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Understanding the Financial Fundamentals of Budgeting

Understanding the Financial Fundamentals of Budgeting. Associated Students, Inc. ASI is a recognized auxiliary organization of Cal Poly Pomona. Consists of elected and appointed student leaders. ASI Executive Director. Led by the ASI Senate composed of 24 board members.

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Understanding the Financial Fundamentals of Budgeting

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  1. Understanding the Financial Fundamentals of Budgeting

  2. Associated Students, Inc. • ASI is a recognized auxiliary organization of Cal Poly Pomona. • Consists of elected and appointed student leaders. • ASI Executive Director. • Led by the ASI Senate composed of 24 board members. • Representatives from councils. • Academic Senate. • The ASI Advisor (President’s designee) At Large Councils Multi-Cultural Council (MCC) Greek Council Educational Interest Council (EIC) Academic Councils Agricultural Council Business Administration (UBSS) Education & Integrative Council (CEIS) Engineering Council Environmental Design Council (ENV) Hospitality Management Council (HMC) Letters, Arts, & Social Science (CLASS) Science Council

  3. Getting Started The two keys to getting started for the new fiscal year. • Chartering with the Office of Student Life (OSL) • All clubs/organizations/councils need to be a recognized entity on campus by re-chartering with the OSL. • ASI Signature Form • To activate an existing account within ASI, all clubs, organizations, and councils are required to maintain current signature forms and to provide a copy of the re-charter from OSL.

  4. Chartering with the Office of Student Life (OSL) • In June OSL will be requesting all groups to begin the re-chartering process and to attend a mandatory meeting. • Additional information can be obtained by contacting the following OSL staff members or online at www.dsa.csupomona.edu/osl Jenny Guerra Coordinator for Student Involvement and Greek Life Office: (909) 869-4492 Email: jguerra@csupomona.edu

  5. ASI Signature Form Make sure all sections of the ASI Signature Form are filled out, including the section labeled -Authorization/Executed by (completed by the individual responsible for maintaining the account).

  6. Agency Account (Blue) Agency accounts or blue accounts are identified with a letter in the account number; for example 3P0020. All groups will start with an agency account. All funds in the account are from fundraising, dues, membership, etc. They have no budget. ASI Account (Green) ASI accounts or green accounts are identified with a with all numbers that will start with a 17, 15, or a 16; for example 170001. ASI accounts are budgeted accounts. Funding for these accounts comes from council allocations. Funds are to spent according to the budget submitted. ASI Accounts

  7. ASI Budget Request/Reline • There are three parts to the budget. • ASI Budget Request Form • Line Item Explanation • Response to Questionnaire • Confirm your carryover balance from prior year. • Begin working on your budget request. (see Club Budget request handout for reference) • All requests must be typed and contain three original signatures (advisor and two other authorized representatives).

  8. Budget Process

  9. Submittal to the Council Treasurer Budgets will be accepted by the council treasurer and he/she will set the deadline as to when they are due. • Approval Process • Budgets will be reviewed and approved by the council/ treasurer. • All allocations will be determined by the council. After Approval Once the budget has been approved by the council’s e-board , the budget will be submitted to the ASI Business Services office for final review and posting. It will take up to two weeks for review and posting. If there are questions or corrections, it could delay the process.

  10. THE FORBIDDEN . . . Alcohol Drugs Tobacco Firearms Religion Politics Any purchase, use, mention, or reference is not allowed.

  11. The Budget Committee: Requesting Additional Funding

  12. What is its purpose? • To provide the opportunity for additional funding to clubs/councils. It is a recommending body to the ASI Senate, shall act upon all financial policies, and budget requests. Funding is through the NP&A (New Programs and Augmentations) reserve account. • Who is it composed of? • The ASI Treasurer, Members of the Executive Board, Senate, and ASI/University Staff The Budget Committee

  13. Who can apply? • Any club or council that is recognized by the University. • Where are the funds coming from? • Small percentage is allocated from ASI Fee’s • Repossession at the end of the year from Clubs and Councils The Budget Committee (cont)

  14. Leadership Conferences • Educational Conferences • Educational Workshops • Cultural Months • Collegiate Competitions • Tutoring (out of the tutoring and retention reserve) …..And more!!! Examples of NP&A Funding:

  15. Step 1: Submission of budget request • The club /council must submit a budget request (using the forms provided on the business services website), and submit to the student gov. office • Once approved by the ASI Treasurer, it will be added to the next budget committee’s agenda • Step 2: Deliberations with budget committee • A representative(s) from the student club/council will deliver their speech regarding their need for extra funding. • If the funding is approved for a request under $2500 dollars it will be disbursed • If funding is approved for a request over $2500 dollars, the budget committee will make a recommendation to the senate • Step 3: Senate Approval • The recommendation from the budget committee will go under review by the Senate and would then need to pass by 2/3 vote. The Process

  16. Submit Budget Request for $4500 on February 25th • If all paperwork checks out, it will be put on the agenda for the next budget committee meeting on March 7th • If committee approves $4500 dollars they will recommend the amount to the senate, which will meet on March 13th • On March 13th, this agenda item will fall under a discussion and the club/council can give a presentation. • On April 10th it will then be an action item, and the senate will vote on the budget committees recommendation. Timeline (example) Proposing a March 31st deadline for submitting requests for additional funding to budget committee

  17. Requesting a reimbursement • The Budget Committee does not reimburse clubs/councils for events that have taken place prior to submission of request • Disregarding Financial Guidelines and Stipulations • i.e. Funding a faculty/staff event, alcohol, tobacco, risk management, etc. No-No’s of Requesting Additional Funding

  18. Administrative Fund • Provides clubs/councils funding up to 1,000 dollars for on campus events, leadership conferences, and outreach programs • Provides individual students for reimbursement of up to 250 dollars www.dsa.csupomona.edu/vicepresident/adminfund Other Sources of Funding on Campus

  19. Reference Information

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