Financials

This section outlines the policies and procedures for student group and individual student funding requests, spending, and financial processing. All students are responsible for understanding and adhering to these policies.

All student group purchase requests need to be approved internally (through student group budget officers). After receiving approval, the appropriate financial processing forms can be submitted by any student with the required documentation.

All student funding requests need to be approved through OSA with support from funding committees. After receiving approval, the appropriate financial processing forms can be submitted by the student awarded funding with the required documentation.

Review the terms, policies, and procedures for financial processing below. Reach out to OSA (osa@yale.edu) with any questions.

Terms

General Allocation
Recognized student groups receive budget allocations from the Student Representatives (for student organizations) or OSA (for projects and competition groups) in the summer for the following academic year. This YLS general allocation funding is to support student group activities for the July 1 - June 30 fiscal year and does not roll over from year to year. Please note: All financial forms close by June 1 to allow time for processing. Any outstanding expenses are billed to the following year's budget, and all errors in billing or accounting are irrevocable once the fiscal year has closed. Student groups that overspend beyond their available funds will have the difference deducted from their General Allocation budget in the following fiscal year and this infraction may affect the organization's status and future funding eligibility. Yale student group allocations should support registered student groups and enrolled Yale Law School students. General allocation spending has some additional restrictions, which can be reviewed on the "Policies" section of this page.

Discretionary Funds
Recognized student groups may also choose to fundraise from firms, and funds raised independently by student groups are routed to the group's discretionary fund. These discretionary funds roll over from year to year. Recognized student groups are an entity of Yale University. Therefore all gifts made to a student group are actually made to the University and they are subject to a 12% assessment fee. This is imposed by the University to cover accounting, tax reporting, and other stewardship costs. This is not a YLS charge.

PCards (Purchasing Cards)
OSA encourages students to plan spending in advance of making a purchase. Please allow enough time to secure spending approval through the Student Group Purchase Request form or the Student Funding Request form before scheduling an appointment to use an OSA PCard. Use of Yale's departmental credit card alleviates the financial burden on students who would otherwise make purchases from personal funds and seek reimbursement. When using an OSA PCard, students must submit itemized receipts and related documentation promptly after the purchase so OSA can clear the charges through the YLS Business Office.

Student Group Purchase Request form
This is a fillable pdf that each student group member must submit to their designated Budget Officer(s) for approval when requesting to make a purchase using student group funds. This form includes purpose/memo, amounts, and appropriate documentation. If a student group would like to split a payment with another student group, both budget officers for the student groups need to sign the Student Group Purchase Request form. If there are 3 or more student groups contributing, use the COA Transfer form.

Student Funding Request form
This form covers the full scope of OSA-connected funding sources (OMR, ZOR/DP, Student Competitions, etc) so OSA can explore many possible funding sources to best support students. The Student Funding Request form is reviewed on a monthly basis by the appropriate committee connected to the most relevant funding source(s) for each request.

COA Transfers vs Split Charges
If a student group is planning a larger event with multiple groups, one student group should act as the primary funding source and the other student groups transfer funds to the primary funding account to help cover costs. Examples of this include student groups contributing towards Law Revue, Grad Week celebrations, or a large community gathering or meal. To complete a COA Transfer, budget officers must complete the COA Transfer form to shift money from one account or COA (Chart of Accounts) to another. All budget officers from the groups contributing funds need to sign the form, share approval codes, and note contribution amount. Once complete, please email the form and event poster to osa@yale.edu.

If a student group is planning a smaller event with one other student groups, the student groups can split the expense. An example of this includes student groups paying for a meal for a cosponsored lunchtime event. To split charges, each budget officer must sign the Student Group Purchase Request form, share approval codes, and note amount or percentage split.

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Policies

Alcohol
Yale funds cannot cover hard liquor. There is a two-drink maximum per student. Details and full policy listed under Alcohol Policy in Event Planning section of the YLS Student Handbook.

Banquets, Galas, and Retreats
Banquets and galas are larger, more formal meals and celebrations that fall outside of the more modest framework that the YLS general allocation supports each year. Retreats include student group travel, lodging, and community-building activities away from campus. YLS is unable to apply general allocations towards banquets, galas, or retreats. These events must be paid for by discretionary funds.

Cash or Prepaid Cards
YLS is unable to provide cash or prepaid cards to students. Please plan ahead to use the OSA PCard for any advance purchases and keep itemized receipts to submit documentation for reimbursement for out-of-pocket expenses after traveling.

Contracts
If a venue or service provider requires a contract—or any document that requires a signature—to confirm a booking, students must submit a Contract Review form so OSA can route it to the YLS Business Office and Yale Procurement for review. Additionally, all purchases over $10k require a contract. Students may not sign any contracts or other documents on behalf of Yale. Please submit the Contract Review form as early as possible. The review process can take up to three weeks since the review is outside of OSA, and particularly if edits are needed. If the supplier would like to use Yale’s standard contract, students can share Yale's Standard Services Agreement. The appropriate contract documents are linked in the form, including the Standard Services Agreement, Standard Performance Agreement, and Services Agreement for Freelance Photographers.

