Finance & Funding

Registered student organizations are responsible for managing their finances and maintaining accurate financial records. Organizations may also have access to several university funding opportunities depending on their eligibility, activities and existing sources of support.

Use the information below to explore funding options and understand basic financial responsibilities related to organization bank accounts, taxes and financial management.

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Funding Opportunities

Registered student organizations may be eligible for funding through several university sources. Eligibility, application requirements, deadlines and permitted uses vary by funding source.

Organizations should review the requirements for each opportunity before applying and should not assume that registration as a student organization automatically guarantees funding.

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Student Government Association Funding

The Student Government Association allocates a portion of student service fees to eligible registered student organizations. SGA maintains the application process, funding regulations, required forms, deadlines and information about the use of allocated funds.

Organizations seeking SGA funding should use the current SGA funding information rather than relying on forms or instructions from previous fiscal years.

Student Organization Funding

SGA Funding Forms

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Student Affairs Core Values Funding

Student Affairs Core Values Funding provides another potential source of support for registered student organizations. Funding is intended to support eligible student organization programming that contributes to Texas Tech's priorities and serves the university community.

Organizations should review the current application requirements before planning an event around this funding source. Requirements may include organization standing, program eligibility, submission deadlines and post-event reporting.

Student organizations should use the current application provided by Student Affairs when requesting Core Values Funding.

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Student Organization Supplemental Funding

Student Involvement has limited supplemental funding available to support eligible registered student organizations that need additional financial support after using other available university funding sources.

Supplemental funding is intended to help support qualifying organization events and programs. Availability is limited and submitting a request does not guarantee funding.

Organizations considering supplemental funding should contact Student Involvement or review the current request process in TechConnect before making financial commitments.

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Bank Accounts & Financial Records

Texas Tech University and Student Involvement do not manage or regulate off-campus bank accounts established by student organizations. Organizations that maintain their own accounts are responsible for establishing appropriate financial controls and keeping accurate records.

Recommended financial practices include:

• Maintain clear records of income, expenses, deposits and reimbursements.
• Use more than one person to review or approve organization expenditures.
• Limit access to organization funds and banking information.
• Review bank statements regularly.
• Keep organization funds separate from members' personal funds.
• Update authorized account users when officers change.
• Transfer financial records and account information during officer transitions.

Organizations should maintain enough documentation for future officers to understand the organization's financial history and current financial position.

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Taxes & EINs

Registered student organizations are separate from Texas Tech University for banking and tax purposes. Registration as a student organization does not give an organization access to the university's tax-exempt status or tax identification number.

An organization opening its own bank account generally needs its own Employer Identification Number, or EIN. Organizations are responsible for determining their own federal and state tax obligations and should not use Texas Tech University's tax-exempt number for purchases made through an organization's independent bank account.

Organizations affiliated with a local, state or national organization should check with that organization to determine whether an existing tax status or financial structure applies.

Student Involvement does not provide tax or legal advice. Organizations with questions about tax filing requirements or tax-exempt status should consult an appropriate tax professional or the applicable government agency.

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Financial Management

Strong financial practices help protect an organization and make leadership transitions easier. Treasurers and other organization officers should establish a budget, provide regular financial updates to members and maintain documentation for purchases, deposits and reimbursements.

Organizations should also plan for leadership transitions by making sure incoming officers receive current account information, financial records, outstanding obligations and information about upcoming funding deadlines.

Students who would like help developing personal or organizational budgeting skills can also explore financial education resources available through Red to Black.

Red to Black

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Questions About Organization Finances?

Student Involvement can assist with general student organization financial resources and help organizations identify the appropriate office for funding questions. Questions about SGA allocations, reimbursements or SGA funding requirements should be directed to the Student Government Association.

Student Involvement
Student Union Building, Room 011
1 (806) 742-5433
studentorgs@ttu.edu