SGAFinance Committee Workshop

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SGA-Finance Committee Workshop

• Created by Elijah Stine
• Fall 2007
• (Updated August 25, 2007)

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Abbreviations

• SAF Student Activity Fund Student Activity Fee
• FC Finance Committee
• SGA Student Government Association
• OSAO Office of Student Activities Orientation
• FUB Follow-Up Budget
• IDR Inter-Departmental Requisition

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Understanding FC

• To understand the hows and whys of Finance
  Committee, you must first understand what FC is
  in charge of, the Student Activity Fund.
• The SAF comes from all of you and all the
  students on campus
• 60 per semester per full time student
• Other students, such as graduate, part-time, and
  Vander Cook students pay into the SAF as well.
• There is approx 200,000.00 put into the SAF each
  semester
• It is to be used for Student Activitiesyour
  clubs and organizations

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The Job Description Authority

• Finance Committee allocates money from the SAF
  based upon requests from student organizations
• The SGA Bylaws dictate the rules for obtaining
  money from the SAF in a fair manner.
• The Guidelines are the specifics that Finance
  Committee has establish for evaluating proposals
  consistently for each semester.

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Finance Board Members

• Vice President of Finances / Chair Ian Roe
• Vice Chair/ Workshop Coordinator Eli Stine
• Funding Request Coordinator
• Treasurer
• Internal Clerk
• External Clerk
• Follow-Up Budget Coordinator
• Asst. Follow-Up Budget Coordinator
• Webmaster Tim Schug

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Requirements for Proposing to FC

• Student Organizations are registered with IIT.
• Organizations and individuals cannot be
  ineligible when they propose
• At least one individual on the proposal must have
  attended an FC Workshop
• Include the signature of the Organizations
  Advisor or a Staff member from the Office of
  Student Activities Orientation (OSAO) and the
  Organizations President.

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Required Parts for Proposals

• Cover Sheet
• Proposal Description
• Line Item Description
• Membership List
• Current and Previous Budgets

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Coversheet

• First sheet
• Contact information
• Basic costs of each proposal
• Signatures

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Proposal Description

• Explain the needs and request
• Answer the questions listed on the form.

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Line Item Descriptions

• Several Categories vary according to type of
  proposal
• Helps FC to see the breakdown of expenses
• Describe in detail why a certain aspect is
  necessary for the proposal

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Membership List

• Should be up to date as possible
• If the organization is too large, include the
  names of the executive board and a number of
  members
• Names of people proposing must be included in
  membership list
• One copy must be submitted for all proposals at a
  hearing

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Current Previous Budgets

• Current Budgets should include all expected
  incomes and expenses, even if they are estimates
• Previous Years Budget should be available from
  the treasurer of your organization
• If it is a new organization, please note in the
  proposal that there is no previous years budget.
  
• These should include all SAF and non-SAF funded
  items
• One copy of each must be submitted for all
  proposals at a hearing

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Types of Proposals

• Capital
• Competition
• Conference
• Operating
• Programming

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Capital Proposals

• A one time purchase of an item
• Must have at least one year of use
• Must be available to all students to use have a
  check out system included in proposal
• There is a list of all current Capital purchases
  at fb.iit.edu any duplicate purchases will need
  to be justified

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Competition Proposals

• The SAF can finance 50 of the cost for a
  competition, but no more than 250 per person
• Must provide proof of competition
• Prizes are subject to becoming property of IIT,
  at the discretion of the SGA advisor

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Conference Proposals

• Two different levels maximum funding per
  organization
• Regional 1500
• National 2250
• Per individual, only 250 per person, up to half
  of the total cost
• Must provide proof of conference and some form of
  presentation of the information shared at the
  conference upon return that is open to all
  students.

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Operating Proposals

• Used to buy services or supplies that are
  necessary for the operation of an org.
• Maximum per year is 1000
• TechNews SGA exceptions

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Programming Proposals

• Used to finance programs or events
• Justification for attendance and demonstrated
  attendance is important
• Surveys are used mostly for Programming Proposals

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The Proposal Process

• Research
• Justification
• Quotes
• Funding Request Form
• Proposal Submission
• The Hearing
• After Approval
• Disbursement of Funds -Office of Student
  Activities
• Line Item Changes
• Project Changes
• Follow-Up Budgets

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Research

• Has this event been done before?
• What vendors are best?
• Surveys/Interest
• OSAO is available to help and give advice for
  vendors and ideas

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Surveys

• Per FC Guidelines, surveys are recommended to
  show interest and justify an estimated attendance
  for a new event
• Exact specifications for an acceptable survey can
  be found in the FC Guidelines

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Justification

• Why will this event be a success?
• Why is this necessary for the operation of your
  organization?
• How fiscally responsible is this
  event/program/conference?

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Funding Request Form

• Five different forms choose the one that matches
  your request
• Full proposals are due in the Funding Request
  mailbox in the Student Activities Office by 930
  pm on SGA Tuesdays (as listed online).

