Article VI – Student Government Finances

Article VI – Student Government Finances

Section A. Source of Funds

1. Student Government funds shall come from, but not be limited to, the Student Government portion of the General Fee.
2. Revenues collected by any branch or agency of Student Government as a result of normal operations shall remain under the control of that branch or agency.
   

Section B. Categories of Funds

1. Student Government funds shall be separated into the following categories:
   • Executive Cabinet
   • Senate
   • LeTourneau Student Ministries (LSM)
   • YellowJacket Activities Council (YAC)
2. Funds from one category shall not be kept in the same account with funds from another category.
3. Each branch may transfer or allocate funds only from accounts in its category.
   

Section C. Automatic Allocations

1. Automatic allocations shall occur when funds are received by the Student Government. Funds that are not automatically allocated shall be placed in the legislative accounts.
2. Compensation shall be allocated automatically. Compensation for all Student Government officers shall be determined by the Constitutional Bylaws Article I Section D. The total compensation for all officers shall not be more than 40% of the total amount of funds allocated to Student Government. Compensation shall be in the form of a participatory merit stipend. If a position becomes vacant, compensation shall be prorated according to time spent in office.
3. The Executive Cabinet shall be allocated funds automatically. These funds shall be determined by the Constitutional Bylaws Article I Section B and shall not be less than 1% or greater than 5% of the total funds allocated to Student Government.
4. LSM and YAC shall be allocated funds automatically. These funds shall be determined by the Constitutional Bylaws Article I Section B and shall not be less than 5% or greater than 25% per agency of the total funds allocated to Student Government.
   

Section D. Expenditure Planning

1. The Executive Cabinet, LSM, and YAC must each submit a budget to the Senate no later than the second Senate session after the beginning of the fiscal period as defined by the Constitutional Bylaws Article I Section A.
2. If no proposed plan of expenditures is received from a branch by the second Senate session after the beginning of the fiscal period, then the Senate shall not allocate funds in addition to those automatically allocated to that branch for that semester.
3. The Senate must pass a general allocation bill by the second session after the Student Government receives funds from the University to provide for the additional needs of each branch that is presenting a proposed plan of expenditures.
4. Each branch shall have financial records ready to be audited at any time by request of the Administration, the Executive Cabinet, or Senate.
5. The Executive Cabinet, LSM, and YAC shall provide a financial report to the Senate at least once a semester.
   

Section E. Transfers, Allocations, and Expenditures

1. A transfer or allocation of funds by the Executive Cabinet shall require the signature of the Student Body President.
2. All transfers or allocations of funds by the Senate shall be in the form of a bill and shall be enacted by the Financial Appropriations Committee (FAC).
3. A transfer of funds by a branch for an event, the total cost of which shall not exceed the amount determined by the Constitutional Bylaw Article I Section E, must be approved by a resolution in the Senate. This approval shall occur at least two weeks before the proposed event.