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| IS - 2510 Student Government Funds | Administration Release Date: 2/12/98 |
| Policy | |
Student Government is funded by a portion of the registration fee charged to each student. This fee is collected by Central New Mexico Community College (CNM) on behalf of students for expenditure by student government per Governing Board annual resolutions. Although budgeted and recorded in current funds, CNM considers these revenues to be agency funds, not state funds, and therefore not subject to the same limitations.
1. Student Fund Appropriation2. Use of Student Funds1.1 The Governing Board authorizes student fund collection in the annual tuition fee resolution that states a portion of the registration fee is collected on behalf of student government.
3. Accounting of Student Expenditures2.1 Student funds may be expended for food and other entertainment.
2.2 Student government funds may be used for stipends, financial aid, gifts, memberships, awards and other expenditures for which state funds cannot be used.
2.3 To maintain the flexibility of expending student funds, CNM cannot assert a significant level of control over the expenditures. If the CNM administration or the Governing Board does exert control, the funds must then be considered state funds and subject to all appropriate limitations.
2.4 The associate vice president for student services or a designee may disapprove any expenditure that is illegal, that would not be in the best interest of students in general, or that would clearly violate the tenet of good judgment. For example, the purchase of alcoholic beverages is an example of an expenditure that CNM cannot reasonably allow.
The decision of the associate vice president may be appealed in writing to the president of CNM.
4. Expenditure Process3.1 CNM administration is obligated to account for all expenditures of student government funds by requiring accurate and complete documentation, assuring that all required approvals have been secured, limiting expenditures to the total amount of revenues available, and auditing to assure compliance with procedures and adequate internal controls.
3.2 CNM's Student Services Administration has an obligation to review expenditures to assure that the students do not exceed available funds, and that expenditures comply with regulations adopted by student government.
5. Definitions4.1 Any student organization requesting goods and services, or a pre-payment approval, must go through a pre-audit and approval process involving the Business Office and Purchasing.
Some vendors allow billing while others require pre-payment before they will provide goods and services. Student organizations should not retain services or purchase goods without obtaining the appropriate approvals and completing the pre-approval and purchase requisition process.
| Agency Funds | Agency funds are monies held by an institution acting as custodian or fiscal agent. The monies are deposited with the institution for safekeeping, to be used or withdrawn by the depositor at will. These funds may be held on behalf of students , faculty, staff or CNM organizations. When agency assets are immaterial in amount, the assets and liabilities may be reported as assets and current liabilities of the current fund group. Typical examples of agency funds are deposits by student organizations. |
| Student Government Funds | Fund allocation that is authorized by the CNM Governing Board and collected from fee payments made by students during the registration process. |
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| Forms: | Not Applicable |
| Support Materials: | IS-1808, Purchase Requisition |
| Reference Materials: | CNM Student Handbook |