Business Procedures Manual

Essential business procedural components for University System of Georgia institutions.

14.5 Custodial Fund Groups

14.5.1 Fund 60000 – Funds Held for Individuals, Groups and Organizations

(Last Modified on July 1, 2019)

Student Organizations and Activities

These accounts are established for student clubs, student organizations, or other student group or affiliated group activities that fit criteria listed in Section 14.1. Funds deposited in these accounts should represent funds earned or raised by the student organization or affiliates. Funds allocated to the student organization from institutional funds, such as student activities fees, shall not be placed in a custodial fund account.

Custodial fund accounts of these types should be provided only for bona fide student activities and institution-affiliated organizations, with approval of the appropriate institution administrative office such as the Vice President – Student Affairs Office.


14.5.2 Fund 61000 – Designated Scholarships

(Last Modified on July 1, 2019)

These are funds provided by individuals, companies, civic organizations, church groups, other groups, state government, and the federal government for the purpose of awarding scholarships and loans to students matriculating in established degree programs. The individuals or entities providing the funds have the sole discretion in designating the recipient and the amount of aid to be provided. Pass through grants, for which the institution does not have any direct financial or administrative control, will be reported in this fund.

With the exception of pass through grants, individuals and organizations desiring a custodial account for scholarships should provide an award letter or similar documentation that specifies the following:

  • Recipient(s) ;
  • Purpose of the aid; and,
  • Amounts of aid for each recipient.

Custodial scholarship funds shall not be treated as gifts to the institution.


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