The Student Organization Finance Office's (SOFO) primary functions are to disperse funds for student organizations and to assist with the fiscal management of the following accounts:
- SGA Budget, SGA Bill Allocations
- Custodial Funds
- Georgia Tech Foundation Funds
- Parents Fund for Student Life & Leadership
- Funds received from SGA Budget and Bills Allocations will be transferred into an organization's SGA account through Georgia Tech's One Budget System (IBS).
- Disbursement for the line items that were allocated in the budget or bills will be drawn from this account and must be approved by SOFO staff.
- Unspent/surplus funds at the end of the fiscal year (June 30th) will transfer back to SGA's main operation account.
Custodial & Foundation Accounts
- Funds that organizations collect from membership dues, ticket or fund-raising sales, etc, can be deposited into an organization's CUSTODIAL ACCOUNT.
- Funds received from Institute sponsorships or corporate and private donations will be deposited to the student organization's GT FOUNDATION ACCOUNT to ensure gift receipts are issued.
- The account balances at the end of each fiscal year (June 30) will carry forward to the next fiscal year.
Setting Up a Custodial/Foundation Account
- Make sure that your organization's information is updated in Engage and that you are in good standing with the Office of Student Engagement.
- Submit your request via email to the proper SOFO staff member - including your organization's name (to be used as the account name), and include contact information (name, phone number, email address) of your President and Treasurer.
- For Foundation accounts, the organization will need to include an explanation of how the funds will be used. A donation (check or cash) of any size is also needed to establish the account with the contact information of the donor included (make sure the check is written to Georgia Tech Foundation with your organizations' name on the memo line).
- Normal processing time is 5-7 business days. You will be contacted via email once the requested account has been established.