A student group has an obligation to responsibly use its resources toward its mission and purpose.
As a best practice, student groups should track all income and expenses on a regular basis using a general ledger (record of all transactions), rather than relying on the group’s bank statements. Officers with financial responsibilities should prepare and analyze financial reports on a monthly basis (at minimum), and share the general ledger with the group’s leadership regularly at least once per semester, minimum. Other options for sharing with the group’s leadership or general membership include sharing weekly, bi-weekly or monthly, depending on the needs of the group.