Financial Handbook

What is the Financial Handbook?

The Financial Handbook is .....

Stack's visual style is simple yet distinct, making it an ideal starting point for your project whether it be a basic marketing site, or multi-page company presence.All requests must be submitted and approved prior to the funds being sent or the event taking place

Stack's visual style is simple yet distinct, making it an ideal starting point for your project whether it be a basic marketing site, or multi-page company presence.All requests must be submitted and approved prior to the funds being sent or the event taking place

Stack's visual style is simple yet distinct, making it an ideal starting point for your project whether it be a basic marketing site, or multi-page company presence.All requests must be submitted and approved prior to the funds being sent or the event taking place

PDF of our Financial Handbook available here.

image of handbook

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Funding Background

The funds The College of St. Scholastica Student Government Association receives are from the Student Activity Fee. This fee makes up around $300 of students’ tuition fee. The exact amount of this fee is determined by the Student Activities Fee Committee (CAB, Student Activities, Campus Ministry, Outdoor Pursuit, Student Government Association, Student Affairs, CSS Dean of Students, and more sit on this committee).

After the numbers have been verified, the Student Government Association Financial Vice President then transfers the funds from the College into the specific organizational accounts. The Financial Vice President oversees all the organizational accounts.

The Financial Vice President each year will lead a group of Senators and Executives in the Financial Handbook Review Subcommittee. The aims and goals of this subcommittee include ensuring the Financial Handbook is up-to-date and modify any areas of concern. Any changes will be brought forth to the General Senate to be voted on and implemented. It is the Financial Vice President’s responsibility to follow through with adapting these changes to the requests that are submitted following the approval.

Requesting and Using Funds

Allocation Table

The allocation is how the SGA decided how much money clubs can recieve for a particular event. You can review the current allocation table here.

Types of Budget Requests

So....how do I get funds for my club or project?

Budgeted Request

The organizational budgeting process happens a semester in advance. Budgets for fall will be conducted during spring semester, and budgets for spring will be conducted during the fall semester. Information will be sent to club leaders by the FVP with a timeline as well as instructions for the club budgeting process.

Unbudgeted Request

An unbudgeted request can be put forth by a student or club leader to obtain funding for any expense that was not previously budgeted for during the semesterly budgeting process. Events that have been budgeted for cannot request more funding via an unbudgeted request.

Legislative Bill

Bills are usually created by SGA or in partnership with SGA. Unlike budgeted and unbudgeted requests where funds are palced into a club account, bills allow for the approval of funds for a specific project.

Paying for Club Supplies

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Pcards

A P-card is the main way that clubs should access their funds. A P-card is a school credit card that can be checked out and used by the club members to make club purchases.

Reimbursments

Student reimbursements are a way to pay yourself back for spending personal money on a club purchase. You can complete a reimbursment to use funds already in your club account.

Invoices

Invoices are generally recieved after a purchase has already been made. You may recieve an invoice from a vendor and get the invoice paid by the college following the correct steps.

Fund Allocation Policies and Guidlines

SGA Funds

Here is a quick guid on some of the funds managed by SGA

General Fund

SGA uses this account for approved unbudgeted requests through debit funds. These funds can be accessed through the process of submitting an unbudgeted or budgeted request. At the end of the academic year, all unused club funds excluding fundraised or donated revenue, is rolled over to this account. The account balance of the General Fund is announced at each SGA meeting.

Operating Fund

This account is the Student Government Association’s organizational fund. These funds are used for daily operations and fundraising revenue. Any internal Unbudgeted Requests move funds from the General Fund to the Operating Fund to be accessed.

Stipend Fund

This account is used to reimburse Student Government Association leaders for their work. Student Government Association is the only organization that is able to receive stipend funds to reimburse their student leaders.

This allows us to advocate and support the needs of the student body.

56 Nights Fund

The purpose of the 56 Nights Fund is to support the funding of 56 Nights events hosted by clubs on the weekends. 56 Nights is a way we have clubs take part in building community and having fun events for students on the weekends. This fund is managed by the Student Activities Department.

Renewable Energy Fund

The purpose of the Renewable Energy Fund is to allocate specific funds towards sustainability-based projects on campus. This fund was created in partnership with the Sustainability Office. These funds are to be used with the focus of sustainability and renewable energy in mind.

Project Fund

The purpose of the Project Fund is to allocate funds towards projects that benefit the student body, projects determined by the SGA Senators and Officers. These funds are to be used with a focus on student-identified campus improvements.

Definitions

When SGA usings this language, these are the definitions we are using.

Banquet

An event for active members of an organization (SGA does not fund)

Club Item

An article of clothing/object that is intended to be kept by the club member (SGA does not fund)

Fundraising

Currency obtained specifically for your organization through initiatives or club activities. May be paid out of pocket by club members

Group Bonding Event

An event for active members of an organization that actively portrays the Benedictine Value of Community

Registration

‘Entry fee’ that is essential to grant access to an event, non-profit organization or conference deemed beneficial to The College of Saint Scholastica by the Student Government Association.

Speaker

An event open to CSS (which could include outside community members) that involves a keynote, motivational or other type of speaker for academic or personal enrichment. Speakers will be processed by the SGA via unbudgeted request. Funds requested for a speaker may not be used to purchase gifts for the speaker.

Speaker

An outside entity (such as a DJ, comedian, band, etc.) that is coming in to provide entertainment for an event.

Study Abroad Experience

An academic learning opportunity for a student to spend time in a community other than CSS while receiving credit. SGA will not consider funding for study abroad opportunities. *SGA will not consider refunding the Student Activity Fee for the time the student is physically absent from CSS.*

Trip

A venture that involves academic enrichment. This may include (but is not limited to) conferences, social justice or community service based activities that can be attended by both CSS and/or non-CSS community members. Only CSS students can be budgeted for and will receive reimbursement. *SGA will not fund individual trips, unless they benefit the entire CSS community.*

Account Maintenance

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Rollback Process

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Organizational Debt & Probation

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