There are two different financial accounts that the Associated Students of Whitworth University uses. One is what is called a “capital” account and the other is an “unallocated” account. Every year, students pay a fee collected by the University and a portion is given back to the students through ASWU for use through clubs, dorms, and activities directly to benefit the students.
The unallocated account is an account for any expenses incurred throughout the year. Some things that it used for is funding for club activities, planning big events, or dorms-specific special events. Individuals on campus have access to this money through a requisition process. This is monitored by the finance committee which hears out different requests and makes decisions to whether or not approve them. Typically ASWU has on average $6,000 to spend throughout year. Any leftover money at the end of year will be transferred into the capital account.
The capital account is used for any expenses that will benefit students for longer than 5 years i.e. (TV’s for dorms, pool tables, etc). These funds can be requested by students through the same process. The capital account must maintain a balance of at least $5,000 and no more than $20,000.
For more information, read the ASWU FSOPs here (http://www.whitworth.edu/Students/ASWU/GeneralInformation/PDF/FinancialInformation/FSOPS.pdf)
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