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Financial Management of Student Organizations :

Policy/Guideline Area

Business and Finance Policies

Applicable Divisions

TCATs, Community Colleges


The following policy of the Tennessee Board of Regents, applicable to all institutions governed by the Board, provides minimum standards for the financial management of student organizations at the institutions.


  1. Scope
    1. Each institution is authorized to establish additional policies and procedures affecting student organizations which are consistent with the provisions of this policy.
  2. Types of Student Organizations
    1. Student organizations may be either organizations sponsored by the institution, such as student government associations, associated student body organizations, and professional and honor societies, or organizations officially registered by the institution.
    2. Organizations which may be registered to operate on campuses include the following:
      1. Honors and leadership organizations and recognition societies;
      2. Departmental organizations and professional fraternities and sororities;
      3. Social fraternities and sororities; and
      4. Special interest groups (political, religious, athletic, etc.).
    3. Registration of a student organization by an institution shall neither constitute nor be construed as approval or endorsement by the institution of the purposes or objectives of the organization.
  3. Fiscal Procedures
    1. Financial System
      1. The institution is responsible to ensure that each organization maintains a sound financial system related to the collection and disbursement of revenues in accordance with generally accepted accounting principles.
      2. An organization may be subject to audit by representatives of the institution at any time, and appropriate financial records shall be maintained for the purposes of audit.
      3. Each institution may require any or all organizations to submit an annual financial report reflecting all revenues received and disbursed by the organization, and/or an interim financial report or such a report concerning any fund-raising activity of the organization.  If required, this report shall be a requirement for renewal of organization registration.
    2. Organization Officer
      1. Each organization shall designate an officer of the organization who is responsible for the collection and disbursement of funds and the maintenance of books and records.
    3. Banking
      1. All deposits and disbursements must be made through an account maintained by the college’s business office.  No student organizations may have external bank accounts.
    4. Fundraising
      1. The college must approve or designate an official that must approve all fundraising activities of student organizations.
      2. At the time of approval of the fundraising activity the college must provide the student organization officers a document that explains the required procedures of the fundraising activity.  Procedures may require count sheets verified and approved by two individuals preferably with one of the individuals being an employee/sponsor/advisor.
      3. Procedures will at a minimum address the safekeeping of funds until funds are deposited with the business office; the requirement that all funds received must be deposited with the business office by no later than the next business day after receipt; and no disbursements may be made from the funds received before being deposited.
    5. Disbursements
      1. The college must implement disbursement approval procedures that will ensure that goods or services have been received before the payment is made.  At a minimum, the disbursements must be approved by the organization advisor or other college official familiar with the disbursements.
      2. No disbursements may be made from the funds received before being deposited.
      3. As with all expenditures, appropriate documentation (receipts, invoices, etc.) must be maintained to support the expenditures.




T.C.A. § 49-8-203.


New Policy approved at TBR Board Meeting, March 31, 2022.