8:11 am in Troy Saturday, Nov 7
In the Union Annual Report, you'll find every calculation, graph, figure, and number you need to have a clear, complete view of the Union budget for Fiscal Year 2010 (2009-2010). This brand new document was born from a desire to make the financial processes of the Union more transparent, accessible, and open.
Activity Fees for Next Year (2009-2010)
$533.50
for undergraduates
$290.50
for graduates
Approved by the Board of Trustees on Friday, February 20, 2009, and by the Student Senate on Monday, February 16, 2009, with a vote of 19-0-1.
Watch the Keynote
Brian Zaik, Senate / Executive Board Liaison, introduced the Student Senate to Union Annual Report in February 2009. Watch him go over the key points from UAR09 in this keynote presentation.
Budgeting in Three Simple Steps
Step 1: Organizations Submit Budgets
Each and every club, athletic team, and other group desiring funding from the Union submits a budget that details their expected expenses for the new fiscal year to the Union Executive Board, a group of students. The Executive Board looks through these budgets line-by-line, approving or denying the line items. This process starts in September of the Fall semester and ends by February of the following year.
Step 2: Fiscal Policy Sub-Committee Compiles Numbers
The Fiscal Policy Sub-Committee, a body of the Student Senate chaired by the Senate / Executive Board Liaison, meets over several months. This group collects all of the approved organization budgets and compiles Union Annual Report, generating the Student Activity Fees that are used to offset the expenses of the Union.
Step 3: Activity Fees are Approved
The Fiscal Policy Sub-Committee sends Union Annual Report to the Student Senate, along with the Student Activity Fees for undergraduate and graduate students. These fees are recommendations that the Senate will approve in dollar amounts. Once the Senate approves the fees and the Annual Report, they are sent to the Board of Trustees for final approval and to be put into effect for students in the next academic year.
