The Ins and Outs of Student Senate Funding. Treasurer: Kevin Piotrowski

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1 The Ins and Outs of Student Senate Funding Treasurer: Kevin Piotrowski

2 Acquiring Funds: Step 1 Become part of a Registered Student Organization (RSO) on campus

3 Acquiring Funds: Step 2 Review our Financial documents that include the Precedent & Code of Finances located on the Senate website.

4 Acquiring Funds: Step 2 Submit a FAB petition form located on our website

5 FAB Petition Form Information you will need: Name of Organization or RSO Date of filing Persons that will present List of items along with amounts Additional Comments

6 Acquiring Funds: Step 4 Await a response via from the Treasurer detailing the location, time, and date of your RSO s hearing Send 1-2 members of your RSO to the FAB hearing Information Be able to answer questions regarding request FAB meets on a weekly basis

7 Acquiring Funds: Step 5 (FAB Hearing) FAB is not scary! Be prepared to explain your reason for requesting funds Show that your event is well planned Handouts and presentations are greatly appreciated FAB is not there to deny funding requests, it simply interprets our financial documents and ensures your funding requests are within the rules

8 Acquiring Funds: Step 6 If the request approved is: Under $300.00, then the funds are available for immediate use Over $ then funds must be approved at the next full Senate General Assembly meeting

9 Using Allocated Funds When funds are approved, they are not given to the RSO. More so it is a guarantee that Senate will pay back the approved amount. RSO s front the money and are reimbursed EXAMPLE: $100 approved for event supplies for Happy Club. Happy club goes out and purchases event supplies. Keep any PROOF OF PAYMENT(receipts/online credit card transactions). Fill out a senate payment request form and attach all proof of payment. Put in Treasurer s mailbox. In the following weeks a check will be available in the Business Office for that amount.

10 Using Allocated Funds (Credit Card) For large ticket items such as airplane tickets, the Senate credit card may be used The credit card is only used as a last choice Consult with the Senate Treasurer

11 Using Allocated Funds (Hotel Reservations) The Senate card CANNOT be used for hotel reservations If an RSO cannot front the money a check must be mailed directly from IWU to the Hotel This must be done at least a month in advance

12 Using Allocated Funds (Gas) Gas is reimbursed on a mile per mile basis that the university uses Only one way is reimbursed Reimburses at 56 cents a mile Example: Driving to a conference in Chicago. Mileage to Chicago is 134 miles 134 X.56 = $75.04 *Attach Google Maps printout of route to payment request form

13 Reimbursement Fill out a Senate payment request form (located outside the Senate office or online) and put in the Treasurer s mailbox Attach all proof of payment (Reimbursement can not transpire without a form of proof of payment) Expect it to take 1-2 weeks for your money to be ready in the Business Office If you turn in all the correct document by a Thursday the check will be ready by the following Wednesday

14 Payment Request Form Found on Senate website under the Financial Advisory Board tab Need the following information: Who the check is payable to Amount IWU ID# of recipient If no ID the address and the SSN/ TAX ID # RSO Name Type of precedent category

15 Retroactive Funding RETROACTIVE FUNDING IS NOT TOLERATED IN ANY SHAPE, FORM, OR IDEA. What is it: Retroactive Funding is applying for Senate funds after the event/expense has already taken place.

16 Retroactive Funding is Hazardous to RSO Health

17 Retroactive Funding Examples Example 1: College Republicans have a speaker on Sept 17 th. They then apply for Senate funding Sept 20 th Example 2: College Democrats get a $ conference approved by FAB. They then go on the conference before the funds are approved by Senate (since it is over $300.00). The allocation is approved at the next Senate meeting.

18 Penalties If you retroactively fund your RSO will face penalties laid out in our governing documentation Penalties can include up to 1 full year of frozen Senate funds. A number of RSOs have had their funding frozen just last semester *If you receive penalties understand that it is not a personal vendetta by FAB or the Treasurer, we must treat all RSOs equally

19 How to Avoid these Problems Plan ahead!! (solves 90% of the problems) Secure funding at least a month in advance Set up a meeting with the Treasurer Ask if you do not understand the rules! Ask a member of FAB

20 QUESTIONS?

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