2020-B-12 Fiscal Policy and Governing Documents AMENDED
FOR OFFICE USE ONLY
Yes: ____ No: ____ Abstain: ____
First Reading: __________________
Second Reading: __________________
ASMSU Senate Speaker
Effective Date: __________________
Sponsor: Kacie Cummings
Co-Sponsors: Rachel Schmidt
Vote Required: Majority
Sections: XVIII-i through XXIII
Intent: To improve structure and clarify language in articles XVIII through XXIII.
ARTICLE XVII. FISCAL POLICY
The ASMSU Senate shall oversee the expenditure of ASMSU funds with the advice and
recommendations of the ASMSU Finance Board. No expenditures shall be made from these
funds for purposes outside the legitimate activities of ASMSU or its campus partners.
Finance Board XVII-ii
The Finance Board may recommend any fiscal, operational, or management change to any budget or request. It shall be the function of the ASMSU Finance Board to review all financial requests made of ASMSU and make budgetary recommendations in accordance with the Bylaws. ASMSU Finance Board members shall serve a term of one year, coinciding with the academic year.
Funded Organizations XVII-iii
For an organization to receive funds annually from ASMSU, the organization must be a recognized operation or campus partner of ASMSU.
Senate Fiscal Powers XVII-iv
If the ASMSU Senate wishes to override a Finance Board recommendation for existing ASMSU organizations, or fund an entity without a Finance Board recommendation, they must do so by a two-thirds majority vote of the ASMSU Senate. The ASMSU Senate has the right to overrule all budgetary recommendations.
ARTICLE XVIII. ASMSU FUNDS
Operating Funds XVIII-i
ASMSU shall have an Operating Fund, which consists of total annual projected activity fee revenues. The Operating Fund shall be used to finance annual operating expenses of ASMSU. Appropriations shall be made annually.
Reserve Fund XVIII-ii
ASMSU shall have a Reserve Fund, which consists of a percentage of the Operating Fund, as outlined in the Bylaws. The Reserve Fund shall be used to finance unforeseen costs of an unusual, extraordinary, or expensive nature. If the Reserve Fund drops below its specified amount, it must be replenished within three years.
Supplemental Fund XVIII-iii
ASMSU shall have a Supplemental Fund, derived from the Operating Fund, consisting of a specified amount determined by the ASMSU Senate during the annual budgeting session. The Supplemental Fund shall be used to fund ASMSU activities and programs that the ASMSU Senate believes will substantially benefit or support ASMSU members.
Presidential Discretionary Fund XVIII-iv
ASMSU shall have a Presidential Discretionary Fund consisting of a portion of the annual projected activity fee revenues, as defined in the ASMSU Bylaws. It shall exist to finance all matters deemed worthy by the ASMSU President. All expenditures shall be reported to the ASMSU Senate following the expenditure. Unspent monies in the ASMSU Presidential Discretionary Fund shall roll over into the Reserve Fund at the end of the term of the ASMSU President.
ARTICLE XIX. GOVERNING DOCUMENTS
The ASMSU Constitution shall outline the general rules and operations of ASMSU. ASMSU Officials, duties, programs, and operations shall be further outlined in the ASMSU Bylaws. If the two documents are found to be in conflict, the ASMSU Constitution shall take precedence. It is the duty of the ASMSU Supreme Court, as outlined in section XIV-ii, to interpret these governing documents.
Constitutional Amendments XIX-ii
Amendments to the ASMSU Constitution may be proposed by a bill of the ASMSU Senate or by the Student ballot initiative and referendum processes described in sections IV-iii and IV-iv, respectively. If passed by a majority vote of the ASMSU Senate and ratified by a majority of Student voters, the amendment shall be become part of the ASMSU Constitution effective immediately.
Bylaw Amendments XIX-iii
Amendments to the ASMSU Bylaws may be implemented by a bill passed by the ASMSU Senate or by the Student ballot initiative and referendum processes described in sections IV-iii and IV-iv, respectively.
ARTICLE XX. RESOLUTION
A resolution is a formal statement of the ASMSU Senate that expresses a desire, opinion, sympathy, or request. A resolution does not have the force of law. Resolutions require a majority vote of the ASMSU Senate to be passed.
XXI. ELECTIONAll Students registered for one or more credit shall be permitted to vote in any ASMSU election.