Fiscal Year 2011

Must be registered with and in a good standing with:

Center for Student Organizations and Leadership Development (CSOLD) and Senate Finance Committee (SFC)

Must be recognized for 52 weeks before submitting a budget request

Must be recognized for 15 weeks before requesting funding from the Reserves

On Campus AccountsStudent Activity Account – 334xxxAgency Account – 900xxx

Off Campus Accounts – available only with the permission of Business Office and SFC

Why On Campus Account is better than Off Campus Account

Easy to use and keep track of your moneyIt is easier to withdraw funds even when officers are changed at the end of the year

Used as a checking account

To open one, fill “Request for Agency Account” form (Business Services website or CSOLD), and send to AS 124 for approval

Processing time is usually 5 business days

Deposits usually include:Fundraised MoneyClub membership duesOther funds such as revenue from ticket sales

Payment/Reimbursement Method – 1400 Forms (no Purchase Orders)

Funds come from Student Activity Fees

Funds are allocated through SFC only

Funds do not roll over from year to year New Fiscal Year starts July 1st

So if there are any outstanding payments make sure to take care of them by June 30th

Two ways to get funding in this accountSubmitting budget proposal in the Spring SemesterUsing the four available Request Reserve – one per Fiscal Year

Submit budget proposal before December 17th deadline

Operating BudgetProgramming Budget (a maximum of $10,000/organization)

Come to the appeals process if needed after the budget allocation

Request funds from any of the four available reserves-you can receive one approved request per Fiscal year for each of the following;

Free Balance Reserve Equipment Reserve Speaker Reserve Interpreters Reserve

The programs listed on your budget

The spending should match the line items provided in budget proposal

Exemptions can be made, if SFC is notified in advance

Possible Options

Fund raising, contributions or donations

Request money from any of the four special reserve categories

Any organization may be allocated Up to $750.00 without any fundraised dollarsUp to $1,250.00 Fundraised dollars can be matched dollar for dollarNo more than $2,000.00 will be allocated per request

Free Balance Reserve Request shall be submitted 4 weeks prior to the funds needed

An organization is allowed only one approved Free Balance Reserve request per fiscal year

An organization may be allocated no more than $800.00 for speakers/entertainers per event

Organizations may co-sponsor a speaker, the maximum allocation from this fund will be $1,800.00

Funded organization must enter into a formal university contact with the speaker before Funds are transferred into the 334xxx account

If the speaker is an employed member of SCSU he/she can not be paid from the budget or reserve accounts

A written request should be submitted at least 6 weeks prior to the need for funds and only one request is allowed per Fiscal Year

All equipment, purchased with Student Activity Fee, remains SGA/SFC and university property

No more than $2000 Dollars will be allocated per request

The equipment must be stored on campus in a pre-approved location

Organizations are responsible of replacing or repairing damaged or lost equipment, and no warranties will be funded

One Equipment Reserve Request per Fiscal Year

All advertising for events paid by the Student Activity Fee (334) account must be posted for 7 days prior the event

All printed advertisement material must include the statement

“Funded by your Student Activity Fees”

 

The hosting organization is responsible for setting ticket prices that meet expenses for the event and still encourage attendance

The $2.00 rule is no longer required by SFC Policy

Events are expected to be managed so that revenue exceeds expenses however excess profit (defined as $500 or more) will be considered in future requests for funding.

Funds for these events are not allocated during the regular budget allocation process

Funds must come from one of the Senate Finance Committee reserves – Free Balance Reserve

You can be funded for these events only if they are educational in nature and benefit the whole campus

No more than $2,000 or $50 per person per night (whichever is less) will be allocated for these events

Must show proper documentation

Food that is not a major component of an event, essential to the events purposeAlcohol or any equipment with the explicit purpose of its productionAwards, award ceremonies and/or trophiesBanquetsContributions to charitable organizations or individualsEquipment – not stored on campusFundraisers—includes set up, promotion, and/or costsGasoline purchasesGift offeringsRaffles

Illegal drugs or related paraphernaliaT-Shirts and uniforms that can not be reusedMembership FeesPersonal loans to individualsPersonal ItemsPrizesRecruitment eventsScholarshipsWeapons Etc….

Senate Finance Committee audits each student organization at least one time during the fiscal/academic year

Tips to be prepared if SFC audits your organization

Keep receipts for all purchases for a minimum of 1 yearKeep all financial records for at least 7 yearsKeep the purchased equipment in good conditionMake sure you deposit all revenue from tickets sales in your agency 900 account

Violation of SFC policies might result in freezing of 334 account wholly or partially

Must submit a written request at least 3 weeks prior to the event

Requests should be submitted to the Senate Finance Committee Chair at Atwood Memorial Center Room 138D

Have the signature of the student organization president and the advisor of the group

Purchasing DepartmentLocated in the Administrative Service 122Responsible for approving purchase orders, contracts processing, and issuing reimbursements and payments

Purchase OrdersPreferred payment method for student activity or 334 account

1400 FormPayment method for the agent or 900 account

No sales taxes are reimbursedStudent organizations are a non profit organization. Therefore, any purchase made is subject to sales tax exemption.

Event Date Time Location

Budget Training Clinic 11/1/10 2-2:30pm TBD

Budget Training Clinic 11/1/10 2:30-3pm TBD

Budget Training Clinic 11/1/10 3-3:30pm TBD

Budget Training Clinic 11/1/10 3:30-4pm TBD

Budget Training Clinic 11/2/10 2-2:30pm TBD

Budget Training Clinic 11/2/10 2:30-3pm TBD

Budget Training Clinic 11/2/10 3-3:30pm TBD

Budget Training Clinic 11/2/10 3:30-4pm TBD

Budget Due Date 12/17/10 4:00pm SFC Office