Budget Training Workshop ASI Financial Services Spring Semester - - PowerPoint PPT Presentation

Budget Training Workshop

ASI Financial Services Spring Semester 2020

Outline

 Budget Process  Club Accounts & Allocation Process  ASI Budget Request Packet  What not to include  Deadlines  Other Sources of Funds

Budget Process

 Be registered, approved, and in good standing with the Office of Student Life and Cultural

Centers (OSLCC) to be eligible for ASI funding.

 Attend Budget Training Workshop  Plan for all expenses & Complete the Annual Budget Request Packet  Submit the ASI Budget Request Packet to your Council  Budgets will be reviewed and approved by your council  Councils will submit budgets to Financial Services for final Review and posting, which takes

up two weeks.

 If your budget has an issue, you will be notified by a member of the ASI budget Team.

Please ensure you respond and coordinate on how to rectify the issue.

 Congratulatory email

Club Accounts & Allocation Process

Clubs have two accounts:

 Agency Account (3XXXXX) – Club Generated Deposits  ASI Account (17XXXX) – ASI Funding (can’t deposit into this account)

Clubs receive their ASI Funding in two phases:

 70% during Fall Semester 20% Fundraising  30% during Spring Semester

ASI Budget Request Packet

Budget Request Form (Cont.)

Amount Requested / Relined

 ASI Allocation: This line should be blank because your club has not yet received

an allocation for this year.

 Carryover: The remaining balance in your ASI account when preparing the

budget, taking into consideration any further spending that will be done in the current fiscal year. This will be a projection of any monies left over after 19-20.

 Fundraising, club dues, etc.: This is the amount you plan to fundraise

throughout the year. For presentation purposes, it will be 20% of your Total Expenses unless your Total Allocation is known. *Please note that you are only required to fundraise a minimum of 20% of the actual allocation from the council.

Budget Request Form

Amount Requested/Relined:

 Please use the amount

requested/ relined column for your new request.

Expenses:

 Each expense line item

represents how much your club will approximately spend throughout the year.

Profit & Loss Statement

Budget Request Form (Cont.)

Total Request

 Total Expense minus Total Income

equals Total Request. *This will be done automatically through excel formula. But double check to make sure.

Line Item Explanation Sheet

Income

Line Item Explanation Sheet (Cont.)

Expense

Expense Line:

 Please ensure that you have

a breakdown for each line

• item. (Double check that

your calculation of the expense is correct)

Responses to Questionnaire

What not to include

 Refreshments for General Meetings  Gift cards (Cash Equivalents)  Fundraising events or supplies used to generate additional income  Premiums for individual student health insurance, excess medical, and auto insurance, and group

liability/ group travel accident insurance

 Political & Religious Events  Salaries & Benefits for Staff or Faculty  Scholarships

Please reference ASI Financial Guideline & Stipulations for a complete list.

Deadlines

 The 20% of alternative funding.



Monday February 3rd , for FY 2019-20



Once the 20% has been met, release of the remaining 30% allocation will follow!

 Budget submission to councils will vary.



Check with your council!

 Councils must submit all club budgets to Financial Services.



Friday April 24th , 2020

Inability to meet the alternative fundraising deadline will result in the 30% allocation being withheld. Furthermore, your club will not be eligible to receive any additional funding from ASI or Councils.

Deadlines

• Agriculture Council – March 10th, 2020
• College of Education and Integrative Studies Council – March

17th, 2020

• College of Letters Arts & Social Sciences Council – March 10th,

2020

• Engineering Council – March 30th, 2020
• Environmental Council – March 16th, 2020
• Greek Council – March 2nd, 2020
• Hospitality Management Council – March 22nd, 2020
• Multi-Cultural Council – March 30th,2020
• Science Council – March 10th, 2020
• Student Interest Council - March 13th, 2020
• United Business Student Senate – March 13th, 2020

Clubs:

 Subject to change, check

with your council!

 If you don’t know what

council you belong too, please ask!

Other Sources of Funds on Campus

Administrative Fund

Mid-Year Budget Requests

 In order to be eligible for mid-year ASI funding, clubs are required to submit and

• btain funding approval for their Annual Budget from their council

 Mid-year budget requests shall not be submitted for retreats, banquets, or other

general club expenses.

 For student groups that submit a mid-year budget request to the ASI Finance

Committee and/or the ASI Senate, a maximum of $6,000 per group per year shall be funded, not to exceed $750 per person for a conference, convention, or program.

 More than one request is permitted per budgeted year, not to exceed a total of

$6,000.

 Please plan accordingly!

Reference ASI Financial Guideline & Stipulations for any further details.

Mid-Year Budget Requests

 Submit the budget request to the ASI Treasurer  Once approved, you will be notified by the ASI Treasurer of their obligation to

attend the next Finance Committee meeting at least 4 business days prior to the meeting date.

 Make a brief presentation (5 – 7 minutes) to the Finance Committee and respond

to questions from the committee.

 The ASI Treasurer will notify the requesting group of action taken by the Finance

Committee. Reference ASI Financial Guideline & Stipulations for any further details.

Conclusion

 Deposit your 20% fundraising!  Pick-up your P&L’s (Profit & Loss) statements from ASI Financial Services (Must

be an authorized signer)

 Use the correct ASI Request Packet, which can be found on the ASI Financial

Services website. Your council should have a copy of it too!

 Follow the example and instructions that are on this presentation when

completing the packet.

 When in doubt, ask questions!  Be aware of your councils deadline (Slide 12 of the PowerPoint)  Remember that there are other sources of funds. (Admin Fund & Mid-Year

Budget Request)

Thank You! Questions?

Website: www.asi.cpp.edu email: asifs@cpp.edu