Financial Policies & Guidelines

Account Numbers and Deposits

In compliance with the Wisconsin Technical College System state directives, all club funds will be consolidated into the NTC District treasury. No individual checking, savings, or peer-to-peer payment applications (ex. Venmo, PayPal, Cash App or Apple Pay) may be maintained for or used by a club.

All club funds will be deposited with NTC Student Finance. All disbursements will be requisitioned and paid by check through NTC Financial Services. It is the responsibility of each club to account for and keep accurate records of its account. Student Life upon request may run a budget report detailing revenues and expenses.

Tip: When entering club financials into Workday, list your SUB first. Other budget pieces will autofill!

  • Program = PG93400
  • Fund = FD750
  • Sub = unique number for each club is available in the club list
  • Cost Center = CC134
  • Region = REG002 (all clubs regardless of campus are region Wausau)
  • Designate the type of budget – revenue or spend:
    • Revenue Account (for deposits) = RC10060 – 4720
    • Spend Account (for expenses) = Sc10079 – 5500

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Treasurer and Advisor Responsibilities

Treasurer is responsible for maintaining accurate club financial records. Advisors provide oversight and support to ensure club finances are handled in accordance with college expectations.

Treasurers and advisors work together to:

  • Maintain accurate financial records
  • Review financial activity on a regular basis
  • Ensure deposits and expenditures are properly documented
  • Coordinate with Student Finance as needed

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Club Financial Records

Clubs are expected to maintain basic financial records to support transparency and continuity.

  • Financial records should be kept in a shared physical or digital location accessible to both the treasurer and the advisor.
  • At a minimum, records should include:
    • A log of deposits
    • A log of expenditures
  • The treasurer and advisor should review financial records monthly, preferably during regular club meetings.
  • If time does not allow for review during a regular meeting, a separate review meeting should be scheduled.

NTC Finance maintains the official financial records for all clubs and may request documentation as needed.

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Cash Handling and Safeguarding Funds

Clubs are expected to follow basic internal controls when collecting, holding, and depositing cash.

  • Whenever possible, two individuals should be involved when handling cash-based transactions. This typically includes the treasurer and either another student member or the club advisor.
  • Personal funds must never be mixed with club funds. Club money must be kept separate at all times.
  • Club funds should not be used to make change for individuals. Students needing change should be referred to Student Finance.
  • Cash should not be stored in personal vehicles, homes, wallets, or backpacks.
  • If cash cannot be deposited immediately, the club should coordinate with Student Finance or advisor to secure the funds on campus and deposit the next business day.
  • Clubs may accept cash or checks only for club-related transactions. The use of peer-to-peer payment applications (such as Venmo, PayPal, Cash App, or Apple Pay) is not permitted for club business.

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Fundraising and Revenue Collection

Clubs may raise funds through approved fundraising activities in accordance with college guidelines.

For fundraisers involving physical items (such as raffle tickets or gas cards), clubs are expected to maintain a simple tracking system. Tracking records should include:

  • Item or card number
  • Name of the individual responsible for selling the item
  • Date the item was sold or returned

Sales tracking records should be reviewed at least every two weeks, preferably during regular club meetings, to verify that funds collected match items distributed.

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Collecting Checks

All checks must be made out to NTC or they will be returned to the club.

Any checks received should be deposited immediately to avoid issues with stale check dates, closed accounts, etc. Do not accept post-dated checks as NTC does not hold payments. Deposits are made the day Student Finance receives them.

When a check is returned to NTC, the club will be charged for the NSF check plus the $25.00 NSF service fee.

If the club is having problems balancing deposits with its account, work with Financial Services, Student Finance or Student Life to make sure all records are straight. Clubs are encouraged to keep all receipts for later reference.

If NTC sends the club a bill, it will go to the club advisors and should be taken care of upon receipt.

