Finances

Organization Budgets

Budget Request Process

Student organizations complete a budget request form annually, prior to the beginning of the school year. All organizations are required to give a small presentation regarding their budget request infront of the SBA Budget Committee. The incoming SBA president appoints a diverse Budget Committee consisting of the treasurer, two SBA members, and two students to review all of the submitted budgets. The Budget Committee then reviews all requests and allocates funds accordingly.

Organizations should include the following along with their completed budget request form:

  • Contact information for the incoming officers.
  • A statement of purpose for the upcoming year, detailing proposed events.
  • A proposed budget, with itemized expenses for each event.
  • Any accounting information from the current year that has not been submitted previously

In reviewing the budget requests the Budget Committee will consider:

  • The organizations activities and financial allocations from the previous fiscal year to consider how efficient and effective the organization was with the prior year's funds.
  • Planned events for the upcoming year.
  • How much of the group's allotted budget was spent in the past year.
  • Whether the group had spent it's money in a manner consistent with the organization's purpose.
  • Whether there was any wasteful spending.
  • The history of the organization and the size of its membership.
  • Participation in Law Week.

Fiscal Discretion

Individual organizations have relatively unrestricted discretion to spend their funds as they choose in accordance with university policy. However, please be mindful that use of those funds will be evaluated the following fiscal year to determine your next years budget. Student organizations are encouraged to use their funds effectively and efficiently.

Receiving Funds

Student organizations receive a portion of their alotted budgets in late August and the remaining portion in early January. Over winter break organizations have the opportunity to review their budgets and give back and funds they do not anticipate being able to utilize. (We highly recommend doing so, whenever you realize that you have funds left over. Those funds are then given back to the SBA and the SBA can then use those funds to help provide for the student body at large.) Student organizations who do not spend their alotted budget will be penalized in accordance with university policy.

Supplemental Funding

SBA Family Grants

Student Organizations may seek supplementary funds by applying for a Family Grant. An organization is eligible for a Family Grant when they work with atleast one other organization in putting together an event. Because so many of our organizations interests overlap, we encourage student organizations to collaborate so as to leverage their funds in the most effective way to reach the maximum amount of students.

Organizations can request an SBA Family Grant for up to 25% of the actual cost of their event.

 

SBA Travel Grants

Student Organizations may seek supplementary funding for travel grants to attend organization related events such as conferences and competitions.

Organizations can request an SBA Travel Grant for up to 40% of the cost of their travel.