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Budget Requirements & Requests

Registered Student Organizations are eligible to receive funds through Activity & Service (A&S) fees managed by the FSU Panama City Student Government Council (SGC). If interested in receiving A&S funding from SGC, an RSO officer should contact the SGC Finance Chair or the SGC/RSO Program Associate to request a motion to be placed on a SGC regular business meeting agenda.

New RSOs will have a budget number assigned to them. The RSOs meeting minutes should reflect the proposed amount and use of funds as decided and voted on by the RSO membership-not only the officers.

During the SGC meeting, a RSO representative should present their organization’s purpose and proposed budget request for approval.

If the request is approved, a memo will be submitted to the Finance department to transfer the approved amount into the assigned account. As a stipulation for receiving funding through SGC, RSOs are required to raise funds equal to or greater than 10 percent of the amount funded by SGC.

 

Off-Campus Accounts

All RSOs may maintain all self-generated funds in an off-campus account. Checking accounts are a good method of accounting for student organization funds because they create records of all transactions. It is recommended that organizations obtain an independent checking account for all funds collected for the organization outside of Student Government funding. All accounts must be placed in the organizations name, which can be done with a tax identification number and should require at least two signatures (officer & advisor) on each check.

To apply for a Tax ID number, visit the IRS website . If your organization needs assistance, contact the SGC/RSO Program Associate for guidance.

 

Financial Reports

Every RSO MUST submit a monthly A&S Fee budget report to the SGC Finance Chair and the SGC/RSO Program Associate on or before the 15th of the following month using the format designated by SGC.

RSOs MUST submit an annual Off-Campus account report to the SGC Finance Chair and the SGC/RSO Program Associate on or before May 15 to be used to help determine if the organization met the 10 percent revenue requirement for the fiscal year.

Organizations that fail to submit the required financial reports are barred from requesting funds until such matters are handled accordingly.

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