Financial assistance for student organizations at the university level
Cain, Harlan E.
MetadataShow full item record
The faculty advisers of 269 student organizations of the four universities under the Teachers College Board of Illinois were surveyed to determine the need of their organization for financial service or assistance in order to help their organization to maintain better accounting records. The questionnaire was composed of 18 questions with 26 parts ranging from the amount of annual budgets or expenditures, source of income, audit programs, filing of federal tax forms, to what financial assistance they now receive and what additional services should be offered by university personnel. The survey disclosed that the biggest problems that the faculty advisers have with their organization include: difficulty of obtaining adequate financial reports, lack of consistent bookkeeping systems, not enough time to devote to financial problems and the concept of budget planning. Financial services now available to student organizations include: banking, auditing and some financial counseling. Additional services requested included: assistance in setting up accounting systems, preparation of tax forms, training of treasurers and the preparation of a handbook for treasurers to follow. The faculty advisers would benefit if the universities would establish a formal financial counseling service in the business office. The services offered should be well publicized, and regular annual training programs should be held to acquaint the new officers with university policies and accounting procedures.