SGA Budgeting Process

A. All money remaining in all the SGA fiscal accounts from the previous fiscal year, including club accounts, excluding the club’s fundraised accounts is reclaimed by the SGA. This money will then be placed into SGA Rollover account SG9019. This money will not be included in the SGA budgets for the following year, but may be spent or allocated at the SGA’s discretion.

B. The projected enrollment figure for the following academic year is multiplied by the amount of the student activity fee that is reserved for the SGA, in order to equal the entire total of the SGA budget.

C. 5% of the enrollment figure is placed in the SGA Reserve Account SG9010

D. The remaining funds will be dispersed as follows:
a. 16% of the remaining funds shall be placed in SG9195 for use by the Senate
b. 21% of the remaining funds shall be placed in SG9120 for SGA operational spending
c. 63% of the remaining funds shall be reserved for the Finance Committee and be divided according to the following:
i. 80% shall be placed in SG9015 for Club Budgets
ii. 12% shall be placed in SG9016 for Contingency Funding
iii. 7% shall be placed in SG9017 for Fundraising Loans
iv. 1% shall be placed in SG9018 for New Club Budgets

Section 1: Committee Bylaws

A. The Finance Committee of the Student Government Association (SGA) of Central Connecticut State University (CCSU) shall be designated with the task of dispersing Student Government Association monies in financial accounts SG9015, SG9016, SG9017, and SG9018 that are funded from the student activity fees.

B. Recommendations made by the Finance Committee may be overturned or amended by a majority vote of the Student Government Association.

C. Eligibility to be a voting member of the committee is reserved exclusively for currently elected and serving members of the Student Government Association. Non-senators may attend meetings, but may not vote.

D. The committee shall have a total of nine voting members, in addition to the non-voting chairperson, with a quorum of six members.

E. The Chairperson of the Finance Committee shall be the active Treasurer of the Student Government Association. The co-chairperson of the Finance Committee shall be elected by the Senate.

F. Only officially university-recognized clubs, whose membership is non-selective, shall be eligible for base budget funding from the Finance Committee. Non-recognized clubs and organizations may not petition for a base budget.

G. The Finance Committee shall meet once a week to discuss, and make recommendations to the SGA Senate about club budgets, contingency funding, fundraising loans, finance bylaw revisions, new clubs as well as any other germane topics. They may however; make specific operational guidelines for the current year, providing they do not conflict with previously established guidelines.

H. The Finance Committee will audit the fiscal accounts of at least eight clubs a semester. They retain the right to audit any club’s fiscal accounts at any time. Unsatisfactory findings in a club’s audit may result in disciplinary action to be determined by the Finance Committee.

I. The Finance Committee’s money shall be dispersed into sub-accounts by the following percentages:
a. 80% of the money shall be reserved for Club Budgets in SG9015
i. After club budgets are allocated, any remaining money from this account shall be used at the Finance Committee’s discretion
b. 12% of the money shall be reserved for Contingency Funding in SG9016
c. 7% of the money shall be reserved for Club Fundraising Loans in SG9017
d. 1% of the money shall be reserved for New Club Budgets in SG9018
Section 2: Club Budgets

A. During the spring semester officially recognized clubs must submit a club budget request proposal to the SGA requesting all desired funds for the following academic year. Budget proposals must be signed by each club’s Treasurer, President, faculty advisor and/or their Student Activities/Leadership Development (SA/LD) advisor.

B. The deadline for submission of Club Base Budgets will be determined by the current serving SGA Finance committee allowing the appropriate amount of time for base budgets to be received, processed and reviewed with recommendations made by the Finance committee to the SGA Senate before the newly elected senate is sworn in.

C. The currently serving finance committee will review all club budget proposals and make funding recommendations.

D. Budget recommendations may then be submitted to the newly elected Executive Board of the SGA for fairness and consistency in regards to the constitution and finance by-laws. The Executive Board then has the power to propose changes to the Finance Committee’s recommendation for a club’s budget. The Executive Board must present their proposed changes to the Finance Committee where they will be voted upon by the regular voting members of the Finance Committee.

