Union Annual Report 2012 (UAR12) expands on the immense success of its predecessor to pave the way for financial transparency at the Rensselaer Union for years to come. UAR12 essentially institutionalizes the format and function of the previous year's UAR so that it can be used for years to come. It focuses on Fiscal Year 2012 (July 1, 2012 to June 30, 2013).
UAR12 incorporates months of feedback received from many people both inside and outside of the Union's governance. With UAR12, the Fiscal Policy Sub-Committee paid particular attention to combining qualitative information about the year's highlights and club achievements with the already strong presentation of quantitative information to give members of the RPI community a detailed look into what sets the Union apart from other on-campus student unions around the world. Every graph, calculation, and figure is meticulously displayed in all its visual glory.
Activity Fees for Next Year (2012-2013)
The Rensselaer Board of Trustees approved the Union Budget in early March 2012. It has also been approved by the Student Senate and Fiscal Policy Sub-Committee.
Nicole Gallant, Student Senate / Executive Board Liaison presented UAR12 to the Rensselaer Union Student Senate for approval in February 2012.
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.