ASUM Fiscal Policy: Sections 10-25
10.0 STATUS OF ACCOUNTS.
- 10.1 Upon request, the Business Manager, Office Manager, or Accountant shall provide any member organization with requested financial information.
- 10.2 As provided by an ASUM organization on their group recognition form, or when changes necessitate, organizations must submit the name, address and phone number of those students authorized to request or distribute funds from organization accounts. Any organization not in compliance with this section shall be notified within five (5) business days by the Business Manager and have its account frozen until these requirements are met.
- 10.3 The Office Manager or Accountant, under direction of the Business Manager, shall approve expenditures that have obtained prior approval through the budgeting process. The Business Manager and the Board reserve the right to refuse payment of non-budgeted expenditures.
- 10.4 Any expenditure that will cause a line item or a budget-category deficit shall not be paid or approved until the line-item change procedures are followed. (See Item 12.0)
- 10.5 Any unexpended amount remaining in the following accounts at fiscal year end shall be retained in their respective accounts:
- ASUM Administration
- ASUM Legal Services
- UM Productions
- ASUM Childcare
- ASUM Off-Campus Renter Center
- ASUM Student Political Action
- ASUM Sustainability
- ASUM Student Gardens
- 10.6 Any unexpended Senate-appropriated amounts below $3,000 remaining in the following accounts at fiscal year end shall be retained in their respective accounts:
- 10.6.1 Any unexpended Senate-appropriated amounts above the $3,000 carryover limit in the above accounts shall automatically be deposited into the Zero-base Carryover account at the end of each fiscal year.
- 10.6.2 Any of the above accounts on appeal may, by 2/3 vote with permission of the Board on Budget and Finance and Senate approval, retain Senate-appropriated monies above the $3,000 limit.
- 10.7 The organizations listed below, which are funded in part or whole by the ASUM Activity Fee, may meet with the Board once each semester should either the Board or the organization request such a meeting. The purpose of these meetings shall be to update the Board on budgeted activities. These meetings may be attended by the Accountant and/or Office Manager in order to help clarify any budget problems. The Business Manager shall then report the Board's findings and recommendations to the Senate.
(Organization - Income Source)
- Child Care - Parent User Fees
- Cutbank - Subscriptions
- Montana Kaimin - Student Kaimin Fee, Advertisements, Subscriptions
- Legal Services - Legal Services Trust
- UM Productions - Ticket Sales, Performing Arts, Concessions
- Students Tutoring Students - User Fees, Fund User Fees
- Student Radio Organization. - Student Radio Fee
- ASUM Office of Transportation - Transportation Fee
- ASUM office of Off-Campus Housing and Neighborhood Outreach - ASUM Activity Fee
The only exception shall be the ASUM Administration, which may be reviewed on a monthly basis.
- 10.8 Any deficit incurred by any organization during a fiscal year shall automatically be deducted from the next fiscal year's budget allocation up to $100. A deficit exceeding $100 shall be handled by reducing the next fiscal year's allocation by $100 and then allowing the organization to repay the difference during the new fiscal year. Any deficit remaining at the end of the new fiscal year will be deducted in full from the next Senate allocation. It should be noted that "payment in full" could have the effect of actually closing down the entire organization.
- 10.9 Any organization that does not seek recognition for four (4) consecutive years shall have any remaining funds reverted to the Zero-Based Carryover Account.
11.0 SPECIAL ALLOCATION.
- 11.1 At the beginning of each fiscal year, $16,000 shall be deposited in the Special Allocation account. No more than $18,000 shall be deposited without 4/5th vote of the Senate. The Board on Budget and Finance shall not allocate more than 40% of this money during Fall semester, with the remaining 60% to be allocated during Spring semester.
- 11.2 Requests for a special allocation shall be submitted on a form supplied by the Business Manager, including an account of all itemized expenditures made during the reporting period and a statement of all funds received as income or held as assets to supplement ASUM funds for the organization's activities.
- 11.3 Requests shall be presented no less than one (1) week before presentation to the Senate unless the Board agrees otherwise.
- 11.4 Only those organizations that went through the budgeting process for the current fiscal year shall be eligible for a special allocation. Exceptions can be made for organizations that did not exist at the time of the budgeting process or on a case-by-case basis with unanimous support of the Board.
- 11.4.1 Organizations applying for funding that did not participate in the budgeting process shall only be granted expenditure requests for specific projects occurring in the same academic semester as the request.
- 11.4.2 Allocation requests for projects in specific line items refused in the prior year's budgeting process shall only be approved through special allocation by unanimous support of the Board.
- 11.5 The Special Allocation Fund shall not be supplemented by the General Fund or by Zero-Based Carryover for emergency conditions.
- 11.6 Special Allocation appropriations over $500 will require the group, within two weeks from the completion of the event, to give a brief oral synopsis of the event to the Senate.
