Finances Committee/SAFAC/FY10

From Drexel Smart House

Contents 1 Funding Application Categories for FY10 2 Supporting Documentation for Filing 3 Appropriate Funding Allocation 4 Funding Appeals Process 4.1 1 4.2 2 4.3 3 4.4 Appeals Application(s) Due 4.5 Appeals Decisions Occur 4.6 Appeals Letters/Funding Delivered 5 Reserve Funding 5.1 FY10 New Process 6 Meet with Your Liaison

Funding Application Categories for FY10

• Capital
• Activity
• Conference
• Operational category is no longer applicable

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

Funding Appeals Process

• First...contact your liaison...
• 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.
• Student organizations going through the appeals process are not guarenteed the $500 operating budget line item.
• Student Organizations going through the Appeals Process are not guarenteed SAFAC funding.

1

Will be funded First (This was us for FY09)

2

3

Application for additional funding (ie. you tapped into all of your resources and have need for more money to maintain student organization)

Appeals Application(s) Due

• May 15, 2009 @ 6:00PM in GSDC room 32 "A"

Appeals Decisions Occur

• May 18-22, 2009

Appeals Letters/Funding Delivered

• May 29, 2009

Reserve Funding

FY10 New Process

• 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.

Meet with Your Liaison

• Highly encouraged
• Able to answer your questions and guide you through the Annual Allocation filing process