Funding FAQ
Where do the funds come from?
The funds the GSB allocates come from the Student Activity Fee paid every semester by every student. This fee was formerly a portion of tuition but has recently been changed by the Iowa Board of Regents into a separate fee.
Who sets the policies for these funds, and how are they changed?
The GSB Senate creates the policies that govern the allocation and usage of these funds. The two documents that contain most of the policies are the GSB Bylaws chapters 12 and 13 and the Finance Priorities and Criteria, which is generally referred to as the Criteria. Copies of these documents can be obtained by visiting the GSB website.
The Bylaws carry over from year to year but may be amended by the Senate through a Senate bill at anytime. If you would like to see a change in the Bylaws, please contact your Senators.
The Senate sets the Criteria during October or November of the year. The Finance Committee is charged with presenting them a recommended form of the document, which the Senate will then consider, amend, and pass. Once the Criteria is passed, the Finance Committee uses it as a guideline in making their recommendations on allocations. If you would like to see changes made in the Criteria for the next year, please contact the Finance Director or one of your Senators before the Senate approves the criteria for the following year.
Who is eligible to receive funding?
GSB's intention is to fund organizations that give experiences far different from the classroom. Activities where students learn or experience things that do not pertain to their major or chosen career path are generally funded. GSB will not fund activities put on by college or residence area counsels. In addition, any activity that GSB funds must be open to all students.
How do we get our funds released?
To get your funds released, your organization will need to have re-registered with the Student Activity Center, have a positive balance in your account, have your treasurer attend the treasurer's training that the Campus Organization Accounting Office runs, and submitted your ledger for the previous year to the Campus Organization Accounting Office for auditing. Once these steps are completed, your funds may be released. If you encounter difficulties in this process, please contact the GSB Finance Director.
Why do we have to stick to specific line items in our budget?
The GSB is charged with the fair allocation of student fees money. In general, the GSB goal is to distribute the money to activities that can benefit as many students as possible, that are open to all students, and have no other major source of funding. This year over 1.5 million dollars will be allocated to between one hundred and one hundred and fifty student organizations and student services around campus.
In addition, the GSB fund's activities that are well defined and to keep student fees money from being spent on parties, pizza, vacations, etc. In a process this large, it is impossible to directly monitor every organization on a constant basis. Therefore, the budget process consists of approving various line items for organizations. Each organization's expenditures are checked against the line items at the end of the year and any line items that are unspent are reverted to the GSB. The Campus Organization Accounting Office, located in Room B4 of the Memorial Union, handles the specific accounting details. If an organization spends their GSB funds on things different than their line items, it is quite possible that they will end up in debt at the end of the year when the funds are reverted. For this reason, it is important for each organization to keep track of GSB funds and expenditures separately from the rest of their funds, and to make sure that enough non-GSB funds are in their account to cover expenditures different from the GSB line items.
Can line items be changed?
It is possible to change these line items after they are approved. To do this, please fill out a "Line Item Transfer Request Form." This form can be found on in this packet, in the GSB Office in the Memorial Union, and on the GSB website, located at http://www.gsb.iastate.edu. Please fill out the form and turn it into the GSB office. Depending on the size of the request, it may be approved by the Finance Director, the Finance Committee, or the GSB Senate. These must be submitted and approved before the funds are expended on the new item.
Why do we have to put "Funded Through GSB" on things, and what exactly do we have to put it on?
The GSB requires that any printed or electronic media distributed outside of a GSB funded organization contain the phrase "Funded through GSB," or something equivalent. GSB's funds come from the fees paid by all students. Having "Funded through GSB" on the materials of GSB funded organizations allows others students to know what is being done with their money. "Funded through GSB" must appear on websites, newsletters distributed to non-members, mass-mailings, banners, flyers, posters, and other advertisements. In addition, "Funded through GSB" must appear on screen-printed T-shirts, on buttons, and other printed merchandise sold or given away to the public.
What are Criteria Dues, and why do we have to charge them?
The GSB funding guidelines require organizations to collect dues and use some of these funds to supplement their GSB approved budget. The portion applied to the organization's GSB approved budget is called "criteria dues." The philosophy behind this is that members of an organization are receiving more of a benefit from that organization than the average student who is not a member. Therefore, the student that is a member should contribute more money to the organization than the non-member. This is accomplished through criteria dues.
How do I contact my Senator?
Students have at least two Senators directly representing them-one for their college and one for their residency area. Please go to the Senate Roster to find contact information for yours.
Who do I contact if I have a question?
If you have questions, concerns, comments, or need help with any part of the funding process, please contact the GSB Finance Director.
