SBC Funding and Budget Process

Before requesting budget allocations, financial managers should familiarize themselves with the Student Budget Committee (SBC) guidelines and how they align with the Wesleyan Student Assembly (WSA) bylaws. It is essential to understand the SBC funding criteria, including what the SBC can and cannot fund. Reviewing the WSA Bylaws is crucial for understanding the appeals process if your budget request is denied, the workings of slate budgets, and the procedures for managing organizations in debt. These regulations are valuable resources for new financial managers and should be referenced frequently.

Clubs seeking budget allocations should be familiar with the required procedures and guidelines for submitting their requests.

Step 1 - Who can apply for SBC Funding?

To apply for SBC funding, student groups must fulfill several requirements. First, the group needs to be officially registered with the Community Committee (CoCo) and classified as a formal organization. The group must also designate a financial manager. After registration or re-registration, the financial manager should review the finance section of the Club Leaders Manual and successfully complete the Financial Managers quiz available on WesNest. Only upon meeting these conditions can the financial manager request SBC funding during the designated open budget period.

Step 2 - Information about SBC Budget Period

To request SBC funding, you must adhere to specific timing and requirements associated with the budget period. Each fall, the Wesleyan Student Assembly (WSA) holds elections during the first two weeks of school to fill committee positions for the general assembly. Chairs are elected in the spring, and their committees are elected or appointed in the fall. This is important because the budget request period, when groups can apply for funding, typically begins in mid- to late-September. Consequently, if you require funding to be available when classes start, you should apply during the summer budget period.

In early or mid-August, an announcement will be sent to all financial managers of active groups, instructing them to review the Club Leaders Manual financial sections and complete the online quiz available on WesNest. Completing these steps and passing the quiz are prerequisites for applying for summer funding. However, approval of your request is not guaranteed. The summer budget period is open for only one week, and if your allocation is approved, the funds will be transferred into your group's account. It is essential to note that all financial managers must take and pass the financial managers' quiz, whether they are applying for funding in the summer, fall, or spring.

Applying for funding during the Fall and Spring semesters enables the Student Budget Committee (SBC) to meet with groups weekly, providing more opportunities for clubs to request funding. However, there are periods such as Fall Break, Thanksgiving Break, Winter Break, and Spring Break when review of funding requests may not be possible. Also, normally SBC will end the budget period before the end of classes. Closing the budget on the last day of classes ensures that funded activities match the university's academic calendar. This promotes accurate financial management, helps reconcile accounts efficiently before the term ends, and improves transparency and accountability in financial operations. It also encourages student clubs to plan and execute their activities responsibly within the allocated budget period.

Additionally, to effectively manage your budget requests, it is important to understand the SBC budget period timeline. The review process for budget requests takes five business days. Typically, the SBC budget request period begins on Wednesday at 7 a.m. and concludes on Friday at 7 p.m. during the academic year. After the submission period closes, the SBC reviews all requests on the following Monday and Tuesday.

Step 3 - How to Process an SBC Budget Request

To request funding from the SBC, you must complete the Student Budget Request Online Form, which is available on your student group's finance page on WesNest. This form can only be accessed during the open budget submission period. Follow these steps to complete a budget request:

1. Begin by logging into WesNest.
2. Navigate to your Group Page.
3. Click on Manage Organization.
4. Go to Organization Tools, then select Finance.
5. Click the blue button labeled Create Request, and then choose Create Budget Request.
6. Select the Budget Link to access the form, and then complete and submit the online form.

Step 3a - Three Possible Decisions for SBC Budget Requests

After you submit a budget request, the SBC will make one of the following decisions:

Option 1: Approved

If your budget request is approved, the review process will take up to 5 business days. Following approval, please allow an additional 2 days for OSI to transfer the funds into your club or group’s account. Ensure you check your group’s WesNest finance page to confirm that the funds have been transferred before proceeding with any purchases or payments.

Option 2: Deferred

If your budget request is deferred, it may be due to errors on the form or with the financial documentation submitted. You will receive an email from the SBC outlining the necessary steps to address the issue. This may involve meeting with SBC representatives or resubmitting the required documents. Once the issue is resolved, you will receive a final decision.

Option 3: Denied

If your budget request is denied, you have the option to appeal the decision. Instructions for filing an appeal are available on the WSA website.

Steps 4: Check the Status of Budget Submissions

If you want to check the status of a budget request submission, follow these steps. Note that this process shows the status of your request (approved, deferred, or denied) but does not provide the balance of your total budget. 

1. Navigate to WesNest.
2. Select your Group Page.
3. Click on Manage Organization.
4. Go to Organization Tools, and then select Finance.
5. Select the Budget tab located on the left side of the page.
   • You will see a list of the current and previous year’s budget requests.
6. Click on the budget request you wish to review.
   • Make sure to check the date to confirm you are viewing data for the current academic year.

Unspent Funds and Carry Forward Policy

If your organization doesn’t use its entire budget by the end of the academic year, whether the funds can be carried forward to the next year depends on their source. A "carry forward" refers to moving unused funds from one budget period to the next within the same category. Club leaders often ask if their current year's budget can carry forward into the next academic year. It all depends on where the funds are housed. The academic year runs from September to May and falls within the fiscal year, which spans from July 1st to June 30th. The breakdown of the funding sources is as follows:

• SBC or Concert Committee: Funds allocated by the SBC or Concert Committee do not carry over to the next fiscal year.
• Department Funds: Contributions from campus departments do not carry over to the next fiscal year.
• Income/Revenue: Funds generated by the group do carry over to the next fiscal year.
• Green Fund: Green Fund awards carry over for ongoing projects but not for one-time projects.