The purpose of this petition is to rally support for the creation of individual financial accounts for each Club Sports team. Under the current system, all Club Sports teams income and expenses are lumped together in one complicated and disorganized account. Expenses can easily be charged to the wrong team - it happened to Men\'s Lacrosse! For teams to be able to make decisions based on accurate and current financial information, each team needs a unique account. Although your team may not have run into problems due to these low accounting standards, I encourage you to address the problem prior to any issues. Individual accounts would have the following three benefits: 1) Creation of general ledger reports. As accounts that generate a fair amount of income and expense activity, Club Sports teams need the ability to reconcile their financial activity against the official record keeper. It is important to note that the accounting done at the department level (Rec Sports) is NOT the official record keeper of the University, but acts as a shadow system to the general ledger produced by the Accounting office. A shadow accounting system does not determine the actual balance of an account, it merely attempts to mimic it for audit purposes. Club Sports teams should be able to review the income and expenses posted on the department shadow system, incorporating their own anticipated expenses, and reconcile that against the official record keeper. It would be financially irresponsible if those most familiar with the activity were not able to review the official record. 2) Fund accounting best practices recommends that funds with restricted purpose are assigned individual accounts. When Club Sports teams receive income from their donors, the money is expressly allocated for expenses related only to that team. However, these funds are currently being co-mingled with all other club sports teams. If Men

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