Dickinson Town Council
Dickinson Town Council Financial Procedures
I. The Budget Meeting
A. The budget meeting shall be held in mid October or at the earliest possible time that the following conditions exist:
1. Council has had 3 regular meetings where members of DTC may have established voting rights.
2. Hall presidents and committee chairs have been elected and are therefore eligible to vote.
3. A pre-budget meeting has been held to assemble and present to the council a proposed budget.
B. The budget meeting shall be called at least one hour earlier than the regular meetings on the night it is to be held to allow ample time for debate on individual budget items.
C. The week after the proposed allocation is released the budged shall be considered Old Business.
D. The rules may NOT be suspended. The budget may NOT be voted on prior to the announced budget meeting.
E. All committee chairs, e-board members, and hall presidents all be required to be present at the budget meeting.
II. The Pre-Budget Meeting
A. The pre-budget meeting shall be held at least one week prior to the budget meeting.
B. The pre-budget meeting shall be called at least one hour prior to the DTC e-board meeting.
C. The CFO shall estimate the allocation from the SA prior to the budget meeting.
D. Each e-board member shall be given a worksheet containing the estimated allocation from the SA and the allocation amounts from the preceding year at the start of the pre-budget meeting.
E. All committee chairs shall be asked to attend the pre-budget meeting to discuss reasonable allocations for their committees.
F. E-board members shall agree on reasonable allocations for committees with total allocations not to exceed the estimated allocation from the SA.
G. The committees receiving allocations at the budget meeting include the following:
1. Academic Committee (DTC Academic Vice President, chair)
2. Capital Improvements (a fund to improve co-rec fields, etc.)
3. Commencement (financial support for a commencement ceremony to be held in the spring)
4. Co-Rec (co-rec coordinator(s), chair(s))
5. Darkroom (darkroom manager, chair)
6. D. C. Players (D. C. Players’ chairperson, chair)
7. Executive Committee (DTC President, chair – fund to be used for phone bills, photocopies for elections, etc.)
8. Old Business (a fund used to pay unpaid bills left over from the previous year)
9. Residence Halls (a single hall president, acting chair – funds to be allocated as a block with each hall receiving the same amount)
10. Frontal Lobe (Frontal Lobe editor, chair)
11. Pseudopod Committee (Pseudopod manager, chair)
12. Rime Cellar (Rime Cellar chairperson, chair)
13. Semi-Formal (DTC Social Vice President, chair – funds to be used for the Dickinson Semi-Formal to be held in the Spring)
14. Social Committee (DTC Social Vice President, chair – funds to be used for social events within Dickinson during the year)
15. SIH (one representative from a special interest housing module, acting chair for all modules – funds to be allocated as a block with each module receiving the same amount)
16. Yearbook (Yearbook editor, chair)
17. Mutant Mania (Mutant Mania coordinator(s), chair(s))
18. RA Council (RA Council president, chair)
19. Unallocated (all left over funds to be distributed later)
H. At the conclusion of the pre-budget meeting the proposed allocation for each group shall be announced at DTC as New Business and shall be distributed to hall presidents. The allocations shall be posted in hall lobbies. Additional copies of the proposal shall be made available upon request.
III. Procedures for the Budget Meeting
A. Guaranteed Voting Rights
1. Each e-board member shall have one vote with the exception of the chair (the parliamentarian) who shall vote only in the event of a tie.
2. Each committee shall have one chairperson who shall have one vote.
3. Each hall shall have one president who shall have one vote.
4. Each floor in each residence hall shall have one representative who shall have one vote.
5. Each member of council who shall have attended three consecutive meetings shall have one vote, provided said member is permitted to vote on fiscal matters.
B. Budget items shall be voted on individually.
C. The chair shall announce the name of the committee and proposed allocation on the floor.
D. The committee chair shall be called upon to speak about what the funds will be used for during the year. The committee chair shall have no more than two minutes to make the presentation.
E. Any questions (within reason) shall be fielded by the committee chair from the council.
F. Three additional bids shall be obtained from the council. The bids must be at least $25 apart. Each bid must be seconded to be put to vote. No zero bids shall be accepted.
G. A speakers list consisting of three speakers for (advocating the proposed amount or higher) and three speakers against (advocating lower than the proposed amount) shall be obtained by a show of hands. If there are no speakers on one side of the issue the speakers list for the opposing side shall be shortened to only two speakers. In such an event, the last speaker added to the list shall be dropped unless another speaker requests removal from the list.
H. Each speaker shall be given one minute to speak. The speakers shall alternate for, against, for, against, for, against. The first speaker named to the list shall be given first opportunity to speak.
I. The council shall vote on the bids starting with the highest bid seconded. The first bid to pass (obtain a simple majority vote) shall be allocated to the committee. In the event no bid passes the amount allocated shall be zero.
J. The CFO shall maintain a running total of the unallocated funds. The unallocated total shall be announced to council prior to bidding on each budget item.
K. Sections B, C, D, E, F, G, H, I, and J in this article may be suspended by a 2/3 vote of council and the following procedure may be followed:
1. All sections must be suspended together.
2. Upon suspension of the rules, the budget proposal will be treated as regular business of the council.
3. The proposal will then be debated and voted on as-is, with no additional bids allowed for any allocation
4. Any suspension of the rules must be done previous to debate on any specific budget item.
5. If the budget fails, then the suspension of the rules will be lifted, and the budget determined by the procedure outlined in Article III of these bylaws.
