Finances

Each undergraduate organization is fully responsible for its own finances. Officers should be aware that they are personally responsible for the payment of debts incurred during the period for which they are responsible for the organization. Please discuss any financial difficulties with the Office of Student Affairs. We are more than happy to help or advise you.

Financial Records

If your group would like assistance thinking through your yearly budget, you may reach out to your Student Organizations Consultant at the Yale College Dean’s Office. Organization leaders should keep original receipts and maintain balanced accounts. Make sure to maintain a record of all income, expenses, and supporting documentation. The University may audit records at any time. If your organization operates within a residential college, make sure to consult with the Heads of College to determine what additional reporting they may require. Incorporated student organizations are advised to consult with the Internal Revenue Service for specific information regarding tax obligations and responsibilities.