Gsb finance 101
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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.

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GSB Finance-101

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Gsb finance 101

GSB Finance-101

Katherine benton

Finance Director


Who cannot recieve funding

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


Allocation cycles

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


Asking for funding regulars specials

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


Senate bills process

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


Capital projects account

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?


Senate discretionary

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


Events account

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.


Budget adjustments

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


What should gsb fund

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


Overview

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


Questions

Questions??

There are NO stupid questions


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