Fiscal Year 2015 Budget Proposal
Jonathan Whitson, Vice President of Finance
February 26, 2014
February 26, 2014
Graduate Student Government Senate,
It is with great pleasure that I respectfully submit the enclosed budget proposal for the 2015 fiscal year for your consideration. This annual budget is submitted accordingly with the specifications and directive established by the Graduate Student Government Constitution and Finance Committee By-Laws.
This year’s budget proposal comes before you after much debate and consideration by the Finance Committee. The overall objective of this report is to present historical reference regarding the financial position of the organization, report current financial health, and propose a future allocation of monies aligned with the values and priorities of the organization. Although this proposed budget directly impacts the 2014-2015 academic year, it will also set the path for future growth and the direction for this governing body.
Several strategic outcomes have been established in the crafting of this report. First, this report seeks to provide financial transparency for all members of the organization. Second, the format attempts to allow members to engage in a constructive dialogue regarding the balance between competing priorities. Third, through the information and analysis conveyed, this report seeks to propose a balanced and sustainable budget to promulgate the fiscal health of the government. Fourth, the recommendations hope to reinforce the valuable initiatives of the group. And lastly, the report ultimately sets out to bolster the values of the organization financially.
In closing, I hope you find this report beneficial. Should you have any questions or concerns regarding any element of this proposal, please do not hesitate to contact me.
Respectfully submitted,
Jonathan Whitson
Vice President of Finance
Graduate Student Government
Budget History
Spending History
Fiscal Year 2014 Year-to-Date Expenses
GSG Operational Budget: 801535Item / Budgeted / YTD / Remaining
Salaries/Recognition Awards / $8,000.00 / $8,000.00 / $0
Capital Equipment / $1,000.00 / $0 / $1,000.00
Telephone / $350.00 / $224.00 / $126.00
Postage / $50.00 / $0 / $50.00
Office Supplies / $200.00 / $265.49 / $(65.49)
Printing-reprographics / $500.00 / $57.06 / $442.94
Advertising / $1,000.00 / $697.65 / $302.35
Travel/NAGPS Conference / $2,000.00 / $1,940.94 / $59.06
Food / $10,000.00 / $5,495.27 / $4,504.73
Game Room/Special Services / $12,378.00 / $12,378.00 / $0
Spacing / $0 / $144.00 / $(144.00)
Credits / $0 / $(500.00) / $500.00
Operating Total / $35,478.00 / $28,702.41 / $6,775.59
GSG Individual Conference & Group Funding Budget: 801538
Item / FY14 / YTD / Remaining
Programs (Group Funding) / $50,000.00 / $21,461.00 / $28,539.00
Individual Conferences / $80,000.00 / $27,336.41 / $52,663.59
Grant Event Pool / $15,000.00 / $0 / $15,000.00
Conference & Group Total / $145,000.00 / $48,797.41 / $96,202.59
Annual Budget Total / $180,478.00 / $77,499.82 / $102,978.18
Organizational Trends
Group funding approvals and funding amounts
The graphs below depict the number and amount of approved funding applications the GSG received this past fiscal year from recognized graduate groups. During the fall semester GSG approved 18 events and 12 in the spring, totaling $13,000 and $19,000 respectively. It is also important to note that we anticipate another 5 to 10 applications before the end of the fiscal year.
Organizational Trends (Cont.)
Individual conference applications
The chart below depicts a graphical representation of the number of applications received for individual conference funding over the past fiscal year. Based on our six period funding system, a noticeable increase in applications was observed in period III and V, which correspond to conferences in October, November, February, and March. If this trending continues it future years it would be to best to support future funding by mirroring these trends to ensure each period has funding reflective of the number of applications GSG expects to receive.
Individual conference spending
The graph above on the right shows the period over period funding approvals as well as the cumulative amount of funding for fiscal year 2014. It is important to note that an increase in applications in periods II or IV would directly impact the ability of the GSG to approve requests beyond the equal allocation amount given to each period.
Organizational Trends (Cont.)
Applications by College
More than half of all conference funding applications comes from two colleges within the University. To the contrary, the bottom three colleges represent less than 3% of all applications received. This stark polarization demonstrates a potential inequality between those receiving benefits from the Graduate Activity Fee and those that do not.
Recommendations and Proposals
1. Balancing the budget
To ensure the long-term financial health of the Graduate Student Government, the organization should seek to budget to the amount of fees collected via the Graduate Activity Fee. Based on income from fiscal year 2014 and enrollment trends, GSG should seek to establish a budget totaling roughly $145,000. To this end, many line items have been adjusted to achieve this goal. Specifically, individual conference funding, the event grant pool, and the operational budget have been reduced in the fiscal year 2015 proposal.
2. Greater emphasis on group funding
With the goal of equitable distribution in mind, the GSG should seek to provide greater group funding opportunities by revising their policies and increasing the amount of funding available to groups. Doing so will GSG to maximize the effectiveness of the Graduate Activity Fee by reaching more and more students. To achieve this goal, the Finance Committee has increased group funding $5000 year-over-year.
3. Increase funding for organizational development
This past semester GSG hosted an internal retreat dedicated to organizational development and the development of graduate student leaders. It is the recommendation of the Finance Committee to formally recognize this organizational value by dedicating funds specifically for internal retreats and leadership training for senators and committee members. The proposed budget includes a new line item entitled, Internal Conferences, with $1250 dedicated to it.
4. Financial support for Graduate Leadership Programs
The Center for Student Involvement (CSI) current operates a Leadership program, which is funded by the undergraduate Student Activity Fee. A number of graduate students have demonstrated interest. Another goal of the leadership program is to provide leadership development to graduate groups. In an effort to support the development of a graduate student leadership program within CSI, the Finance Committee proposes a dedicated line item within the operational budget in the amount of $1000.
Fiscal Year 2015 Proposal
GSG Operational Budget: 801535Item / FY14 / FY15 / Δ
Salaries/Recognition Awards / $8,000.00 / $8,000.00 / $0
Capital Equipment / $1,000.00 / $0 / $(1,000.00)
Telephone / $350.00 / $350.00 / $0
Postage / $50.00 / $50.00 / $0
Office Supplies / $200.00 / $200.00 / $0
Printing-reprographics / $500.00 / $500.00 / $0
Advertising / $1,000.00 / $250.00 / $(750.00)
Travel/NAGPS Conference / $2,000.00 / $1,250.00 / $(750.00)
Internal Conference / $0 / $1,250.00 / $1,250.00
Graduate Leadership Programs / $0 / $1,000.00 / $1,000.00
Food / $10,000.00 / $8,750.00 / $(1,250.00)
Game Room/Special Services / $12,378.00 / $12,378.00 / $0
Operating Total / $35,478.00 / $33,978.00 / $(1,500.00)
GSG Individual Conference & Group Funding Budget: 801538
Item / FY14 / FY15 / Δ
Programs (Group Funding) / $50,000.00 / $55,000.00 / $5,000.00
Individual Conferences / $80,000.00 / $55,000.00 / $(25,000.00)
Grant Event Pool / $15,000.00 / $0 / $(15,000.00)
Conference & Group Total / $145,000.00 / $110,000.00 / $(35,000.00)
Annual Budget Total / $180,478.00 / $143,978.00 / $(36,500.00)
Deficit Potential
11