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?