$$$ $$$ SOAP $$$ Fall 2020 SOAP Workshop Presented by Student Association Senate CFO Morrison On Thursday September 10th 2020
S tudent O rganization A ppropriation P rocess ● The purpose of SOAP is to distribute funds collected from the General Activity Fee (GAF) to student organizations on campus. ○ Organizations are able to apply for SOAP funds once per fiscal year. ■ The fiscal year is defined as starting on July 1st and ending on June 30th of the following year. ● Organizations complete a SOAP application and submit it to Senate CFO in the Fall semester. ● In Spring semester organizations will present and make the case for their budgets at SOAP Hearings. ○ Dates will be finalized soon, plan for a weekend in February. ● SOAP allocations are then recommended to the Student Senate by the SOAP committee. 2
Criteria for SOAP Funding 1. Official SOAP application is turned in on time and signed by organization advisor. 2. An accurate record of income and expenses is maintained by organization. ○ The Finance Committee may audit an organization at any time. 3. Contact information is up to date with SLICE office. 4. An organization must be represented by at least one officer at SOAP workshop. 5. An organization must have at least 10 active members. ○ Eligibility for SOAP funding of smaller organizations must be approved by Finance Committee. 6. Additional requirements based on amount of funding: ○ $0.01 - $999.99 Fundraise 10% of SOAP allocation, SOAP Hearing optional ○ $1,000 - $2,999.99 Fundraise 15% of SOAP allocation, SOAP Hearing mandatory ○ $3,000 - $6,999.99 Fundraise 20% of SOAP allocation with receipts, SOAP Hearing mandatory ○ $7,000 - $9,999.99 Fundraise 25% with receipts, One outreach event per academic year, SOAP Hearing mandatory ○ $10,000+ Fundraise 40% with receipts, One outreach event per semester, SOAP Hearing mandatory 3
SOAP Funding Restrictions ● SOAP funds may not be used for the following items: ○ Organization salaries ○ Events that exclude any student from attending ○ Persons who are not SD Mines students or alumni older than a year ■ Outreach events are the only exception ○ Personal equipment or merchandise that does not remain with the organization ○ Items facilitating fundraising ○ Food purchases 4
SOAP Allocation Decision Factors ● The SOAP Committee will determine allocations based on the following factors: ○ Accuracy of budgets ○ Successfulness of fundraising efforts ○ Quality of SOAP Hearing presentation ■ Explain and validate budget ■ Show how organization has positive impact on student community ○ History of organization ○ Use of previous FY budget (>75%) ○ Impact of COVID-19 5
How to Spend SOAP Funds ● Three main ways to spend SOAP: ○ Petty Cash ■ Works for expenses <$50 ■ Get reimbursed from Cashier’s Office ○ Check Requests ■ Most common and versatile ■ Work with business office ○ Purchase Order ■ Used for ordering items in bulk ■ Not accepted by all companies ● For questions on how to use funds please contact the Business Office ● Purchasing forms may be found here Purchasing Forms 6
SOAP Application and Deadlines ● SOAP application will go live immediately following this workshop. ○ May be found here Resources and Forms ● SOAP application must be emailed to CFO Morrison as a signed PDF document before midnight on Thursday December 19th. ○ This gives organizations a 10 week period to complete application. ● Walkthrough of new SOAP application. 7
Supplemental Funding ● Additional funding is available to organizations if their current budget prohibits an expense. ● The process for applying is as follows: ○ Complete a supplemental application and email PDF copy to CFO. ■ Application found here Resources and Forms ■ Applications must be turned in at least 9 days before funding may be allocated. ○ Possibly meet with Finance Committee to discuss application and answer questions. ● Organizations are limited to $5,000 in any two consecutive fiscal years. ● New organizations that have not previously applied for SOAP are able to receive up to $750 in supplemental funding. 8
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