Fun Fund Manual
Organization Check Request Form Organization Transfer Funds Form
SGA Treasurer’s Manual
Table of Contents
Student Organization Funding 2
Finance Committee Jurisdiction 2
The Finance Committee and Meeting Procedures 3
Steps to Obtain Funding 4
Annual Budgets 5
Obtaining Funds 5
Spending Funds 5
Special Allocations 7
Student Loan Program 8
Funding Violations 8
Appeal Procedures 8
Sound Fiscal Management 9
Completing the Elon University Check Request Form 10
Sample Check Request Form
Completing the SGA Petty Cash Request Form 11
Sample Petty Cash Forms
Appendix C: 12
Budget Hearing Guidelines
Student Organization Funding
Finance Committee Jurisdiction
Overview: Student activity fees are collected from all full time Elon University students and are administered under the jurisdiction of the Vice President of Student Life. The Vice President of Student Life has delegated the authority to allocate 51% of the total collected student activity fees to the Student Senate under the advisement of the Student Government Association advisor. The SGA Finance Committee has been designated as the advisory committee for the allocation of funds from these student activity fees. The Student Government Association Treasury is comprised of all full time Elon University Student’s Student Activity fees, which are paid each semester. Qualifications for Funding: The Student Government Association Budget Hearing Committee allocates funding to recognized campus student organizations and university programs based upon merit as determined by this manual and the committee. The Senate shall consider a recognized campus student organization or university program if the Office of Student Activities recognizes it. The Office of Student Activities must categorize said organization as in good standing. Use of Funds: Funds generated from the student activity fees are used to support student organizations, programming, the student loan program, and special projects. These fees fund the annual budget, programming, university van funds, the Media Board, honor organizations, and travel requests for student organizations and campus programs. Recognized student organizations may request funding from Student Government Association accounts through an approved funding process. All requests from student activity fee funding are processed through the Student Government Association. The Finance Committee reviews all primary funding requests and submits its recommendations to the Student Senate for approval. The Student Government Association Office of the Treasury serves several functions relative to funding:
- Assists student organizations in obtaining funding
- Assists student organizations in the management of their funding request accounts
- Advises and trains student organization leaders on the funding process
- Provides accurate bookkeeping and reporting services
- Ensures adherence to all Elon University policies and procedures
- Ensures that the funds allocated to student organizations are expended as approved
- Oversees the SGA Fun Fund
- Manages the Student Loan Program
The Finance Committee and Meeting Procedures
The Finance Committee will be comprised of the executive treasurer, assistant treasurer and the four at-large treasurers. The assistant treasurer will serve as the Assistant Chair of the Finance Committee. The Finance Committee’s primary responsibility is to serve as an advisory board on student activity fees to the Student Senate. The committee monitors and recommends funding guidelines for all student organizations. The Budget Hearing Committee, which is comprised of the Finance Committee, the executive president, the executive president-elect, the executive treasurer-elect as voting members, and the Student Government Association advisor as a non-voting member. The Budget Hearing Committee will be chaired by the executive treasurer, who will not vote, except in the case of a tie. The Budget Hearing Committee hears and reviews all funding requests for annual budget allocations, programming, and travel. The executive treasurer shall submit a finalized budget to the Senate for approval as mandated by the SGA Constitution. The executive treasurer and the Finance Committee reserve the right to request a meeting for the review of records maintained by an organization’s treasurer at any time, in order to ensure financial records are sound. The executive treasurer shall consider any piece of legislation that makes use of student activity fees for review before it is sent to the executive vice president to be placed on the docket. Consideration shall include a study of the feasibility of the release of funds as well as a cost benefit analysis of the legislation. The executive treasurer shall deliver a State of the Treasury Report once a month during the first meeting of the month. A motion to table may delay this report. This motion cannot be made for more than one week or for more than two consecutive meetings. The assistant treasurer shall deliver a State of the Student Government Budget Report once a month during the second meeting of the month. A motion to Table may delay this report. This motion cannot be made for more than one week or for more than two consecutive meetings.
Steps to Obtain Funding
1. Determine Eligibility
Student organizations must be recognized and in good standing with the Student Life Committee and the Student Government Association in order to be considered for funding. A student organization requesting funding must be recognized by the Student Senate (i.e. have an approved Constitution on file in the Office of Student Activities and not fall under the Interfraternity Council, National Pan-Hellenic Council & Panhellenic Council umbrellas) at least 30 days prior to receiving funds. Funding requests will be considered prior to the 30-day rule; however, funds will not be made available until the organization has been recognized for 30 days.
