Student Congress begins discussions about organization budget
Representatives were given a slip of paper with the amount of money they had left in their account, the money they should expect to receive for the year and the final total after deductions. Specific groups’ budgets weren’t discussed at the meeting, and the groups didn’t receive any budget cuts that were not a result of the way the organization used its money last year.
"Deductions only happen if there are missing forms, if the group has missed meetings or if they are not correctly spending their money," Echols said.
The budget process is split into three groups, divided up by how much money the groups receive. Groups receiving $1,000 or less are responsible for a cover letter, any allocation requests, a general ledger and receipts. The groups receiving $1,000 to $5,000 are in addition responsible for a winter audit, explanation of each item for budget allocation and an account summary. The groups receiving $5,000 or more are also responsible for attending a spring meeting with the financial committee.
Organizations are currently responsible for keeping track of all transactions in their general ledger, keeping copies of all receipts and keeping track of all business office forms such as check requests or reimbursements. Reimbursements are given when someone uses his or her own money to pay for items used by the organizations as well as in the case of travel, when gas would need to be reimbursed.
All organizations currently have access to their financial accounts. Any groups that are created after the year has started can request a start-up budget from Student Congress.
Groups that wish to have their activities posted on TheFranklinonline.com can contact communications director Samantha Parker at sparker@franklincollege.edu.
On Wednesday night Student Congress met with representatives from each campus organization to discuss how much money they’ll get and how they’ll keep track of the money they use.
A total of $95,000 is set aside for student organizations this year. Each organization is assigned a budget in order to provide the financial backing necessary to host and organize activities across campus.
According to Stephanie Echols, the Student Congress treasurer, organizations receive a set budget for each year and only get docked if their account is positive or negative.
If an organization uses more money than they’re allotted they will receive less money the following year to make the account even.
But if an organization didn’t use all the money they got the previous year, their budget is also deducted so the money can go to other organizations that will use it.
If an organization’s budget is $1,000, but that group only spends $900, then the following year, that group’s budget will start at $900. That means each organization is encouraged to spend all the money it receives, said Keri Ellington, the student activities director.
Groups have the option of requesting more money from Student Congress. The organization’s treasurer would fill out an allocation request listing how much they need and why. Then, the group has to keep its receipts.
"We spent all of our money – we had negative one dollar at the end of last year," said Ellie Farmer, who represented College Mentors for Kids.
