FY16 Budgeting Workshop 01/20/2015 – 01/21/2015 Lafayette Hall L108, 7:00 PM

OUTLINE  Timeframe of budgeting season  Tier review  Creating your budget request  Categories of the budget request  Budget submission instructions  Hearings  Special circumstances  Other paperwork: Contracts, Inventory Sheets, and Club Info Sheet  Summary

BUDGET PLANNING FOR FISCAL YEAR 2016 January 21/22, 2015 Budget workshop (ALL TREASURERS MUST ATTEND) January 30, 2015Budget requests and supporting documents due by 3 pm. No late submissions February 7, 2015Budget hearings begin February 27, 2015Budgets posted for club review March 9, 2015Budget appeals begin March 24/31, 2015Budgets to Senate for approval July 1, 2015Fiscal Year 2016 begins

REVIEW OF THE TIER SYSTEM  Tiers are determined based on the AMOUNT REQUESTED by the club  Tiers dictate the amount that a club must fundraise TierMaximum Budget Request % of Requested to Fundraise Tier 1$50,000+15% Tier 2$20,000 - $49, % Tier 3$5,000 - $19, % Tier 4Under $5,0005% Tier ENo Budget RequestMust fundraise all funds

GOALS OF THE TIER SYSTEM  Maintain control of budget inflation  Accurately allocate funds based on need  Increase responsibility of spending

HOW TO CREATE YOUR BUDGET REQUEST  Materials available at  Look at the categories before you begin  Fill out info in the summary page – this makes it more efficient for us!  Do NOT change the formulas  Talk about your goals for the upcoming school year with your club members  Be realistic!

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: For events hosted by the club (i.e. workshops, seminars)  Registration: Entry fees, dues, and registrations  Equipment  Other

ALLOCATION RATES TO KNOW  The finance committee will allocate UP TO:  $1,000 for airfare for 2 club members ONCE a year  $90 a day on van rentals  $120 for a hotel room for 4 people for one night

BUDGET SUBMISSION INSTRUCTIONS ALL BUDGETS MUST BE ED TO BY 3:00 PM ON FRIDAY, JANUARY 30, Requests should be named: ClubName_Budget_FY16

HEARINGS  Hearings are REQUIRED for clubs requesting greater than $20,000 (tiers 1 and 2)  Sign up sheets will be available in SGA 9 am – 3 pm on February 4 th and 5 th  Hearings will be held February 7 th and 8 th  All clubs are allowed and encouraged to have hearings to help the committee know your specific needs

SPECIAL CIRCUMSTANCES  Food Budgets must be submitted at the same time as the budget submission (where applicable, you know who you are)  Capital Funding Projects: let us know if you have large purchases coming up and will be planning on using capital funding in FY16

OTHER PAPERWORK  ALL PAPERWORK IS DUE BY 3 PM ON JANUARY 30, 2015  Inventory sheet –must to If you have no inventory, you MUST fill out and note NO  Do not need to note items worth LESS than $50  Contractual agreement – must PRINT and submit to Sara. Make sure you have all required SIGNATURES (not printed names, this is a contract)  Give your advisor a head’s up that you will be coming for their signature  If your advisor is away, you must have a temporary advisor  Club information sheet – done on the LYNX ( link available on SGA websitewww.uvm.edu/clubs

SUMMARY OF BUDGET SUBMISSION FY16 BUDGET REQUESTS AND ALL ASSOCIATED PAPERWORK ARE DUE JANUARY 30, 3 PM  Budget requests must be ed to (as well as food budgets, if  Club inventory sheet MUST be filled out and submitted to  Contractual agreement must be PRINTED and returned to Sara at the front desk with all signature lines completed  Club information sheet should be completed on the lynx Late submissions will not be accepted

QUESTIONS?