This guide includes procedures to follow for obtaining funds from a Storrs FRS (Financial Records System) account, student activity accounts (SA) or Law School Foundation account.
In order for a Student Bar Association (SBA) student organization to spend any money, the group's leaders must first make sure that the purchase and/or event is covered in the budget that was allocated to the organization by the SBA. Documentation of financial disbursement is the individual organization's responsibility. If an organization fails to comply with the requirements set forth by the SBA's By-Laws, that organization risks losing some or all of its funding. Disbursements cannot be made for items not included in your organization's approved budget. Unauthorized expenditures become the personal liability of those individuals requesting such payments.
The Connecticut Law Review (CLR), Connecticut Insurance Law Journal (CILJ), Connecticut Journal of International Law, Connecticut Public Interest Law Journal, and the Moot Court Board receive funds directly from Storrs to offset a portion of the cost of printing and competitions.
The SBA and CLR have funding from student activity accounts (SAA). Although these funds appear to allow for more ease in spending, they require more effort on the part of the student organization to ensure that University accounting records are maintained. Past state audits of the SAA accounts have been less than positive. If you have questions concerning the audit and/or your responsibilities, please consult the Business Office.
If you are selling tickets for an event, such as a dance, packets for a competition, etc., you must follow the University ticket reconciliation procedure. The ticket reconciliation forms must be completed for each event involving ticket/packet sales or distribution. Deposits to the SBA account or Storrs KFS accounts cannot be made without these completed forms.
If your organization is collecting cash from students, you must complete official pre numbered receipts. Receipt books are available from the Business Office. Audit requirements stipulate that one copy of the receipt must be kept with the records of the student organization. It is recommended that you keep the white copy in the book for this purpose. Send one copy of the receipt (yellow copy) with the cash to the Business Office. The last copy (pink) can be given to the individual as a receipt.
State statutes require that revenue (cash and checks) from ticket sales or other cash events must be deposited within 24 hours of receipt. Bring the cash/checks directly to the Business Office, Chase Hall, Room 202, for deposit.
If you have any questions about your SBA budget allocations and/or what can be funded through the SBA, please contact the SBA treasurer. If there are any questions about the procedures mentioned in this guide, please feel free to contact the Business Office, Chase Hall, Rooms 202 or 201, ext. 5140 or 5139.