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Fiscal Year 2011. Must be registered with and in a good standing with: Center for Student Organizations and Leadership Development (CSOLD) and Senate.

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Presentation on theme: "Fiscal Year 2011. Must be registered with and in a good standing with: Center for Student Organizations and Leadership Development (CSOLD) and Senate."— Presentation transcript:

1 Fiscal Year 2011

2 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

3 On Campus Accounts Student Activity Account – 334xxx Agency 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 money It is easier to withdraw funds even when officers are changed at the end of the year

4 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 Money Club membership dues Other funds such as revenue from ticket sales Payment/Reimbursement Method – 1400 Forms (no Purchase Orders)

5 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 1 st So if there are any outstanding payments make sure to take care of them by June 30th Two ways to get funding in this account Submitting budget proposal in the Spring Semester Using the four available Request Reserve – one per Fiscal Year

6 Submit budget proposal before December 17 th deadline Operating Budget Programming 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

7 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

8 Possible Options Fund raising, contributions or donations Request money from any of the four special reserve categories

9 Any organization may be allocated Up to $750.00 without any fundraised dollars Up to $1,250.00 Fundraised dollars can be matched dollar for dollar No 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

10 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

11 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

12 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

13 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.

14 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

15 Food that is not a major component of an event, essential to the events purpose Alcohol or any equipment with the explicit purpose of its production Awards, award ceremonies and/or trophies Banquets Contributions to charitable organizations or individuals Equipment – not stored on campus Fundraisersincludes set up, promotion, and/or costs Gasoline purchases Gift offerings Raffles

16 Illegal drugs or related paraphernalia T-Shirts and uniforms that can not be reused Membership Fees Personal loans to individuals Personal Items Prizes Recruitment events Scholarships Weapons Etc….

17 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 year Keep all financial records for at least 7 years Keep the purchased equipment in good condition Make 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

18 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

19 Purchasing Department Located in the Administrative Service 122 Responsible for approving purchase orders, contracts processing, and issuing reimbursements and payments Purchase Orders Preferred payment method for student activity or 334 account 1400 Form Payment method for the agent or 900 account No sales taxes are reimbursed Student organizations are a non profit organization. Therefore, any purchase made is subject to sales tax exemption.

20 EventDateTimeLocation Budget Training Clinic11/1/102-2:30pmTBD Budget Training Clinic11/1/102:30-3pmTBD Budget Training Clinic11/1/103-3:30pmTBD Budget Training Clinic11/1/103:30-4pmTBD Budget Training Clinic11/2/102-2:30pmTBD Budget Training Clinic11/2/102:30-3pmTBD Budget Training Clinic11/2/103-3:30pmTBD Budget Training Clinic11/2/103:30-4pmTBD Budget Due Date12/17/104:00pmSFC Office


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