1 / 12

GSB Finance-101

GSB Finance-101. Katherine benton Finance Director. Who cannot recieve funding?. Let’s take a look at Priorities and Criteria Examples- Residence Halls (not open to all fee-paying students) Greek Houses (not open to all fee-paying students) Departmental Groups Pre-Professional Groups.

brett-burns
Download Presentation

GSB Finance-101

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. GSB Finance-101 Katherine benton Finance Director

  2. Who cannot recieve funding? • Let’s take a look at Priorities and Criteria • Examples- • Residence Halls (not open to all fee-paying students) • Greek Houses (not open to all fee-paying students) • Departmental Groups • Pre-Professional Groups

  3. Allocation Cycles • Regular Allocations • General allocation period • Organizations create a budget for the next fiscal year • Funds available from July 1st to June 30th • Funds released in September/October • Can Student Organizations start spending money before September? • Special Allocations • Groups that did not come through Regulars • Groups that have an unforeseen expense • Ex- spike in membership • Funds available from January 1st to June 30th • Misspent/Unused Funds • Taken back on July 1st

  4. Asking for Funding- Regulars/Specials Attend Informational Session Attend Budget Help Session Submit budget online Attend Senate Meeting Attend Budget Balancing Session, if necessary Attend Allocation Hearing • Budgets are approved

  5. Senate Bills Process • Difference from Specials/Regulars? • 1. Senator writes a bill • 2. Bill goes through Finance Committee • Finance Committee makes their recommendations/ proposed amendments • 3. Sent to Senate with possible discretion • Favorably, Unfavorably, No-Bias • 4. First Read- Questions of Intent • 5. Second Read- Vote on Bill • 6. If affirmed- Organizations receive money

  6. Capital Projects Account • Bill written by GSB Senator • Funds in this account shall provide a means to allocate funds for capital expenditures that have the capacity of benefiting all students and/or student organizations. • Items must be a minimum of $1500 • Must have a life expectancy of at least 3 years • These are owned by GSB and for any group to use • What if the group disbands? • What if the group wants to sell the capital items?

  7. Senate Discretionary • Bill written by a GSB Senator • For items Senate “deems appropriate” • About $8,000 per session, three sessions of Senate per term • Any unused funds in this account remaining at the end of the first or second sessions of the Senate shall remain in this account • All unused funds at Inauguration shall be automatically transferred to the Capital Projects Account. • Allocation to this account cannot exceed $15,000/session and cannot be less than $7,000/session

  8. Events Account • Theory for Events Account • ½ misspent funds • Allows every organization to be eligible • Bill written by GSB Senator • Funding is provided for events that are: • Entertaining or social in nature, • Open to all students, • As well as free of charge to all students • Events Account “Cap” • Funds exceeding $50,000 in this account shall automatically be transferred to the Capital Projects Account.

  9. Budget Adjustments • Line Item Transfers • Changing of GSB Allocation from one existing line item to another • Who can do what? • $500 or less= Finance Director • $500 or more= Finance Committee • $1500 or more= Senate approval through bill • Must submit sufficient cause for this need • Carryover Requests • Pertains to groups needing to spend their allocation funds after June 30th • Same approval guidelines as Line Item Transfers • Except Finance Committee has approval rights up to $2,000 • Deadlines • If greater than $499 the request must be in four weeks prior to end of semester • If less than $500 the request must be submitted before end of spring semester • Case-by-Case basis

  10. What should GSB fund? • Priorities and Criteria (P & C) • Guidelines used by Finance Committee during allocation periods and groups creating budgets • Grey or Black/White? • Requires a majority vote to waive during allocation periods • GSB By-Laws • Chapter 11 • Concrete rules regarding GSB funding • Requires a 2/3 vote to waive at all times

  11. Overview • Process of organizations asking for funding • Allocation Cycles vs. Senate Bills • Organization eligibility • Please refer to P&C and Chapter 11 of the By-laws for specifics • Design and purpose for each account stated • Capital • Capital Expenditures • Senate Discretionary • What Senate “deems appropriate” • Events • All organizations eligible • Free and open to all students • Entertaining in nature

  12. Questions?? There are NO stupid questions

More Related