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Club Deposit Procedures

  • All receipts collected by student clubs will be deposited with Student Finance for credit to the respective club account. Note the following deposit guidelines:
    • Day of Sales (such as candy, popcorn, etc.) = deposit same day
    • Day of Event Registrations = deposit same day
    • Membership Dues = deposit same day
    • Ongoing Sales/Fundraiser = deposit at least weekly
  • Please additionally review the Cash Handling and Safeguarding Procedures section near the top of this page.
  • Count cash receipts and ensure all checks are written out to NTC.
  • Deposits should be verified against the club’s sales or tracking records prior to submission. Before submitting a deposit, clubs should total all sales using their tracking method (such as a sale log, order form, ticket count, or inventory sheet) and compare the amount to the cash and checks collected. If there is a discrepancy, it should be reviewed and resolved before the deposit is submitted. Keeping copies of sales records with deposit documentation helps ensure accuracy and accountability.
  • Print/complete the Club Deposit Form – Plain PDF or MS Word Version.
    • Use a separate deposit form for different types of income. For example, separate dues from fundraising sales from donations.
    • To ensure accuracy, two club representatives are required to sign the deposit form.
    • Account for sales tax on applicable sale/fundraising items. (See information further down on this page.)
  • Turn in Department Deposit Form and cash/check receipts to NTC Student Finance Monday-Thursday: 7:30 a.m. to 4:30 p.m. and Friday: 7:30 a.m.-4:00 p.m.
  • The student making the deposit will receive a copy of the receipt AND a copy will be emailed to the advisor noted on the form. Record the net deposit in the club account records.

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Purchase Card

Advisors can work through their supervisor and NTC Finance to request a purchase card (or P-Card). This is the preferred method of payment for club expenditures. Students are not eligible to receive nor use p-cards for purchases.

Advisor Meal Expenses During Travel

NTC Student Life covers advisor expenses and meal costs during travel.

  • If clubs is paying for student/advisor meals in ONE transaction:
    • The p-card can be used for students and advisors on one transaction.
    • SLife will then reimburse advisor portion. When balancing the p-card in Workday, code everything to the club account. Then work with SLife to Create Journal for the reimbursement from SLife to club.
  • If the advisor is paying for their meals separately from the students:
    • In-state event/travel: Advisors pay for their own meals out of pocket. Submit per diem via Workday Expense Report upon return. SLife still covers.
    • Out-of-state event/travel: Prior to travel advisors submit Workday Spend Authorization outlining fuel, food, hotel, etc. Upon return, submit Workday Expense Report and SLife still covers.
    • Reminder: You MUST submit the Workday Expense Report after travel to receive the per diem for in-state or out-of-state travel.

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Non-Profit Status

NTC is not considered a non-profit, so clubs cannot be non-profit under NTC. A club can choose to apply for non-profit status.

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Tax Exempt

  • Clubs may use the NTC sales tax exempt status.
  • The form is available on the NTC Intranet: Finance > Forms > YYYY Tax Exemption Certificate (YYYY = current calendar year).
  • This exemption is specific for Wisconsin; however, you can ask for other states when traveling.
  • Use the tax exempt form with restaurants and hotels. Remember to ask right away when booking, making reservations, or first being served.
  • There is a NTC specific form used for Menards, Office Depot, Home Depot, Dollar Tree, Dollar General, and Best Buy. The form is available on the NTC Intranet or by contacting Finance.
  • Wal-Mart uses a small card. It is based on the individual making the purchase and must be presented prior to checkout. An advisor can obtain this card through Wal-Mart guest services with the NTC tax exempt certificate. Once obtained, use the same card for every visit.

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Tax for Sales

While clubs are tax exempt, student club sales are taxable. Please use the list below to help determine which items are taxable or non-taxable.

Taxable Items

  • Food sales where food is purchased or donated and then prepared and sold (e.g. nachos, caramel apples, egg rolls, popcorn, etc.)
  • Sale of items at a profit, whether or not tax was paid at purchase:
    • Admission to banquet or other events
    • Apparel (e.g. T-Shirts, headbands, hats, etc.)
    • Books
    • Candles (e.g. Yankee Candle Sales)
    • Candy and candy bars
    • Christmas wreaths or ornaments
    • Craft items
    • Coffee (prepared) and donuts, pastries, etc.
    • Cookies
    • Flowers, plants, poinsettias
    • Gift item (e.g. candle holders, business card holder, coasters, cribbage boards, cutting boards, scarves, etc.)
    • Hansen’s Fundraising
    • Jerky and beef sticks
    • Mugs, cups
    • Nursing supplies, pressure cuffs, stethoscopes, etc.
    • Pictures
    • Services (e.g. lawn mower or snow blower repairs, vehicle work)
    • Stuffed animals and toys
    • Toothbrushes

Figuring the Sales Tax

Divide the total dollar amount received for a taxable item by 1.055 to determine the amount to be deposited into your club account.