2. View the Funding Video
In order to request and/or spend any money from student activity fees, recognized student organization treasurers must view a funding video, which is available at the beginning of the fall term. In the video, student organizations will be provided with information detailing instructions on completing funding requests and on spending procedures. The advisor to the SGA will hold a session for organization advisors. Students will not have access to their allocated funds until they have viewed the funding video.
3. Attend a Budget Hearing
In order to request funding for the following fiscal year, the student organization treasurer MUST attend a budget hearing during the spring term. Student organizations will receive an email prior to these hearings with instructions for the hearings. These hearings are for student organizations to submit and explain their budgets before the Budget Hearing Committee. Student organization treasurers may email the Student Government Association Executive Treasurer prior to the hearings with any relevant questions.
4. Meet all deadlines
Annual Budget requests for the following fiscal year are approved during the spring term. In order for an organization to be considered for the funding for the upcoming year, an Annual Budget request must be submitted to the Student Government Association Office. The deadline will be posted and announced by the executive treasurer. If an organization’s request is late, a written appeal must accompany the funding request. The executive treasurer, with the assistance of the Budget Hearing Committee, will then decide whether or not to hear the budget request. If no appeal is submitted, the executive treasurer reserves the rights to return the funding request without it being heard.
Annual Budgets for the following academic year are approved during the spring term. At the beginning of the spring term, student organization presidents, treasurers, and advisors will be notified of the application process via the organization’s presenters email listed on the application. Budget packets may be obtained at the Annual Budget Seminar. In order to receive annual budget funds, the student organization treasurer MUST attend a mandatory Annual Budget Seminar in the spring term as well as the Funding Seminar conducted in the fall term. The Annual Budget application must be turned in to the Student Government Association Office in accordance with the deadline set by the executive treasurer. It is the organization’s responsibility to submit budgets on time. The Budget Hearings Committee will determine a recommendation based on the percentage of funds expended the previous year, the number of requests received, the number of students impacted, the amount of funds available, and previous spending patterns. Additionally, the Budget Hearings Committee will use the decision criteria for annual budget funding requests located in the Appendix of this manual. The Budget Hearings Committee’s allocations for all groups are typically completed before spring break. This recommendation will then be forwarded to the Student Senate for approval. Following approval by the Student Senate, the executive treasurer will then inform groups of the amount recommended by the committee via email. Newly recognized student organizations are eligible for annual budget allocations 30 days after recognition by the Student Life Office and the Student Senate. The new organization’s President and Treasurer must make an appointment with the executive treasurer to review budget procedures prior to requesting funds.
Annual Budgeted funds may be used from September to May during the current fiscal year. All Annual Allocation funds will be frozen in early May, as determined by the executive treasurer. Organizations must be recognized and in good standing with the Student Life Committee and Student Government Association at the time of allocation and when using funds. Organization’s whose t does not attend a funding seminar during the fall term will not be allowed to continue to use Annual Allocation funds during the fiscal year. There will be no exceptions to this rule. Organizations must be conscientious to spend funds within their allocations. Any amounts over the allocation will be deducted from the next year’s allocation and could be subject to additional monetary penalties including, but not limited to, an overdraft fee of 10% the overage. Groups must plan ahead for upcoming disbursement needs. All encumbrance requests, budget disbursements and check expenditure requests MUST be submitted at least two weeks prior to the date the funds are needed. Requests submitted less than two weeks ahead of a deadline may not be filled in time. Any money allocated to an organization will be organized into different line-item object codes within the organization’s whole budget. Organizations should budget for the ensuing year. Object codes will be observed unless approved by the executive treasurer. Annual budget funds can be spent in three different ways: Reimbursements, Cash Advances, and Encumbrances.
A. Reimbursements can be given to individual members of an organization when itemized receipts are presented for purchased goods. Itemized receipts are required. No money can be given out without itemized receipts. Also, reimbursements will not be given for alcoholic items, tobacco products, or
items not deemed necessary or appropriate by the executive treasurer. Receipts must be itemized; this
also includes credit card receipts from meals.
