FY17 Budgeting Workshop
01/27/2016 – 01/28/2016
Waterman Memorial Lounge, 7:00 PM
OUTLINE

Timeline

Tier System

Creating your budget request

Categories of budget request

Budget submission instructions

Hearings

Inventory Sheet, Contractual Agreement, Club Roster, and Survey

Summary
Timeline
January 27 and 28, 2016 Budget Workshop (one session MANDATORY for all treasurers)
February 5, 2016
Budget Requests are due. Please follow all guidelines for submission found on
uvm.edu/sga. No late submissions will be accepted.
February 6, 2016
Budget hearings begin. These appointments will be made by the Finance Committee with
each club as it deems fit.
February 26, 2016
Budgets emailed to club-signers for review.
February 29, 2016
March 15, 2016
Appeals Process Begins
Budgets sent to SGA Senate for approval.
April 15, 2016
All summer financial paperwork due to the Finance Office.
May 4, 2016
Spending for School Year 2015-2016 (FY16) will close for all organizations unless a written
request is given to the SGA Treasurer.
June 10, 2016
SGA Finance Office will close all FY16 spending.
June 30, 2016
End of Fiscal Year 16
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 supplemental allocations
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
HOW TO CREATE YOUR BUDGET
REQUEST

Materials available at www.uvm.edu/sga

Shortcut on right to budget materials
HOW TO CREATE YOUR BUDGET
REQUEST

Look at the categories before you begin

Fill out summary page

Requests on tabs only!
HOW TO CREATE 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 FY17
Other
ALLOCATION RATES

The Finance Committee will allocate UP TO:

$1,000 for airfare for 2 club members ONCE a year

$90 a day on van rentals


SGA rate = $70
$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)
HEARINGS

REQUIRED for requests > $20,000 (Tiers 1 & 2)

Optional for all others!

Sign up sheets available now and in SGA January 29th
– February 5th

Hearings February 6th and 7th
Inventory

Required for all clubs


If none, submit with “none”
List all assets worth $50 or more

Includes cumulative value
ROSTER

Required for all active club members
Contractual Agreement
SUBMISSION

ALL DUE BY 3 PM February 5th, 2016


Emailed to SGA.Finance@uvm.edu

Budget Request (saved as ClubName_Budget_FY17)

Food Request (saved as ClubName_FoodBudget_FY17)

Inventory Sheet (saved as ClubName_Inventory_FY17)

Roster (saved as ClubName_Roster_FY17)
Printed, Signed and Turned in to Sara in SGA Office

Contractual Agreement
Late Submissions will not be Accepted
UPDATES
• Update us on Club-Signer Changes
• Foundation Campaigns
• Transaction Reports
• Update from President Maulucci
QUESTIONS?