- 11.7 Events previously funded through annual budgeting or previous special allocations are not eligible for future special allocations funding.
- 11.8 At the end of each fiscal year any balance remaining in the Special Allocation account shall be returned to the ASUM Zero-Base account.
12.0 LINE-ITEM CHANGES.
- Any deviation in line items from the original budget shall be treated as a line-item change. Line item changes outside of categories will be limited to 10% of any organization's budget allocation. If a request is denied, entails a change of intent, or if the Business Manager feels the request warrants the Board's action, the request will be brought before the Board. The Board's decision may be overturned by a two-thirds majority vote of the Senate.
13.0 CONTINGENCY FUND.
- 13.1 Once each calendar year, the Accountant shall determine the amount which would be owed if all ASUM classified employees terminated employment. At this time the Senate Emergency Contingency Fund should be funded to 80% of the amount necessary to cover the departure of these aforementioned employees.
- 13.2 Increases in this fund shall be determined by the Board and submitted to the Senate for approval by a two-thirds majority vote
- 14.1 All travel funded by the ASUM must directly benefit the ASUM and the organization requesting funding.
- 14.1.1 At the beginning of each fiscal year, $18,000 shall be deposited in the Special Allocation - Travel account.
- 14.1.2 Standard criteria for requesting travel funding shall be group events and/or training or leadership events that directly benefit the organization.
- 14.2 The Senate may choose to fund or partially fund transportation costs, and/or registration fees. Travel and lodging reimbursement rates shall be allocated, or partially allocated, according to State or ASUM rates.
- 14.2.1 At the end of the Final Budgeting Session a set amount of money will be deposited into a Special Allocation - Travel account to be used for travel only. The Board on Budget and Finance shall not allocate more than 40% of this money during Fall semester, with the remaining 60% to be allocated during Spring semester.
- 14.2.2 Only those groups in the Academic/Honors Organizations, Student Service Organizations, Student Support Organizations, Interest Organizations, and Student Programs categories are eligible for funds from the Special Allocation - Travel account, the exception being the Emergency Union Account.
- 14.2.3 ASUM Agencies, the Sports Organization Union, and the Music Organization Union will be funded travel accordingly during the budgeting process, with emergency funds for the Sports and Music Unions being awarded according to policy 14.9
- 14.3 ASUM rates are:
- Private Vehicle $ .15/mile
- Lodging (4 persons per room) $80.00 max. ($20.00/person)
- A "waiver of additional reimbursement" shall be required for travel not covered under State policy.
- 14.4 The Office Manager or Accountant, under direction of the Business Manager, may approve budgeted travel expenditures.
- 14.5 Travel requests must be submitted to the Business Manager by the Wednesday of the third week of Fall semester and by the Wednesday of the second week of Spring semester. Requests must be submitted in the semester in which the travel occurs. If a request is placed before the Group Recognition Form deadline, the Group Recognition Form must be submitted in advance of the request.
- 14.5.1 The Board shall review all requests during the fourth week of Fall semester and third week of Spring semester. Recommendations will be made to be approved by the Senate.
- 14.5.2 A reserve of no less than 5% of each semester's total travel allocation shall be maintained for unforeseen or emergency travel occurring after travel lobbying for the current semester.
- 188.8.131.52 These funds shall only available upon 4/5 approval of the Board.
- 184.108.40.206 Any excess funds remaining in the reserve after Fall semester shall be rolled over into the total travel fund for Spring semester.
- 14.6 As with other benefits provided by the ASUM, travel participation approved and obtained through the ASUM shall be limited to activity fee paying members of the ASUM. Representatives of the ASUM organizations as stated on the registration form must verify the status of each applicant described in the travel request documents filed with the ASUM.
- 14.7 Travel allocation appropriations over $500 will require the group, within two weeks from the completion of travel, to give a brief oral synopsis of the event to the Senate.
- 14.8 At the end of each Fiscal Year, 50% of the funds left over in the Special Allocations – Travel account shall roll over into the initial Special Allocations - Travel account balance for the following fiscal year. The remaining 50% shall roll over into the Union Emergency Account. Any funds remaining in the Union Emergency Account at the end of the fiscal year shall remain in that account for the following year.
- 14.9 Funds in the Union Emergency Account are to be used for unforeseen travel by Sports and Music Union groups. These funds should be allocated on the basis of exceptional events of a prestigious nature, such as national and international events. These funds shall only be avialable upon a 4/5 approval of the Board.
- 15.1 Expenses for official entertainment, community relations, or public relations may be reimbursed by the ASUM only when such activities are directly related to ASUM objectives.
- 15.2 Any entertainment by a group using ASUM funds must be budgeted by the Senate or approved by line-item change procedures
- 15.3 The ASUM will not provide funds for alcoholic beverages.
