SGA Senate Passes Revised Financial Policy

On Tuesday February 9th, the SGA Senate unanimously passed Senate Bill #5 concerning the approval of the proposed revisions to the SGA Financial Policy.

The SGA Treasurer, along with the Senate Appropriations Committee, amended the policy in order to restructure and thereby simplify the guidelines and restrictions that were previously outlined.

Specific changes include the removal of student group types and the consolidation of standard budget account maximums. Student organizations requesting a standard budget from the SGA are now subject to the same four account maximums, as opposed to the previous policy that utilized group types to classify sixteen different account maximums. In order to maintain fairness and equality across all student organization funding disbursements, groups may now specify whether or not they would like to receive a $1,000 extension to either the activity, equipment, travel, or printing and advertising account maximum. This policy will allow a more flexible and individualized avenue for student groups to obtain funds.

In an effort to ensure consistency within the SGA’s policy, the revisions include integrating the benefits and requirements designated to all student organizations. As a result, all organizations that have been allocated a standard budget are now subject to a SGA-mandated fundraising requirement of 15% of their approved budget.

These policy changes were designed to enhance the flexibility of student organization funding. It is a simplified and streamlined approach, generating an exponential increase in student organization funding. The SGA is proud to introduce a new policy that will better serve the student body and foster equal opportunity.