Columbia Business School MBA Students » Student Life » Student Leader Resources » Club/Cluster Resources » Finance Policies & Procedures

Finance Policies & Procedures

Please refer to the information below regarding club and cluster finance policies.

For full policies, procedures and other information please reference the SLG Finance Guide. 

Due to COVID-19, normal policies and procedures will be impacted. Any changes will be communicated with club leadership. 

COVID-19
  • Club and cluster budgets will only be able to use funds on events or items that fall within health official/CBS guidelines.
  • Fall 2020 club membership dues will be free. We will re-evaluate at the end of the fall semester in order to plan for the spring.
  • OSA supports charging nominal fees for particular events that may need budget offset.
  • Food and drinks are not allowable expenses for on-campus events for the fall 2020 semester.
  • Domestic and international travel are not allowable expenses for student groups, but local travel is approved. Click here for more information.
  • Off-campus events may have food and drinks as per the SLG Finance Guide.
General Cluster Finance
  • Clusters are given $6,000 at the start of their first term by the Office of Student Affairs and must adhere to all finance policies
  • Cluster funds are prohibited from use on alcohol and gift cards
  • Clusters with an overdrawn account at the end of their last term may have graduation tickets held until the account is brought back into good standing
General Club Finance
  • Clubs raise funds primarily through membership dues. ​For the Fall 2020 semester, membership will be free. Clubs are encouraged to charge nominal fees for selected events. Please contact your OSA Advisor for questions. ​
  • Negative balances at the end of the year may cause a restriction of event planning and budget use for the next executive board.
  • Club funds are prohibited from use on gift cards.
Spending Regulations
  • Funds may only be used on university approved vendors
  • Student loan companies are prohibited from sponsoring events
  • University compliance dictates spending limits on all events
  • Hard alcohol is prohibited.
Financial Planning Office (FPO)
  • FPO maintains the university accounts for all clubs and clusters
  • Jamie Bonadonna-Van Beverhoudt is the main contact for clubs and cluster accounts, contracts and payments
  • Payment options include vouchers, contracts and reimbursements
  • All requests are required to be submitted via the FPO Now System online
  • Please refer to the SLG Finance Guide for full policies and procedures
Additional Funding Opportunities