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Quotes

• Provide quotes from different vendors, if
  possible
• Dont have to choose the least expensive explain
  reasons for choice
• The best way to document quotes are official
  quotes brochures, etc.
• Phone quotes are discouraged, however if
  unavoidable, name, contact information, date of
  conversation and quote must be included

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No Comparisons Quotes

• Office Max
• Peapod.com
• Sodexho
• Office Services
• Public Safety
• Alien Light and Sound

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Proposal Submission

• Submit Proposals by 930pm on SGA Tuesdays.
• Proposal picked up at SGA Senate Meetings
• Proposal Picked up at mail box in Student Org.
  Center
• Proposal Submissions deadlines are very strict.

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Hearing of Organizations

• Arrive 5 minutes before your time
• Bring a copy of your proposal be prepared to
  answer any questions
• Additional visitors must be approved by the VP of
  Finance in advance by email.

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Notification

• An email notification will be sent by 500 pm on
  Thursday stating the decision of FC.
• Allocation reports will be placed in the mailbox
  of the organization by 500 pm on Friday.
• Proposals which were not approved may be revised
  and resubmitted at the next proposal deadline on
  the following Tuesday.

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After your funding is allocated

• Once funding has been allocated, you need to
  spend your money.
• The Office of Student Activities and Orientation
  is there to help.

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After Approval OSOA

• Disbursement of Funds
• This is the form that you turn into the OSAO.
• FC does not cut checks, we only approve/allocate
  funding, but do not handle the funds.
• Then how does your money get to your vendors?
• Get a check cut directly to your vendor
• Get an IDR for departments on campus
• Use a PO (purchase order) like a check but faster
• Reimbursement, use as a last resort with prior
  approval.

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After Approval

• All disbursement paper work must be turned into
  the OSAO Thursday by 300pm.
• If not turned in by this deadline, funds will not
  be processed until the following week.
• The earliest you can have an event is 10 business
  days, 2 weeks after the Thursday of the week you
  turn in your disbursement paper work.

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Changes

• Changes happen.
• Line Item Change Form
• Use to move money from one line to another.
• You can only move money that was approved.
• Change of Event Form
• For any other change to your event.
• Includes change of date, content, admission cost,
  etc.

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Follow-Up Budgets

• Keep your
• Receipts
• Every paper pertaining to how money was spent
• Allocation report
• Line-item change forms
• Change of event forms

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Follow-Up Budgets

• Fill out the FUB form in the order listed
• Attach all receipts and documents relating to
  expenses making sure they are clear and
  understandable
• FUBs are due by 500 pm on either the First or
  Third Monday of the following month
• Notification of the FUBs status will be made two
  weeks later
• If an FUB needs to be revised, it must be
  resubmitted that following Friday.

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Follow-Up Budgets

• Tier System
• Follow-Up Budgets will be ranked on a tier system
  for internal evaluation based upon their quality.
• Tiers are ranked one thru five.

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Tier System

• If a Follow-Up Budget is ranked as Tier Three and
  includes reasonable explanations for the missing
  items, organizations must resubmit their revised
  Follow-Up Budget no later than the Friday
  following the notification without penalties.
• If a Follow-Up Budget is ranked as Tier Four or
  Five, but was turned in without being late and
  including reasonable explanations for the missing
  items, organizations must resubmit their revised
  Follow-Up Budget no later than the Friday
  following the notification without penalties

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Appeals

• Should an organization feel that Finance
  Committee did not follow it guidelines or bylaws,
  an appeal may be made to the Judicial Board
• To appeal Finance Committees allocation
  decision, the organization shall contact the
  Chief Justice by written letter no later then one
  week after FCs notification.
• Judicial Board can be contacted on the SGA
  website, www.iit.edu/sga or by email at
  campusjboard_at_iit.edu

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Technical Aspects

• Everything included
• Quotes
• Math adds up
• No binding contracts signed before money
  allocated
• ALL contracts must be signed by a staff member of
  the Office of Student Activities Orientation.

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Financial Responsibility

• As each student pays only 60 into the SAF. Any
  activity or event should fall well below this
  mark, assuming a student will attend for than one
  event per semester. Any cost over 30-40 may
  require additional justification.
• Items viewed as superfluous which do not have
  sufficient justification may be cut from a
  proposal

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Forbidden Things

• Support of any groups which exclude from
  participation any student on the basis of
  religion, race, ethnicity, nationality, creed,
  sexual orientation, marital status, age, gender,
  or physical disability. Recognized social
  Fraternities and Sororities will be exempt from
  the gender restriction.
• Budgets proposed for money already spent.
• Personal loans or expenditures for school, living
  expenses, or anything else for the benefit of a
  private individual or private purpose.
• The purchase of alcohol.
• Fundraising for any organization.
• Direct donations to a charity. Funding may be
  provided however, for a charity event (equipment
  rentals, publicity, band, etc).
• Groups/activities that fall under the direct
  financial responsibility of any academic or
  athletic department (excluding club and
  intramural sports).

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Tricks of the Trade

• Make everything thorough and understandable
• Review this workshop at fc.iit.edu
• Have a FC member look over your documents before
  submission
• If you are new or old to proposing, the OSAO can
  help, before you propose or after funds are
  approved.
• Dont do anything hurriedly or haphazardly

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Dates
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Disclaimer

• This workshop is intended to provide a sense of
  how FC operates and looks at proposals
• It is by no means the conclusive guide
• For further information, consult the FC
  Guidelines and the SGA Bylaws at fb.iit.edu