Example:

  • $100 is collected on total candy sales. This is your total deposit amount.
  • $100/1.055 = $94.79 sales to club. This amount is deposited in the club account.
  • $100 – 94.79 = $5.21. This is the amount listed as sales tax.

Non-Taxable Items

  • Coupon booklets
  • Golfing (as long as taxes are paid to the golf course)
  • Membership dues (local, state, national)
  • Monetary donations
  • Raffles (If it is an on-going activity, clubs are encouraged to make a deposit each week to ensure the money stays safe.)
  • Student self-payments for trips and conferences

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Club Dues Considerations

Please consider the following when collecting payments for club dues:

  • Students can pay dues electronically directly through Student Finance by calling or stopping at any of our campuses when they are open. They’ll need to indicate the payment is for and that it’s for dues. Students should receive a receipt and provide a printed or electronic copy to the club treasurer/advisor to show proof of payment. The treasurer/advisor should record in club records.
  • Club members can make payments via check. They should always be payable to Northcentral Technical College or NTC. In the memo they should include the club name and what the payment is for.
  • While not ideal, club members can also pay cash for membership dues. This is best done during a club meeting. Receipts should be given noting the date, amount, and reason for payment. That money should then immediately be walked over to NTC Student Finance and deposited into the club account.

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Club Disbursement Procedures

Requests for a check should be made to NTC Finance via Workday. Checks will be mailed directly to the recipient. Please allow at least 2 weeks for a check to be processed/mailed.

  • Obtain invoice for total amount needed.
  • Advisor can submit the request via Workday using Supplier Invoice Request.
    • Attach the invoice.
    • Attach documentation of student approval (such as minutes from a club meeting).

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Club Expenditure Guidelines

Please note the expenditure guidelines listed below are specifically related to club funds earned through dues, fundraising, donations, etc. Funds received through the Club Funding Request process, have specific allowable expenses, maximum amounts, and time-sensitive requirements. Please review the Club Funding Request Guide for more information.

Club fund expenditures must meet the following criteria:

  • As appropriate, all students in the club should have the opportunity to participate in the events provided by club funds.
  • Expenditures concerning travel, room, and board must conform to the student travel policy and within the existing college policies and procedures.
  • All expenditures must be reviewed and approved by both the designated student club advisor and a club member. Club minutes should reflect approvals. Please attach to all payment requests.
  • All expenditures must have itemized receipts for reimbursement. A copy of a credit card receipt with total dollar amount will not be honored.
  • All requests for reimbursement must follow the college finance deadlines, including expenses reimbursed during a fiscal year. No reimbursements will be honored after the deadlines to submit in a fiscal year.
  • Student Life has the authority to audit all expenditures and make final decisions regarding appropriate reimbursement and/or expenses.
  • Clubs do not have access to petty cash and should not maintain a petty cash account. All financial transactions should be completed using the club’s account.

Appropriate Club Expenditures

Conference Registration:

Registration receipts must accompany this claim.

Transportation:

The choice of transportation will be made based upon the most efficient and least expensive means of reaching the intended destination.

  • Bus:
    For large group travel, a bus may offer the best opportunity. Note the total cost will be divided by the number of travelers to obtain the per person rate. This will be calculated out to determine advisor cost (eligible for 100% reimbursement) and student cost (up to half reimbursable). Review the Club Travel Resources for Reserving a NTC Vehicle and Reserving a non-NTC Vehicle as well as the General Policies page regarding Family and Alumni Participation.
  • NTC Fleet Vehicles:
    NTC fleet vehicles are the preferred travel recommendation for in-state, non-bus travel since the only cost is fuel. If more than one vehicle is needed, it is possible to obtain approval for student drivers. Note the total cost of fuel will be divided by the number of travelers to obtain the per person rate. This will be calculated out to determine advisor cost (eligible for 100% reimbursement) and student cost (up to half reimbursable).
  • Rental Vehicles:
    If fleet vehicles are not available, rental cars/vans are the next best option for small travel groups. Rentals must be driven by NTC employees. Note the total cost will be divided by the number of travelers to obtain the per person rate. This will be calculated out to determine advisor cost (eligible for 100% reimbursement) and student cost (up to half reimbursable). Review the Club Travel Resources for Reserving a non-NTC Vehicle for important rental information.

