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Financial Accounts for Club Sport Organizations

Each club sport organization has up to four accounts to deposit and withdraw club funds. Club sport organizations MAY NOT hold funds in any external bank account. Funds may be withheld if club sport organizations fail to adhere to the policies and procedures in this manual, or for infractions of Penn State University policies and procedures.

Additional funds from the Athletic Department may be requested on an as needed basis.

Summary of Accounts and Funding

1. Athletic Travel and Equipment Fund (ATEF): Funds provided by the Athletic Department for the purpose of supporting travel to regional and/or national competition and purchasing safety equipment. ATEF funds are available on a grant/as needed basis.

2. Club Sports Allocation (Allocation): Funds provided by the Athletic Department for the purpose of supplementing club sport organizations’ self generated funds. Allocation funds are available on a budgeted annual basis.

3. Associated Student Activities (ASA): Self-generated finds (dues, fundraising revenue, etc.). All funds generated by club sport organizations musts be deposited into an ASA account.

4. Office of University Development (OUD): Funds donated by individuals or businesses, and interest earned from those donations. Donations to OUD accounts are tax deductible.

5. Endowment: Large donations earmarked for specific purposes by the donors. Only the interest from the donations is available for use.

FREQUNTLY ASKED QUESTIONS	ACCOUNTS
	ATEF	ALLOCATION	ASA	OUD	ENDOWMENT
Where does the money come from?	Club Sports Program	Club Sports Program	Dues, fundraisers, etc.	Contributions from alumni, parents, etc.; interest on principle	Interest on principle
Who must sign the Request for Funds?	1) Club Sport Organization Treasurer 2) Club Sports Coordinator	1) Club Sport Organization Treasurer 2) Club Sports Coordinator	1) Club Sport Organization Treasurer 2) Club Sports Coordinator	1) Club Sport Organization Treasurer 2) Club Sports Coordinator 3) Associate Director of Athletics	1) Club Sport Organization Treasurer 2) Club Sports Coordinator 3) Director of Athletics
How long does it take to get the funds?	7 days	7 Days	5 Days	7-10 Days	7-10 Days
Can Funds be Deposited Into Account by Club Sport Organization?	No	No	Yes	Yes	Specific guidelines for each account
Do Funds Carry Over From Year to Year?	No	No	Yes	Yes	Yes
What can account funds be used for?	Travel to regional and/or national competition, safety equipment	See below	See below	See below	See below

TRAVEL
	ATEF	ALLOCATION	ASA	OUD	ENDOWMENT
	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*Any expenses over $500 must be pre-approved by Club Sports Coordinator via Financial Request, regardless of type of transaction.	*All expenditures must be pre-approved by Club Sports Coordinator via Financial Request, regardless of amount or type of expenditure.
Tournament/ Event Entry Fees/ Registration Fees	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	Specific guidelines for each account
Hotels During Travel	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	Specific guidelines for each account
Vehicle Rental	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	Specific guidelines for each account
Gas/toll expenses incurred during travel outside of the State College area	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.
Gas expenses incurred traveling to club activities in the State College area	No	No	No	No	No
Bus Rental	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	Specific guidelines for each account
Airline Tickets	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	Specific guidelines for each account
Travel Meal Per Diem (Cash Advance)	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	*Yes – Must be pre-approved by Club Sports Coordinator via Travel Request.	Specific guidelines for each account
Meal/Food Reimbursement	No	No	*Yes	No	No
PAYMENTS TO INDIVIDUALS
	ATEF	ALLOCATION	ASA	OUD	ENDOWMENT
Lump Sum Payments to Coaches/Instructors	No	No	No	No	No
Hourly Wages to Coaches/Instructors	No	No	Yes – For approved Coaches/Instructors who have completed all PSU employment paperwork	No	Specific guidelines for each account
Club Sports Supervisor Hourly Wages	No	Yes – Must be pre-approved by Club Sports Coordinator	Yes	Yes – Must be pre-approved by Club Sports Coordinator	Specific guidelines for each account
Officials/Guest Instructors/ Professional Services	No	Yes (with invoice or Statement of Service Form). Must be pre-approved by Club Sports Coordinator via Financial Request.	Yes (with invoice or Statement of Service Form).	Yes (with invoice or Statement of Service Form). Must be pre-approved by Club Sports Coordinator via Financial Request.	Specific guidelines for each account

MEMBERSHIP FEES
	ATEF	ALLOCATION	ASA	OUD	ENDOWMENT
	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*Any expenses over $500 must be pre-approved by Club Sports Coordinator via Financial Request, regardless of type of transaction.	*All expenditures must be pre-approved by Club Sports Coordinator via Financial Request, regardless of amount or type of expenditure.
Group Organizational Membership Dues	No	*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	*Yes (if required for club participation)	*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	Specific guidelines for each account
Individual Organizational Membership Dues	No	No	No	No	No
EQUIPMENT
	ATEF	ALLOCATION	ASA	OUD	ENDOWMENT
	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*Any expenses over $500 must be pre-approved by Club Sports Coordinator via Financial Request, regardless of type of transaction.	*All expenditures must be pre-approved by Club Sports Coordinator via Financial Request, regardless of amount or type of expenditure.
Club Equipment Purchases	*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	8Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	*Yes – must be pre-approved if purchasing weapons or totaling over $500.	*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	Specific guidelines for each account

EQUIPMENT (continued)
	ATEF	ALLOCATION	ASA		OUD	ENDOWMENT
Individual Equipment Purchases	No	No	Subject to review (prior to incurring expense) by Club Sports Coordinator via Financial Request.		No	Specific guidelines for each account
Equipment Rental	No	*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	Yes		*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	Specific guidelines for each account
RISK MANAGEMENT
	ATEF	ALLOCATION	ASA		OUD	ENDOWMENT
	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*Any expenses over $500 must be pre-approved by Club Sports Coordinator via Financial Request, regardless of type of transaction.		*All expenditures must be pre-approved by Club Sports Coordinator via Financial Request, regardless of amount or type of expenditure.
First Aid/CPR/AED/ Lifeguard Certifications for Safety Officers and Coaches/Instructors	No	*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	Yes		*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	Specific guidelines for each account
First Aid Supplies	No	*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.		Yes	*Yes – Must be pre-approved by Club Sports Coordinator via Financial Request.	Specific guidelines for each account

OTHER
	ATEF	ALLOCATION	ASA	OUD	ENDOWMENT
	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*All expenditures must be pre-approved by Club Sports Coordinator, regardless of amount or type of expenditure.	*Any expenses over $500 must be pre-approved by Club Sports Coordinator via Financial Request, regardless of type of transaction.	*All expenditures must be pre-approved by Club Sports Coordinator via Financial Request, regardless of amount or type of expenditure.