- 15.4 If the entertainment benefits persons from outside the University, the ASUM will pay for its guests and one official host from the ASUM (receptions excluded).
- 15.5 When the ASUM hosts official guests or prospective appointees for positions requiring specialized training or experience of a professional, technical, or administrative nature, the ASUM will reimburse the cost of meals or light refreshments.
- 16.1 ASUM may purchase equipment for ASUM Administration, all of its agencies, and student groups. Such equipment will be kept in the ASUM Office under the safe-keeping of the Office Manager;
- 16.2 The Business Manager shall establish a process by which the Office Manager shall check out equipment to individuals and groups requesting it.
- 16.3 The Business Manager shall be responsible for keeping an inventory of the community equipment.
- 16.4 The ASUM may request yearly inventory updates on all equipment purchases and supplies (other than general office supplies) from its organizations.
- 16.5 Alll sporting equipment purchased with ASUM funds must be checked in and out through Campus Recreation.
17.0 OTHER INCOME.
- 17.1 Generated funds MUST be deposited with the ASUM. The organization may use its discretion as to how they would like this money budgeted, and these funds shall be allowed as carryover at the end of the fiscal year.
- 17.2 Any grant secured on behalf of any member organization must be reported to the Business Manager.
18.0 OUTSIDE ACCOUNTS.
19.0 ASUM Loan Fund.
- 19.1 The Business Manager and the Office Manager shall administer the loan fund.
- 19.2 The Business Manager and the Office Manager shall be empowered with the authority to grant or decline loan applications.
- 19.3 The Business Manager, the Office Manager, and the Board shall be bound by confidentiality.
- 19.4 The Loan Administrators shall obtain consent of the Board if there is reason to bypass any stipulations of the loan fund, if they are unable to render a fair and impartial decision, or if there is a vacancy in either position.
- 19.5 If for any reason the applicant feels that any decision rendered by the Loan Administrators was not a fair one, he/she may appeal the decision to the Board, which may reverse the decision by a majority vote.
- 19.6 All loan funds under the control of the College of Technology Student Government prior to the merger shall be designated for use by College of Technology students, but under the administration of ASUM.
- 19.6.1 College of Technology students will not be eligible for ASUM loans outside those specifically designated for College of Technology students.
- 19.7 Eligibility.
- 19.7.1 A student must have paid the ASUM Activity Fee in the semester the loan is requested.
- 19.7.2. An applicant must have a cumulative Grade Point Average of at least 2.0 and must not be on academic probation.
- 19.7.3 The applicant must be presently enrolled in at least his/her second consecutive semester as an activity fee-paying student in The University and must not be in the final semester. (School must be in session and loan applicant must be enrolled and attending classes at the time the loan is issued).
- 19.7.4 Final approval of short term loans given at the Student Loan Office in the Controller's Office.
- 19.7.5 If the loan is not secured by a GSL or SLS loan to be received that semester, the applicant must acquire a cosigner who is not a student, not a spouse and who is working at a full-time job if the loan exceeds $50.
- 19.7.6 The applicant must complete the loan application that can be obtained in the ASUM office.
- 19.8 Regular loans (exceeding $50).
- Each loan shall not exceed $500. The interest rate on the unpaid balance shall be seven percent per annum upon receipt of the loan until maturity and twelve percent per annum after maturity.
- The loan will fall due in ninety (90) days or less depending on the due date set by the Loan Administrators. All loans must be paid prior to registration for a student's final semester at the University.
- The total of all funds borrowed from the ASUM by one person during the course of a fiscal year shall not exceed $1,000.
- College of Technology students will be eligible for the short term loan fund in the first academic semester they pay the ASUM Activity Fee and the last semester. All other rules and restrictions outlined in the loan fund policy will apply equally.
- 19.8.1 Childcare Loans
- Each loan shall not exceed $325 per semester/per child. The interest rate on the unpaid balance shall be seven percent per annum upon receipt of the loan until maturity and twelve percent per annum after maturity.
- The loan will fall due upon the student's receipt of financial aid for the current semester. All loans must be paid prior to the student's enrollment in the following semester at the University. Loan balances must be paid prior to the registration for a student's final semester at the University.
- Student with Childcare loans will be privileged to any other ASUM short-term loans. Students choosing to take Childcare and short-term loans will be subject to all regulations associated with regular ASUM loans.
- Only students awaiting financial aid will be eligible for a Childcare loan and the privileges associated therein.
- 19.9 Emergency loans ($50 and under).
- There shall be a $50 limit per loan, and these loans shall not exceed one (1) calendar month. No interest shall be charged until maturity.
- The interest rate on the unpaid balance shall be twelve (12) percent per annum, charged from maturity date until paid.
- 19.10 Overdue loans:
- If a loan becomes past due, the Controller's Office shall make every effort to collect the loan including the cosigner and turning collections over to collection services.
