SGA Financial Policies
The
budgets allocated to all clubs, residence halls, and
organizations are made up of money from the student
activity fee. Therefore, these groups must use their
allotted funds in such a way as to benefit the Skidmore
community, not promote any exclusive or personal gains.
In order to uphold this philosophy, several guidelines
have been established. The scenarios addressed below
do not account for every possible financial concern
that may arise throughout the fiscal year, therefore
the Vice President for Financial Affairs should be consulted
whenever questions arise that are not addressed below.
Quick Links: Online Forms in .pdf format
Budgeting
Every club/organization’s annual budget
is approved by Senate during the preceding spring semester.
The budget is derived through a method of shared responsibility
between Senate and the Senate Budget and Finance committee,
which consists of 5 senators, the VP for Clubs and Organizations
and is chaired by the VP for Financial Affairs. In the
Spring clubs apply for their budget and initially meet
with the Budget and Finance committee. After meeting
with all clubs applying for a budget, the Budget and
Finance committee balances the budget and thus recommends
the budget to be passed by the Senate. The Senate passes
the entire budget and has the authority to make changes
to the Budget and Finance committee’s recommendations.
ANY CLUB/ORG MAY ATTEND SENATE AND DISPUTE THE AMOUNT
GRANTED TO THEM BY THE BUDGET AND FINANCE COMMITTEE.
How to Spend Funds Allotted
to a SGA Club or Organization
All moneys have been allocated according to
a budget request submitted during the preceding academic
year. Every dollar has been allotted for a specific
purpose. Therefore, these dollars must be used for that
purpose, unless a change in the club’s line item
budget has been approved by the Vice President for Financial
Affairs. Those changes must be submitted in writing
to the VP before a check request is made. If you do
not know what specific items for which your club or
organization has been budgeted, a copy of your line-by-line
budget can be obtained through the VP for Financial
Affairs or in the Leadership Activities Office on the
3rd floor of Case Center.
Division of a Club/Organization
Budget
A club’s budget will be divided evenly
into two semester budgets. Therefore, if a club or organization
wishes to spend more during the fall semester than the
spring semester, it may petition the VP for Financial
Affairs for this privilege. A club that spends all of
its Spring money in Fall will not therefore have funds
left to use in the Spring therefore think your financial
requests through carefully.
Supplemental Budget
Requests
In the event a club needs additional funding
to carry out their programming "supplemental budget
requests" are available in the Leadership Activities
Office. These requests are brought before the senate
Budget and Finance committee, which may make a recommendation
to Senate to allocate additional funds to a club budget
for a specific purpose. In order for clubs to meet with
the Budget and Finance committee to discuss their requests
they must contact the VP for Financial Affairs to be
added to the Budget and Finance meeting agenda. Requests
MUST therefore be submitted at least two weeks before
the money is needed so as to allow time to meet with
the Budget and Finance committee. In the event the Budget
and Finance committee grants a supplemental request
the allocation must then be approved by the Senate at
its next meeting. A representative from the club requesting
the supplemental must be present at that Senate meeting.
Fundraising
Each club has the right to fundraise money
to supplement any existing line in the club’s
line-by-line operating budget. Money raised is to be
deposited into the club account through the SGA bookkeeper
in the Leadership Activities Office. Deposits cannot
be completed without a “line” designation.
If a club wishes to fundraise for a purpose not already
established as a line in the existing club line-by-line
budget, the club can create such a line through the
SGA VP for Financial Affairs. Creation of the new line
is at the discretion of the VP for Financial Affairs.
It is the responsibility of the club treasurer to keep
an accurate record of all deposits. All money a club
fundraises must be deposited as stated above. Failure
to deposit club funds appropriately is a violation of
the Skidmore College Honor Code. The VP for Financial
Affairs can address such violations by freezing club
accounts and bringing the violation to the Skidmore
College Integrity Board.
Deposits, Withdrawals,
and Reimbursements
If your club wishes to raise funds for a charity
organization and is planning to generate money that
will eventually be donated, the money must be deposited
into your club account first. The funds may then be
immediately withdrawn after subtracting any expenses
related to the fundraising effort but the money must
be circulated through the club account.
To make a withdrawal several things are necessary:
• The desired money must appear on the line item
budget passed by senate the previous spring.
• The appropriate form, located in the Office
of Leadership Activities, must be filled out and signed
by the clubs treasurer.
• Any contracts necessary for the purchase must
have been filled out in the manner listed herein.
• For any reimbursement, APPROPRIATE, LEGITIMATE
RECEIPTS MUST BE FURNISHED. These receipts must be from
the current academic school year, and must clearly state
the purchased product, along with its price. Credit
card receipts ARE UNDER NO CIRCUMSTANCES legitimate
substitutions for a receipt acquired from a place of
business.
