Transcript Budget Allocation

Budget Allocation
By Hunter Malasky , Budget Committee Chair
Spring 2015 Budget Committee
Hunter Malasky (Chair)
Bradford Orr
Kevin Jia
Christopher Dijs
Lisa Gosine
Gad Choir
Luke Summerlin
Haoshu Xu
Maaz Ahmad
Iliana Ragnone
Mari Earhart-Price
Luke Summerlin
Reuven Shechter
Julien Reiman
Travis Parr
Vikram Biswas
Budget Allocation Process
Today
Friday, Feb. 9 Midnight
Treasurer’s
Training
Submit Budget
on SU Finance
website
Submit Appeal on
SU Finance
website
Feb.10-22
Feb. 23-March 4
Budget Interview
Budget
Allocation
Group decides
to Appeal
Groups receive
Allocation
Treasury
Approves
Allocation
No deadline
~March 19
March 17
Budget Submission
Thanks Kenneth for making this!
Step 1: Go to SUFinance.wustl.edu
Now it’s
January 31, 2015
1 to 3pm
Simon 113!!!
Step 2: Click on your Group
Step 3: Click on Add New Event
Step 4: Enter Information and Click Save
Frequently Asked Questions
Q1. Do I have to have the exact dates?
No, but you have put an realistic
approximate date!
Q2. What’s the difference between WU
Students and Guests?
WU Students refers to the expected
number of Wash U undergraduates.
Guests refers to the expected number of
non-Wash U undergraduates.
Different Event Types
Budget Committee has different rules for
different types of events!
Do not choose the wrong Event Type!
(When in doubt, check with me or your BAT
leader)
Fundraising Events
Fundraising Events will not be funded by
Budget Committee!
VP Finance will provide groups with loans
to hold Fundraising events!
Budget Committee will fund Revenue
events.
Step 5: Enter Individual Expenses
Please be as SPECIFIC as possible when filling out your
budgets!
For Example...
Good Example 1
Good Example 2
Good Example 3
Bad Example...
Bad Example
Yes, Bad Example
Step 6: Click Review This Budget
Step 7: Click Submit This Budget
Budget Interviews
Category I groups will need to attend a face-to-face interview.
Category II groups will receive an email interview from your BAT leader.
Be prepared and give as much information as possible! Your BAT leaders will need
the information to help you get more funding!
Interviews will take place Feb 10-22
BAT LEADERS ARE ON YOUR SIDE!
*BAT stands for Budget Allocation Team
Budget Allocation
BAT leaders will present the budgets from each BAT to the rest of Budget
Committee.
Budget Committee will go into discussion and ask BAT leaders any questions
regarding the budget! (That’s why they need the answers from you!)
Budget Committee then vote to approve an allocation amount.
The process repeats for the next student group.
Budget Allocation
After allocation has been done for all 200-300 student groups, VP Finance will look
at the total approved amount and the amount of funds available. Thereafter, he will
decide on a funding percentage.
For example: Budget Committee approves $1,000,000, but SU Treasury only has
$900,000. VP Finance will apply a 90% funding percentage across all student
groups.
Budget Allocation
For example:
Budget Committee approves $1,000,000, but SU Treasury only has $900,000.
VP Finance will apply a 90% funding percentage across all student groups.
If BC approves $1,000 of Group A’s requests, after applying 90% funding
percentage, Group A will be allocated $900.
Budget Allocation
Note: Only Category I groups are subjected to funding percentage. Category II will
always receive 100% of what is approved!
Note: If you indicate that a particular expense item is an equipment, it will also not
be subjected to funding percentage.
Treasury Approves Budget
After VP Finance decides on the funding percentage, Budget Committee Chair will
go before Student Union Treasury and present the final allocation to the
representatives.
Treasury will then vote to approve the Budget Committee Chair’s final allocation.
Group Receives Allocation
Budget Committee Chair will then send out an email to all Treasurers and
Presidents informing them that allocation results are out!
Appeal
If student groups would like to appeal for more funding, they can submit an appeal
through the SU Finance website.
If the appeal amount is less than $1,000, VP Finance will be the person who
decides.
If the appeal amount is more than $1,000, the student group will have to make a
presentation to Treasury and the Treasury representatives will vote to fund the
appeal.
Frequently Asked Questions (FAQs)
•
What’s the best advice you can give for improving your budget?
o
•
What do I do if my group wasn’t allocated an item?
o
•
Be as specific as possible when describing your line items.
Appeal direclty to VP Finance is <$1000 or appeal to treasury if >$1000
Who should I contact if I need help filling out my budget?
o
You can contact anyone on Treasury! Especially your BAT leader, me, or
Speaker of the Treasury, Kenneth Sng
Important Dates
By Feb 3:
Feb.
th
9 ,
Midnight:
Introduction Email from BAT Leaders
Budget Submission Deadline
Feb 10th – 22:
Budget Interviews conducted by BAT Leaders
March 17th:
Treasury approves Budget Allocation