MSU Student Housing Cooperative

The MSU Student Housing Cooperative (MSU SHC) is a non-profit, autonomous organization providing an affordable off-campus housing option to students and the Greater Lansing community. There are more than 240 members in our 17 houses. Houses vary from 5 to 29 members, each with their own character and history. Our name honors our historical affiliation with Michigan State University, where we remain a registered student organization. However, we operate independently from the university with additional requirements and guidelines for membership.

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Filtering by Tag: audits

Why does the audit process take so long?

The house audit starts after the previous year* closes, i.e. the school year 2015/16 will be audited after the 2016/17 school year starts Sept 1, 2016. We have to wait until October 2016 to be sure we have all the receipts and reconciliations in. Then we ask each House Treasurer to approve the deficit or surplus before we can send the checks to members. We also verify each member’s address before we send the checks (so confirm it with us first!)

*The Fiscal Year for the Student Housing Cooperative (Sept 1 - Aug 31) is not the same as the calendar year (Jan 1 - Dec 31). It’s similar to the school year calendar.

I've never been audited before. How does it work?

It’s not a personal audit, but as a member of the house, you have an impact on the future of the house when you:

  • turn in receipts on time to your finance officer (so timely information can be shared to see if you’re on track for a deficit or surplus)

  • sign off on your house budget and any adjustments over the semester

  • as a house, contribute to house savings (part of your budget)

  • conserve resources

  • as a house, pay back a previous house surplus to the SHC (who gave it back to previous house members already)