- The University Controller's Office and Registrar shall be requested to withhold the registration and transcripts of an individual who has not repaid a past due loan.
20.0 S.T.I.P. INTEREST.
- 20.1 Funding for one-time capital projects shall be funded from the amount of interest in the State Term Investments Pool. The improvement must be on campus, must benefit students, must have long-term benefits, and must last for a duration of at least one year..
- 20.2 Classified Staff Development shall be funded through S.T.I.P. interest. Classified staff development may include, but is not limited to, enhancement courses through the University or community, in-state and out-of-state conferences and consultations.
- 20.3 Travel for ASUM Administration and Agencies shall be funded through S.T.I.P. interest.
- 20.4 The lobbyist salary and legislative expenses shall be funded through S.T.I.P. interest.
- 20.5 New agencies not in existence at the time of budgeting shall be funded through S.T.I.P. interest.
- 20.6 General operating budgets for student groups that did not participate in the budgeting process the prior year shall be funded through S.T.I.P. interest.
- 20.7 The Board shall recommend specific requests and submit them to the Senate for majority approval.
- 20.8 At the end of the fiscal year, the remaining funds shall roll over to the next fiscal year.
- 20.9 Requests must contain three price quotes for the item to be purchased unless three options are not available.
- 20.10 S.T.I.P. requests must have a value of at least $150.
If an organization commits an infraction of this Fiscal Policy, that organization shall be notified to appear before the Board to explain their action(s). The Board shall be empowered with the authority to send a letter of reprimand to the organization, freeze the organization's account, or take other appropriate action. The balance of the organization's account may be frozen by the Business Manager until the Board has taken action. This Item shall be included in the Budget Request Form.
22.1 Any purchase made by the ASUM, its member organizations, or Executive officers and agencies may be made with the approval of the Business Manager. In case of a purchase made subject to funds availability and confirmation from the Accountant or Office Manager provided the purchase is consistent with the purchaser's budget and Fiscal Policy.
23.0 ZERO-BASED CARRYOVER
- 23.1 At the end of each fiscal year, any unexpended amounts remaining in organizational accounts not specified in line 10.5 will revert to the Zero-Based Carryover Account.
- 23.2 During Final Budgeting, the Senate may transfer money from the Zero-Based Carryover account to the General Fund with a 4/5 vote.
- 23.2.1 The Senate may only transfer funds if the Zero-Based Carryover account exceeds $90,000, and this account cannot be reduced below this base amount.
- 23.2.2 The maximum amount that can be transferred from the Zero-Based Carryover account to the General Fund during final budgeting is $5,000.
- 23.3 Any use of Zero-Based Carryover funds must be approved by a 2/3 majority vote of the Board on Budget and Finance and a 2/3 majority vote of Senate.
- 23.4 Zero-Based Carryover funds shall not be used to increase or used in place of Special Allocation funds or Travel Special Allocation funds.
- 23.5 In case the 5% reserve in the Special Allocations - Travel account is not sufficient to cover an unforeseen or emergency travel request after scheduled lobbying, the Board on Budget and Finance may approve, with a 4/5 majority of members, a new allocation withdrawn from Zero Base Carryover. Approval of such action by the Senate requires a 2/3 majority.
24.0 INELIGIBLE PURCHASES
- 24.1 ASUM, in recognizing the United States Constitution's presumption of a separation between religion and state, will not purchase sacred religious texts or tools used for proselytizing to non-members with ASUM funds, with the exception of general group promotion
- 24.2 ASUM will not purchase laptop computers or other mobile electronic devices unless they are for office use by ASUM Administration or Agencies.
- 24.3 ASUM will not purchase clothing unless for promotional use exclusively by ASUM.
24.3.1 All purchases for promotional ASUM clothing must be approved by the Outreach Committee and subsequently by the ASUM Senate.
- 220.127.116.11 ASUM will also adhere to other restrictions as provided in Section 2.0 and Section 9.1.2.
25.0 ASUM ELECTIONS ACCOUNT
- 25.1 At the beginning of each fiscal year, $3,000 shall be deposited in the ASUM Elections Account from the S.T.I.P. Fund. $400 of this fund will be used by the ASUM Elections Committee to promote voter turnout.
- 25.2 Candidates may choose to be reimbursed for campaigning expenditures to the amount of $10, dependent upon receipts following the General Elections. Expenditures exceeding $10 will be matched 50% by ASUM. Total ASUM contributions shall not exceed $37.50 for Senate candidates, $50 for Business manager candidates and $75 for President/Vice President candidates. All claimed expenditures for reimbursement must have receipts. Expenditures without receipts will not be matched by ASUM.
- 25.3 Any claimed expense without a receipt will not qualify for the matching reimbursement.
- 25.4 Any unexpended funds remaining in the ASUM Elections Account at the end of each fiscal year are to be returned to the S.T.I.P. account.