Meals during Travel
Students can be reimbursed up to $50/day for actual meal expenses when traveling, depending on funding availability and funding source restrictions.

Gift Cards
Yale University funds cannot be used to purchase gift cards. This is a University policy and there are no exceptions.

Gifts
Per Yale University policy, gifts (including student-to-student gifts) must be under $100/person in total per fiscal year. Gifts can only be paid for out of discretionary funds; YLS general allocations cannot be used for this purpose. Non-cash gifts of $100 or greater and cash gifts at any dollar amount must be reported to the IRS for tax purposes since this is reported as taxable income for the gift recipient.

Federal and state laws severely restrict the nature and value of gifts that may be made to public officials, and those restrictions may vary depending on the type of gift as well as the office held by the official. Gifts to municipal officials may also be restricted. In general, University policy prohibits all gifts to public officials, with the exception of token gifts valued at less than $10.

Honoraria
YLS is unable to provide honoraria to speakers for student events. Reasonable travel expenses as outlined in Yale’s travel policies may be covered after taking into account student group budgets.

Merchandise/Swag
Merchandise or swag purchases can only be paid for out of discretionary funds; YLS general allocations cannot be used for this purpose. Merchandise or swag spending is limited to a maximum of $100/person per fiscal year. Students must submit proposed merchandise or swag designs through the Merchandise Request form for review of mock-ups and only licensed vendors may be used. If creating a new logo, students must submit the Logo Design Review form. Both forms will be reviewed by OSA, Yale Licensing, and the Office of Public Affairs (OPA). Please allow 2-3 weeks for merchandise design and logo review, and reference Yale Licensing guidelines under Merchandise / Swag in the Communications & Licensing section.

Non-Profits
Student groups are required to operate as non-profit organizations that do not generate income for individuals and/or the organization itself. Student groups cannot donate funds to non-profit organizations. If a student group is interested in making a purchase in order to donate to a non-profit or other entity, the student group must share details with OSA for review by the YLS Business Office and the University prior to making the purchase. Details should include how the mission of the outside entity and the purpose of the purchase are directly aligned with the mission of the student group. If it is allowable, the purchase can only be made using discretionary funds. Please allow 2-3 weeks for review.

PCards
OSA requires the use of OSA-held accounts with certain third-party vendors. When making purchases for car rentals (Hertz & Enterprise), Amazon, Uber Eats, DoorDash, Grub Hub, Insta Cart, EZ Cater, and Koffee Katering, students must schedule an in-person PCard appointment to use OSA accounts for streamlined payment and documentation.

Reimbursements
Please note that reimbursements may take up to six weeks to process since multiple offices at YLS and the University are involved. Out-of-pocket expenses submitted 120 days or more after purchase date are processed through Accounts Payable, and there may be additional delays. Amazon purchases must be made through the Yale Amazon Business Prime account. Set up a PCard appointment with OSA to make purchases through the approved Yale Amazon Business Prime account. Use of personal Amazon accounts is out of policy and will not be reimbursed.

Sales Tax
Certain expenses are exempt from Connecticut sales tax because Yale is a 501(c)(3) nonprofit organization. The University maintains Connecticut sales tax exemption certificates (Connecticut Form CERT-123) on file with many local hotels and restaurants. You can view the current list of participating vendors on Yale’s Sales and Use Tax page. When the exemption requirements are met, the University should not pay Connecticut sales tax to vendors on Yale’s list. If you plan to use a Connecticut hotel or restaurant that does not appear on the current list, please email OSA with the subject line “Tax-Exemption Documentation” and attach the vendor’s W-9 (must be Form W-9 (Rev. March 2024)). OSA will submit the paperwork to the YLS Business Office, and the Tax Department will issue vendor-specific tax-exemption documentation.

Student Speakers, Photographers, Performers, Musicians, DJs, Bartenders
YLS cannot pay students to serve as speakers, photographers, performers, musicians, DJs, or bartenders at student group meetings or events.

Subscriptions
While subscriptions for the entire student body are handled by the Library, student groups may not purchase subscriptions for the benefit of their members without prior review and approval by OSA. For issues with library-managed subscriptions, contact the E-Resources troubleshooting team at e-resprob@mailman.yale.edu.

Suppliers
To receive payment from Yale, a supplier must be set up in Yale’s Supplier Gateway. If a payment request is submitted for a supplier who is not yet registered, Yale will initiate the supplier setup process. The first step is for the supplier (or individual) to complete the Supplier Gateway - Contact form.

Students may share the following resources with suppliers:
Reference Guide for Suppliers (overview of registration process and key requirements)
For specific questions, suppliers should contact Ask Finance directly at askfinance@yale.edu or 203-432-5394.

Tipping Guidance
Table Service: up to 15% (up to 20% for exceptional service). Review receipts carefully before tipping to check if there is automatic gratuity already included.
Delivery: up to 10%
Pick-Up: up to 5% (only appropriate for large orders)

Yale Funding
All expenditures incurred by student groups with Yale funds must advance the core mission of the group. Funding should be used to support many members, instead of only a few students, and should focus on group experiences and outreach. When purchasing food and drinks (no hard liquor), amounts should be appropriate for the size and nature of the event. Additionally, Yale funds cannot cover spa services or personal grooming/hygiene as outlined by Yale polices.

