FinCom

Financial Compensation Committee is a panel of students who represent the student body of Adrian College.

FinCom is governed by the Student Government Association (SGA), chaired by the Treasurer of SGA, and advised by the Director of Residence Life. The FinCom Committee reviews and evaluates funding requests from all recognized organizations and then allocates an amount based on the FinCom constitution, available funds, and the request’s adherence to evaluation criteria.  FinCom allocates up to 45% of the annual student activity fees to student organizations.

FinCom also encourages student organizations to work together to provide activities for the college community. By combining efforts, skills, abilities, and allocations from various student groups, more students will be involved and benefit in a greater variety and number of activities.

Request Procedure

To be able to apply for Fincom, the following procedures must be adhered:

Request Forms

• Forms are received via email to eligible student organizations during the FinCom evaluation time period.
• Forms are to be submitted to the Director of Residence Life in accordance with published deadlines.
• Forms must be typed and complete or they will not be evaluated.
• If the proposed event is on campus, the organization is responsible for scheduling facilities through the Director of Conferences and Campus Programs (Valade Hall, x3156).
• Completed forms will be processed for allocation.

Evaluation Criteria

The organization must…

• Be a registered student organization on campus.  This includes having forms completed, updated roster, and updated constitution on file in the Office of Student Activities. 
• Demonstrate financial accountability
• Show evidence of fundraising efforts, membership dues, and/or gifts
• Cover 20% of the requested funds if the request is under $1000; 30% if over $1000.
• *Note: FinCom does not pay for food, advisors, nor graduate students.

The activity must…

• Be of value within the context of Adrian College in respect to diversity.
• Provide social, recreational or cultural enrichment for the entire campus community and/or
• Provide developmental, educational or spiritual enrichment of the entire campus community and/or
• Provide positive exposure and/or goodwill in the name of Adrian College on a national, state or regional basis.

The form must

• Be fully completed and typed.
• Have the endorsement of the organization advisor.

Submission Periods

Allocation periods will occur twice a semester in preparation for the months ahead.  Organizations are required to present to the committee regarding their application.  The voting will occur immediately after, assuming quota is met.  The presenter, and anybody with a connection to the organization will step out when this occurs.  The advisor and chair will not vote unless it is a tie.  Allocation approval or denial will be emailed to the presenter.

Receiving Disbursement

• Funds will be accessed on a per-event basis. Funds are not automatically transferred to agency accounts.
• Contact the FinCom Advisor by the funding deadline. This deadline can be found in the email sent to the organization president and Advisor after FinCom Presentations.
• Maintain all receipts for accounting purposes.

Financial Responsibilities

Any organization that financially obligates itself—whether through a member or officer—for services, merchandise or facilities (on or off campus) does so in the name of the organization and its members. Adrian College is not responsible in any way for debts incurred by an organization or its members.