Closing the Books at the End of the Year
The University's fiscal year runs from July 1st thru June 30th. All clubs must report to SABO all outstanding bills that have not been paid by June 30th. Funds will then be reserved to guarantee payment for all outstanding bills. If no notification is received, payment for the purchase will come from the following academic year budget.
If a club's bills for payment are received after the end of the academic year and insufficient funds remain in the club's SGA budget account at June 30th, they will be paid and deducted from the club's fundraising account or SGA budget account for the following academic year.
Fundraising Carry over for SGAF Clubs
At the end of the fiscal year, any residual fund raising funds that clubs have raised will be carried over into the next fiscal year. Funds allocated from BAM or other funding sources will not be carried into the next fiscal year. All unused allocations from BAM will revert back to the SGA.