SGAFinance Board First Time Workshop

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SGA-Finance Board First Time Workshop

• Created by Alayna George
• Spring 2006
• (Updated January 14, 2006)

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Abbreviations

• SAF Student Activity Fund Student
  Activity Fee
  
• FB Finance Board
• SGA Student Government Association
• OSA Office of Student Activities
• FUB Follow-Up Budget
• IDR Inter-Departmental Requisition

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Overall Goals of FB

• Our Mission
• To ensure the appropriate spending of the Student
  Activity Fund.
  
• Our Commitment
• To hear proposals from student organizations and
  help them understand the policies and procedures
  for receiving funds.
  

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Understanding FB

• To understand the hows and whys of Finance
  Board, you must first understand what FB is in
  charge of, the Student Activity Fund.
  
• The SAF comes from all of you and all the
  students on campus
  
• 60 per semester per full time student
• Other students, such as graduate, part-time, and
  Vander Cook students pay into the SAF as well.
  
• There is approx 200,000.00 put into the SAF each
  semester
  
• It is to be used for Student Activitiesyour
  clubs and organizations

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The Job Description Authority

• Finance Board recommends allocations of money
  from the SAF based upon requests from student
  organizations
  
• The SGA-Finance Board Bylaws dictate the rules
  for obtaining money from the SAF in a fair
  manner.
  
• The Guidelines are the specifics that Finance
  Board has establish for evaluating proposals
  consistently for each semester.

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Requirements for Proposing to FB

• Student Organizations are registered with IIT.
• Organizations and individuals cannot be
  ineligible when they propose
  
• At least one individual on the proposal must be
  an SGA voting member.
  
• At least one individual on the proposal must have
  attended an FB Workshop
  
• The individual(s) who hold these qualifications
  must be present at the hearing.
  
• Include the signature of the Organizations
  Advisor or a Staff member from the Office of
  Student Activities (OSA).

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Required for Proposals

• Cover Sheet
• Proposal Description
• Line Item Description
• Membership List
• Current and Previous Budgets

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Coversheet

• The first sheet of your proposal
• Has basics of proposal
• Form is found online, fb.iit.edu

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Proposal Description

• This gives you the chance to explain your
  proposal
  
• Answer any questions listed on the form,
  including
  
• How would you justify your expected attendance?
• Why this event/purchase?

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Line Item Descriptions

• Several Categories vary according to type of
  proposal
  
• Help FB to see breakdown of where money is going
  to be spent
  
• This is the place to describe in detail why a
  certain aspect is necessary to your proposal

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Membership List

• Should be up to date
• If organization is too large, include the names
  of the executive board
  
• Names of people proposing must be included in
  membership list
  
• Attach this to all proposals

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Current Previous Budgets

• Current Budgets should include all expected
  incomes and expenses, even if they are estimates
  
• Previous Years Budget should be available from
  the treasurer of your organization
  
• Attach these to the end of every proposal
• These should include all SAF and non-SAF funded
  items

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Types of Proposals

• Capital
• Competition
• Conference
• Operating
• Programming

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Capital Proposals

• A one time purchase of an item
• Must have at least one year of use
• Must be available to all students to use have a
  check out system included in proposal
  
• There is a list of all current Capital purchases
  at fb.iit.edu any duplicate purchases will need
  to be justified
  

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Competition Proposals

• The SAF can finance 50 of the cost for a
  competition, but no more than 250 per person
  
• Must provide proof of competition
• Prizes are subject to becoming property of IIT,
  at the discretion of the SGA advisor

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Conference Proposals

• Two different levels maximum funding per
  organization
  
• Regional 1500
• National 2250
• Per individual, only 250 per person, up to half
  of the total cost
  
• Must provide proof of conference

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Operating Proposals

• Used to buy services or supplies that are
  necessary for the operation of an org.
  
• Maximum per year is 1000
• TechNews, FB, SGA exceptions
• Can be allocated by FB during normal hearing
  without needing to be approved by SGA

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Programming Proposals

• Used to finance programs events
• Justification for attendance and demonstrated
  attendance is important
  
• Surveys are used mostly for Programming Proposals

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The Proposal Process

• Research
• Justification
• Quotes
• Funding Request Forms
• The Hearing
• After the Hearing
• After Approval
• Disbursement of Funds
• Line Item Changes
• Project Changes
• After spending money
• Follow-Up Budgets

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Research

• Has this event been done before?
• What vendors are best?
• Surveys?
• Office of Student Affairs is available to help
  and give advice

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Surveys

• Per FB Guidelines, Surveys are recommended to
  show interest and justify an estimated attendance
  for a new event
  
• Exact specifications for an acceptable survey can
  be found in the FB Guidelines

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Justification

• Why will this event be a success?
• Why is this necessary for the operation of your
  organization?
  
