What is an Agency Account?
All fully approved student organizations are eligible to open an on-campus Agency Account which is an alternative to an off-campus bank account. While off-campus accounts are more flexible, they provide no oversight by the UNC Charlotte staff. On-campus Agency Accounts are advantageous because they require UNC Charlotte staff approval of all expenditures, which will eliminate overdrafts and help prevent misuse of funds. Also, an Agency Account does not require a tax identification number from the Internal Revenue Service (IRS).
Agency Accounts follow the spending guidelines set forth by UNC Charlotte.
a) All accounts must maintain a minimum balance of $25.00, and a minimum balance of $50.00 when renting a vehicle. If the balance falls below the required minimums, funds cannot be accessed.
b) Funds for deposit must be submitted to the Financial Support Specialist (Popp Martin Student Union room 210).
c) Money that is deposited cannot be accessed until the next business day or until the account is updated by the University’s financial system.
d) The signatures of the president or treasurer (after adhering to SAFC Statutes, Section VII, Subsection 6.b), the SGA Administrative Assistant, and SAFC Business Manager are required for all expenditures.
e) If an organization’s agency account is overspent, their registration with the Student Government Association will be revoked and will not be reinstated until the negative balance is settled.
To learn more about an Agency Account, click on the documents listed below to review and print the application and forms.