Welcome to Senate’s Budget Info Sessions

Presented by Senate’s Financial Affairs Committee

Corey BurtonShigeki TanabeCarter Johnson

Opening Remarks

Make sure that before you leave this room you have signed the club attendance sheet, listing every club you are representing (sheet available at the front of the room).

You should have received the following handouts: 1) 2007-2008 Fiscal Budget Requests 2) Financial Affairs Constitution Document4) Trip Report5) Club Activation Form

If your club is intending on submitting a budget requesting $2,500.00 or more, you must sign up for Budget Justification Hearings. We have not yet set-up the justification hearing times, but when we do you will be notified via e-mail.

2007-2008 Fiscal Budget Requests Budget Itinerary

Please note the first handout with the budget form’s itinerary, 2007-2008 Fiscal Budget Requests.

Please recognize that there are two links to download for the budget (one is in Excel, the other is in Word). The Excel download for the budget (Parts I-V) is really three pages that must be selected individually through the tabs at the bottom of the spreadsheet.

2007-2008 Fiscal Budget Requests Important Dates to Remember

Take note of the important dates on the bottom half of the first hand out.

February 19, 2007 is the official due date for all budget proposals, which should be turned in by midnight. Any budget turned in after this day will be considered late and will be subject to a lateness deduction when submitted.

Remember to turn in FOUR (4) copies of your club’s budget proposal for FAC (Financial Affairs Committee) alone, any copies your club may need for records or for your presentational use at budget justification hearings (if you attend) are your club’s responsibility outside of the FOUR you submit to FAC. Make sure the copies you submit to FAC are typed and hole-punched.

2007-2008 Fiscal Budget Requests Lateness Penalties

Please carefully consider our strict penalties for progressively late budgets. Note that every month (roughly) that a budget is late after the official due date, the penalty increases.

The Penalties are as follows… February 20th, it’s 10% off. March 19th, it’s 20% off. April 19th, it’s 30% off. May 19th it’s 40% off. It is Financial Affairs’ hope that all clubs will turn in

their budgets by February 19th to avoid all lateness penalties.

Points to Keep in MindOther Penalties

Please look at the second handout passed out, Points to Keep in Mind.

Aside from the new lateness penalties, there are traditional penalties your club should avoid by submitting a fully completed budget:

1) Budget Proposals not hole-punched – 5-10% penalty 2) 4 copies not submitted – 5-10% penalty3) Budget not typed (handwritten) – 15% penalty 4) Missing an Advisor’s or President’s signature (both individuals must sign budget proposal) – 15% penalty5) Missing a scheduled justification hearing (mandatory when proposing $2,500.00 or more) – 25% penalty6) Missing pages – 25% penalty (the budget may be rejected all together if too many pages and too much information is missing)7) Other (bad math, forgery, etc.) (% penalty at FAC discretion)8) If no representative, primarily Club President and Club Treasurer, is present at one of the budget informational sessions – 5-10% penalty.

Points to Keep in MindExpenditures not to include in your budget proposal

Any trips/conferences costing over $300.00 or any speakers over $500.00 cannot be included in your club’s budget proposal. You will have to submit funding for these trips/conferences/speakers next year through the “special request fund.” For further information email the Financial Affairs Committee at sgafac@xavier.edu

Club expenditures not funded by SGA (through any process):1) Donations are never to be funded because it is money leaving the circulation of the student body2) Service projects are only to be funded for service-based clubs (clubs that revolve around service as their mission)3) Homecoming Banners/Expenses4) Shantytown & Adopt-a-Family (considered service donations)5) The purchase of alcohol6) Club Day on the Mall materials 7) Food is generally not funded; clubs are allowed two (2) social events per year which can be funded by SGA (usually some sort of banquet)8) Fundraisers and fundraising start up costs9) T-shirts

Points to Keep in MindYour Club’s E-mail

Advisor, 06-07 Rep, and 07-08 Rep E-mail Addresses are Very Important

After Senate approves Club Budget Allocations in April, Financial Affairs Committee will e-mail your organization the final amount determined for your 07-08 allocation. A letter will be e-mailed to your organization’s advisor, 06-07 representative, and 07-08 representative. These e-mail addresses will be taken from Part I of your budget proposal, so make certain to type them accurately.

Please be sure that your club/organization checks its mailbox, which is located in Gallagher 210.

Points to Keep in MindClub Activation Forms

Club Activation Forms should be submitted by October 15, any received after this date are subject to penalties at the discretion of the Financial Affairs Committee.

In order to guarantee that your organization will receive its funding and maintain SGA club status, make certain to complete a Club Activation Form at the start of the 07-08 school year. Please be certain to return your Club Activation Form to the SGA office (GSC 210) during the first few weeks of school (no later than October 15). Without this form, SGA has no method of knowing your organization’s leadership or its very existence. Until the form is submitted, your funds will be withheld. If by October 15 your organization has not completed and submitted a Club Activation Form, its club status is jeopardized and its allocated funds will be spent towards some other means that will better serve the student body.

Completing Part VI: Expenditure Justifications

Part VI: Justifies your club/organization’s projected programming and expenses for the year of which funding is being requested.

These listed justifications should follow after this example:6) 10/05 Copy Keys: $55.00 — We purchased two copy cards on October 4, 2004. This expenditure was presented on last year’s budget. We needed the two copy cards to post flyers advertising an upcoming speaker, Rebecca Charleston, who spoke about Junior High education. The flyers attracted a respectable amount of attendance at Ms. Charleston’s speech, and expanded Xavier students’ understanding of high school teaching techniques.

Questions & Closing Reminders

Please feel free to ask any questions now, or at a later date by contacting the Financial Affairs Committee, or any member of Senate at 745-3094 or sgafac@xavier.edu.

Before you leave this meeting, sign for your club’s attendance

TURN IN YOUR CLUB BUDGET NO LATER THAN FEBRUARY 19, 2007 IN THE SGA OFFICE.