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Student Group Finances

Budget Officer(s)
Each Student Group Board will need to identify Board member(s) (1-3 individuals) who will serve as the Budget Officer(s) to review Student Group Purchase Request forms and track student group budgets. As the Student Group Purchase Request forms are received and approved, the Budget Officer(s) will need to sign the form, assign a code (Student Group Abbreviated Name followed by number – 01, 02, 03, etc to support tracking), and send back to the student to move forward with the purchase. The approved Student Group Purchase Request forms with assigned codes should be saved in a folder to support documentation of student group spending. Budget Officers are the only Student Group members who can provide spending approvals on behalf of each student group. Each student group must submit Budget Officer and financial tracking information to OSA in August to support financial processing for the upcoming academic year.

Follow the steps below for all registered student organizations and journals as well as all approved student-led conference groups making purchases with YLS funds.

  1. 1

    Student Group Purchase Request

    Student group members submit the Student Group Purchase Request form to their Budget Officer(s) by email. This fillable pdf includes purpose/memo, amounts, and related documentation.

  2. 2

    Student Group Approval

    The Budget Officer(s) review the Student Group Purchase Request form. If approved, they sign the form and assign a code (Student Group Abbreviated Name followed by number – 01, 02, 03, etc to support tracking).

  3. 3

    Student Group Purchase

    Once approved, the student group can move forward with the requested purchase through one of the payment options outlined below. Students will need to attach the signed and coded Student Group Purchase Request form to complete purchases.

Payment Options

OSA PCard Purchase

Schedule a time through the PCard Appointment form to coordinate making a purchase using an OSA departmental credit card. Students can select an appointment by Zoom or in-person to complete the purchase. The approved Student Group Purchase Request form must be attached when scheduling. The proof of purchase receipt and itemized receipt from the purchase must be shared back with OSA during the PCard appointment for documentation.

Reimbursement

If using a personal credit card or cash, save the appropriate information and documentation - including proof of purchase and itemized receipt (for all purchases) - to upload into the Reimbursement Request form for financial processing. Purchases that violate university spending policies will not be reimbursed. Review the "Policies" section of this page and, when in doubt, contact OSA for clarification before making a purchase.

Invoice Payment Request

If a vendor provides an invoice for payment, complete the Invoice Payment Request form. The approved Student Group Purchase Request form must be attached when submitting this form for payment. Standard Payment Terms are Net 45 (approved transactions disbursed within 45 days of invoice date). Net 45 is the default, unless otherwise negotiated and agreed to by the Procurement Department.

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Student Funding Requests, Spending & Financial Processing

Students may seek funding outside of student group activities for student competitions, academic research related to YLS papers, conference presentations, and community building activities by following the steps below. All students who are awarded funding are responsible for adhering to the policies and procedures outlined by Yale Law School's Student Handbook, Yale Law School, and Yale University.

  1. 1

    Student Funding Request

    Individuals seeking funding need to submit the Student Funding Request form. This form covers the full scope of OSA-connected funding sources (OMR, ZOR/DP, Student Competitions, etc) so OSA can explore many possible funding sources to best support students. Please note: All applications must be submitted by the 1st of each month to be included in that month's review process. Applications will be reviewed by the appropriate committee connected to the most relevant funding source(s) for each request. Committee decisions will be emailed by the 15th of each month. Applications are not guaranteed approval or funding.

  2. 2

    Student Funding Approval

    If approved, OSA emails an award letter and assigns a code to support tracking.

  3. 3

    Making Purchases

    Once approved, the student(s) can move forward with the requested purchase(s) through one of the payment options outlined below.

  4. 4

    Donor Report
    (for specific funding sources)

    All OMR and ZOR/DP funding recipients need to complete the Yale Connect Donor Report form before the next academic year. Those funding recipients will be notified of this requirement when funding is approved through these sources.

Payment Options

OSA PCard Purchase

Schedule a time through the PCard Appointment form to coordinate making a purchase using an OSA departmental credit card. Students can select an appointment by Zoom or in-person to complete the purchase. The approved Student Funding Request form must be attached when scheduling. The proof of purchase receipt and itemized receipt from the purchase must be shared back with OSA during the PCard appointment for documentation.

Reimbursement

If using a personal credit card or cash, save the appropriate information and documentation - including proof of purchase and itemized receipt (for all purchases) - to upload into the Reimbursement Request form for financial processing. Purchases that violate university spending policies will not be reimbursed. Review the "Policies" section of this page and, when in doubt, contact OSA for clarification before making a purchase.

Invoice Payment Request

If a vendor provides an invoice for payment, complete the Invoice Payment Request form. The approved Student Funding Request form must be attached when submitting this form for payment. Standard Payment Terms are Net 45 (approved transactions disbursed within 45 days of invoice date). Net 45 is the default, unless otherwise negotiated and agreed to by the Procurement Department.