Chapter 6140
.010 Introduction
.020 Application
.030 Depositing of Funds
.040 Disbursements
.060 Questions
ATTACHMENTS
.100 Application to Establish an Organizational Safekeeping Account
.010 Introduction
Organizational Safekeeping accounts may be used for depositing any non-public moneys by an organization related to Kansas State University which requests in writing the safekeeping of its funds. This includes student organizations, clubs, as well as professional organizations. The University Controller's Office has a bank account into which to deposit organizational safekeeping funds and will be the custodian of the funds on deposit for each of the requesting organizations. The organizations will not be assessed any charges for the account. Any interest earned on the funds will be retained by the University Controller's Office and used to defray costs incurred to administer the account including bank charges, check costs and any other administrative fees.
.020 Application
A University related organization may make application by completing an Application to Establish an Organizational Safekeeping Account form. For student organizations, a KSU faculty or staff advisor is required to sign the form as the responsible person. When the application is approved, the Controller's Office will set up a Financial Record System (FRS) account and notify the organization.
.030 Depositing of Funds
All moneys are to be deposited through the University Controller's Cashiers Office and the deposit information is to be submitted through the cashiering software, CASHNet. (See Chapter 6110, Section .040.) Monies are to be taken to Anderson Hall room 212 for deposit. Each deposit is to include a description of the source of funds.
.040 Disbursements
Disbursements are made by the completion of an Agency Purchase Order (APO). These forms are available on line through the Controller's Office E-Forms. The APO is to be submitted to the Controller's Office Accounting Section where it will be checked and forwarded to the University Controller's Cashiers Office for issuing the check. The check will be written and sent to the requesting organization for submission to the payee.
Any Federal, State or local reporting required on transactions processed in an Organizational Safekeeping account is the responsibility of the requesting organization. The Controller's Office will only deposit funds, make disbursements upon request and manage the bank account.
.060 Questions
Any questions regarding the establishment of an Organizational Safekeeping account are to be directed to the Controller's Office, Financial Reporting and Inventory, (785)532-1853. Questions related to depositing to or disbursing from an Organizational Safekeeping account are to be directed to the University Controller's Cashiers Office (785) 532-6317.
