Depositing Club Funds

Depositing Club Funds

All money received by your club must be deposited into its LUSU-managed account.

This includes money collected through:

  • Fundraising.
  • Sponsorships.
  • Ticket or merchandise sales.
  • Donations.
  • Membership fees.
  • Event revenue.
  • Cheques or electronic payments received by the club.

Do not deposit club money into a personal or external bank account.

In-Person Deposits

Cash and cheques can be deposited at the LUSU office.

  1. Bring the cash or cheque to the LUSU office front desk.
  2. Complete a club deposit slip.
  3. Include the club’s full name, the source of the money, the deposit date, and a breakdown of the cash or cheques.
  4. A LUSU staff member will complete a second count and initial the deposit slip.
  5. The deposit will be recorded in the club’s account.
  6. Keep your copy of the deposit slip with the club’s financial records.

Thunder Bay

Lakehead University Student Union
SC0001, 955 Oliver Road
Thunder Bay, ON P7B 5E1

Orillia and Barrie

Lakehead University Student Union
OA1027, 500 University Avenue
Orillia, ON L3V 0B9

Depositing a Cheque by Mail

Cheques must be payable to the Lakehead University Student Union.

Do not make the cheque payable only to the club. Include the club’s full name in the memo line so LUSU can credit it to the correct account.

Mail the cheque to the applicable LUSU office address listed above.

LUSU will notify the club after the cheque has been received and credited to its account.

Depositing an E-Transfer

Include the following information in the e-transfer message:

  • The club’s full name.
  • The source of the money.

Send the e-transfer to the address for your campus:

Thunder Bay

services@lusu.ca

Orillia and Barrie

opayment@lusu.ca

The deposit will be added to the club’s account, and a notification will appear in the club’s officer account.

Sales, Tickets and Other Payment Methods

Before collecting money through ticket sales, merchandise, an online payment platform, or another sales method, follow LUSU’s event and sales requirements.

Tickets, Sales & Attendance

Do not create a separate payment or banking account for the club.

Keep a Deposit Record

Keep copies of:

  • Deposit slips.
  • Cheques.
  • E-transfer confirmations.
  • Sales summaries.
  • Sponsorship or donation information.
  • Any related event or finance approvals.

These records should be retained for at least one year and stored somewhere accessible to future club officers.

For deposit assistance, contact the applicable campus email above or email clubs@lusu.ca.