Your Budget

Managing your organization’s finances is an essential to the group’s success. This section will provide some basic tools to help you ensure your organization stays in good financial standing. All organizations that receive CSI funding receive the following benefits:

• Tax-exempt status for purchases pre-arranged with CSI
• Ease of purchasing goods and services from campus vendors
• Historical record-keeping of purchases and deposits
• Security of funds

Developing a budget

Budgets are initially developed when your club is first registered. A new budget is granted for each academic year during the club renewal process. It is best to have all members of your club leadership work together on your budget to limit the possibility of missing possible expenditures or revenue sources. If you are a renewing club that has had a budget before, your Google budget spreadsheet may help you predict your financial activity.

Your budget should be realistic and conservative. You should account for income and expenses. Income could include monies generated from ticket sales, fundraising, departmental contributions (not including CSI) and other planned revenue sources. To be conservative, add up all your planned income and subtract 20% of the gross in case everything doesn’t come through. Not all clubs will have income, and it is not required that you do.

Expenses include any money that you plan to spend throughout the course of the year. Project expenses for all events, big and small. Remember to include expenses for Block Party and mid-year club fair, Public Safety details (when required), posters and promotional materials and supplies.
Once you have developed thorough lists of income and expenses, subtract your total income from your total expenses. The difference is the amount of money you need to request from CSI or raise via fundraising.