IV. Duties of the CFO
A. The CFO shall be responsible for keeping an updated budget of all financial activity of the community.
B. Only the elected CFO shall be allowed to carry out the financial procedures of the community.
C. At the beginning of each semester, the CFO shall conduct a mandatory instructional meeting for all treasurers. The meeting shall cover all financial rules outlined in this document and the Treasurer’s Handbook and shall illustrate and explain the duties of the treasurer position. Only new treasurers shall be required to attend the spring instructional meeting.
D. The CFO shall update the Treasurer’s Handbook at the beginning of the school year and whenever necessary.
E. The CFO shall be responsible for balancing the General Ledger with the sub-accounts and also with the SA records at least twice during each semester. The General Ledger must be balanced once in the first two months and once at the close of the semester.
F. The CFO shall be responsible for assuring that the sub-account balances are consistent with the records of the individual committees and halls.
G. At the request of Council or the executive board, the CFO must supply information about the status of any and all sub-accounts and the General Ledger.
H. The CFO shall commit to processing all properly completed paperwork within three business days after receiving it.
I. Upon vacating office, the CFO shall leave a written report explaining any abnormal entries or situations which may affect his or her successor.
J. The CFO shall recommend the freezing of group(s) funds to ensure the smooth financial running of DTC. A majority vote of the executive board shall be required to freeze funds.
K. The CFO may appoint a member of the community to act as Assistant CFO and delegate responsibilities to him or her.
V. Duties of the Assistant CFO
A. The Assistant CFO may not sign any forms or authorize transactions in any way.
B. The Assistant CFO shall assume the responsibilities of the CFO if the position becomes vacant until elections may be held according to the DTC constitution.
VI. Duties of a Committee Treasurer
A. In the absence of an elected treasurer or an appointed treasurer, the committee chair or president shall assume the duties of the treasurer.
B. The treasurer of the committee is responsible for following all the rules outlined in this document, as well as in the Treasurer’s Handbook, distributed at the beginning of each year.
C. Only the treasurer of a committee shall be able to process paperwork for the committee, all of which must be processed through the CFO.
D. The treasurer shall be made aware of all expenditures of the committee to maintain the accuracy of the books.
A. Sub-accounts will be set up by the CFO. These include committees funded at the budget meeting and others as necessary to ensure the smooth running of DTC. All sub-accounts must be established and funded by the council.
B. Temporary sub-accounts (Holding Accounts) may be set up in Unallocated to hold money for a program or another similar purpose as necessary.
A. Any hall that does not make quorum for three consecutive DTC meetings will have their funds frozen until the next meeting where they have quorum.
B. In the event of fraudulent quorum (a residence hall claims to have quorum when they do not) the executive board shall have the power to decide on a suitable punishment. Decisions shall be made on a case by case basis.
IX. Freezing Funds
A. Once funds are frozen, NO financial paperwork can be submitted, including prior approvals and vouchers; outstanding deposits must be made by the CFO, however.
B. Groups with frozen funds shall lose their privilege to charge on DTC accounts such as the Print Shop, Cold Copy, etc.
A. All deposits shall be turned over to the CFO within 24 hours of receipt.
B. Failure to turn in deposits within 72 hours will result in the freezing of the funds of the group.
C. The CFO must deposit money on the next business day after receipt.
D. Special arrangements due to extraordinary circumstances may be made in advance at the discretion of the CFO.
XI. Charging on Account
A. DTC has accounts on campus including, but not limited to, the Print Shop, Cold Copy, the Bookstore, Marriott, and Pipe Dream.
B. The treasurer of the group shall notify the CFO in writing of all charges on DTC accounts within one week of incurring said expense.
C. Failure to notify the CFO of expenditures on credit shall result in a charge for any expenses incurred in obtaining logs (i.e. cost of copies) and a warning.
D. A third warning shall result in the loss of DTC credit privileges for the remainder of the semester.
E. Unauthorized use of the DTC accounts shall result in the freezing of funds for 14 days.
F. Exceptions can be made due to extraordinary circumstances at the discretion of the DTC executive board.
A. The CFO shall be notified in advance of any fund-raisers.
B. Only the NET of the fund-raised money may by donated to non SA groups. The group receiving the funds must be clearly advertised at the fund-raiser.
C. Only the NET of the fund-raised money may be rolled over to the following school year.
XIII. Internal Transfers
A. Internal transfers between sub-accounts must be accompanied by a letter explaining the transfer and noting the amount of the transfer.
B. Internal transfers are subject to the approval of the DTC executive board.
XIX. Resignation of Committee Chairs
A. Upon resignation of a sole committee chair the remaining funds in the sub-account shall be frozen for ten days, or until a replacement committee chair is installed according to the DTC constitution.
B. If a new committee chair is not installed within ten days, all remaining funds shall be transferred to Unallocated.
C. Extensions on this time period may be made at the discretion of the DTC executive board.
D. Paper work may be processed even if funds are frozen at the discretion of the CFO.
XX. Purchase Orders and Vouchers
A. Unused Purchase Orders must be turned in within two weeks of issue date.
B. Vouchers for Purchase Orders must be turned in no more than four days after use.
C. Purchase Orders must be used within two weeks of issue.
D. If any of the above rules are broken the group shall not be allowed to obtain Purchase Orders for the rest of the year.