previous initiatives funded by SAFAC :
• organizational travel to educational conference
• organizational programs
• cultural events
• guest speakers
• organization banners
• organization tablecloths
Funding Submissions Student Organizations and college departments requesting financial support from this committee must complete a SAFAC Funding Request Form ( located on the SAFAC Branch of Cougar Connect ) and provide supporting documentation . For on-campus events , requests must be submitted at least thirty ( 30 ) days prior the event . For conference attendance or purchase orders , requests must be submitted at least sixty ( 60 ) days prior . Approval of an event does not guarantee approval of funding . Some examples of potential funding requests could include recreational activities , intramural and intercollegiate athletics , artists , lectures , cultural entertainment , and debating activities . Given the significant amount of funding submissions received , Student Organization leaders are encouraged to followup on any pending submissions . If follow-up information is not received from the Student organization to SAFAC , the funding submission may be denied .
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