It is very common to have a club
member pay for something with his/her own money with
the intent of bing reimbursed at a later date. In all
cases the club treasurer must produce a receipt, less
than 60 days old and the funds must be available as
stated in the clubs line item budget. As long as it
fits into the previously mentioned parameters, SGA
will reimburse the cost of an itme that was in the club's
budget with two exceptions.
1. Meal Allotment - When
traveling for club purposes SGA, through the organizational
budget, will reimburse members for meals up to $20
per day per person. Receipts are required for reimbursement.
2. Mileage Reimbursement
- Club members can be reimbursed, through their organizational
budget, for miles accumulated on a car when the car
is used for club purposes. The current reimbursement
rate is 40.5 cents per mile and may be charged to
the club's travel/transportation line. The club treasurer
must submit a completed Mileage Reimbursement Form
to the Leadership Activities Office for approval.
In order to save club funds, occasionally groups may
determine the rate of mileage reimbursement should
be smaller than the current reimbursement rate. In
that case, the Mileage Reimbursement Form is still
required with a notation made indicating the lesser
amount is being paid. Gas receipts can only be submitted
for reimbursement when rented vehicles have
been used.
All monies generated must be deposited
in the Leadership Activities Office on the next business
day after the event or activity. Checks will be signed
by the VP for Financial Affairs twice weekly (days/times
to be posted in the Leadership Activities Office) at
the beginning of each semester.
Discipline Involving Financial
Matters
It is the role of SGA Executive Board to oversee
the manner in which the officers of the club’s
and organizations conduct themselves. Therefore, if
an officer of a club or organization consistently breaks
SGA rules, they may be removed from office by the Executive
Board, and/or recommended to the Integrity Board for
disciplinary action. In addition, if for any reason
the VP for Financial Affairs feels that a club is spending
its money irresponsibly, is not working in accordance
with SGA financial policies, or lacks a treasurer and
president, she/he may freeze the funds of the club.
In that case, the officers of the club may not access
any of the clubs money until they have resolved whatever
problem exists.
Contracts With Outside
Parties
When a club or organization hires the services
of a band, speaker or any sort of outside entertainment,
a contract is needed to cement the arrangement. CLUB
OFFICERS DO NOT HAVE THE AUTHORITY TO ENTER INTO A CONTRACT
WITH AN OUTSIDE AGENCY WITHOUT THE SIGNATURE OF THE
ASSOCIATE DIRECTOR OR ASSISTANT DIRECTOR OF LEADERSHIP
ACTIVITIES. Individual students who enter into a contract
on behalf of SGA and Skidmore College with an outside
agency put themselves at great legal risk if the outside
party decides to take legal action. By contracting through
SGA and the College, a club or organization’s
event is covered by the College’s insurance, and
therefore protects individual members in case of an
emergency. Contracting with an outside agency can be
tricky, and that is why the Leadership Activities Office
exists, so use them in this process.
Budget Carryover Requests
Occasionally circumstances may arise when
a club has money left in their budget at the end of
the fiscal year. In the fall of the next academic year,
the organization may apply for a Budget Carry-Over.
The incoming VP for Financial Affairs, along with the
Budget and Finance Committee will review applications
and then make a recommendation to the Senate for approval.
Forms are available in the Leadership Activities Office.
Balances
An exact balance of your club's account can
always be acquired through a visit to the Leadership
Activities Office.
SGA Restrictions
for Club Funding
SGA WILL NOT PAY FOR THE FOLLOWING:
• Club uniforms for any sort of club.
A club may therefore only buy uniforms with money obtained
through individual fundraising efforts. As for certain
types of equipment, sports clubs might be required to
purchase equipment that is necessary to play the sport.
In most cases "equipment" that is purchased
by SGA does not include protective gear to be worn during
play (for example, SGA will buy hockey nets, but not
helmets).
• Any events that are NOT OPEN TO THE COLLEGE
COMMUNITY.
• Any end of the year dinners, banquets, or parties
unless it is consistent with the club or organization’s
charter.
• Alcoholic beverages unless it is consistent
with the club or organization’s charter.
• Senior Gifts
Funding For New Clubs
A new club or organization chartered at a point
in the year which does not allow them a budget through
the annual process, may apply to get a $200.00 start-up
budget, working with the VP for Financial Affairs and
Budget and Finance Committee.
Tax Exemption
Your club is tax-exempt! When purchasing anything
in your club or organization's name, you may receive
the benefit of tax-exempt status, that is you need not
pay sales tax. You may make use of this benefit by presenting
an off-campus establishment with a tax exempt form.
They are available in the Office of Leadership Activities.
You will not be reimbursed by SGA for any taxes
paid!
Revised 9.15.2005 |
