SGA Finance Committee Guidelines 2011-2012
The following are the Finance Committee Guidelines for the 2011-2012 Academic Year. Please familiarize yourself with them. While these guidelines represent the structure under which the Committee operates, they are, of course, guidelines, meaning the Committee reserves the right to observe them as the Committee sees fit.
Budgeting is used to enable a club to do its work but expect your proposed budget to look different than it has in the past. Since many previous restrictions have been lifted, we want to issue funds in smaller parcels. The Finance Committee will work closely with treasurers to communicate our hopes and goals regarding our regulations in order to make the 2011-2012 year successful.
Always remember: the budget you are given is not final; many groups will need to request additional funds to hold a large event, for example. You can ask for more money throughout the academic year.
All the best,
The Finance Committee
3. Accessing Funds
4. Financial Responsibility
a. Occurs in the spring, or upon approval as a new organization.
b. The Organization’s next year’s treasurer MUST be present for budgeting.
c. Proposed budget consists of planned events or purchases. Specific proposals are best.
d. Finance Committee grants an overall budget.
e. Organizations can change their plans! The money can be used for other purposes as long as it stays within the guidelines.
f. Budget not big enough? Groups can always make a proposal to increase their budget, but should spend what they have first.
These items must be updated annually. No budget will be approved until these requirements are fulfilled. Student organizations must have:
- a. MiddLink Profile:
- Faculty advisor
[[This should be updated with purchases you make. We will compare these changes if your organization is audited.]]
– Updated Roster
b. Year-end report
[[What you accomplished this year, where the money went, and who participated.]]
3. Accessing Funds:
a. Check with the restrictions: be sure your items can be covered by the Finance Committee. [[see part 5, or find them at go/sgafc]]
b. The budget is yours: spend it on what your club wants to do.
c. ONLY treasurers can submit receipts to the Student Activities Office by filling out a reimbursement form. (Or just make the purchases in the SAO)
* Receipts must still be submitted for purchases using an index code, or budget can be frozen.
4. Financial Liability:
Students take on responsibility and liability by spending student organization funds. You, as treasurer, are responsible to know the guidelines. You are liable personally for purchases made that cannot be reimbursed under our guidelines, including those made using index codes – do not hand out your code!
We will audit 10 randomly selected groups every 2 months, and all groups at year’s end. Violations will result in group or individual consequences, depending on the infraction.
5. FAQ, Restrictions & Special Cases:
a. No handouts, giveaways, prizes, clothing items, etc.
b. If you get a budget increase for a specific purpose, you must spend it on that!
c. Commons fund individuals, Finance Committee funds organizations. Do not go to the Commons and ask for money.
d. Speakers are funded through the MCAB Speakers Committee
[[Other performers (magicians, comedians, etc.) are funded by the FC. Come to us first, not the Commons.]]
e. Equipment purchases must be inventoried and have storage space secured.
f. LIS printing budgets are set at $10. If a group needs to do more printing, they must work with Student Activities to increase the budget.
g. The Middlebury College employee designated by the Director of Student Activities must sign all contracts made with outside performers/vendors. Students do not have authorization to make contracts with outside organizations, including verbal agreements, which are legally binding in the state of Vermont. Contact someone in Student Activities at least 2 weeks before the event in order to initiate the paperwork process. If you enter a contract without approval, you may be liable. Retroactive contracts will not be issued. [[Contact the FC if you need a budget increase to fund an event.]]
h. Reserving a space or room? Leave at least 2 weeks to work with the Events Scheduling Office. go/eventreserve [[Failure to leave enough time can result in significant restrictions to available services]]
i. Travel is reimbursed/charged at $0.30 per mile. College vans are $12.50/day+ $0.30/mile, and private rentals include a $4.00/day charge for insurance. [[The reimbursement form will ask how far you traveled and for your gas receipts.]]
j. Reserve vans far in advance: they’re in short supply.
k. Student driving travel associated with an organization is limited to a 300 mile radius from Middlebury, unless an exemption is obtained from Student Activities. See the Student Activities website for more information.
l. The amount of post-season travel (for club sports) support depends on number of participants and distance, but is capped at a maximum of $5,000 per year per team. Teams must request post-season travel funds in person from the Finance Committee.
m. For ticketed events, proceeds go to pay back the Finance Committee for costs (returned to the allocation account), then the net profits can be deposited in a gift account or donated. Events that do not sell tickets but instead suggest a donation can keep or donate all proceeds.
n. Publications must work with Lyn Degraff in Reprographics at the beginning of each semester (early Oct. & Jan./Feb.) to avoid issues with Reprographics’ schedule. All publications must be ready-to-distribute by April 1 at the latest. Publications with a distribution date after April 1 will be denied. Funding for publications is $2000 for one issue, or $3000 for two.
o. Groups can take out a loan for expenses not funded by the FC. Student members of the organization must co-sign the loan. Outstanding debt affects a club’s ability to get a budget.
p. Volunteer service organizations may be granted a budget or funded by the Service Cluster Board’s Flex Fund.
q. Purchases can be made during the summer in preparation for the coming school year, but need approval.
[[Talk to Student Activities for approval. Purchases only for preparation for the upcoming academic year.]]
r. Account balances (excluding “gift accounts”) do not roll over to the next year.
s. No alcohol, tobacco, firearms/ammunition, or live animals can be purchased.
t. Typically, alumni, relatives, or other members of the College community cannot be paid to speak/perform unless it is their sole profession. It is required that clubs notify the Finance Committee if funds will go to relatives of or members of the Middlebury College community. The Finance Committee, and if appropriate, the Speakers Committee, must be made aware of such plans to avoid any possibility or appearance of impropriety. Failure to alert the Committee may result in the cancellation of the event and revocation of funding.
u. Organizations cannot use student activity fee funds to pay coaches or advisors.
v. No student wages.
w. Appeals to Finance Committee decisions can be filed through the SGA Appeals Committee.
Email firstname.lastname@example.org or visit go/sgafc.