- FINANCIAL COMMITTEE CODES
AUTHORIZATION
The Finance Committee is authorized by the Student Senate Constitution Bylaw IV.MEMBERSHIP
Five Student Senators
Senators are to be selected by the Student Senate at the annual Organizational meeting, at least one of which must be a second term senator.
One Senator shall be a freshman class senator, appointed by the chair of the committee, with consultation by the President of the Student Body.
The chair shall be selected by the committee.
The Finance Chair shall appoint one committee member to be the Secretary to keep accurate records of all committee actions.
Ex-official
The Chair (may vote to break a tie), the President of the Student Body and the Executive Treasurer of the Student Senate (non-voting)
DUTIES
As outlined in the Student Senate Constitution Bylaw IV, Section B, Clauses 1-7.
MEETINGS
The Chair shall call all meetings of the Finance Committee.
The Finance Committee shall hold regular meetings; at least one before each regularly scheduled Student Senate meeting, in accordance with the academic calendar.
At least two voting committee members and the chair must be present to constitute a quorum at a meeting.
CONSIDERATION GUIDELINES
The following guidelines will apply to all Media organizations:
Only campus media organizations authorized by the Committee on Media shall automatically qualify for Media Status.
Total budgetary allocations from Media and Budgeted organization will not exceed 85 percent of projected Student Activities Fees for the following academic year.
Budgets shall be submitted for the following academic year no later than six weeks prior to the end of the current academic year, the exact date to be set by the Treasurer of the Student Senate.
The Finance Committee shall not approve budgetary request containing the following items:
• Memorials, donations, and contributions
• Food during conferences
• "Slush", "miscellaneous", and "special appropriations" funds, etc.
• Protests to express political opinions(M)edia organizations are strongly discouraged from requesting funding from the Special Appropriations Account except in emergency cases.
The committee will consider reasonable transportation, lodging, and registration costs to be appropriated according to demonstrated fiscal need, fiscal history, precedent set at the discretion of the Finance Committee, the number of members of said organization attending, and to the anticipated benefit to the Student Body from said event/conference.
Projected expenditures and anticipated revenue must be itemized in an organization's budget request.
(M)edia organizations may have paid officers; however, salaries may not exceed the salary of the President of the Student Body.
In the event that a (M)edia organization's expenditures exceed its allotted budget for that academic year, the amount of its extra expenditures shall be deducted from their approved budget for the following academic year. The amount shall not exceed 10% of the approved budget for the following academic year.
(M)edia organizations may request funding from the general capital expenditure fund for the replacement of broken and/or antiquated equipment. Unnecessary or unreasonable upgrades will not be considered.
Any sale of equipment must be approved by the Finance Committee. All such remaining funds shall be placed into the Student Senate general capital expenditures fund for the following academic year. All funds received via the sale of said equipment must be verified with receipt.
In order to receive funds all (M)edia Organizations must send the Treasurer, President, or representative of the President to the Leadership Conference sponsored by Student Senate in the fall or spring semester. If the Treasurer is unable to attend, a meeting must be scheduled with the Executive Treasurer of the Student Senate before funds may be received.
All expenditures of (M)edia organizations must be authorized by the executive Treasurer of the Student Senate, in accordance with the organization's approved budget.
The Following will apply to all (B)udgeted organizations:
An organization must be an (A)llocated organization for at least 3 semesters to be eligible for (B)udgeted status.
Total budgetary allocations from (M)edia and (B)udgeted organization will not exceed 85 percent of projected Student Activities Fees for the following academic year.
(B)udgeted organizations must demonstrate a fiscal need of at least $3,000 per year.
Budgets shall be submitted for the following academic year no later than six weeks prior to the end of the current academic year, the exact date to be set by the Treasurer of the Student Senate.
The Finance Committee shall not approve budgetary request containing the following items:
• Memorials, donations, and contributions
• Food during conferences
• "Slush", "miscellaneous", and "special appropriations" funds, etc.
• Protests to express political opinions
(B)udgeted organizations are strongly discouraged from requesting funding from the Special Appropriations Account except in emergency cases.
The committee will consider reasonable transportation, lodging, and registration costs to be appropriated according to demonstrated fiscal need, fiscal history, precedent set at the discretion of the Finance Committee, the number of members of said organization attending, and to the anticipated benefit to the Student Body from said event/conference.
Projected expenditures and anticipated revenue must be itemized in an organization's budget request.
(B)udgeted organizations may have paid officers, however, salaries may not exceed the salary of the President of the Student Body.
If an organization's expenditures exceed its allotted budget for the academic year, then the amount of their extra expenditures shall be deducted from their approved budget for the following academic year.
(B)udgeted organizations may request funding from the general capital expenditure fund for the replacement of broken and/or antiquated equipment. Unnecessary or unreasonable upgrades will not be considered.
