Funding

Organizing Your Budget

Organizational Record-Keeping

• Appoint or elect a treasurer to maintain the budget and all financial records. Any member organizing an event should be accountable to the treasurer and adhere to the authorized budget, make purchases only with the treasurer’s authorization, and report back to the treasurer throughout and at the end of his or her program. Note that the president is not exempt from following these guidelines!
• The treasurer should contact SACBO immediately for the Head Start Treasurers Training.
• The treasurer should make frequent presentations of the group’s financial standing to the president and to the general membership. Financial reports should be prepared regularly.
• The treasurer should keep clear records at all times. Buy and maintain ledgers, which should be readily available for inspection by group members and your organization’s student governing body.
• The treasurer and the president should keep in touch with the ABC to help resolve budgeting concerns as they arise.
• The treasurer and the president should meet regularly with your SDA adviser and your SACBO adviser.

Developing an Annual Budget

Each spring, all organizations are expected to submit budget proposals and allocation requests to the student governing bodies under which they are recognized. Your budget should include anticipated operating expenses, program expenses, and income projections. Revisions to these budgets, which are based on the actual allocation you have received, are to be made in September of each year.

Budgeting for Operating Expenses

Start by budgeting your operating expenses for the year. Consider the costs of membership recruitment, office supplies, and other year-round needs, such as folders, envelopes, pens, markers, paint, tape, rulers, scissors, telephone charges, mailings, and printing.

Budgeting for Individual Programs’ Expenses

In budgeting for an on-campus program, be sure to account for every single expense and to estimate income conservatively. A partial list of possible expenses includes entertainment costs (performance fees, agents’ commissions, hospitality, technical and security charges, mailing expenses), operating expenses (proctors, rental charges, permit applications, decorations, supplies, car or van rentals, ticket printing), food costs (catering, paper and plastic goods, serving supplies), and publicity costs (printing, supplies such as sheets for banners and markers, advertisements). For theatrical performances, include copyright and script or sheet music charges, along with supplies and costumes. Off-campus events should include travel, accommodations, and meals (if covered) in their budgets.

Anticipate Programs’ Incomes

Events generally should have income as well as expenses. Reasonably estimate attendance, ticket sales, and cosponsorships. Be careful not to budget too much for anticipated revenue. This can send your group into unexpected deficit.

Budget for publications

Include printing, typesetting, and mailing expenses. All publications are required to raise a significant portion of their publication costs through advertising sales and/or donations. All ad income must be documented by a contract between the organization and the advertiser. The organization contract must be signed by your advisor and forwarded to SDA Financial Services.

Prepare a budget request

If your revenue and other resources do not meet your group’s expenses, you may request funding for the difference. ABC has an ongoing appeals process for additional funding requests.

Working With Your Allocation

You may need to re-evaluate your budget plans if you do not receive your full request - your ABC representative will explain exactly what was and was not approved within your budget proposal. Try to cut expenses by reducing mailings and other expenses, finding less expensive performers, and reducing the number of pages in publications, for example. Try to find additional funding by cosponsoring your event with other groups, or seeking corporate sponsorship, local donations, or advertising. If you receive additional outside funding, you must re-submit a new event budget summary, including a provision for your original allocation. All solicited outside funding must be done by contract or be accompanied by a letter from the donor.

Accounting for Expenses and Income

After an event or publication, total the actual income and expenses, and compare them against the original working budget. Similarly, you should keep an accurate account of your operating expenses. You will be asked to submit budget reports to your governing body. Don’t wait for these periodic reports to reconcile your financial records, though. Meet with a representative of your group’s governing body, your advisor, and the SACBO staff as often as necessary to keep your records straight and address financial concerns as they arise. It is your organization’s responsibility to compare and reconcile your records with the monthly financial statements that you receive.