    • Reimbursement will be determined based on best-case travel scenario (4 people per vehicle) and calculated with the approved NTC District mileage rate for the roundtrip miles.
      Example: Group of 15 travelers in 6 personal vehicles to Wisconsin Dells.
      15 travelers ÷ 4 people per cars = 4 cars maximum
      246 miles roundtrip x 72.6 cents (2026 mileage rate) = $178.596 per car – round up to $178.60
      $178.60 per car x 4 cars = $714.40 maximum reimbursement to club
  • Personal Vehicles:
    • Please review the Club Travel Considerations and Forms for Personal Vehicles. Note the insurance requirements before planning for personal vehicle use.
    • Reimbursement is paid by the club directly to the approved vehicle owner after travel. Mileage is not paid in advance.
    • If approved for support funding, Student Life will reimburse the club based on best case travel scenario. Please review the example within the Rental Vehicles bullet section.
    • The group should travel as a caravan to events, leaving from a common meeting place (such as NTC parking lot) and maximizing the number of individuals to vehicle. Reimbursement will be according to the approved NTC District mileage rate.
  • Airfare:
    Reimbursement for commercial air travel will be limited to the lowest appropriate airfare. Reimbursement may exceed the lowest fare only if seats are unavailable at the lowest fare or if air travel at a higher rate will result in a clear cost savings to the club/Student Life. Review the Club Travel Resources for Out-of-State Travel approval requirements and process BEFORE purchasing tickets.
  • Other Transportation Expenses:
    • Reasonable charges for taxies, buses, and airline limousines, including tips not to exceed 20% of the charge, are reimbursable when other modes of travel are not available or practical.
    • Participants are required to obtain receipts where the cost of a one-way fare will exceed $15.00.
    • Parking expenses are allowed with receipt.

Lodging:

The choice for lodging will be based on cost, as well as location of the meeting or conference. Conference site hotels are acceptable choices, even if lower cost lodging is available in the area. Participants will be held personally responsible for room costs resulting from failure to notify the hotel of a change of plans. All lodging expenses must be supported by the original receipts furnished by the hotel or a copy if a room is shared. Charge card receipts are not acceptable. Participants are responsible for charges to the room (i.e. room service, phone, etc.) not incurred through their official capacity for the club. Review the Club Travel Resources for Accommodations/Lodging information.

Meals:

Individuals may be reimbursed for actual meal expenses incurred on club business when they are traveling overnight. Itemized receipts for meals are required and must be attached when filing claims for reimbursement. The names of all members in attendance must accompany the request, along with an itemized list of food purchases. The claim for meals must represent actual expenses.

  • The GSA.gov domestic per diem rates will serve as a guide to determining the maximum amount to be reimbursed. The club may reimburse participants up to 100% of the GSA.gov domestic per diem rates.
  • Student Life funds supporting club travel cannot be used for student meals.  
  • When an individual is entitled to reimbursement for two (2) or more consecutive meals in a day, the total reimbursement claim will not exceed the total of the eligible meal rates for the day.
  • No reimbursement will be made for the cost of alcoholic beverages.

Other Allowable Expenses:

Other expenses incurred by individuals acting in their official capacity of the club may be reimbursed if submitted with supporting documentation/receipts, including:

  • Refreshments/food for club functions.
  • Scholarships that do not use segregated fees as a funding source. Club must be able to verify how monies were raised to support the scholarship(s).
  • Awards banquets.
  • Postage.
  • Printing and duplicating.
  • Intramural athletic events.
  • Recreational and social functions.
  • Publications and promotional material directly related to the club’s mission.
  • Supplies for community service projects.
  • Awards.
  • Club supplies and equipment.
  • Speakers for meetings.
  • Club sponsored items (i.e. T-shirts, novelties, etc.).
  • Other items as approved by Student Life.

 Inappropriate Club Expenditures

  • Monetary payment to any NTC employee, advisor, NTC student or club member.
  • Contributions to political clubs or candidates.
  • Expenditures violating NTC college policies.
  • Direct financial support for academic expenses or professional certifications.
  • Because of security/liability, use of club funds to purchase gift cards for travel expenses (food, gas, etc.) is prohibited.

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