Reserve Accounts –
Each fiscal year, the Senate Finance Committee sets funds aside in four different reserve accounts to help fund events that groups were unsure of at the time of budgeting requests. In order to request funds, a representative from a student organization should pick up the necessary form from the Senate Finance Committee office, which is located in the Atwood Memorial Center room 138D.
Requests must be approved by the Senate Finance Committee and also the Student Govern-ment Senate before any funds can be allocated. Student organizations may not receive funding from a reserve account if they are already receiving money for the same event from the original budget allocation. The four reserves are Free Balance, Equipment, Speakers, and Interpreters.
Free Balance reserve is used to fund different types of events that don’t fall under the other reserves. Some examples of the most popular requests include special events and confer-ences, seminars, or competitions. Please note that conferences and seminars can only be funded by this reserve and those events that are not allocated funding in the original budget allocation. Free Balance reserve must be submitted at least 4 weeks prior to the event to en-sure enough time for funding decisions.
Funding from the Free Balance reserve is limited to $2000. The organization can request up to $750 with no fundraising matching funds and can request up to an additional $1250 of matched fundraising funds from that current fiscal year (dollar for dollar). This limit is set so that requests will stay below $2000 per request to ensure funding is available for all stu-dent groups. Matching fundraising dollars must be deposited into the ―agency‖ (a.k.a. 900) account prior the submission of the Free Balance reserve request. Senate Finance Commit-tee would then require a statement verifying the balances of the fundraised dollars.
Click here to view the Free Balance Reserve Request Form.
Speakers reserve is used to pay for speakers whom the student groups would like to bring to campus. An organization is eligible to receive up to $800 for a speaker from the reserve. The originating organization can also work with up to two other organizations to receive ad-ditional funding. Each group can receive up to $800 per group with a maximum allocation of $1800. Each group that brings a speaker or entertainer to campus must complete a con-tract (See Speakers and Entertainers section on page 20). Speaker reserve must be submit-ted at least 6 weeks prior to the event date to ensure enough time to complete the contract and receive funding.
Click here to view the Speakers Reserve Request Form.
Equipment reserve is used to fund the purchase of equipment. For these purposes, equip-ment is defined as any substantial purchase where the item(s) would be used for more than 2 years. One example would be uniforms for a sport club; however, equipment may not be personalized. Two quotes are required for each item in the equipment reserve. Senate Fi-nance Committee does not fund any computer purchase (see the Equipment section on page 12). Equipment reserve must be submitted at least 4 weeks prior to the planned purchase date.
Click here to view the Equipment Reserve Request Form.
Interpreters reserve is designed to assist with student needs for different events that would require an interpreter of any kind. Request for interpreters reserve should be in at least 4 weeks prior to event.
Click here to view the Interpreters Reserve Request Form.
Contact SGA-CF@stcloudstate.edu with any questions.
