The Georgetown University Student Association Club and Activities Union voted unanimously Wednesday night in favor of a resolution calling for the creation of independent club accounts at the Georgetown University Alumni and Student Federal Credit Union.
The resolution, written by Student Activities Commission Chair Matt Connolly (CAS ‘04), will allow clubs to have their own accounts at GUASFCU for funds that are not given to them by SAC or the University.
“Currently clubs are keeping money in desk drawers and envelopes, but I want to change that,” Connolly said.
As the system stands now, University clubs are required to keep money in a University account.
The accounts at GUASFCU would give clubs more freedom to use their money as they please, Connolly said. The proposal would also guarantee that a club’s unused money at the end of the year would carry over into the next school year, Connolly said.
The proposal was previously approved by the GUSA cabinet. GUSA President Kaydee Bridges (SFS ‘03) explained that she supports this proposal because it would give clubs “a safer place for their money and a place where it will incur interest.”
Connolly said that he hopes that accounts would encourage clubs to raise their own funds by giving them more direct control over the money.
According to the proposal, it is not uncommon for club leaders to pay for events with their own credit cards. With accounts at GUASFCU, this would hopefully no longer happen, Connolly said.
Although the clubs would gain more control over funds under the proposed plan, Bridges said that SAC would continue to track donations. Some supervision is necessary because money often includes alumni donations, and alumni deserve to know how their money is being spent, Bridges said.
The proposal must be finalized by SAC and GUASFCU and then approved by the administration. Connolly said that SAC hopes the new system will be in effect by next fall.
