Financial Accounting



Agency accounts are those accounts established by the University for non-University entities, such as fraternities and sororities, other student groups, faculty and staff projects, and outside organizations or activities. The activities of these entities directly or indirectly provide services or benefits to the University community. All budget and financial transactions, including receipts, encumbrances, and expenditures, are reflected in the accounting records for each Agency.

Student Organizations registered with the Student Government Association (SGA), which also receive SGA grant money, are required to have an agency account for tracking purposes.

Although the instructions contained on this site are addressed to organization Treasurers, they should be carefully reviewed by the other Officers and by the Avisors who also have responsibility to ensure accountability through frequent inspection and verification of financial records.



The Office of the Controller will assign each Agency account a unique alphanumeric code, known as an INDEX. An index is between four and six characters long and is usually a part or abbreviation, of the name of the account. This will be the Agency's “account number” and will be needed on all Purchases Orders, Agency Vouchers, Intramural Vouchers, Travel Authorizations, and deposits. Know your INDEX!


The Office of the Controller recommends the use of a Cash Ledger Book for maintaining account records.

All Agency account transactions should be recorded in the Cash Ledger Book.

A ledger other than the Cash Ledger Book may be used, but it is recommneded to use the same accounting format.


The Office of the Controller collects Agency Account financial records at the end of each spring semester for an audit. The Budget Coordinator will perform this audit.

The following items are requested at the time of audit:

All outstanding bills need to be paid before the audit. All petty cash accounts and Agency Purchase Orders must be closed BEFORE the end of each spring semester. Submitting the audit materials is also very convenient for storing an organization's records over the summer break. In the fall, the new treasurer can pick up the records from the Budget Coordinator.


All funds raised and/or received by or for an Agency must be deposited at the Office of the Controller. All funds collected must be submitted as soon as possible. Collecting funds and disbursing straight from those funds is inappropriate and doesn't allow for tracking of expenditures.

The collection of funds using any type of credit card swiping device attached to a tablet or smart phone is prohibited.


Deposits are made at the cashier windows in the Office of the Controller, located on the first floor of Parsons Hall.


All disbursements from an Agency account must be processed through the Office of the Controller.

Disbursement methods:


ISU has agreements with certain vendors to allow an Agency to directly bill merchandise or services to the University. This means that an Agency can make purchases from the vendor, and the vendor will bill the Office of the Controller directly. The Office of the Controller will reference the index provided on the bill to charge an Agency’s account. Some vendors will require an Agency Purchase order to do this. See “Agency Purchase Order” below for more information about this form.

Vendors that currently allow direct billing include:

*Require Agency Purchase Order.


An Agency Voucher is used to remit payment by issuing a check to a vendor or individual for reimbursement. The completed and signed Agency Voucher is presented to the Office of the Controller with the vendor's invoice or original receipts for payment. Processing time to produce a check once an Agency Voucher has been submitted is typically 3-5 days. Incomplete or incorrect vouchers will be returned to the Advisor for correction before payment will be made.

Some vendors will allow the purchase of merchandise or services without payment up front. In those cases, an Agency Purchase order would be submitted to the vendor at the time of purchase. The vendor would then provide an invoice, which would be paid using an Agency Voucher. A copy of the Agency Purchase order should be submitted with the Agency Voucher when paying the invoice. See the Frequently Used Vendors list for information about vendors that will allow purchases with an Agency Purchase Order.

Line-by-line instructions for completing the Agency Voucher can be found by hovering over each field.

Agency vouchers to Pay Individuals for Services Rendered: When an Agency Voucher is used to pay an individual for services rendered a completed W-9 Form must be obtained from the individual to comply with IRS regulations. It should be attached to the Agency Voucher before payment can be issued. Payments to individuals currently employed by Indiana State University should be submitted using a One Time Only Form.


A petty cash fund is a sum of money withdrawn from an Agency account and kept in the Petty Cash Custodian’s possession for minor expenditures. If an organization is required to make a number of small payments, a petty cash fund may be more convenient than individual vouchers. The Petty Cash Custodian should be the Treasurer, President, or the Advisor of the organization.




Date: The actual date the Intramural Voucher is completed.

For Services And Goods Furnished To: Enter “Petty Cash Close Out”

By Supplying Department: Enter the Name of the Petty Cash Custodian

Date And Description Of Items Or Expenses Being Transferred Or Services Provided: Enter “To Close Out Petty Cash” and

Total petty cash = $000.00
- Total receipts = $000.00
= Cash returned $000.00

Total Cost: The total amount of the receipts

INDEX: The Agency account index

Debit Amount: The total amount of the receipts

Head Of Department Being Billed: The Advisor’s signature is required


The purchase of food/drink for an Agency event or meeting requires the submission of a Hospitality Form. If an Agency is using catering services through Sodexo, the Hospitality Approval Process should be followed as well.


The Agency Purchase Order is used for purchases from vendors with direct billing agreements or to purchase merchandise or services from vendors that require a PO if payment is not made up front. This form is completed BEFORE a purchase is made. Detailed directions for processing Agency Purchase Orders are below:

  1. Complete the form by following the instructions found on the form. The instructions are found by hovering over each form field.
  2. Print three copies of the form, and bring or send each signed copy to the Budget Coordinator in the Office of the Controller for numbering and approval. The Office of the Controller retains a copy, the Treasurer retains a copy, and a copy is given to the vendor in lieu of payment.
  3. At the time of purchase, provide the vendor with a copy. If it is a direct billing situation, the vendor will bill the Office of the Controller directly. Otherwise, the vendor will provide an invoice, and an Agency Voucher will need to be processed to pay the vendor.
  4. Keep a record of approved Agency Purchase Orders and numbers.

Vendors will only accept approved Agency Purchase Orders.


If an Agency account will be funding travel, a Travel Authorization will be required prior to making travel arrangements. Agency travel could include traveling for conferences, workshops, etc. Reimbursements for travel expenses will not be made if a Travel Authorization has not been processed. For assistance in completing a Travel Authorization, contact the Travel Department at x3514.

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