Fillable FS 007ASISU Exemption Form AS 007 (Idaho State University)

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FS 007ASISU Exemption Form AS 007 (Idaho State University)

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The FS 007ASISU Exemption Form AS 007 (Idaho State University) form is 1 page long and contains:

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Idaho State University Student Organization Account Exempt Form
Student Organization
New Exemption Renewal
Describe the Institution to whom the Student Organization demonstrates a financial
reporting system and the nature of the system.
Federal Tax Identification Number
Describe the internal controls in place to ensure proper use of funds, i.e. how many
signatures are required when issuing a check? Is there an adequate separation of
duties among those responsible for maintaining the funds?
Where will the funds be physically kept?
List all institutions for which the Student Organization has established accounts.
Will the Student Organization be generating any revenues from sales?
If yes, are applicable sales taxes paid?
Does the Student Organization have paid personnel?
If yes, are appropriate payroll taxes accounted for?
Describe the procedures under which the Student Organization distributes scholarship
funds?
How are donations to off campus accounts handled?
FS-007
Rev Oct 2007
Upon receiving exempt status from Idaho State University, it is understood that the
Student Organization is responsible for maintaining its funds and establishing proper
controls. ISU is to remain a separate entity with regard to any issues concerning the
funds. We also understand that in order to maintain our exempt status, we must submit
a request to ISU Finance and Administration on ISU Student Organization Exemption
Form (#FS-007) every three years. If exempt status is revoked, the organization will
have 15 days to transfer all money to the appropriate University accounts. By signing
this form, the organization warranties that they are not aware of any undisclosed,
substantial risk to Idaho State University should exempt status be granted or extended.
Authorized Student Leader Title
Signature Date
Faculty Student Advisor Title
Signature Date
****************************************************************************************************
FOR ACCOUNTING SERVICES USE ONLY:
University Approval Title Date
FS-007
Rev Oct 2007
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FS 007ASISU Exemption Form AS 007 (Idaho State University)

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Completed 24 July 2020

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