Transcript Student Association Finance Committee Presentation

2014 Student Organization
Leadership Training
Presentation
Ben Pryde, Finance Chair &
Caroline Bourque, Finance Vice-Chair
August 24, 2014
Who is involved in finances?
•
SA Finance Committee: Allocates the money to the
student organizations on campus based on the budgets in
submitted.
•
SA VP of Financial Affairs: Authorizes reimbursements
for student organizations after money is spent.
•
President: Signs or Vetoes the Allocations Bill.
•
GWU Center for Student Engagement: Reviews
allocations, reimbursement requests, approve requests for
revenue account dollars, and work with student orgs on
contractual matters.
How the SA Budget Works
Rollover
GW Students:
$1.50-$2.00/credit
hour dependent
on date of
matriculation
University:
$.50/credit hour
Reclamations
Student Association Fee Pool (~$1.1
million)
Initial Allocations(85%)
Co-Sponsorship
Fund(15%)
SA FY15 Budget Breakdown
Total Budget FY15: $1,103,371(+12% from FY14)
Spring Allocation Budget: 1,103,371*0.82 = $904,764
Spring Allocation Appeal Budget: 1,103,371*0.03=
$33,101
Co-Sponsorship Fund: 1,103,371*0.15 +FY14
rollover= $225,761
Comparison to Previous Years
1200000
Budget
Initial Allocation
1000000
800000
600000
400000
200000
0
FY 09-10 FY 10-11 FY 11-12 FY 12-13 FY 13-14 FY 14-15
Fee Increase
•
Affects current freshman and sophomores
•
Takes 9 years to go into full effect and will increase
revenue over 12 years
•
Would still make our fee lowest in the District
•
Fee Increase Referendum passed with 66.6% voting
in favor during 2012-2013 Academic year.
Fee Increase Schedule
FY 2014
FY 2015
FY 2016
FY 2017
FY 2018
FY 2019
$1.50/credit hour to $1.75 credit
hour
$1.75/credit hour to $2.00/credit
hour
$2.00/credit hour to $2.25/credit
hour
$2.25/credit hour to $2.50/credit
hour
$2.50/credit hour to $2.75/credit
hour
$2.75/credit hour to $3.00/credit
hour
Graph of Fee Increase
Largest Allocations
FY 12-13
Student Bar
Association
FY 13-14
Student Bar
Association
FY14-15
Student Bar
Association
Program Board
Program Board
Program Board
Med Center Student Med Center Student
Club Sports Council
Council
Council
MBA Association
MBA Association
Club Sports Council Club Sports Council
College
Dems/Republicans
College Democrats
Med Center Student
Council
MBA Association
Alternative Breaks
Top 15 Organizations
Top 15
Rest
Top 15
32%
Top 15
Rest
37%
40%
60%
63%
68%
FY13
Rest
FY14
FY15
Key Statistics
Average Allocation in FY15: $3,809
Average Allocation in FY14: $3,173
Average Allocation in FY13: $2,979
83 Orgs at $1000+ in FY14, remained at 83 in FY15
93 Orgs at $750+ in FY14, up to 108 in FY15
12 Orgs at $1-$100 in FY14, down to 3 in FY15
Budget Breakdown
Administrative: Office supplies, memberships, athletic
officials, non-GW printing, graphics, uniforms. (8% of
total budget)
Programming: Any spending that advances execution
of an individual program. (72% of budget)
Sub-organization: Money that must be allocated by
an umbrella group to their sub-organizations. (20% of
budget)
Umbrella Organizations
The following organizations have been designated as umbrella organizations:
Student Bar Association (G)*
Medical Center Student Council (G)*
GSHED Student Association (G)
MBAA (G)
Club Sports Council (U)
Inter-Fraternity Council/ / The Panhellenic Organization (U)
Multicultural Greek Council (U)
The Engineer’s Council (U)
Jewish Student Association (U)
* Bold denotes the umbrella “opted-in” under Bylaw 303, Section 3 (D)
Internal FY15 SA Budget
Total Internal SA Budget ~2.5% of Overall SA Budget
SA Executive Budget: $27,882
Executive budget mainly covers: Office Assistants,
Xerox contract, VPFA and Assistants
SA Legislative Budget: $0
SA Judicial Branch: $0
Criteria
The finance committee
shall not consider:
Parity between similar
organizations
Tier 1
• (A) The number of individuals expected to benefit from the
experience.
• (B) The prestige brought to the University by the student
organization or event.
• (C) The location of the event, with a preference given to events
held on campus.
•
Tier 2
Student body funds that
were unspent by the
organization in previous
years
•
Other factors:
The Student Association
has a non-discrimination
clause in its bylaws. As
such the Finance
Committee can and will
penalize an organization
found to be discriminating
against members by the
University run “Student
Grievances Panel.”
• (A) The revenue the student organization generates or
fundraises for itself, with preference given to organizations that
generate revenue.
• (B) Whether item to be purchased is a durable good or one-time
use, with preference given to durable goods.
• (C) How efficiently the student organization has spent student
body funds allocated to it in accordance with its budget
•
Tier 3
• (A) Whether the event has been put on previously and to what
success.
• (B) The student organization’s compliance with these Bylaws.
• (C) The history of the student organization, including its prior
general allocations.
Line-Item Budgeting
•
First year of true Line-Item budgeting
•
Brings Student Association into line with
University Standards and Student
Governments at other Universities
•
Necessary as SA budget increases over next
decade from $1 million to approximately $2
million
Line-Item Transfer Requests
Line-Item Transfer Requests
Fall and Spring Audits
•
The Finance Committee is obligated to perform two yearly audits in the months
of October and February per Section 6(a) of Student Association Bylaws.
