Government Bill 20

A BILL TO BE ENTITLED

AN ACT TO ALLOW FOR THE REALLOCATION OF

A PORTION OF UNEXPENDED FUNDS FROM EACH YEAR TO STUDENT GROUP ALLOCATIONS OF THE FOLLOWING YEAR

WHEREAS, the demand by student groups for funds exceeds by far Student Government’s capacity to fulfill those demands; and,

WHEREAS, the total amount requested by student groups for funding of activities in the 2001-2002 academic year was $219,550; and,

WHEREAS, the total amount allocated for funding of student group activities in the 2001-2002 academic year was $60,000, an amount accounting for twenty-seven percent of total requests for that year; and,

WHEREAS, the total amount currently budgeted for funding of student group activities is $64,000; and,

WHEREAS, the university’s minimum recommended percentage for a reserve fund is 17% of unexpended funds; now, therefore be it

ENACTED, by the North Carolina State University Student Senate that:

Section 1. The Student Body Statutes shall be amended by striking §5-1.13 and inserting:

§5-1.13. Unexpended Funds Reappropriation.

At the end of each fiscal year twenty percent (20%) of the net unexpended funds shall be automatically budgeted to the following fiscal year's student organization appropriations, equally divided between semesters. The "net unexpended funds" shall be defined as the total unexpended funds minus the total funds spent from the trust fund in past fiscal year, but shall never be considered negative

§5-1.14. General Trust; composition.

The General Trust shall be composed of:
    1. monies from the Student Body Funds not expended during any fiscal year, minus the Unexpended Funds Reappropriation; and
    2. monies required to remain as an ending fund balance by the University Office of Finance and Business.

Section 2. This act shall become effective upon enrollment.

I hereby certify that this bill was read twice and adopted by consent in the North Carolina State University Student Senate, this 6th day of September 2002.

 

______________________________________________

Joshua C. Cox

Student Senate President

 

I hereby signify my approval of this bill as adopted by the North Carolina State University Student Senate, this _______ day of ____________, 2002.

 

__________________________________________

Michael D. Anthony

Student Body President