Account Types

17 - SAFAC Account

All transactions related to SAFAC funding will occur through an organization's 17-SAFAC Account. This is one of two accounts created for all student organizations. The account will consist of a six digit fund number and a four digit org number:

FundOrg
170252 - 3554

The following information under the SAFAC Funding section of this policies and procedures manual will apply only to an organizationís 17-SAFAC account.

At the end of the fiscal year any unused money in an organizationís 17-SAFAC account will roll back into SAFAC for redistribution.

Student organizations must be fully recognized in the fiscal year in which they wish to access their funds. Any organization not fully recognized will be unable to access their account until full recognition is complete.

Note: The SAFAC Advisor and Assistant Dean for Campus Engagement reserves the right to deny any purchase request or reimbursement from this account which may violate SAFAC policies, Drexel Institutional policies, state and/or federal laws.

71 - Rollover Account

The 71-Rollover account is the second of two accounts created for student organizations. This account will consist of a six digit fund number and a four digit org number:

FundOrg
710254 - 3526

The policies and procedures which guide the use of the 17-SAFAC Account do not apply to an organizationís 71-Rollover account. Student organizations can utilize money in this account to pay for any expense which does not violate Drexel Institutional Policies, State and/or Federal laws.

Student organizations do not lose any money in this account. At the close of the fiscal year the ending balance of the 71-Rollover account will be the beginning balance in the next fiscal year.

Student organizations must be fully recognized in the fiscal year in which they wish to access their funds. Any organization not fully recognized will be unable to access their account until full recognition is complete.

Note: The Assistant Dean for Campus Engagement reserves the right to deny any purchase request or reimbursement from this account which may violate Drexel Institutional policies, state and/or federal laws.