As a Recognized Student Organization, you receive a University of Chicago financial account and are afforded the benefit of the University’s tax-exempt status. Your account is hosted by the University and administered by the Center for Leadership and Involvement. This section of the Guide will provide you with the information you need to successfully manage your RSO's finances.
Your Fiscal Responsibilities
Tax-exempt status and your status as an RSO are contingent upon the fact that all your organization’s funds are housed within the University’s financial structures and that your Leadership and Student Involvement account is your only financial account. Additionally, you must not transact or hold funds via any third-party systems, including eCommerce applications (Paypal, Eventbrite, Square, etc).
Any funds raised by your organization are to be deposited into your Center for Leadership and Involvement account as outlined in the Deposits section.
Any expenses should be submitted by your RSO’s financial designees through Blueprint at least three full weeks before a check is needed. You will be able to track the status of your Purchase Requests online, through Blueprint.
It is the responsibility of your organization, and your treasurer, in particular, to manage your account responsibility, to keep track of your account balance, and to prevent your RSO from developing a deficit that may impact your ability to continue your program.
Groups who do not maintain a positive account balance will be enrolled in the Student Organization Debt Reduction Program, and access to some resources may be limited until the deficit is resolved.
As you fundraise and incur expenses, there are two key sources of the account information you are accountable for: Transaction Reports & The Blueprint Finance Module.
Accessing Your Account
Access to spend your funds comes through the Blueprint Finance Module where you can submit a Purchase Request to draw from your funds. Transactions are governed by the policies/requirements concerning Spending Funds.
The Blueprint Finance Module