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Accounts

Below are some FAQs on allocated and self-generated accounts!

  • Accounts

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  • What are the different kinds of accounts? Which is meant for my club?

    • Student organizations normally have two types of financial accounts: allocated accounts and self-generated accounts. Divisional clubs that charter other clubs, such as College Council, also have contingency accounts.

  • What are allocated accounts?

    • Allocated accounts contain money given to the club by College Council. These funds come from the SAF (Student Activities Fee) that students pay for each semester. Students who request operational budgets or supplemental budgets (see Budgets) will receive funds in their allocated accounts. Only clubs who have an RF (Recommended for Funding) Charter have and use allocated accounts.

  • What are self-generated accounts?

    • Self-generated accounts contain money the club members have fundraised for their club on their own. RF clubs can have allocated and self-generated accounts, whereas NRF (Not Recommended for Funding) clubs only have self-generated accounts.

  • What is a speedtype?

    • A speedtype is like an account number for an account. Allocated, self-generated, and contingency accounts have speedtypes.

  • When will I get an update about the organization’s account balance?

    • Treasurers and presidents who have completed Treasurer Compliance Training and are listed correctly in the Hub receive reports on their updated account balances from SGS every (See Audits)

  • Do funds rollover from one semester to the next?

    • Funds in allocated accounts rollover from the fall to spring semesters, but they do not rollover into new academic years. Funds in self-generated accounts rollover from year to year and remain in the club’s account.

  • At the start of summer, my club had funds left. What will happen to them?

    Funds in allocated accounts can still be used on approved events and expenses up until the start of the new academic fiscal year. However, it is not recommended, as the reimbursement process will be extremely slow during the summer. Once the new academic fiscal year begins, allocated account funds will roll into College Council’s contingency fund, which funds supplemental funding and initiatives for the new year. Funds in self-generated accounts will not go away and remain the club’s account.

  • What are acceptable forms of receiving donations or raising funds for my club?

    • Clubs can raise funds for their club in the form of loose cash, check, money order, or online using the HubX platform. (See Hub vs HubX explanation).

  • Accounts Access

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  • How do clubs place money in their self-generated account (e.g., fundraiser money, club dues, etc.)?

    Treasurers can come to SGS to deposit checks, money orders, or cash from fundraisers, club dues, and other self-generated funds in their self-generated account without an appointment. Orgs can use the drop box on the wall near SGS. To use the drop-box, a student can place their funds in the deposit slip/envelope located at the drop-box and include the SGS Deposit Form found in the SGS office or downloaded from the SGS website. Instead of bringing a paper form, students can also use the QR code above the drop-box to fill out the electronic form with their envelope deposit.

    Merchants participating in fundraisers with Emory organizations will usually make a check out to Emory University, and orgs can bring this check to SGS to deposit in their self-generated account. Checks are preferred, but if students participate in cash or coin fundraisers for their org, they can also bring this loose cash to SGS to use the dropbox envelopes. SGS accepts checks, money orders, and loose cash.

    Fundraising funds received from the club’s HubX activity will be automatically posted in the club’s self-generated account. (See Hub vs HubX explanation)

  • Can orgs withdraw money or cash from their allocated or self-generated accounts?

    No orgs can withdraw money or cash from their accounts.

  • Does my club get a debit card to use our funds?

    Individual clubs do not receive cards. However, there is a P-card available for use by all clubs in the SGS office, by appointment only.

  • Monthly SGS Reports

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  • When a club purchases something, when will they see the transaction on their report?

    A club will see the transaction of a purchase on the next month’s report, which reflects the previous calendar month. If a club purchases something in November, they will see this transaction in the December report, which reflects November.

    There may be some instances where a purchase or transaction in the previous month is not reflected on the monthly report, which means that this transaction had not cleared yet.

  • Why haven’t I received SGS Monthly Reports?

    If you are a new treasurer, new treasurers will begin to receive their monthly SGS reports after August 31st. SGS reports run by fiscal year, and since Emory’s fiscal year is from September 1 to August 31, the previous treasurer will continue to receive the reports for the organization until October. The new treasurer will begin receiving reports in October, since the October report will show the September report.

    In order for a treasurer and president to receive SGS reports, they must be named as a “treasurer” and “president” on the Hub, and not other names such as “divisional treasurer” or “VP of Finance.” Many clubs have different names for treasurers or have multiple treasurers, but the person(s) must be listed as “Treasurer” on the Hub in order to receive monthly SGS reports. In addition to the treasurer and the president being correctly named in the Hub, in order to receive monthly SGS reports, both the treasurer(s) and president(s) must have completed and passed Treasurer Compliance Training in order for anyone to receive a report. This means that if an org has 5 presidents and 5 treasurers, all of those persons will need to have completed and passed SGS’s Treasurer Compliance Training in order to receive the report.

  • Can we add other emails (AVPs, Vice President, etc.) to receive monthly SGS reports?

    In order to have other organization members receive monthly reports, those members must be listed as treasurers on the Hub, and also complete and pass Treasurer Compliance Training, in addition to treasurer(s) and president(s) completing and passing Treasurer Compliance Training, Since the monthly report email list is pulled from the Hub and will look at listed treasurers and presidents, organizations will need to list Assistant VPs, Vice Presidents, and other members as "Treasurer" or "President" on the Hub. This does not mean that organizations need to change the names of their positions, they only need to make adjustments on the Hub to ensure that certain members get the report.

  • Grants, Stipends, & Other Transfers

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  • If a club receives a stipend or grant from an Emory office, academic department, or individual, how can this be transferred to the club’s account?

    Emory departments or offices can transfer funds directly to CC org speedtypes, however, grant and stipend funding should go to an organization's self-generated account, not their allocated account. Grant and stipend funds can be processed to allocated account, but orgs would lose that money at the end of the fiscal year. For an example, if an org receives a grant from an Emory department that is supposed to cover three years, if the club gives the department their allocated speedype account, these grant funds would not rollover to the next fiscal year, since allocated accounts do not rollover.
     

  • What are some internal transfers, types of internal transfers, or end-users for which clubs would need SGS permission or approval?

    Student orgs are not allowed to transfer funds to university department-held accounts (i.e., Film Department, English Department, Housing, etc.) per the SGA Finance Code. Student orgs can reimburse departments after the department-held account provides actual receipt or documentation of what the department spent. There is currently no cap or limit on how much student orgs can reimburse department-held accounts per the SGA Finance Code. This is not an SGS rule but an SGA policy.
     

  • I need to pay another Emory club, how should I do it?

    Complete and submit the Internal Transfer Form to SGS, available on the SGS Forms webpage.
     

  • HubX

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  • What is HubX? How do I register on it?

    • HubX is an online marketplace for Emory club organizations. All club treasurers should have received a link to the website upon completion of compliance training.

  • What are the benefits of using HubX?

    • HubX removes the needs for physical money and allows for better records of payment.

  • What is the difference between The Hub and HubX?

    The Hub is platform all undergraduate students and organizations use to explore upcoming events, register for events, showcase their club with club pages, and peruse opportunities to attend within Emory Student Life. Club organizations can also use the Hub to make supplemental budget requests, view how much they were approved in funding for the upcoming year, and learn about other campus news.

    HubX is a marketplace platform specifically for organizations to sell merchandise, tickets, collect club dues, and post other things an organization may be selling.

    All funds received from HubX will be posted in an organization’s self-generated account. Students also have the option to add bank account or card information when purchasing a club’s merchandise or service.

    Clubs can’t collect dues, advertise merch, view sold items and fundraise on the Hub, but they can on HubX.

Frequently Asked Questions