What is contingency funding?
Each year, SAC reserves a portion of its total budget for contingency funding. Think of contingency funds as a source of “a-la-carte,” as-you-need-it SAC funding. Should your group decide to host an event or undertake a project that requires funds not already included in your budget for that year, you may want to consider submitting a contingency request.
My club is planning an event. When should I submit a contingency request?
SAC Exec recommends submitting your contingency request as soon as exact costs are known for your event/project. However, it is strongly recommended that contingency requests be submitted at least one month prior to the scheduled event. This gives SAC Exec enough time to review the request and ask any supplementary questions in reaching its final recommendation. You should be equipped with figures and estimates from vendors in accordance with the SAC Funding Guidelines.
My contingency request has been reviewed by SAC Exec, but I am dissatisfied with the SAC Exec’s recommendation. Can I appeal?
Yes. As long as your request was not “emergency contingency,” you may appeal SAC Exec’s recommendation at the next SAC GBM.
What does “emergency contingency” mean?
Should your contingency request pertain to funds needed before the next SAC GBM, it will be deemed an “emergency contingency.” Your request will be reviewed and voted upon by the executive board. Decisions made on emergency contingencies cannot be appealed to the General Body.
Can I submit a contingency request to cover funds for a past event?
No. SAC does not fund groups retroactively. Please plan accordingly and submit your contingency requests before the date of your event.
Is contingency funding guaranteed?
No, approval of contingency funding is never a guarantee. SAC Exec makes every effort to provide funding for activities that are deemed essential to a group’s mission but at no time can SAC guarantee that funds will be approved. Contingency funding should be viewed as a potential source of funding but not the sole source of funding. Groups are highly encouraged to pursue alternative sources of revenue to cover the cost of activities.
How to Submit a Contingency Funding Request:
- Read the SAC Funding Guidelines.
- Log in to SAC Online.
- From the lefthand menu, select Budget Request → Start the Budget Request Wizard → Request contingency funding for the current school year (20XX-20XX) → Begin New Contingency Request. Note that once you start a contingency request, you can log off and edit it later.
- Fill out all of the details regarding your request, including date, location, number of people attending, speakers, etc., then select Continue to Activities.
- Select Add a New Activity and fill out the appropriate information. Each activity serves as a category under which you will submit an itemized list of expenses. Select Save Changes when finished.
- On the following page, you will be prompted to add budget items to your request. Select one of the ten budget categories for each item from the drop-down menu. You must also report any expected revenues/non-SAC expenses for the activity. Select Save Changes when finished.
- Continue to add all relevant activities and items. When you are finished, select Return to Activities List → Generate Budget Request.
- Set up a meeting with SAC Exec by emailing email@example.com.