•
The objective of both audits is to ensure Student Organizations are spending
their SA funds.
•
All Student Organizations that have not spent any of their SA funds will have
the opportunity to give an explanation.
•
If an explanation is found unsatisfactory as to why a Student Organization has
not been spending their funds, the Finance Committee may, by a simple
majority of those present and voting, reclaim up to 50% of the funds from the
Student Organization’s Student Association Account.
Fall and Spring Audits
(Continued)
•
If a Student Organization fails to respond to either audit in the
specified time period, the Student Organization will be penalized
50% of their Student Association account balance.
•
If a Student Organization fails to respond to the February Audit, and
have not spent any student body funds, all student body funds in
the student organization’s Student Association account will be
reclaimed automatically.
•
All remaining funds from Line-Items that indicate the event was
intended to occur during the Fall Semester will be reclaimed
automatically by March 6th. Notifications of these reclamations will
be sent out to the affected Student Organizations.
Fall Audit Schedule
•
Monday, October 13th: Announcement email with Google
Form Link
•
Monday, October 20th: First reminder email with Google
Form Link
•
Wednesday, October 22nd: Final reminder email with
Google Form Link
•
•
Friday, October 24th by 5:00pm: Fall Audit responses due
from Student Organizations via Google Form
Wednesday, October 29st 5:00pm: Notifications of
Allocation Reclamations sent to Student Organizations who
fail to respond to Audit or fail to give satisfactory
explanations
Spring Allocations Schedule
•
•
•
•
•
Monday, March 9th: First 2016 Fiscal Year Fall Allocations
reminder email sent to Student Organizations
Monday, March 16th: Second 2016 Fiscal Year Fall Allocations
reminder email sent to Student Organizations
Friday, March 20th: Final 2016 Fiscal Year Fall Allocations
reminder email sent to Student Organizations
Monday, March 23rd by 5:00pm: Budgets Due for 2016
Fiscal Year via Student Organizations’ SOMA account
Friday April 10th by 5:00pm: Co-Sponsorship Form Deadline
for the 2015 Fiscal Year
Spring Allocations (Continued)
•
•
•
•
•
Friday April 10th by 5:00pm: Allocations decisions for the 2016 Fiscal
Year released with explanations to Student Organizations
Friday, April 17th by 5:00pm: Deadline for Student Organizations to
request an Appeal Hearing
Saturday, April 18th and Sunday, April 19th: Spring Allocation Appeal
Hearings held by Leadership Committee
Thursday, April 23rd by 5:00pm: Formal Budget Bill with Final Fiscal
Year 2016 Allocation Amounts released to Senators for review and
appealing Student Organizations
Wednesday, July 1st: Fiscal Year 2016 Starts and Student
Organizations can begin spending their Fiscal Year 2016 Spring
Allocations
Important Dates
•
Fall Allocations for the 2015 Fiscal Year:
September 2nd to October 6th
•
Fall Audit: October 13th to October 31st
•
Spring Audit: February 16th to March 6th
•
Spring Allocations for the 2016 Fiscal Year: March
9th to April 27th
How to Present to the Finance
Committee
•
It is not a bad sign if the Finance Committee asks you to come to a
meeting to present a Co-Sponsorship or Micro-Loan request that is
currently being reviewed.
•
You are most likely being asked to present due to the size of your
request and/or to seek clarity on some aspect of your request. View
it as another opportunity to make your case to the Finance
Committee.
•
What to Expect?
•
How to Present?
•
What to Present
Micro-Loans
•
A micro-loan is designed so students do not have to
front funds for an Organization to be reimbursed later,
and is specifically intended for fronting the costs of
fundraisers
•
All issued loans are interest free
•
Student Organizations must pay the loan back by
depositing the amount into the SA Finance Committee
Account within seven (7) calendar days of the event
•
You may apply for a joint Co-Sponsorship and Loan
Request
Reimbursements
•
EAFs must be submitted within 30 calendar days of purchase.
•
All SA EAFs must be signed by Financial Officer or Executive
Officer of Student Org.
•
All SA EAFs must be turned into the Student Association
Office and approved by the SA Vice President for Financial
Affairs.
•
All SA EAFs will take approximately 6-8 weeks to process, this
is due to processing time in SA, CSE, and Accounts Payable.
•
All SA EAFs must be approved by the SA VPFA in order to be
processed.
Prohibited Items
•
Gifts for students
•
Gifts for speakers (this is classified as any compensation for a speaker that is not explicitly laid out as a part
of that speaker’s honorarium/contract).
•
Scholarships and prize money.
•
In-kind prizes for contests or competition (e.g., trophies, plaques, etc.)
•
Transition dinners or other off-campus events reserved for an exclusive segment of a particular student
organization.
•
Alcohol, drugs, firearms or university-prohibited items.
•
Direct donations to charities/other causes
•
Investments (stocks, mutual funds, etc.) and gambling
•
Any items not explicitly approved by the Finance Committee via general allocations, co-sponsorships or
other approval
Individual Student Organization
Financial Planning Meeting
•
Attending this meeting will reflect positively during
Co-Sponsorships and allocations. The Finance
Committee Chair and Vice-Chair will meet with
individual Student Organizations to answer any
questions they may have on the SA's financial
polices, along how the Finance Committee can
support that particular Student Organization.
•
Sign up for a 20 minute meeting at
http://doodle.com/eifxtmzrhhh7deci