(a) All funds and money collected by or on behalf of a student body organization except funds and money collected from commercial services as provided in Education Code Section 89905, shall be deposited in trust by the chief fiscal officer of the campus in accordance with procedures approved by an appropriate officer of the student body organization. Such funds and money shall, subject to the approval of the campus president or designee, be deposited or invested in any one or more of the ways specified in Section 89301 of the Education Code. The chief fiscal officer of the campus shall be custodian of all funds and money collected by or on behalf of a student body organization and shall provide the necessary accounting records and controls for such funds. These funds may be expended by the custodian only upon the submission of an appropriate claim schedule by officers of the student body organization.
The student body organization shall reimburse the campus an amount to cover the cost of custodial and accounting services provided by the campus in connection with these funds.
(b) Trust funds shall be used specifically for the purpose designated in the instrument creating the trust.(c) Funds of an auxiliary organization shall be used for purposes consistent with Board of Trustees and campus policy, and shall not be used:(1) To support or oppose any candidate for public office, whether partisan or not, or to support or oppose any issue before the voters of this state or any subdivision thereof or any city, municipality, or local governmental entity of any kind except as may be permitted by Section 89300 of the Education Code. The prohibition of this subdivision shall not apply to: (A) expressions published in the student press;(B) support of a position taken by the Board of Trustees on an issue which the Board determines will significantly affect the California State University or any campus thereof.(C) Paragraphs (A) and (B) of subdivision (c)(1) are exceptions to the prohibition of (c)(1) and shall not be construed as authorizing an expenditure of student body organization funds collected through mandatory fees not authorized by Section 42659.(2) To make personal loans for non-educationally related purposes, except that such loans may be made when specifically authorized by a trust instrument under which the funds were received.(d) Indemnity bonds shall be obtained by an auxiliary organization for officers and employees handling funds of the auxiliary organization.(e) Donations and gifts to an auxiliary organization for research and other projects which are accepted, shall be accepted and maintained in accordance with policies and regulations established by the Board of Trustees.Cal. Code Regs. Tit. 5, § 42403
1. Amendment of subsections (a) and (c)(1) filed 4-29-77; effective thirtieth day thereafter (Register 77, No. 18). For prior history, see Register 74, No. 16.
2. Amendment of subsection (a) filed 1-30-79, effective thirtieth day thereafter (Register 79, No. 5).
3. Amendment filed 9-15-81; effective thirtieth day thereafter (Register 81, No. 38).
4. Amendment of subsection (c)(1) filed 6-1-88; operative 7-1-88 (Register 88, No. 23). Note: Authority cited: Sections 89030 and 89900, Education Code. Reference: Sections 89302 and 89900, Education Code.
1. Amendment of subsections (a) and (c)(1) filed 4-29-77; effective thirtieth day thereafter (Register 77, No. 18). For prior history, see Register 74, No. 16.
2. Amendment of subsection (a) filed 1-30-79, effective thirtieth day thereafter (Register 79, No. 5).
3. Amendment filed 9-15-81; effective thirtieth day thereafter (Register 81, No. 38).
4. Amendment of subsection (c)(1) filed 6-1-88; operative 7-1-88 (Register 88, No. 23).