Financial Overview for RSOs

• Fee Structure
  • Annual Fee: $286 per act
  • Allocation Breakdown:
    • $100 allocated to student union payments until 2040
    • $186 allocated through the SCA to student organizations

Funding Process and Deadlines

• Funding Applications:
  • Applications are reviewed on a first-come, first-served basis.
  • Current Deadline: March 31 for events/funding requests until the week of October 19.
  • Requests made after October 19 will be submitted for funding in the fall.
• Funding Pool Division:
  • 40% of funds available for fall allocations
  • 60% of funds available for spring allocations

Pause on Purchases

• Temporary Pause on Purchases:
  • RSOs required to cease all purchases with fee money until further notice.
• Additional Funding Requirements:
  • New procedures necessitate compliance with updated guidelines.

Example of Funding Request Process

• Example Scenario:
  • If an RSO requests $15,000:
    • If never awarded funds previously, only compliance with guidelines is needed.
  • If they have a past request of $15,000 and received $0, reassessment occurs.
  • Unspent Funds: Automatically factor into future requests unless formally returned to SGA.
    • Example: An RSO is awarded $5,000 but spends only $4,000; the unspent $1,000 does not roll over without official return.

Categories and Documentation

• Funding Categories:
  • Ensure request forms and templates are completed accurately with all necessary information.
• University Services:
  • Includes areas like UMD, US catering, health, and safety.
  • Differentiate from the previous year's template to ease request processes.
• Requests for Coaches:
  • Funding permitted for RSOs requiring coaches (e.g., karate club needed coaching services).
  • No funding permitted for non-coach student payroll.
• Exceptions for Conferences:
  • justificatory requirements in line with RSOs' mission statements.

Changes in Travel and Material Requests

• Travel Requests:
  • Transportation must be economy for flights.
  • Lodging costs capped at $110 per person per room.
• Material Requests and Equipment:
  • Individual material costs can vary based on events and timelines.
  • Documentation for student vendor purchases should include invoices or pricing documentation.

Clarification on Prioritization and Funding Allocation

• Priority Event Requests:
  • Requests may be influenced by prioritization rules, especially when multiple clubs request limited funds simultaneously.
• Example of Conference Planning:
  • Conference requests can be planned ahead, however, funds must be requested within specific budget timelines.
• SGA Funding Strategy:
  • Shift towards a grant application model rather than an across-the-board cap.
  • Revised procedures enable a more flexible funding approval process.

Equipment Acquisition Considerations

• Restrictions on Equipment Purchases from Fee Money:
  • SGA responsible for any equipment loss, hence strict limitations on what can be purchased and for what purposes.
• Borrowing Equipment:
  • Instances where borrowing facilities fall short of RSO needs may warrant special requests.

Process for Budget Request and Follow-ons

• Unified Request and Use of Funds:
  • Future goal to merge budget requests with purchase requests, though not implemented for spring 2026.
• Emergency Funding Policies:
  • Emergency funding available for unforeseen circumstances capped at $3,000.

Final Notes on Budgeting and Requests

• Documentation Expectations:
  • RSOs must provide clear documentation of prices when submitting requests as well as managing any changes in budgets or allocations.
• Expected RSOs Revenue Account Holds:
  • Sustained funding practices recommended for continuous operation across semesters, especially in case funds run out early.
• Ballot Decisions for Fee Increases:
  • Fee increases subject to administrative overhead evaluations; alternatives considered if a ballot does not pass.
• Travel Cost Limits:
  • Each flight priced at a limit of $460 and lodging expenses are structured based on room occupancy and per night specifications.