• How fiscally responsible is this
  event/program/conference?

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Quotes

• Provide quotes from different vendors, if
  possible
  
• Dont have to choose the least expensive explain
  reasons for choice
  
• The best way to document quotes are official
  quotes brochures, etc.
  
• Phone quotes are discouraged, however if
  unavoidable, name, contact information, date of
  conversation and quote must be included
  

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No Comparison Needed

• Office Max is an acceptable quote for office
  supplies
  
• Peapod.com is acceptable for food or grocery
  items
  
• These quotes do not need comparison quotes

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Funding Request Form

• Found at fb.iit.edu
• Five Different forms choose the one that matches
  your request
  
• Full Proposal Due in Funding Request mailbox by
  9pm on day of a regular SGA meeting or to a
  designated member of FB before commencement of
  the SGA meeting

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The Hearing Process

• Private Hearing
• Hearing of Organizations
• For more information, check out the Hearing Tips
  at fb.iit.edu

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Private Hearing

• FB will meet Thursday after SGA to review
  proposals. Several decisions
  
• Pass-2/3 vote this is for very sound proposals
• Request for Information-FB needs clarity on a few
  key points
  
• Revise and Resubmit-there is some technical issue
  with your proposal that needs to be fixed

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Requests and Revise

• All changes must be resubmitted by 5 pm on the
  Monday before the Hearing of Organizations
  
• If there are any questions, feel free to contact
  FB for clarification

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Hearing of Organizations

• Arrive 5 minutes before your time
• Bring a copy of your proposal be prepared to
  answer any questions
  
• Most questions asked will be about the issues
  listed in the letter asking you to attend the
  Hearing

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After the Hearing

• A letter stating our decision will be in your
  organizations mailbox by 5pm on Friday after the
  hearing
  
• Appeals- contact SGA President by email or
  letter
  

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SGA Meeting

• A representative from your organization must be
  present
  
• If approved, pick up allocation report from Vice
  Chair

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After Approval

• Work with the Office of Student Activities to
  properly disperse your funds

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After spending funds

• Keep your receipts!
• Keep a copy of every paper pertaining to how
  money is spent. Attach them to the FUB.
  

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Follow-Up Budgets

• Keep Your Receipts!
• Keep Your Allocation Report!
• Fill out the form
• Underline items
• Make it easy to understand

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LegiSlate

• legislate.iit.edu
• A system purchased by SGA last year to aid in
  communication of students
  
• After proposing, it is highly recommended that
  the coversheet be posted to LegiSlate this
  allows you to track the progress

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Finance Board Members

• Chair
• Vice Chair
• Treasurer
• Clerk
• Funding Request Coordinator
• Follow-up Budget Coordinator
• Asst. Follow-up Budget Coordinator
• Workshop Coordinator
• Files/Website

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Chair

• Heads FB
• Presents requests to SGA
• Attends Appeals

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Vice Chair

• Makes Allocation Reports
• Fills in for Chair

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Treasurer

• Keeps Track of amount money in SAF

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Clerk

• Keeps minutes of Hearings and FB meetings
• Writes decision letters

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Funding Request Coordinator

• Handles funding requests
• Makes schedule for hearing

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Follow-up Budget Coordinator

• Processes FUB
• Works with OSA to ensure that organizations are
  spending what they requested for in way they
  requested

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Asst. Follow-up Budget Coordinator

• Helps FUB Coordinator

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Workshop Coordinator

• Creates Workshop each semester
• Keeps track of who has attended

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Files/Website

• Organizes office
• Updates website

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Whats looked at in a Proposal?

• Technical Aspects
• Financial Responsibility

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Technical Aspects

• Everything included
• Quotes?
• Math adds up
• No binding contracts signed before money
  allocated
  

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Financial Responsibility

• As each student pays only 60 into the SAF,
  activities that draw close to or above this
  amount may require more justification
  
• Items viewed as superfluous which do not have
  sufficient justification may be cut from a
  proposal

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Forbidden Things

• The SAF may not be used for
• Purchase of Alcohol
• Fundraising for any organization
• Direct Charitable donations
• This is not a conclusive list the full list can
  be found in the FB Guidelines

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Tricks of the Trade

• Make the proposal thorough but understandable
• Have a FB member look over your proposal
• Dont do anything hurriedly or haphazardly

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Disclaimer

• This workshop is intended to provide a sense of
  how FB operates and looks at proposals
  
• It is by no means the conclusive guide
• For further information, consult the FB
  Guidelines and Bylaws at fb.iit.edu
  

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Good Luck!

• Have fun proposing!