7.6.6 Establishing a New Agency Account

Policy

Agency funds are defined as resources held by the institution as custodian or Budget Officer for individual students, faculty, staff members, or organizations.

A University employee representing an organization may request the establishment of an Agency account by submitting a  Request for New Agency/Custodial Account form. The account’s Budget Officer, the Budget Office, and the Comptroller’s Office must approve the request prior to establishment of the account. New Agency accounts may be needed when:

• A new registered student organization is formed.
• A new course material fee has been approved.
• An organization is formed and will be collecting registration or ticket revenues, generally custodial in nature.
• A new revenue stream that falls under an entity defined by Policy 7.6.5 is identified.