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Organizational Safekeeping Accounts

Chapter 6140
Revised August 5, 2010

Table of Contents

.010 Introduction
.020 Application
.030 Depositing of Funds
.040 Disbursements
.050 Reporting Requirements
.060 Questions
Related Content
.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 Division of Financial Services 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 Division of Financial Services 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 Division of Financial Services 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 Division of Financial Services, Cashiers and Student Accounts and the deposit information is to be submitted through the cashiering software, CASHNet. (See Chapter 6110, Section .040.) Monies are to be taken to 212 Anderson Hall 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 Payment Voucher (APV). These forms are available on line through the Division of Financial Services E-Forms. The APO is to be submitted to the Division of Financial Services, Accounts Payable office where it will be checked and forwarded to the Division of Financial Services, Cashiers and Student Accounts for issuing the check. The check will be written and sent to the requesting organization for submission to the payee.

.050  Reporting Requirements

Any Federal, State or local reporting required on transactions processed in an Organizational Safekeeping account is the responsibility of the requesting organization. The Division of Financial Services 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 Division of Financial Services, Financial Reporting and Fixed Assets, (785) 532-1853. Questions related to depositing to or disbursing from an Organizational Safekeeping account are to be directed to the Division of Financial Services, Cashiers and Student Accounts, (785) 532-6317.