1 / 30

2014 Student Organization Leadership Training Presentation

2014 Student Organization Leadership Training Presentation. Ben Pryde , Finance Chair & Caroline Bourque, Finance Vice-Chair August 24, 2014. SA Finance Committee : Allocates the money to the student organizations on campus based on the budgets in submitted.

darena
Download Presentation

2014 Student Organization Leadership Training Presentation

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. 2014 Student Organization Leadership Training Presentation • Ben Pryde, Finance Chair & • Caroline Bourque, Finance Vice-Chair • August 24, 2014

  2. SA Finance Committee: Allocates the money to the student organizations on campus based on the budgets in submitted. SA VP of Financial Affairs: Authorizes reimbursements for student organizations after money is spent. President: Signs or Vetoes the Allocations Bill. GWU Center for Student Engagement: Reviews allocations, reimbursement requests, approve requests for revenue account dollars, and work with student orgs on contractual matters. Who is involved in finances?

  3. How the SA Budget Works

  4. SA FY15 Budget Breakdown • Total Budget FY15: $1,103,371(+12% from FY14) • Spring Allocation Budget: 1,103,371*0.82 = $904,764 • Spring Allocation Appeal Budget: 1,103,371*0.03= $33,101 • Co-Sponsorship Fund: 1,103,371*0.15 +FY14 rollover= $225,761

  5. Comparison to Previous Years

  6. Affects current freshman and sophomores Takes 9 years to go into full effect and will increase revenue over 12 years Would still make our fee lowest in the District Fee Increase Referendum passed with 66.6% voting in favor during 2012-2013 Academic year. Fee Increase

  7. Fee Increase Schedule

  8. Graph of Fee Increase

  9. Largest Allocations

  10. Top 15 Organizations FY15 FY13 FY14

  11. Key Statistics • Average Allocation in FY15: $3,809 • Average Allocation in FY14: $3,173 • Average Allocation in FY13: $2,979 • 83 Orgs at $1000+ in FY14, remained at 83 in FY15 • 93 Orgs at $750+ in FY14, up to 108 in FY15 • 12 Orgs at $1-$100 in FY14, down to 3 in FY15

  12. Budget Breakdown • Administrative: Office supplies, memberships, athletic officials, non-GW printing, graphics, uniforms. (8% of total budget) • Programming: Any spending that advances execution of an individual program. (72% of budget) • Sub-organization: Money that must be allocated by an umbrella group to their sub-organizations. (20% of budget)

  13. Umbrella Organizations • The following organizations have been designated as umbrella organizations: • Student Bar Association (G)* • Medical Center Student Council (G)* • GSHED Student Association (G) • MBAA (G) • Club Sports Council (U) • Inter-Fraternity Council/ / The Panhellenic Organization (U) • Multicultural Greek Council (U) • The Engineer’s Council (U) • Jewish Student Association (U) • * Bold denotes the umbrella “opted-in” under Bylaw 303, Section 3 (D)

  14. Internal FY15 SA Budget • Total Internal SA Budget ~2.5% of Overall SA Budget • SA Executive Budget: $27,882 • Executive budget mainly covers: Office Assistants, Xerox contract, VPFA and Assistants • SA Legislative Budget: $0 • SA Judicial Branch: $0

  15. Criteria The finance committee shall not consider: Parity between similar organizations Student body funds that were unspent by the organization in previous years Other factors: The Student Association has a non-discrimination clause in its bylaws. As such the Finance Committee can and will penalize an organization found to be discriminating against members by the University run “Student Grievances Panel.”

  16. Line-Item Budgeting • First year of true Line-Item budgeting • Brings Student Association into line with University Standards and Student Governments at other Universities • Necessary as SA budget increases over next decade from $1 million to approximately $2 million

  17. Line-Item Transfer Requests

  18. Line-Item Transfer Requests

  19. Fall and Spring Audits • The Finance Committee is obligated to perform two yearly audits in the months of October and February per Section 6(a) of Student Association Bylaws. • The objective of both audits is to ensure Student Organizations are spending their SA funds. • All Student Organizations that have not spent any of their SA funds will have the opportunity to give an explanation. • If an explanation is found unsatisfactory as to why a Student Organization has not been spending their funds, the Finance Committee may, by a simple majority of those present and voting, reclaim up to 50% of the funds from the Student Organization’s Student Association Account.

