FY16 Budgeting Workshop 01/20/2015 – 01/21/2015 Lafayette Hall L108, 7:00 PM OUTLINE Timeframe of budgeting season Tier review Creating your budget request Categories of the budget.
Download ReportTranscript FY16 Budgeting Workshop 01/20/2015 – 01/21/2015 Lafayette Hall L108, 7:00 PM OUTLINE Timeframe of budgeting season Tier review Creating your budget request Categories of the budget.
FY16 Budgeting Workshop 01/20/2015 – 01/21/2015 Lafayette Hall L108, 7:00 PM OUTLINE Timeframe of budgeting season Tier review Creating your budget request Categories of the budget request Budget submission instructions Hearings Special circumstances Other paperwork: Contracts, Inventory Sheets, and Club Info Sheet Summary BUDGET PLANNING FOR FISCAL YEAR 2016 January 21/22, 2015 Budget workshop (ALL TREASURERS MUST ATTEND) January 30, 2015 Budget requests and supporting documents due by 3 pm. No late submissions February 7, 2015 Budget hearings begin February 27, 2015 Budgets posted for club review March 9, 2015 Budget appeals begin March 24/31, 2015 Budgets to Senate for approval July 1, 2015 Fiscal Year 2016 begins REVIEW OF THE TIER SYSTEM Tiers are determined based on the AMOUNT REQUESTED by the club Tiers dictate the amount that a club must fundraise Tier Maximum Budget Request % of Requested to Fundraise Tier 1 $50,000+ 15% Tier 2 $20,000 - $49,999.99 10% Tier 3 $5,000 - $19,999.99 8% Tier 4 Under $5,000 5% Tier E No Budget Request Must fundraise all funds GOALS OF THE TIER SYSTEM Maintain control of budget inflation Accurately allocate funds based on need Increase responsibility of spending HOW TO CREATE YOUR BUDGET REQUEST Materials available at www.uvm.edu/sga Look at the categories before you begin Fill out info in the summary page – this makes it more efficient for us! Do NOT change the formulas Talk about your goals for the upcoming school year with your club members Be realistic! CATEGORIES OF THE BUDGET REQUEST Wages: For contracted employees (i.e. coaches…NOT referees) Services and Honorarium: For invoiced or billed services Travel: Hotels, vans, and buses Events: For events hosted by the club (i.e. workshops, seminars) Registration: Entry fees, dues, and registrations Equipment Other ALLOCATION RATES TO KNOW The finance committee will allocate UP TO: $1,000 for airfare for 2 club members ONCE a year $90 a day on van rentals $120 for a hotel room for 4 people for one night BUDGET SUBMISSION INSTRUCTIONS ALL BUDGETS MUST BE E-MAILED TO [email protected] BY 3:00 PM ON FRIDAY, JANUARY 30, 2015 Requests should be named: ClubName_Budget_FY16 HEARINGS Hearings are REQUIRED for clubs requesting greater than $20,000 (tiers 1 and 2) Sign up sheets will be available in SGA 9 am – 3 pm on February 4th and 5th Hearings will be held February 7th and 8th All clubs are allowed and encouraged to have hearings to help the committee know your specific needs SPECIAL CIRCUMSTANCES Food Budgets must be submitted at the same time as the budget submission (where applicable, you know who you are) Capital Funding Projects: let us know if you have large purchases coming up and will be planning on using capital funding in FY16 OTHER PAPERWORK ALL PAPERWORK IS DUE BY 3 PM ON JANUARY 30, 2015 Inventory sheet –must EMAIL to [email protected]. If you have no inventory, you MUST fill out and note NO INVENTORY Do not need to note items worth LESS than $50 Contractual agreement – must PRINT and submit to Sara. Make sure you have all required SIGNATURES (not printed names, this is a contract) Give your advisor a head’s up that you will be coming for their signature If your advisor is away, you must have a temporary advisor Club information sheet – done on the LYNX (www.uvm.edu/clubs), link available on SGA website SUMMARY OF BUDGET SUBMISSION FY16 BUDGET REQUESTS AND ALL ASSOCIATED PAPERWORK ARE DUE JANUARY 30, 2015 @ 3 PM Budget requests must be emailed to [email protected] (as well as food budgets, if applicable) Club inventory sheet MUST be filled out and submitted to [email protected] Contractual agreement must be PRINTED and returned to Sara at the front desk with all signature lines completed Club information sheet should be completed on the lynx Late submissions will not be accepted QUESTIONS?