Accounts Overview
Each club sports team has 3 financial accounts to operate from: USC Credit Union Account, RCC Account and Gift Account.
Credit Union Account
- Managed by club, but supervised by RCC
- Can check account balance via USCCU online login
- Each club has their own account name, online login, and account number
- Where dues and fundraising moneys are deposited
- Quickest account to process purchases or reimbursements
RCC Account
- Managed by the university
- Only income is RCC allocation and possible contingency funding
- Generally more restrictive than credit union
Gift Account
- Managed by the university
- Income is from donations (check or online)
- Generally more restrictive than credit union
Click here for full overview of accounts
Depositing Money
Credit Union
Money that goes into your credit union will be from checks or cash from member dues or any other non-donation income. You can only receive money electronically if you have set up electronic dues collection with the Rec Sports administrator.
RCC Account
The income to your RCC account is primarily from your yearly allocation and any approved contingency funding requests. This is also the place that any university fundraisers you participated in (football wristbanding, Festival of Books, etc.) will be distributed.
Gift Account
All income to your gift account is from donations. There are two ways donations can come into your account: online donations and mailed-in checks.
Click here for full information regarding depositing your money
Spending Your Money
Step 1: Expense Request Form
Any time you are trying to spend money, the first page of your paperwork must always be the Expense Request Form.
Step 2: Determine the account you would like to use
Credit Union and RCC/Gift Account transactions differ in the type of allowable transactions and the process for using that money. RCC and Gift Account Expenses are processed the same way with the only difference being where the money is coming from.
Allowable Expenses for Credit Union Account:
- Coaching Payments
- League Dues
- Tournament Fees
- Hotel & Travel Reimbursements
- Officiating Fees
- Paying ahead of time to a vendor
- Other club related expenses
Allowable Expenses for RCC/Gift Account:
- RCC Credit Card Expenses
- Internal Requisitions (payments to other USC departments)
- Purchase Orders (must be to approved USC vendors)
- Hotel & Travel Expenses (paid through a purchase order through Crown Travel)
- Hotel & Travel Reimbursements
- Other club related expenses to be reimbursed
Step 3: Gather Supporting Documents
Credit Union Reimbursements
All credit union reimbursements must include the following supporting documents:
- Receipt of purchase or invoice of each purchase
- Bank or credit card statement showing each purchase
- Purchases must not be pending according to statement
Additional Supporting Documentation needed depends upon the expense type.
RCC/Gift Account Reimbursements
Supporting documents are the same as a credit union reimbursement
Paying Ahead
If possible, the RCC recommends clubs purchase goods and services ahead of time to avoid waiting for reimbursements to process. There are 4 ways to do this:
RCC Credit Card/Amazon Purchases
If your club is purchasing items online through Amazon or any other reputable website, you may request to use the RCC Credit Card. Once the requests have been reviewed, you will schedule a time to meet with a Rec Sports administrator to purchase your necessary items. This type of transaction will come out of either your RCC or gift account.
Credit Union
A "Pay Ahead" check may be written to vendors that accept checks. An invoice for any good or service must be submitted for approval. Officials fees for competitions can also be considered as a "pay ahead" check.
Purchase Orders (PO)
Purchase orders are agreements to purchase goods or services at a specific price from external suppliers through your RCC or Gift account. Purchase orders can only be made to approved USC vendors. You must provide a quote (not invoice) from an approved vendor and attach it to the Expense Request Form.
Hotel & Travel Expenses, including flights, hotel & car rentals, can only be paid ahead of time through a purchase order to Crown International Travel, Inc. To schedule and pay for travel ahead of your trip, please contact Ginny Boyce at ginny.boyce@altour.com or 310-475-5661.
Note: If you are unsure if a vendor is approved, please reach out to the RCC at rccexec@usc.edu prior to submitting a purchase order request.
Internal Requisition (IR)
Internal Requisitions are used to pay for goods and services for USC auxiliaries through your RCC or Gift account. You must provide an invoice from the USC auxiliary for any goods or services and attach it to the Expense Request Form
Step 4: Submit Request
Submit expense request form and all supporting documentation via online form (Found in Forms and Links Tab).
Anticipated timeline and flow of processing
Click here for full information regarding spending your money
Trademarks and Licensing
Any apparel or equipment with USC logos or trademarks must be approved by USC Trademarks and Licensing Services.
Click here for full information regarding Trademarks and Licensing
Finance Recommendations
- If possible, always use your RCC allocation first. This must be spent by the end of the academic year. Failure to spend all of your RCC allocation will result in a decrease in allocation for the following year. Credit Union and Gift account money will always roll over to the next year, but your RCC money does not. In other words: use it or lose it!
- If you want to use your RCC or gift money, but don't have enough to cover the balance, you can supplement it with a check from your credit union account.
- If possible, always try to pay ahead with either the RCC credit card,a credit union check, purchase order, or internal requisition. Reimbursements should be viewed as a last resort.
- If you do have to reimburse an individual, credit union reimbursements are much quicker. RCC and Gift account reimbursements are done through the university and require very thorough and clean documentation.
- Fundraising is highly encouraged and is a major factor in determining your RCC Allocation every academic year as well as any contingency funding requests. Reach out to the RCC Fundraising chair for tips and ideas on how to help your club financially.
- Contingency funding is available for unexpected and unbudgeted occurrences (e.g., club equipment is damaged or stolen or you are unexpectedly invited to a national competition). The RCC Executive Board and Club Sports Coordinator will review all contingency requests.
For more help, please reach out to the RCC Treasurer at rccexec@usc.edu.
Click here for full Finance 101 Document
