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Business Office

Student Organization Services

The Student Activities Business Office (SABO) provides banking services and accounting advice to registered student organizations. Student organizations are encouraged to establish an account with SABO. Student organizations that receive funds from the University are required to have an account with us. SABO provides organizations with tools, resources and guidance to operate under sound business practices and principles.

Organizations interested in opening an account or learning more about being responsible for their organization's finances are encouraged to contact the SABO staff at (860) 486-3163, email us at dsabusinessoffice@uconn.edu, or stop by our office in room 314 of the Student Union, Monday – Friday between 8:30 am to 4:00 pm.

Services for Student Organizations:


Chief Financial Officer's Responsibility

Financial Statement Due Dates
  • 11/1/07 with activity through 10/31/07
  • 12/15/07 with activity through 12/14/076
  • 3/1/08 with activity through 2/29/08
  • 5/10/08 with activity through 5/9/08

All student organizations need to elect or appoint a Chief Financial Officer (CFO) to manage their financial matters. An organization that has a large membership, many fundraiser's, events or programs should consider having co-financial officers or an assistant financial officer to share the financial responsibilities. The financial officer should keep the officers and members informed about the organization's financial activities. They will be more likely to work to achieve the financial goals if they understand the financial responsibilities. The financial officer is usually responsible for:

  • Collecting funds and depositing to the account
  • Paying bills
  • Keeping a record of all transactions, i.e. deposits, checks and adjusting entries
  • Monitoring the organizations budget
  • Preparing monthly financial reports and documents to keep the organization informed about their financial situation

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Financial Planning – Budgeting

Student organizations are strongly encouraged to develop a budget plan for the year. The Student Activities Business Office staff can help you with the budget process. Students should consider the following when developing a budget.

  • Involve key officers and members in the budget planning process. This may help ensure that all revenue sources and related expenses will be considered.
  • Refer to the prior year's budget and financial statements. A review of prior year income and expenses can be helpful in planning for the future.
  • Be realistic and conservative when estimating income and expenses.
  • Project revenue. Make a list of planned sources of income, i.e. dues, income from services rendered.
  • Estimate expenses. Make a list of all fixed and variable costs, i.e. telephone, national dues, and planned expenses such as refreshments at meetings or advertising expenses that your organization may incur throughout the year.
  • Establish program budgets. A program budget should be established for a specific event. Be sure to estimate and include all the expenses for an event or program before you set the admission price.
  • Plan for the future! Set some money aside to save to purchase new equipment. Once the budget has been established, it should be referred to often and updated as needed.

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