Student Group Spending Policies
All Olin student group finances must be managed through Olin College, this includes purchases, fundraising, and cash advances.
P-Card Purchases
There are two P-Cards (purchase cards) available for official use by student groups. Students must attend Student Group spending training in order to use a P-Card and must also provide the vendor with a copy of Olin's Tax Exempt form so as to not be charged taxes on purchases. All P-Card purchases for student groups under Student Government (SG) are overseen by the Vice President for Finance, the Committee for Clubs and Organizations (CCO), and the Office of Student Affairs and Resources (StAR). Other student groups (i.e. competition teams) work directly with Academic Affairs or StAR.
After an in-person purchase, students in SG groups must complete the SG Student Body Spending Form (provided by CORe upon completion of training). Failure to do so may result in a spending ban or penalty issued by the CORe VP of Finance.
Reimbursements
Reimbursement requests for SG groups must be made via the Student Body Spending Form. Non-SG groups should use the standard student reimbursement form. Requests must be submitted within 4 weeks of making the purchase to be eligible for reimbursement. Late reimbursement requests will not be accepted.
Check Purchases
P-Card is the preferred method of payment for any event or activity, however, if credit cards are not accepted by the vendor than Student Groups can request a check be issued. In order to issue a check, the Student Group must provide the StAR Office with an invoice/receipt, as well as a copy of the vendor’s W9 if not already on file. Checks will typically be mailed within two weeks of the request.
SG group expenses with checks must be reported to the Student Government via the Student Body Spending Form. Failure to do so may result in a spending ban or penalty issued by the CORe VP of Finance.
Fundraising
Student Groups wishing to fundraise using cash must contact the StAR Office in order to request a cash box and change. A Student Group designee will need to fill out a Petty Cash Request form where they will indicate the purpose, dates, and times of their fundraiser. This form must be submitted to Financial Affairs at least 7 days prior to a fundraising event. Each day funds are collected, the Student Group designee must return the cashbox to the StAR Office (CC319), and complete a deposit form. For fundraising events taking place on weekends or holidays, deposits should be done the next business day. Upon completion of a fundraiser, the cashbox and any remaining change must be returned to StAR.
Any student group income for an SG group must be reported to the Student Government via the Student Body Spending Form. Failure to do so may result in a spending ban or penalty issued by the CORe VP of Finance.
Cash Advances
Students may request cash advances in situations where venues or activities are cash only. In order to request a cash advance, Student Groups should reach out to the StAR Office at least 7 days prior to their event. They will need to provide the name, date, and location of the event, as well as the purpose of the funds. Excess funds must be returned to the StAR Office, along with a receipt for any cash purchases.
SG group expenses with cash advances must be reported to the Student Government via the Student Body Spending Form. Failure to do so may result in a spending ban or penalty issued by the CORe VP of Finance.
Online Spending for SG Clubs and Organizations
Students who do not hold p-cards in their names (i.e. members of SG Clubs and Organizations) are unable to purchase items online and do to the need for items to be tax exempt. Requests for online items for SG groups can be submitted to the Vice-President of Finance of Student Government via the Student Body Spending Form, and should be done at least two weeks prior to an event or activity in order to ensure on-time delivery. If the Vice-President of Finance is unavailable, students may contact the StAR office.
Spending Violations
Not following the proper Student Group financial policies and procedures, such as not turning in p-card purchase receipts, will result in consequences and a revoke of student spending privileges.
Strike 1: Verbal Warning
Strike 2: Spending ban for 1 month.
Strike 3: Spending ban for the remainder of academic year.
Please refer to the Student Group Guidebook for more detailed information on Club/Org Spending Processes and Procedures.