FY18 Budgeting Workshop 1/25/17 – 1/26/17, 7:30 pm Jacquelyn Langham, Treasurer Jake Guarino, Finance Chair

Outline Timeline Tier System Creating your budget request Categories of budget request Budget submission instructions Hearings Appeals Process Inventory Sheet, Contractual Agreement Summary

Timeline January 25 and 26, 2017 February 3, 2017 February 4, 2017 Budget Workshop February 3, 2017 Budget Requests are due February 4, 2017 Budget hearings begin. Appointment will be made by the Finance Committee with each club as it deems fit. February 24, 2017 Budgets emailed to club-signers for review. February 27, 2017 Appeals process begins. March 21, 2017 Budgets sent to SGA Senate for approval. April 13, 2017 All summer financial paperwork due to Finance Office. May 5, 2017 Spending for School Year 2016-2017 (FY17) will close unless a written request is submitted to the SGA Treasurer. June 9, 2017 SGA Finance Office will close all FY17 spending. June 30, 2017 End of Fiscal Year 17.

Maximum Budget Request % of Requested to Fundraise Tier System Tiers are determined based on the AMOUNT REQUESTED by the club Tiers dictate the amount that a club must fundraise Includes budget AND General Supplemental requests Tier Maximum Budget Request % of Requested to Fundraise Tier 1 $50,000+ 15% Tier 2 $20,000 - $49,999.99 10% Tier 3 $5,000 - $19,999.99 8% Tier 4 Under $5,000 5% Tier E No Budget Request Must fundraise all funds

Purpose of Tier System Maintain control of budget inflation Accurately allocate funds based on need Increase responsibility of spending Promotes financial sustainability

How to create your budget request: Materials available at www.uvm.edu/sga under “Club Resources” Shortcut on right sidebar of SGA homepage

Creating your budget request Look at the categories before you begin Fill out “Summary” tab where indicated Request on tabs only

Creating your budget request Do NOT change the formulas Discuss with future leaders Be realistic Use current year expenses Use notes! Explanations Calculations Prioritize

Categories of the budget request Wages: For contracted employees (i.e. coaches…NOT referees) Services and Honorarium: For invoiced or billed services Travel: Hotels, vans, and buses Events: Hosted by the club (i.e. workshops, seminars, tournaments) Registration: Entry fees, dues, and registrations Equipment Capital Funding Projects: let us know if you have large purchases coming up and will be planning on using capital funding in FY18 Other: Expenses that do not fit the previously listed categories (i.e. facility rentals)

Allocation Rates The Finance Committee will allocate UP TO: $1,000 for airfare for 2 club members ($500/member) ONCE a year $90 a day on van rentals SGA rate is $70/day $120 for a hotel room for 4 people/night

What NOT to Request Fundraising activities Food (unless waiver granted) Gas Uniforms Nationals/Qualifiers Student Hires (without consulting Finance Office)

Inventory Required for all clubs List all assets worth $50 or more If none, submit with “none” List all assets worth $50 or more Includes cumulative value

Contractual Agreement

Late Submissions will NOT be Accepted All forms due by 3PM February 3rd, 2016 Emailed to SGA.Finance@uvm.edu Budget Request (saved as ClubName_Budget_FY18) Food Request (saved as ClubName_FoodBudget_FY18) Inventory Sheet (saves as Club_Name_Inventory_FY18) Printed, Signed and Turned in to Sara in SGA Office Contractual Agreement Late Submissions will NOT be Accepted

Hearings REQUIRED: for requests >$20,000 (Tier 1 & 2) Optional for all others Sign up sheets available now and in SGA February 1-3 Hearings will be on February 4th and 5th

Appeals Process Reasons to appeal: How to Appeal: If club feels the SGA Financial Policies were not followed Feels that the FC misinterpreted a financial request The allocation was unjust in any way How to Appeal: A formal appeals letter must be sent to the Finance Chair (Jake Guarino) by March 1st at the latest A hearing will be scheduled to review the allocation in question

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