Finances Committee/SAFAC

From Drexel Smart House

Contents 1 What is SAFAC? 2 Total Available SAFAC Funds 3 Eligibility 4 Funding Limits 5 Funding Determination Techniques 6 Funding Policies and Guidelines 6.1 Advertising of Events 6.2 Supporting Documentation for Filing 6.3 Appropriate Funding Allocation 6.4 Reserve Funding 7 Application Process 8 Funding Appeals Process 9 Typical Cost Items 9.1 Operational Expenses 9.2 Capital Expenses 9.3 Activity Expenses 9.4 Conference Expenses 10 Forms 11 Resources 12 Tutorials 13 Account 13.1 Information 13.2 Administrators 14 Fiscal Years

What is SAFAC?

SAFAC stands for Student Activity Fee Allocation Committee and consists of a board made up of students and 1 advisor. The goal of the board is to distribute 100% of Student Activity Fee Funds. Refer to the Online Presentation prepared by SAFAC and Joe Gonzalez to find out more about what they do.

Currently the SAFAC board consists of:

• 13 Student Org Liaisons
• 1 Club Sports Liaison
• 1 Frat/Sor Life Laiason
• 1 Chair
• 1 USGA Representative
• 1 Advisor
• 1 Student Life Liaison

Total Available SAFAC Funds

The total pool of funds available for SAFAC to distribute each Fiscal Year is determined using the following equations:

• (Number of Total Enrolled Ugrad Students) X ($150) = (Estimated Beginning Total)

• All the rest of student fees currently go to the DAC Construction project

• (Estimated Beginning Total) + (Rollback from previous FY) - (Contingency) = (Available Estimated SAFAC Budget)
  

Because of Drexel's 4 Quarter cycle, SAFAC operates on a bi-yearly recycled schedule, meaning that Organizations must apply for next years money before the end of the current fiscal year. Because of this operating schedule, SAFAC has implemented rolled back funds, which can only be anticipated based off of past years. Additionally, as students at times leave the University, SAFAC must also anticipate the loss of the funds these students would have paid for the missed terms.

Eligibility

The following criteria must be met in order to receive an Annual Allocation or Appeals Funding:

1. Be Recognized as an organization by the Office of Campus Activities by February 28 of the year applications are due
2. Have a membership that is made up of currently enrolled Drexel University students
3. Must have any one member of the organization attend an Annual Allocation Information Session (in-person or on-line) to apply for annual allocations for the upcoming fiscal year
4. Student organization President, Treasurer and Advisor listed on the Annual Allocation Request Form must be consistent with the Student organization recognition paperwork on file with the Office of Campus Activities.

Funding Limits

There is a list of funding limits to keep in mind while forming your case for funding. The list is accessible on the SAFAC website.

• In FY09 $3.2MM asked for $4.5MM available

Funding Determination Techniques

To best allocate your resources to determine what funding you should pursue:

1. List the top 3 to 5 things/items essential to maintaining or growing your organization for the next Fiscal Year.
2. Begin to itemize the expenses related to achieving these 3 to 5 things/items.
3. Keep in mind that SAFAC is only here to support your organization and that you should not apply for 100% of all of your expenses, or at the least do not assume you will receive 100% of the funds you request..

Funding Policies and Guidelines

Advertising of Events

All events paid for with SAFAC Money must be advertised on the Drexel Advertising Networks (InfoNet, Daily Digest, Posters, etc.)

• All student organizations are required to submit an end of year report at the closing of the fiscal FY09 to be able to access their FY10 Funds.
• No more allocation of money to pay for Miscellaneous funds
• Never use fund to pay "salary" for members of Drexel Staff or Faculty or Students.

Supporting Documentation for Filing

• No longer required for proving cost
• Should still be collected and included because it can create a stronger case (do most particularly when asking for non-standard items.
• Supporting documentation does not need to be a quote of cost' it only needs to be a two paragraph summary of why you need the money and how it will be allocated.

Appropriate Funding Allocation

• Food/drinks for weekly org meetings v. events open to entire body
• Unused sources raises questions.

• Typically by Winter Term they desire to see 75% of funds consumed

• If 75% of funds are not used at end of winter term, send a letter explaining why. For instance you might have a high-cost Spring Conference or Activity

Reserve Funding

• Student organizations which are recognized and able to apply through the SAFAC Annual Allocations process for FY10 but do not, will be ineligible to apply for Reserve Funding through FY10
• Reserve Funding will only be available for brand new student organizations formed after Feb 28, 2009 and for unforeseen expenses of existing groups which already received an Annual Allocation.

Application Process

Note: Applications for funding are online as of filing for FY10

1. Go to SAFAC
   
2. Click on the Annual Allocations Button
   
3. Download Joint Application from SAFAC Funding. Note: The Joint Application will be sent to both SAFAC and GSA.
4. Upload Application.
5. Gets emailed to SAFAC and to filee.
6. Only President or Treasurer should upload.

Funding Appeals Process

1. You must contact your {{{name}}} liaison
2. Note: The Amount of Money in appeals varies from year to year. No Set Amount is set aside for the appeals process. Money left after Annual SAFC Allocations moves to the Appeals Fund Account for SAFAC.
3. Note: Student organizations going through the appeals process are not guarenteed the $500 operating budget line item.
4. Note: Student Organizations going through the Appeals Process are not guarenteed SAFAC funding.

Typical Cost Items

Operational Expenses

Operational Expenses are defined as costs necessary to the successful operation of the Organization.

• Printing Posters
  
• Domain Hosting
  
• etc.
  

Note:(no longer need to calculate or file for Operational Costs) now have $500 guarenteed for operational expenses when your filing for Capital, Activity, and Conference is recognized as valid.

Capital Expenses

Capital Expenses are defined as Hardware (ie. One Time Cost) that will be used for 3 or more years
'Boardgames | Software | Billiard Tables | Furniture | etc.'

Note: No funding of high risk items

• Cameras | Printers | Computers | iPods | etc.
• things that can move easily and are highly desirable to theft

Activity Expenses

'Food/drink | Entertainment materials | Decorations | Set-up and Tear-down fees'

Conference Expenses

'Registration | Travel | Lodging

Note: no SAFAC funding for food, entertainment, or activity-type expense items for Conferences

Forms

• Purchasing

• Request to Purchase
• Check Request
• Cash Request
• PA Sales Tax Exemption Certificate

• Funding

• Joint Annual Allocation Request
• Annual Allocation Appeal Form
• Reserve Funding Request
• Funding Transfer
• Cash Receipt Deposit Voucher

Resources

• Overview
• Online Training
• Policies and Procedures
• Account Types
• Fundraising Guides
• Promotional Materials
• Traveling

Tutorials

• Purchasing stuff

Account

Information

Account Name | Account Number | Copy/print Number

Administrators

Current President | Current Treasurer | Current Faculty Advisor

Fiscal Years

2006 | 2007 | 2008 | 2009 | 2010