Deposits

Cash Receipt Deposit Voucher Form

Any money earned through fundraising, donations, or dues belongs to the organization at Drexel University. All income must be deposited in either a student organizations 17-SAFAC or 71-Rollover account.

17-SAFAC Deposits

Student organizations will deposit money into their 17-SAFAC account only if SAFAC funds were used to cover the expenses for fundraising activities and only the amount funded from the 17-SAFAC account will be deposited back into the 17-SAFAC account.

  • Example 1: Organization uses $300 from the 17-SAFAC account to buy t-shirts. The organization raises $700 in t-shirt sales. $300 must be deposited back into the 17-SAFAC account. The remaining $400 is the organizations personal profit and must be deposited into the 71-Rollover account.
  • Example 2: Organization uses $300 from the 17-SAFAC account to buy t-shirts. The organization raises $200 in t-shirt sales. All $200 must be deposited back into the 17-SAFAC account and no personal profit exists to deposit into the organizations 71-Rollover account.

71-Rollover Deposits

Student organizations will deposit all dues and donations into their 71-Rollover account.

All fundraising money, after a 17-SAFAC recovery (see 17-SAFAC Deposits policy), will be deposited into a student organizations 71- Rollover account.