Any sale of equipment must be approved by the Finance Committee and verified with receipt. All such remaining funds shall be placed into the Student Senate general capital expenditures fund for the following academic year. All funds received via the sale of said equipment must be verified with a receipt.
In order to receive funds all (B)udgeted Organizations must send the Treasurer, President, or representative of the President, to the Leadership Conference sponsored by Student Senate in the fall or spring semester. If the Treasurer is unable to attend, a meeting must be scheduled with the Executive Treasurer of the Student Senate before funds may be received.
All expenditures of (B)udgeted organizations must be authorized by the Executive Treasurer of the Student Senate, in accordance with the organization's approved budget.
The following guidelines will apply to (A)llocated Organizations:
An organization must be a (R)ecogized organization for at least 2 semesters to be eligible or (A)llocated status.
The Allocated Appropriations request must be submitted by the deadline of one semester before the event, no later than eight weeks before the end of the current semester, at the exact date set by the Executive Treasurer of the Student Senate.
Total Allocated Appropriations requests shall be at least $400 per academic semester or comprise funding for two or more major events.
Total appropriations awarded to (A)llocated organizations for one semester in advance will not exceed 10% of budgetary allocations for Special Appropriations for the following academic year.
The Finance Committee shall not approve Allocated Appropriations requests for allocated Organizations containing the following:
• Memorials, donations, and contributions
• Food during conferences
• Food for more than two non-event meetings per semester
• "Slush", "miscellaneous", and "other" funds, etc.
• Protests to express political opinions
• Office supplies and/or equipmentThe committee will consider reasonable transportation, lodging, and registration costs to be appropriated according to demonstrated fiscal need, fiscal history, precedent set at the discretion of the Finance Committee, the number of members of said organization attending, and to the anticipated benefit to the Student Body from said event/conference.
The Finance Committee may approve Allocated Appropriations where monetary need has been proven to be necessary one semester in advance of the event for essential planning purposes.
No funds shall be awarded for paid officers, paid positions or honorariums to members within the organization.
Funding requests for uniforms will be considered if the uniforms are to remain in the organization for a period of at least two years.
(A)llocated Organizations are strongly discouraged from requesting further funding from Special Appropriations Account except in emergency cases.
At the discretion of the Executive Treasurer of the Student Senate approved Allocated funds shall be forfeited by the organization if receipts and/or other documentation are not submitted to the Executive Treasurer of the Student Senate by the end of the approved semester.
All appropriated funds will be available to the organization, at the discretion of the Treasurer of the Student Senate, within one-week following the submission of proper documentation.
In order to receive funds all (A)llocated Organizations must send the Treasurer, President, or representative of the President, to the Leadership Conference sponsored by Student Senate in the fall or spring semester. If the Treasurer is unable to attend, a meeting must be scheduled with the Executive Treasurer of the Student Senate before funds may be received.
All expenditures of (A)llocated organizations must be authorized by the Executive Treasurer of the Student Senate, in accordance with the organization's approved allocation.
The following guidelines will apply to all (R)ecognized Organizations requesting funds from the Student Senate Special Appropriations fund:
No funds shall be awarded for paid officers, paid positions or honorariums to members within the organization.
The Finance Committee shall not approve requests for (R)ecognized Organizations containing the following items:
(a) Requests for t-shirts, key chains, and promotional items
(b) Food for more than one non-event meeting per semester
(c) Requests for donations, contributions, or other memorials
(d) Requests for printing, stamping, sending, copying, or office supplies
(e) Protests to express political opinionsThe committee will consider reasonable transportation, lodging, and registration costs to be appropriated according to demonstrated fiscal need, fiscal history, and precedent set at the discretion of the Finance Committee, the number of membership attending, and to the anticipated benefit to the Student Body from said event/conference.
Reasonable funding requests for speakers shall be considered with consideration of other possible funding sources.
Funding requests for uniforms will be considered if the uniforms are to
remain in possession of the organization for a period of at least two years.At the discretion of the Executive Treasurer of the Student Senate approved (R)ecognized funds shall be forfeited by the organization if receipts and/or other documentation are not submitted to the Executive Treasurer of the Student Senate by the end of the approved semester.
All appropriated funds will be available to the organization, at the discretion of the Treasurer of the Student Senate, within one-week following the submission of proper documentation.
In order to receive funds all (R)ecognized Organizations must send the Treasurer, President, or representative of the President, to the Leadership Conference sponsored by Student Senate in the fall or spring semester. If the Treasurer is unable to attend, a meeting must be scheduled with the Executive Treasurer of the Student Senate before funds may be received.
All expenditures of (R)ecogonized organizations must be authorized by the Executive Treasurer of the Student Senate, in accordance with the organization's approved Special Appropriation
AMENDMENTS
Amendments to Article V will be at the discretion of the finance Committee, subject to notification of the Student Senate.
The Finance Committee, enacted under approval of the Administration Committee and the Student Senate will recommend Section B Amendments to this code.