E. Once the Executive Board has reviewed, and possibly altered, the budget recommendations, they will be introduced to the floor of the newly elected SGA for approval.

F. Final allocations will be presented to the SGA at a date no later than the last regular meeting of the present elected SGA in the spring semester.

G. Club Budget Restrictions
a. The SGA will only fund conferences in which some educational value is gained
b. The SGA will not fund food for regular club meetings.
c. Clubs will be responsible for abiding by all University and State Comptroller guidelines.
d. Club base budget allocations will not exceeded $50,000.

H. During the fiscal year, clubs may submit line item change requests to reconsider specific allocations within their original club budget request. All line item changes will be considered by the senate.
a. In the event that a line item change is rejected, the senate reserves the right to retrieve the funds from the club’s budget.

Section 3: Contingency Funding

A. Recognized clubs reserve the right to petition the Finance Committee for contingency funding throughout the academic year, providing that funding is available.

B. In order to receive contingency funding from the Finance Committee, a club will be asked to fill out required paperwork, answer standard funding questions, provide evidence of the prices of desired items/events, and make a formal presentation to the Finance Committee requesting a specific amount of funding.

C. Prior to petitioning the Finance Committee for Contingency Funding, clubs will be required to fundraise 10% of the total amount of their total request.

D. Contingency Funding Restrictions
a. Requests must be made for items/events that could not have been foreseen at the time of their club budget request.
b. A club may not petition the Finance Committee for any portion of their club budget proposal that was not approved.
c. The SGA will only fund one conference per club per academic year with contingency funds.
d. SGA will not fund food for regular club meetings..
e. Clubs will be responsible for abiding by all University and State Comptroller guidelines.

E. Contingency Funding Requests greater than $6,000.00 must be referred to the full senate.

Section 4: Fundraising Loans

A. Clubs reserve the right to petition the Finance Committee for a fundraising loan throughout the academic year, providing that funding is available.
B. In order to petition the Finance Committee for a fundraising loan, a club will be asked to fill out required paperwork, answer standard funding questions, provide evidence of the prices of desired items/events, and make a formal presentation to the Finance Committee requesting a specific amount of funding.

C. Clubs shall have two fiscal accounts:
a. The first shall be for all money allocated from the SGA Finance Committee for their club budget, contingency funding, and fundraising loans.
b. The second fiscal account shall be for all other money collected by the club. This includes net fundraised money, donations, etc. All money from this account that is not spent shall roll over into the following fiscal year.

D. Fundraising Loan Restrictions
a. A “fundraiser” shall be defined as having the expected revenue to clearly exceed the cost of the fundraiser itself.
b. A club may not petition the finance committee for any portion of their club budget proposal that was not approved.
c. A fundraising loan must be paid back to the Finance Committee after completion
d. If a fundraiser is unsuccessful in paying for itself the Finance Committee reserves the rights to investigate the circumstances of the fundraiser, and to possibly implement disciplinary action at its discretion.

E. Requests greater than $1,500.00 must be heard by the full senate.

Section 5: New Club Budgets

A. New clubs officially university recognized, as well as re-activated clubs, reserve the right to petition the Finance Committee for a club budget.

B. New and re-activated club budget proposals may not exceed $500 and must be submitted by March 1st in order to be considered, providing that funding is available.

C. New and re-activated clubs are eligible to petition the Finance Committee for a fundraising loan, but may not petition for Contingency Funding.

D. The Finance Committee will review all club budget proposals and make recommendations.

E. Budget recommendations may then be submitted to the Executive Board of the SGA for additional review. The Executive Board then has the power to propose changes to the Finance Committee’s recommendation for a club’s budget. The Executive Board must present their proposed changes to the Finance Committee where they will be voted upon by the regular voting members of the Finance Committee.

F. Once the Executive Board has reviewed, and possibly altered, the budget recommendations, they will be introduced to the floor of the newly elected SGA for approval.

G. New Club Budget Restrictions
a. The SGA will only fund conferences in which some educational value is gained.
b. The SGA will not fund food for club meetings.
c. Clubs will be responsible for abiding by all University and State Controller guidelines