Student Organizational Accounts (Agency)

As a service to our student organizations, the university allows organizations to open agency accounts with the Controller’s Office as means to secure their cash. Some organizations find this to be a good alternative to opening a private bank account. All accounts are established using private funds with no university funding. The accounts are non-interest bearing and no service charge is applied.

After establishing an account, an organization can deposit funds at the cashiers’ windows in Swords Hall. Goods and services can then be purchased, with payment being made directly out of this account. For purchases made on campus, namely duplicating, postage and conference facilities, the account will be debited at the end of every month automatically for the amount of goods and services used that month. For purchases with vendors outside the university, an invoice must be sent to the organization’s faculty advisor for payment approval. Once the advisor has approved the invoice, it is sent to the Controller’s Office for payment. Provided there is enough money in the account, the university will issue a check on behalf of the organization to the vendor.

Some vendors may be reluctant to bill a student organization, preferring to be paid at the time of purchase. In such cases, it may be necessary for a member of the organization to pay and be reimbursed at a later date. For individual reimbursement, a campus requisition asking for reimbursement must be submitted. The requisition must be approved by the faculty advisor and sent or brought to the Controller’s Office with the original invoice showing that payment was made in full. If the amount is under $300 and the account has enough funds, the student will be reimbursed at the cashier’s window. Any amount over $300 will be reimbursed by check.

Cut-off dates for checks to be issued to vendors on behalf of the agency account are as follows:

• If received by 5 p.m. Monday, a check will be issued eight days later on Tuesday. If the Monday deadline is missed, payment will be issued a week later than if it had been received by the deadline.

Reimbursement checks follow the university schedule for reimbursement:

• Requests received by the 15th of the month will be paid by the 1st of the following month.

Please note that the accounts and their related organizations, while affiliated with the university, remain entirely separate entities. As such, these accounts and organizations are not afforded the tax-exemption status of Bradley University. Unless the organization has obtained a tax-exemption status of their own, all purchases and sales of goods must include their respective sales tax. The university files no taxes for these organizations and accounts. All related tax issues, including sales, income and payroll, must be handled by the organization itself.

Please contact Debra Henry at dah@bradley.edu or 309-677-2616 in the Controller’s Office with any questions or to establish an agency account.