1. Reimbursements under $150.00 can be given in petty cash, which will be obtained once receipts are given to the Executive Treasurer (See Appendix B). Itemized receipts are required
2. Reimbursements over the $150.00 will be given by check from the university. Itemized receipts are required.
3. The Student Government Association and Elon University accept no responsibility for bills incurred by an organization or individual without proper authorization. If such a bill is incurred, the Student Government Association and Elon University accept no responsibility for payment. This includes on-campus agencies as well as off-campus vendors. No reimbursements will be made to individuals or groups under these circumstances. If a student or group is uncertain about a particular expense, they should consult with the executive treasurer before the bill is incurred (e.g. contracts, letters of agreement, invoices, etc.).
B. Cash Advances can be given to individual members of an organization to be spent on items/events directly related to the organization. All requests for cash advances require a letter to the executive treasurer stating the intended purpose of the funds. After the cash advance is given, the organization will not be permitted to make any more transactions until all receipts and any money remaining from the cash advance are returned to the SGA executive treasurer. Itemized receipts are absolutely necessary. Cash advances shall not exceed $500.
C. Encumbrances are necessary when an organization wishes to purchase any goods or materials over $500.00. The organization must complete and receive purchase authorization BEFORE an order is placed or a contact initiated. Any orders placed without proper authorization will become the sole responsibility of the student/faculty or staff member who places the order. If the item is satisfactory, the organization will then contact the SGA executive treasurer, who will notify the Elon University Purchasing Office to render payment to the vendor from which the item was purchased. Encumbrances are required for orders, purchases or contracts over $500.00. There will be no exceptions.
Contracts for Goods or Services: All contracts /agreements for services on behalf of any University entity (including student organizations) must be signed by the Vice President for Business and Finance or his designate after review by the Assistant Vice President for Student Life. Contracts/agreements for services completed without both signatures are null and void. If an individual student, faculty or staff member enters in to agreement without proper signatures, he or she does so at their own risk and expense. Only the Student Government Association executive treasurer can approve transaction to/from an organization’s account. Any transactions that are not approved by the will be null and void. Exceptions to this rule are those budgeted expenses at the Elon University Print Shop, Campus Shop, Media Services, ARAMARK, or any other vendor which requires an account number on campus. These transactions do not require the approval of the executive treasurer. However, upon using these services a record of purchase shall be submitted to the executive treasurer for accurate records. The SGA Executive Treasurer will obtain any signatures required to approve a transaction.
A. Expenditures of any amount require the signature of the SGA Executive Treasurer and the SGA Advisor.
B. Expenditures of $2,000.00 or more will require the signatures of the SGA Executive Treasurer, the SGA Advisor, the Associate Dean of Student Life, and the Vice President of Student Life.
C. Expenditures of $5,000.00 or more will require the signatures of the SGA Executive Treasurer, the SGA Advisor/Associate Dean of Students, and the Vice President of Student Life and the Vice President for Business and Finance.
Special Allocations Any student or student organization may make requests for additional funds. The request must be put in writing (stating the amount requested and the justification for that amount) to the executive treasurer for review by the Finance Committee or Executive Committee and must be approved by the following persons. Finance Committee
A. Requests for less than $500.00 by a recognized student organization will be reviewed by the Finance Committee. The decision must be a majority vote. Three members of the committee and the executive treasurer must be present for consideration. A committee member may vote by proxy through another executive officer, so long as that vote is in writing.
B. Requests for more than $500.00 by a recognized student organization will be reviewed by the Finance Committee and the additional funding must be approved by the Student Senate. The decision must be a majority vote. Three members of the committee and the executive treasurer must be present for consideration. A committee member may vote by proxy with another member of the Board if the proxy is in writing.
C. Requests for less than $500.00 by any parties other than the recognized student organizations will be reviewed by the SGA Executives. The decision must be a three-fourths vote with the executive treasurer in the majority, unless he or she must recuse themselves. All four executives must be present for consideration. An executive may vote by proxy through another executive, so long as the proxy is in writing.
D. Requests for more than $500.00 by any parties other than recognized student organizations will be reviewed by the SGA Executives. The additional funding must be approved by the Student Senate. The decision must be a three-fourths vote with the executive treasurer in the majority unless the executive treasurer must recuse himself of herself. All four executives must be present for consideration. An executive may vote by proxy through another executive, so long as the proxy is in writing.
