THE DIVISION OF FINANCIAL AFFAIRS

The Division of Financial Affairs is the arm of Student Government devoted to maintaining the financial integrity of the organization.  It maintains the Student Government budget - roughly $600,000.

The DFA consists of 3 regular employees:  The Vice President of Financial Affairs (VPFA), the Assistant VPFA and the Treasurer.  In addition, the DFA has an Executive Budgetary Committee which brings funding requests to the General Student Senate, and has the authority to allocate $1000 or less to student groups on its own, pending GSS review.

It is largely considered the most important division in Student Government due to the organization being a private, not for profit corporation.  Without the DFA, Student Government could not operate.

What follows is the constitutional outline of the DFA, which should give you a clear picture of its organization and purpose.  If you have any questions, please come to the Student Government Office on the first floor of the Memorial Union.

SECTION 1 - PURPOSE

It shall be the purpose of the Division of Financial Affairs (DFA) to provide for the uniform and efficient operation of the financial affairs of Student Government and its agencies.

SECTION 2 - ORGANIZATION

The Division of Financial Affairs shall consist of the Vice-President for Financial Affairs, the Student Government Treasurer and the Executive Budgetary Committee.  Any additional employees of the DFA must be created and regulated according to the Student Government Employment Policies.

SECTION 3 - VICE-PRESIDENT FOR FINANCIAL AFFAIRS (VPFA)

A.  Shall be appointed by the outgoing President of Student Government, with the advice and approval of the GSS.  If for any reason the position of VPFA should fall vacant, the current President of Student Government will appoint a new VPFA with the advice and approval of the GSS.

B.  Shall advise the President of Student Government and the Cabinet on all matters of finance and financial policy.

C.  Shall, in the absence of a qualified Treasurer, write all checks.

D.  Shall see that all accounts of Student Government are submitted to an annual audit and that the results of that audit are reported to the GSS and made available to the General Student Body.

E.  Shall have the right to inspect the financial records of any organization that receives funding from the Student Activity Fee.

F.  Shall report any appropriations by the Executive Budgetary Committee to the General Student Senate.  This report must be given no later than the GSS meeting immediately following the meeting of the EBC which the appropriation was made.

G.  May be removed from office as stated in the Student Government Employment Policies.

H.  Shall perform such other duties as directed by the President or Vice President of Student Government or the GSS.

SECTION 4 - TREASURER

A.  Shall be appointed by the VPFA with the advice and approval of the GSS.

B.  Shall write all checks.

C.  Shall keep, or provide for the keeping of, such financial records as are necessary.

D.  Shall serve as financial advisor for all Student Organizations.

E.   May be removed from office as stated in the Student Government Employment Policies.

F.   Shall perform such other duties as directed by the VPFA.

SECTION 5 - EXECUTIVE BUDGETARY COMMITTEE

A.  The chairperson shall be the Vice-President for Financial Affairs. 

B.  Shall consist of the President and Vice-President of Student Government, the VPFA, the Treasurer of Student Government and 4 members elected by GSS at the first GSS meeting of October, or when any seats should fall vacant.

C.  The EBC shall run in accordance with its own governing documents.

D.  Meetings shall be held not less than once a week when the GSS is in session, or upon request of at least two members of the EBC.

E.  Any member who is absent or fails to send a representative to two (2) consecutive meetings of the EBC shall lose all the rights and privileges of membership and shall not count as a quorum until he/she is reinstated by a majority vote of the EBC.

F.  The EBC shall have the power to prepare the Annual Budget and all other budget matters, for submission to the GSS in accordance with the most current Student Government financial policies.

G.  The EBC shall have the power to appropriate funds to Student Organizations up to $1000 without approval by the General Student Senate.  The GSS may overturn such appropriation by a 2/3 roll call vote assuming the funds have not yet been distributed.

SECTION 6 – DIVISION POLICIES

The Division of Financial Affairs shall maintain a set of policies to govern the operations of the division.  These Financial Policies shall be subject to amendment by a 2/3 vote of the GSS.