BUDGETING 2016

What is it? Setting budgets for school year Fiscal year is July 1 st through June 30 th All chartered orgs, HUSC Executive Board, conference, contingency, and challenge grant

Who Makes the Decisions? The HUSC Economic Affairs Committee is responsible for Budgeting Including the EAC Chair and Treasurer, there are seven members on this committee The SOC Chair sits in during the proceedings but is not a voting member

Budgeting Timeline Budgets Due: March 3 at 3pm Budget Decisions: March 6 th -12th Appeal Dates March 15 th March 22 nd Proposal of Student Fee April 18 th (tentative)

What do I need to submit? Cover Letter Budget Worksheet Justifications

Cover Letter Successes: Large activities, recruitment, initiatives etc. Shortcomings & Setbacks: What needs improvement or additional effort? Current Budget: Address your current budget and how you spent, did not spend, or plan to spend it. Special emphasis should be put on how you plan to spend your remaining funds for this year; this is a key indicator EAC uses to determine your budget for next year. Changes? (Did anything significantly change about the org that the committee should be aware of? Any significant changes you feel would be relevant to the process.) Anything else that you feel is relevant to the consideration of your budget

Budget Worksheet The worksheet is the centerpiece of the budget application Four line items: Recruitment, Supplies, Food, and Programming Option of circling the minimum for automatic 75% of last years funding

Justifications An annotated breakdown of what you plan on spending your funds on over the course of the year.

What the Budgeting Committee Looks for Success of organization and programs Preparedness and foresight into their organization’s strength Current and past spending Strength of new events Compliance with EAC guidelines Reasonability of the budget request in relation to student fees In general…the more information, the better

If I don’t submit a budget…? After March 3 rd at 3pm, you will receive a warning if you have not submitted a budget If a budget is not submitted by March 5th at 7pm, you will receive a maximum of 50% of your budget the previous year (this cannot be appealed)

Where does the money come from? The student fee Total budget/anticipated student enrollment=Student Fee Cuts in the budget don’t profit HUSC, they lower the fee we pay Possibility that you receive less money due to decrease in enrollment What’s the most effective use of student money?

How do I appeal? If you wish to appeal your budget decision: Racey Rodne, VP, about intent to appeal to GA All appeals take place during HUSC GA in GLC 100E at 11:30 am. A two thirds vote of the HUSC roll-call is needed to overturn the decision of EAC

Final Note The conference, challenge, contingency and capital improvements all have funds still available for use!

Contact Information Cloe Gray, EAC Chair Office Hours Thursdays 8:30-9:30am, 11:30am-12:30pm, 4pm-5pm or by appointment Rachel Thompson, Treasurer Office Hours: 3-6pm on Mondays or by appointment