Budget and Finance Policies
i. Each organization is required to submit a completed Organization Registration Form to the Office of Student Activities no later than the 2nd Friday of classes. Each organization is required to have a constitution on file in Student Activities and a roster of members including: President, Treasurer, Publicity Chair.
ii. Each organization must indicate a faculty or staff advisor at the time of registration.
iii. Each is required to submit a reconciliation of all expenses, revenues, transfers made to the account no later than 5:00 PM on the last day of classes each semester. Failure to do so may result in a freeze to the organization's account.
iv. All recognized organizations are expected to fundraise and co-sponsor events.
v. Recognized organizations are prohibited from spending more than their available funds.
vi. Usage of funds for personal benefit is prohibited.
i. The following will be given priority in allocating funds:
-ASMC General Fund
-Junior Class and Senior Class
Recognized organizations, including lounges will receive a uniform budget. Amounts will be decided according to the total funds available.
ii. Before funding is allocated, presidents and treasurers of all recognized organizations must attend a financial workshop within the first 3 weeks of the semester.
iii. Organizations in good standing may submit a Special Funding Request to the Office of Student Activities. Proposals must include proof of fundraising, co-sponsorship, and the prudent use of funds. It must also be in accordance with all ASMC and College Policies. Organizations are required to wait until requests are approved before spending the funds.
i. To ensure no cash outlay overlaps, only recognized organization treasurers may request cash advances, petty cash, reimbursements and deposit funds.
ii. Cash advances must be liquidated before requesting another advance.
iii. If revenue is received, it will first be used to cover un-liquidated cash advances. All expenses are strictly for college events and supplies. Exceptions, such as outside donations, MUST be approved by the ASMC Executive Board prior to disbursement.
iv. Receipts, cash advance reconciliation and reimbursements must be turned in to the ASMC Treasurer no later than 5:00 PM on the last day of class each semester. No exceptions.
v. All contract invoices/billings must be received by the ASMC Treasurer no later than 5:00 PM on the last day of class each semester. No exceptions.
vi. Failure to adhere the deadlines may result in non-payment of expenses incurred.
i. Available funds will be used to answer all ASMC financial obligations incurred during the academic year. Excess amounts will be allocated to organizations, in percentage to their actual leftover funds.
ii. Recognized organizations may request a rollover of funds available in their accounts, subject to Executive Board approval, to the next academic year, no later than 5:00 PM on the last day of class each semester. Failure to do so by the deadline will result in an automatic transfer to the ASMC general fund.
iii. Requests for rollovers must include a full accounting of the organizations' financial activities for the year. Failure to do so may result in an automatic transfer to the ASMC general fund.
iv. Any organization failing to comply with any policy including expectations of fundraising and co-sponsorship may forfeit the rollover of their remaining funds.
v. Available funds from organizations that have been inactive for at least a semester will be returned to the ASMC general account.
vi. It is the responsibility of the organization, its officers and especially its treasurer to take note of deadlines and procedures.
Constitution (66k, pdf)
Special Funding Request Form (240k, pdf)
Credit Card Checkout (77k, pdf)