FIscal Closing 2009 !

Fiscal Closing is well under way. As our office works to continue process check requests and cash reimbursements we ask for your patience. As of Monday June 15, 2009 roughly 90% of requests have been processed and sent to Accoutns Payable. Please allow three to four weeks to receive your reimbursements in the mail. If you received an "Unprocessed Request" email we ask that you submit all requested information as quicly as possible.

Thank you,
SAFAC

Top 10 Frequently Asked Questions

1. What is SAFAC?

   SAFAC stands for the "Student Activity Fee Allocation Committee". This committee is made up of 17 full-time undergraduate students, 1 staff liaison from the Division of Student Life, and the SAFAC Advisor. This committee exists to distribute the student activity fees collected each year to recognized student organizations at Drexel University Main Campus. SAFAC is made up of 17 students:

   • 14 students which are chosen through an application process (13 liaisons, 1 chair)
   • 1 representative from the USGA (Generally the Student Org Representative)
   • 1 Club Sports Council liaison (chosen by the club sports council)
   • 1 Fraternity & Sorority Life liaison (chosen by the Office of Fraternity & Sorority Life)

2. What is an Annual Allocation?

   One of the ways that SAFAC distributes student activity fees is called the Annual Allocation Process. This is the process where student organizations can apply for a full fiscal year budget. Students can be funded in three different categories:

   • Capital
   • Activity
   • Conference

3. How do I apply for an Annual Allocation?

   Undergraduate student organizations which are recognized by February 28, 2009 can apply for Fiscal Year 2010 allocations. Click on the Annual Allocations Box at the top of the home page to access all the information you'll need to apply.

4. What is Reserve Funding?

   Reserve Funding is a pre-determined amount of money placed into a holding account. This money can be applied for by brand new student organizations which were created and recognized after the Annual Allocation process. This money is applied for on an event by event basis.

5. How do I apply for Reserve Funding?

   Your organization must complete a Reserve Funding Application which can be found on our website under the Funding tab. All applications can be turned in at safac@drexel.edu or in person in the Greenawalt Student Development Center room 32"A". Reserve Funding Applications should be submitted 4 weeks in advance. Applications will be reviewed on a first-come, first-served basis until the money has been exhausted.

6. Who is eligible to apply for funding?

   Funding can be applied for by any undergraduate recognized student organization at Drexel University Main Campus. Money may only be requested by students and can only be spent on students of recognized undergraduate student organizations. At no time may faculty or staff apply for funding or be funded from the undergraduate student activity fee.

7. How much money will my group get if I apply?

   If your organization applies through Annual Allocations, you will be guaranteed a base operating expense of $500.00. Beyond the base operating expense, the amount an organization receives in Capital, Activity, or Conference expenses varies depending on the items asked for and whether or not SAFAC feels the items requested meet the mission of the organization or will benefit the students of Drexel University.

   Groups applying through Reserve Funding are not guaranteed funding. Funding will be decided on a case-by-case basis.

   Some funding limits may apply. These limits can be found in the "Funding" section of the website. Above all, it is important to remember that SAFAC is a subsidizing funding source for undergraduate student organizations. At no time should any student organization expect to be fully funded for their events.

8. What is the funding cycle of SAFAC?

   SAFAC funds student organizations based on the fiscal year of Drexel University. The fiscal year starts July 1 of one year and ends June 30 of the next year.

   Example: FY09 – July 1, 2008 through June 30, 2009
   FY10 – July 1, 2009 through June 30, 2010

   Student Organizations will not be able to process transaction with their SAFAC Account after June 5, 2009 of the current fiscal year. Any money left in a student organization account that was given by SAFAC will be returned to SAFAC.

9. What happens if my student organization goes into debt?

   SAFAC encourages fiscal responsibility among all of the undergraduate student organizations. As such a variety of resources are made available on our website.

   Any student organization which does go into debt for any reason will be placed on immediate interim suspension until the debt can be resolved. There are many reasons to why student organizations go into debt such as departments not transferring money into your accounts, being accidentally charged by Drexel University departments, or by simply over spending.

   Any student organization that is placed on interim suspension will be unable to reserve space, access money in either their 17-SAFAC Account or 71-Rollover account or receiving catering for events.

10. What other funding sources exist for my organization besides SAFAC?

    There are a few other funding sources that you can apply to outside of SAFAC. This includes:

    • Late Night/ Weekend Programming – offered by the Office of Campus Activities. More information can be found on their website at drexel.edu/oca
    • Alumni Grant – Offered through the Office of Alumni Relations. More information can be found on their website at drexel.edu/ia/alumrel/alumni_grants.asp
    • Commission for Activities & Programming (CAP Funding) – offered through the Office of Retail Management. The application can be found at drexel.edu/studentlife/oca/downloads/CAP_Form.doc