E. On October 23, 2008 the Student Senate approved an endowment of $150,000 to the university. This was done in order to implement a “Fun Fund” separate of other funding projects of the Student Government to enhance the ability of students to produce events on campus for the entertainment and enjoyment of the entire student body. In order to get more information about the Fun Fund, go to www.elonfunfund.com.
Student Loan Program
Any Student may come to SGA for a loan through the Student Loan Program. This program is designed to help students who may need assistance buying textbooks or paying for other student expenditures. A student loan may not exceed $300.00. To receive a loan, a student most complete a Promissory Note form, an Application Form and the Pre-Loan Checklist. In completing these forms, students accept the following conditions should the loan not be repaid in full by the due date:
1. The student shall not receive their semester grades;
2. The student shall not attend classes the following semester;
3. The student shall not receive a loan in the future;
4. The student shall not be allowed to graduate;
5. The student shall not receive their transcript until the loan is paid in full;
6. The student shall be charged a 10% late fee of the principle amount for each semester for which this loan goes uncollected. Should the loan be sent to collections, there will be an additional $25.00 charge.
The policies, procedures and violations that appear in this manual in regards to funding are NOT all-inclusive; they are to provide appropriate guidance to student organizations. Student organizations are expected to adhere to the guidelines outlined in this manual. Failure to do so will result in disciplinary action against the organization. This disciplinary action shall be in accordance with the policies, prohibitions, restrictions, and procedures outlined in this manual and as governed by the university in the student handbook. Discipline may include, but is not limited to, probation of student organization status or suspension of funding eligibility. All alleged violations shall be confirmed by an investigation conducted by the executive treasurer and the advisor to the Student Government Association. The executive treasurer will report all findings of the investigation to the appropriate authorities. Once a violation has been confirmed, the Finance Committee shall issue a penalty in accordance with the violation. The maximum penalty shall not exceed more than one year of funding revocation, the repayment of funds and/or freezing of account usage until problem is corrected and deemed so by both the executive treasurer and the SGA advisor. The organization may submit a written appeal to the Student Senate within one week of the judgment. For more information, please see the “Appeal Procedures” section below.
A Student organization may appeal a decision of the Finance Committee at the next scheduled Student Senate meeting. A written appeal must be submitted to the executive treasurer within two working days following the Finance Committee’s decision. In addition, a student organization representative must attend the Student Senate meeting to make a formal appeal. If no representative is available, the appeal will not be heard. The Student Senate may decide to accept the decision of the Finance Committee, or to send the decision back, with recommendation, for reevaluation. Should the Student Senate decide to reject the decision, the Finance Committee will reconsider their original decision, taking into careful consideration the recommendation of the Student Senate. At this point, the Student Senate shall have the option to either accept or reject the revised recommendation of the Finance Committee. If once again rejected, the proposal will be returned to the requesting organization, with explanation. The organization may resubmit the original or revised proposal to be considered by the Finance Committee and the Student Senate under the same process. Any proposal may not be submitted to the Finance Committee more than three times in total.
Sound Fiscal Management
An important responsibility of an organization is maintaining financial records. Most organizations earn revenue and incur expenses. Keeping accurate and up-to-date information on revenues and expenses is vital to the financial success of the organization. Each organization should select a treasurer to be responsible for the finances of the organization. This person should be carefully chosen, trustworthy and honest. The treasurer will be entrusted with all the revenues received by the organization and authorized to disperse funds. The treasurer should execute fiscal responsibilities of the organization by using the best judgment when paying expenses from the group’s funds and by keeping accurate records to substantiate all transactions. The organization treasurer shall also be responsible for initiating and maintaining a sound relationship with the Student Government Association Executive Treasurer.The president and advisor should also take part in the group’s finances. The treasurer should inform these individuals regularly of the organization’s financial status. The organization’s financial records should be kept in one central location. The transition from one treasurer to another will be much easier if all records are in one location. If the treasurer resigns or withdraws from school, the organization’s records are not lost and are available for the new treasurer. Knowing the current financial status of the organization is vital to its officers. Does the organization need to raise funds to meet its needs? Is there enough money in the account to send organization members to the regional convention? If the group purchases refreshments for the next meeting, will there be enough money to buy supplies for the major event later in the year? These questions could be answered easily if accurate records are kept of all organization transactions. For most organizations, a simple journal, or check register, should be sufficient to record transactions. Records should always be reconciled against the bank statement and/ or Elon University records. By balancing records monthly, discrepancies and errors may be eliminated when they occur rather than creating hours of work at a future date. Student organizations may consult the SGA Executive Treasurer for help in developing a bookkeeping system or in reviewing their current system. Recognized student organizations should develop a budget for each year. Goals and objectives should be considered when developing the budget. Past records are an excellent resource for future planning or projections. Organizations should start the budget process by projecting revenues and estimating expenses for the year’s coming activities. Generally, revenues are conservatively projected and expenses are slightly overestimated. . During the year, actual transactions should be compared to the estimated budget. Keep in mind that the budget is an estimate and should be followed closely throughout the fiscal year.
