A Guide to a Successful Budget Process
Carnegie Mellon University
Student Body Vice President of Finance

What is the JFC?
• The Joint-Funding Committee (JFC) allocates student organization funding and oversees the budget making process.
Why is there the JFC?
• The JFC exists to help student organizations with their yearly budgets. It is their job to help you get what you need to succeed.

What is the Students Activity Fee?
• Funds collected from all full time students to be used for students activities that meet the needs of CMU students.
How much is the Students Activity Fee?
• $123/semester for Undergraduates
• $99/semester for Graduates
How much of the SAF does the JFC allocate?
• 90% Undergraduate SAF
• 30% Graduate SAF

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Understand your organizations’ finances
Help create the most effective budget for you org
Liaison between your org and the JFC
Advocate for your organization during JFC meetings
Student Body Vice President of Finance

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You are creating a budget for FY 16
FY 16 = Fiscal Year 16 = Fall ‘15 / Spring ’16
We are currently in FY 15
PERSEPCTIVE:
You are creating a working budget for your organization’s expected expenses and revenue, as if the JFC didn’t exist.
The JFC will then come in, review your budget, and figure out how much and which items we can subsidize for you.
Common Funding App
Line Item Changes
Student Body Vice President of Finance

JFC Rep Budget
Review
• Meet with JFC
Representative
• Walk through preliminary budget
Budgets Due
• Funding Module
• Budgets Due
JFC Budget
Review
• JFC Goes through every Budget
• JFC Recommended
Budgets
Appeals
Process
• JFC Appeals Due
• USS/GSA Appeals
Due
1/23 Feb-March 4/8 – 4/15
4/23

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Your budget is what you will be spending money on next year and how you plan to earn revenue to make those expenses.
The JFC exists to help subsidize SOME of those costs.
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What you should do to make the best budget

Categorize your budget
 Compare Budget Tracker Budget with your own bookkeeping
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Go over historic budgets and map out your next year.
 Make sure to update costs based on actual spending from the previous year.
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Divide up your costs and revenue.
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Figure out what you have spent money on in the past and where you get money from.
Decided if you need to make capital purchases.
 Reach out to your JFC Rep and the SBVPF!

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Student Body Vice President of Finance

Link to Appeals Information/Form
Student Body Vice President of Finance

Student Body Vice President of Finance

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The Bylaws and Rules of the JFC
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Speaker funds and Capital exist in a different location.
You MUST list speaker funds and Capital within your org budget, the JFC will appropriately subsidize costs, and the money will sit in the SBVPF account.
When you have a speaker event or purchase capital, reach out the SBVPF to get the subsidized money from their account. (This money is NOT in your org account)
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Student Body Vice President of Finance

 The JFC can fund:
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Lecture Fees
GBM Refreshments
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Charity Events
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Cultural Events
 Political Discussions
 Campus Events
 The JFC can’t fund:
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Student Salaries*
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Alcohol*
Charity Donations
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Religious Symbols
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Political Parties
 Academic Events

 The JFC has the right to not fund anything “not germane to the purpose of the group”.
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We do tend to interpret this more loosely. For Example:
 A service group is still allowed to hold social events to encourage members to bond.
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However, A service group focused on helping bring medicine to
Africa would not be allowed to go on an expensive trip to New
Zealand.

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Understanding our Process

 Goal is to provide consistency between different groups.
 The JFC funds the same amount for Hotel rooms, mileage cost, etc. no matter which group is being funded.
 Goal is to prioritize by campus impact.
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The JFC looks at how many students would be involved, its importance, etc. when determining how much the event should be funded.

 List of Funding Metrics
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Food
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Advertising
Travel
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Hotels
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Booth
 Buggy

 An organization that has not previously been JFC funded is limited to a maximum subsidy. This amount is determined in the JFC’s List of Funding Metrics.
 Any organization receiving JFC funding for the first time is considered a new group, even if you’ve been around for a long time.
 Reason(s): Need to prove club sustainability; New
Organizations should not become reliant on the JFC as their only source of funding.

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Adjusts line items to abide by metrics
Looks at past budgets & notes changes
Looks at past years’ actual spending (audit)
 Looks at deviation from budgeted expenses/revenue vs. actuals
Reads responses submitted forms and JFC Rep impression
Evaluates campus impact and needs & priorities of organization

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Explain all budget increases
 Be very descriptive
If you are adding new events/costs, explain their impact and why JFC should support them
Be able to explain all questions that arise from looking at your audit

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“The JFC Secrets”

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No question is too stupid, and each conversation strengthens your understanding of the fiscal process.
Update them know what your organization is doing.

 The JFC process is bias and unfair.
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False; it is transparent to those who want to know about it, and rewards those who put in the effort.
 The JFC enjoys cutting budgets
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False; we want orgs to succeed, but just have a finite amount of resources. Prove to us you’re the best investment and you will reap the rewards.

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Submit the Declaration of Intent
Attend a JFC info session
Meet with your JFC Rep once this semester and once before you submit your budget
Submit a budget by 1/23/15
Be aware of last minute questions/emails from your rep between 1/23/15 – 1/30/15
(if needed) Appeal in April

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Transitions
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If your organization is transitioning at the end of this semester or the beginning of the next semester bring both sets of leaders to the JFC meetings
Speaker funds
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The JFC zeroed out speaker funds for events for weren’t guaranteed to happen. Those funds were moved to the SBVPF’s budget
Capital Items
 Check your budget for items o-coded as “Capital Expense
Fund”

Visit http://www.cmu.edu/stugov/sbvpf/
Email me at sbvpf@andrew.cmu.edu