The Bursar's Office holds two accounts for SOAC constituted organizations, a Profits account and a SOFC account. Non-constituted organizations will only have a Profits account. To learn more about your accounts, please reference the information on this page or visit the Financial Guidebook.
SOFC
As a SOAC constituted organization, it is possible to apply for funding from SOFC. All SOFC allocations will go into your organization's SOFC account. The use of these monies are restricted under the SOFC constitution and must be used for the goods/events it was allocated.
Your SOFC Account number is formatted as 81XXX, with the last 3 digits being specific to your organization.
Summary of Regulations on SOFC Money Spending:- Organizations that are funded by SOFC can not charge Wellesley students admissions to activities that are supported by SOFC monies.
- All Non-Honorarium Organizations can spend only $25 on Food each year, and for event a maximum of $100 is set. You can request extra money (using the budgeting formula) for meals for your lecturer/performer.
- Honorariums are not required to abide by the $25 limit, but are strongly encouraged to use their money on food sparingly.
- SOFC money can not be donated to charities, but Profits money can be.
- SOFC money can not be used to purchase capital goods lasting over one year. However you can purchase: Uniforms and performance attire, materials in accordance to your main purpose, and repair of capital goods you already own.
- SOFC money can not be used for Off-campus programming that will not have direct on-campus ramifications.
- SOFC money has to be requested through a Budgeting Process.
Profits
Your organization, if SOAC constituted or not, has a Profits Account. Your Organization's Profits Account is funded through your own organizations Fundraising efforts. Your Profits Account can be used for any purchase you need that is legal. All the regulations on your SOFC money do not apply your Profits Account.
Your Profits Account number is formatted as 83XXX, where the 3 last digits are unique to your own organization.
With so many organizations on our campus your organization needs to rely on your Profits Account more. If your Profits Account has a negative balance your accounts will be frozen until you have a positive balance. This means that your members will not be able to be reimbursed or access your money until you deposit money into your Profits Account.
Transactions
The Student Bursar's Office is your first point of contact to access your funds in either your SOFC Account or your Profits Account. If you have questions please feel free to contact the Student Bursar, but please try to work through the forms on your own first.
Summary of Types of Transactions:
- Check Request/Petty Cash Request for Goods
- Check Request for Services
- Deposit into Profits
- Transfer Funds to other Student Organizations
- Request a Account Statement
FOAPAL Account Number:
This number is used by the Controller's Office and you will need to use it on all of the
forms you submit to the Student Bursar's Office.
This information can also be found on the back of the Check Request Form.
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Transfers
It will take from 7-10 business days for the Student Bursar's Office to process this request and for it to show the update in your account. Please Plan Ahead!
You can transfer funds from Profits Accounts to SOFC Accounts, but transfers from SOFC Accounts to Profits Accounts are not allowed. This is because the restrictions that are placed on SOFC money makes these accounts different from each other.
Uses for a Transfer Form:
- If your organization decided to donate funds to another organization.
When you ask departments for donations, you should have their funds transferred into you Profits Account to maximize your ability to utilize their money.
Check Request
It will take from 7-10 business days for the Student Bursar's Office to process this request and for it to show the update in your account. Please Plan Ahead!
Uses for a Check Request:
- Payment to a coach, accompanist, or other individual who provided a service to your organization and needs to compensate.
- Payment to a company has provided a service, such as a DJ services, and has billed you for their compensation.
Make sure that you attach proof of payment, such as a receipt or an invoice. Please follow all of the directions of the form.
Deposits into Profits Account
It will take from 7-10 business days for the Student Bursar's Office to process this request and for it to show the update in your account. Please Plan Ahead!
Uses for a Deposit From:
- If you raised money through fundraising, you may have personal checks and/or cash to deposit in your account.
You will to submit two forms along with your cash and checks in a sealed envelope. The first form is the deposit slip located on the treasurer's conference and also found in the forms section of this site. The other is the Bank of America deposit slip. These are located in the top drawer of the pick-up/drop-off cabinet. Once you have completed all of the deposit slips the slips and the money for deposit in an envelope, drop it in the safe located in the cabinets in the Student Activities Room.
Account Statements
It will take from 2-3 days for the Student Bursar's Office to process this request and for it to show the update in your account. Please Plan Ahead!
This function is by no means supposed to replace your own budgeting system. Please track your own finances in order to ensure that all account information is correct.
To request an Account Statement, email "Account Statement." Make sure to include the name of your organization and your complete Wellesley email address (i.e. jsmith@wellesley.edu), not just your name on FirstClass. The Account Statement will be emailed to you.
Fundraisers
Holding fundraising events can be a great challenge, but they increase the flexibility of programming your organization will have in the future. The more creatively you think about how you raising funds, the more successful your efforts will be.
You must hold one fundraiser each semester. If you fail to hold a fundraiser you will be fined $25 per each fundraiser not successfully held.
Please contact the Student Bursar if you need creative fundraising ideas or need help finding a vendor to get merchandise from.