Completing the SGA Check Request Form
Organization treasurers and the SGA Executive Treasurer use this form for check requests and all disbursements of money to/from their organizational accounts (except for those disbursements incurred with the Elon University Print Shop, Campus Shop, Media Services, ARAMARK or other on-campus vendor which requires an account number.
The following is a list of guidelines for using the check request form:
1) Amounts must be above the amount set by the comptroller.
2) If ordering supplies, equipment, etc. that cost $250 or more a purchase order should be used in place of the check request. See the executive treasurer for these forms.
3) All information, receipts, invoices, etc. must accompany the check request.
a. Itemized Receipts must be included for all purchases.
4) Elon Student ID number (datatel) is REQUIRED for checks made payable to Elon University Students, Faculty or Staff.
5) Federal ID numbers or address is REQUIRED for checks made payable to companies.
The “Check Payable To:” section of the form should signify whom the check is to be made out to or to whom the money is to be given upon completion of the request. If the check is being made out to an off campus company or vendor, then a formal invoice with a valid mailing address must accompany the check request. If you would like the check given to someone other than to whom it is to be made out to, then please specify this on the Give Check To: line. The “Charge To Account Title:” should specify by name to which line account the organization would like the money drawn from. The Account Number: should then be specified. Please be sure to double check and make sure that the account number you have supplied correctly coincides with the account you wish to draw from. Please remember that all total amounts over $150.00 will be dispersed in the form of a check and that all amounts under $150.00 will be dispersed in cash through the executive treasurer. The forms provided allow for three accounts to be drawn from on the same request. If any more than three are to be used please consult with the SGA executive treasurer before turning in the request. The Explanation: portion of the form should briefly explain the purpose of the request. In most cases, the contact person listed on the request should be the organization’s treasurer. Please note that for a check request to be completed, BOTH the organization treasurer and the organization advisor MUST sign the check request form. The check request will not be completed without both signatures and it is the responsibility of the organizations to get both of these signatures, not the SGA. Please bear in mind that the Elon University Accounting Office only disperses checks on Tuesdays and Thursdays and that, depending upon the size of your request, it may take upwards of one to two weeks to receive your requested funds. Allow two weeks for the processing of your check request(s). If you have any questions about the status of your check request(s), consult the SGA executive treasurer. Check requests that are not complete will be NOT be processed. No exceptions. Appendix B
Completing the SGA Petty Cash Request Form The SGA Office of the Treasury uses a separate form for petty cash requests. The form, like the Check Request Form,is used for reimbursements. . This form is used for amounts under $150.00. Itemized receipts should be turned in with this form. Requests without receipts will be returned to the organization unprocessed. Policies regarding the use of the Petty Cash Request Form:
1) All receipts must accompany the request.
a. Itemized Receipts must be included for all purchases.
2) Only reimbursements under the amount set by the comptroller may be requested with the form.
3) Only one account may be used when requesting reimbursements.
4) The signature of the organization treasurer and advisor must both be on the request.
5) Requests should be turned in one week prior to the date needed.
6) Elon Student ID number (datatel) is REQUIRED.
Things to consider during Budget Hearings In order to ensure fairness among organizations, the Budget Hearings committee will allocate the following amounts for the specified events:
o Hotel = $80 per night
o Gas = $.10 per mile
o Airfare = $250
o No Food for conferences
o National Conferences 2-3 members
o Regional Conferences 6-10 members
*Some exceptions may apply NOTES
Organization Check Request Form Organization Transfer Funds Form