THE FINANCE BYLAWS OF THE ILLINOIS COLLEGE STUDENT SENATE
Article I – Purpose
The Finance Committee is a standing committee of the Student Senate which is authorized foremost in all areas of funding, distribution of funds, and financial oversight of Senate funded clubs and organizations.
The Finance Committee, along with the Treasurer shall oversee the finances of Student Senate. The Finance Committee may consider financial matters before the Senate and may issue recommendations to the Senate.
Article II – Finance Committee Constitution
The Finance Committee shall consist of no more than ten members of the Student Senate appointed by the Vice President. The Treasurer must be among these members to serve as chair of the committee. .
The Vice President and President shall be considered non-voting members of the Finance Committee. They shall not count towards the membership limit or a quorum.
The President and Vice President together shall appoint a Treasurer who will serve as chair of the committee. The Treasurer shall retain his/her vote on matters before the committee.
All members of the Finance Committee shall be appointed for one academic year and may be reappointed.
Finance Committee meetings shall be open to the Illinois College Community. The committee may vote at any time to enter executive session open only to committee members. Community members and their advisor will be asked to leave the room upon entering of the private session.
Article III – Funding and Allocations
The Student Senate Finance Committee shall receive and review requests for funding from clubs, organizations, and individuals associated with Illinois College. Requests shall be considered by the Finance Committee and forwarded to Student Senate for approval.
The Finance Committee may exercise its discretion in determining what expenses will and will not be funded. Decisions to fund or not fund certain types of expenses shall be made and justified in writing and attached to these bylaws, after approval from the Student Senate. The written decisions shall be considered a part of the bylaws. Funds in the Senate agency account are not subject to this section.
Any party applying for funding must:
- Complete and submit all forms required by the Center for Student Involvement.
- Complete and submit an allocation form.
- Provide a list of membership.
- Provide any additional information requested by the Finance Committee within one week of the request.
- Meet with the Finance Committee, should they request it.
Failure to comply with any of the above is considered grounds for a reduction or elimination of a party’s funding at the discretion of the Finance Committee.
A club or organization, to be eligible for funding, must be officially registered with the Center for Student Involvement.
No club or organization shall receive funding, regardless of Senate approval, if the group’s officers, advisor, and members information is not updated in the Center for Student Involvement each semester. Verification of this shall be sent by the Center for Student Involvement to the Treasurer before allocations are transferred each semester.
No organization, while receiving allocations from Student Senate, can limit membership or collect dues from its members.
All organizations may apply for funding at any time, provided they follow the regulations and procedures of this Article.
Student Senate shall not consider a group’s ideology, political associations, or beliefs when making allocation decisions. Senate retains the right to deny funds to any group or organization.
Student Senate defines an inactive account as one which has had no financial transactions for three consecutive semesters. Any student club or organization account which falls inactive may have any or all of its funds transferred to the Student Senate’s allocation account. Notice of this action must be given in writing to the last recorded advisor to the group at least two weeks prior to action.
Article IV – Policies
Any student organization may request funds from the Student Senate to cover traveling expenses for their members.
- All requests of any amount shall be reviewed on a case-by-case basis.
- The organization requesting the allocation must submit documentation that provides:
- The purpose of the trip.
- A detailed budget.
iii. How the trip will positively affect the student body and/or student activities.
Student organizations may not use their allocated funds to make any payments or donations to off-campus organizations, companies, or individuals. Any student organization may petition the Student Senate to make an exception on their behalf for a specific reason. Any such petitions will be reviewed on a case-by-case basis.
Student organizations may purchase appropriate apparel provided that the apparel advertises the college, the organization, or both. Any apparel must conform to the guidelines listed in the marketing handbook, which can be found at http://www.ic.edu/Marketing-Branding or by contacting the Office of Marketing and Communication.
Student organizations may request funds for food in their allocation request form on a case by case basis, discretionary to the Finance Committee
Student organizations may purchase gift cards and other prizes to be used at organizational events, open to the student body or just to the organization provided that:
- An event open to the entire student body would mean that no member of the organization can
win the prize.
- An event for just the organization members requires that gift cards or other prizes be given out
in the form of a drawing.
- No more than 30% of total allocated funds are allowed to be used for purchases of prizes.
- Only 40% of all the members within a specific organizations are allowed to win a prize.
Article V – Appeals
Any Senate funded party may appeal its allocation from the Student Senate. An appeal should be made in writing and submitted to the Treasurer. The Finance Committee shall consider the appeal within one week of submission.
A Senate funded party not satisfied with the adjudication of the Finance Committee may make a written appeal to Student Senate. A majority vote of the Student Senate shall then be required to overturn the prior decision of the Finance Committee.
Article VI – Financial Misconduct, Monitoring, and Sanctions
The Finance Committee shall monitor the use of allocated funds and ensure that parties receiving funds use those funds appropriately and responsibly. To accomplish this, the Finance Committee shall monitor accounts through the business office, examine any Senate funded party’s records and/or receipts, or order audits of any party receiving Student Senate Funding. The Finance Committee may also compel Senate funded parties to submit reports detailing their expenses, revenues, and account balances on a per semester basis.
Student Senate allocations are not to be used for payroll of any kind. Exceptions to this would require a two-thirds majority vote of Student Senate.
“Financial misconduct” shall be defined as a violation of these bylaws, any Student Senate legislation, or any College regulations or procedures. The Finance Committee may investigate any funded party which engages in financial misconduct.
If financial misconduct is alleged against any Senate funded club, organization, or individual, the Finance Committee shall open a preliminary fact-finding investigation of the allegations. The Treasurer shall meet with the club or organization’s officers and advisor(s) to discuss the allegation. The faculty advisors may be present at the meeting upon the request of any party involved.
Following the preliminary investigation, if a majority of the Finance Committee thinks financial misconduct may have occurred, the Finance Committee shall schedule a formal hearing and the accounts of the accused shall be monitored, with all transactions subject to Finance Committee approval.
In the event of a formal hearing, the Finance Committee and a member of the group or individual in question shall submit evidence and arguments to the Finance Committee. In the event the Treasurer submits arguments, another member of the committee shall serve as chair during the proceedings.
If the Finance Committee determines financial misconduct occurred, a two-thirds majority must agree upon a resolution or penalty and submit it to the Student Senate for approval. Penalties may include but are not limited to: repayment of funds, removal or an individual’s authority to sign vouchers or authorize transactions, or withholding of future funding.
Article VII – Senate Finances
The annual budget shall include allocations to clubs, organizations, and/or individuals at the Finance Committee’s discretion. Amounts of allocations as well as the semester in which the allocations will be made are determined at the discretion of the Finance Committee.
Student Senate expenses of $200 or more must be approved by majority vote of Student Senate. One-time expenses less than $200 may be approved by majority vote of the executive board and reported to Student Senate at the next meeting.
The Finance Committee can allocate to organizations $250 or less with a two-thirds vote of approval by the Committee and an advisor’s approval.
Article VIII – Amendments
Any party receiving Senate funding shall be notified by the Student Senate at least one week in advance of a vote to change these bylaws. Parties shall then be notified of any changes to these bylaws which are approved.
Any amendments to these bylaws must be passed by a two-thirds vote of the Student Senate.
Submitted to Student Senate on behalf of the Ad Hoc Constitution Committee in February 2015.
Jacob Franke ‘15 Dan Lewis ‘16
Koert Brown ‘15 Bradley Franke ‘16
Nathan Zimmerman ‘16 Noah Yantis ‘18
Christian Flores ‘18 Sierra McDonald ‘17
Jovanny Nava ‘16