  20. Fall and Spring Audits (Continued) • If a Student Organization fails to respond to either audit in the specified time period, the Student Organization will be penalized 50% of their Student Association account balance. • If a Student Organization fails to respond to the February Audit, and have not spent any student body funds, all student body funds in the student organization’s Student Association account will be reclaimed automatically. • All remaining funds from Line-Items that indicate the event was intended to occur during the Fall Semester will be reclaimed automatically by March 6th. Notifications of these reclamations will be sent out to the affected Student Organizations.

  21. Monday, October 13th:Announcement email with Google Form Link Monday, October 20th:First reminder email with Google Form Link Wednesday, October 22nd:Final reminder email with Google Form Link Friday, October 24th by 5:00pm: Fall Audit responses due from Student Organizations via Google Form Wednesday, October 29st 5:00pm: Notifications of Allocation Reclamations sent to Student Organizations who fail to respond to Audit or fail to give satisfactory explanations Fall Audit Schedule

  22. Monday, March 9th: First 2016 Fiscal Year Fall Allocations reminder email sent to Student Organizations Monday, March 16th: Second 2016 Fiscal Year Fall Allocations reminder email sent to Student Organizations Friday, March 20th: Final 2016 Fiscal Year Fall Allocations reminder email sent to Student Organizations Monday, March 23rd by 5:00pm: Budgets Due for 2016 Fiscal Year via Student Organizations’ SOMA account Friday April 10th by 5:00pm: Co-Sponsorship Form Deadline for the 2015 Fiscal Year Spring Allocations Schedule

  23. Friday April 10th by 5:00pm: Allocations decisions for the 2016 Fiscal Year released with explanations to Student Organizations Friday, April 17th by 5:00pm: Deadline for Student Organizations to request an Appeal Hearing Saturday, April 18th and Sunday, April 19th: Spring Allocation Appeal Hearings held by Leadership Committee Thursday, April 23rd by 5:00pm: Formal Budget Bill with Final Fiscal Year 2016 Allocation Amounts released to Senators for review and appealing Student Organizations Wednesday, July 1st: Fiscal Year 2016 Starts and Student Organizations can begin spending their Fiscal Year 2016 Spring Allocations Spring Allocations (Continued)

  24. Fall Allocations for the 2015 Fiscal Year: September 2nd to October 6th Fall Audit: October 13th to October 31st Spring Audit: February 16th to March 6th Spring Allocations for the 2016 Fiscal Year: March 9th to April 27th Important Dates

  25. How to Present to the Finance Committee • It is not a bad sign if the Finance Committee asks you to come to a meeting to present a Co-Sponsorship or Micro-Loan request that is currently being reviewed. • You are most likely being asked to present due to the size of your request and/or to seek clarity on some aspect of your request. View it as another opportunity to make your case to the Finance Committee. • What to Expect? • How to Present? • What to Present

  26. Micro-Loans • A micro-loan is designed so students do not have to front funds for an Organization to be reimbursed later, and is specifically intended for fronting the costs of fundraisers • All issued loans are interest free • Student Organizations must pay the loan back by depositing the amount into the SA Finance Committee Account within seven (7) calendar days of the event • You may apply for a joint Co-Sponsorship and Loan Request

  27. EAFs must be submitted within 30 calendar days of purchase. All SA EAFs must be signed by Financial Officer or Executive Officer of Student Org. All SA EAFs must be turned into the Student Association Office and approved by the SA Vice President for Financial Affairs. All SA EAFs will take approximately 6-8 weeks to process, this is due to processing time in SA, CSE, and Accounts Payable. All SA EAFs must be approved by the SA VPFA in order to be processed. Reimbursements

  28. Gifts for students Gifts for speakers (this is classified as any compensation for a speaker that is not explicitly laid out as a part of that speaker’s honorarium/contract). Scholarships and prize money. In-kind prizes for contests or competition (e.g., trophies, plaques, etc.) Transition dinners or other off-campus events reserved for an exclusive segment of a particular student organization. Alcohol, drugs, firearms or university-prohibited items. Direct donations to charities/other causes Investments (stocks, mutual funds, etc.) and gambling Any items not explicitly approved by the Finance Committee via general allocations, co-sponsorships or other approval Prohibited Items

  29. Attending this meeting will reflect positively during Co-Sponsorships and allocations. The Finance Committee Chair and Vice-Chair will meet with individual Student Organizations to answer any questions they may have on the SA's financial polices, along how the Finance Committee can support that particular Student Organization. Sign up for a 20 minute meeting at http://doodle.com/eifxtmzrhhh7deci Individual Student Organization Financial Planning Meeting

More Related