Registered Student Organizations (RSOs) are responsible for generating and managing their own funds. Fundraising and charging member dues are common examples of revenue sources for RSOs.
Organizations that receive Student Services Fees (SSF) and/or are Campus Life Programs (CLPs) may be subject to supervision and review by delegated University staff from the sponsoring department and/or external auditors.
Basic Financial Policies
Compliance
| The financial operations of student organizations must be conducted in accordance with all applicable local, state, and federal laws and regulations, and the student organizations' respective constitutions where applicable. |
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Responsibility
| Registered officers of the student organization have personal responsibility and accountability for the finances and operations of the organization. |
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Banking
| RSOs may independently secure and maintain banking services through the service provider of their choice, if desired. All bank accounts should be opened and maintained under a tax ID/EIN specific to the organization. |
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| RSOs that wish to apply for Student Organization Grant (SOG) monies from UMD Student Government Association must hold a bank account at the on-campus branch of Huntington Bank, located in Kirby Plaza |
| It is strongly recommended that organizations use online banking options for registers and statements. Many banks, including Huntington, charge a fee for paper statemen |
| CLPs are not permitted to hold a bank account separate from the University EFS. CLPs must use the EFS for all transactions. Each CLP is required to have its own unique EFS chart string number; a CLP cannot use the same chart string as its sponsoring department. |
Taxes
| Student organizations shall be responsible for paying all applicable taxes, including but not limited to collection and payment of sales tax and filing and payment of income taxes. |
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Partisan Political Activities
Partisan political student organizations
| “Partisan political student organizations” are organizations affiliated with and in support of a registered political party or candidates for election. |
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| ✅ May seek funding for non-partisan political activities (e.g. open candidate forums, voter education programs). |
| ❌ Are not eligible to apply for or to receive SSF or SOG funding. |
| No RSO or CLP may use University funds on behalf of a candidate for public office in a political campaign. |