Funding for student organizations comes largely from the Student Activity Fee (SAF). The SAF is collected by the college and distributed through SOFC. This graph shows the ways the SAF is allocated through the various funding systems. The total SAF collection is approximately $500,000. The percentages allotted to each funding system are stipulated within the SOFC constitution.
The largest percentage of the SAF (39.29%) goes directly to Honorariums. Honorariums do not have to apply for this funding, but it is rather guaranteed through the constitution. This year, honorariums received about $172,000.
Spring Budgeting received the second largest percentage of the SAF (32.43%). This year, Spring Budgeting received just over $142,000. All organizations which have been SOAC constituted for one full year are eligible to receive Spring Budgeting. Organizations are expected to apply for funding for the full calendar year in Spring Budgeting, with the exception of lectures and capital goods.
The reason lectures are not funded through Spring Budgeting is that they have a separate funding system called Lecture Funding. Lecture Funding receives the third highest percentage of the SAF (18%). This year, almost $79,000 was dedicated to bringing lectures to the campus through this funding process.
Emergency funding is designed to fund new organizations, organizations which received no money in Spring Budgeting and, with any remaining money, organizations which received Spring Budgeting but require more funding. It is funded on a tier system. There are two Emergency Funding deadlines throughout the year and they receive 8% of the SAF combined, totaling just over $35,000.
The final funding process is specifically for capital goods and is called Uniquely Compelling. Uniquely Compelling uses a random lottery system to distribute $10,000 worth of capital goods to Student Organizations. This year, $10,000 equated 2.28% of the SAF.
A distribution of the SAF is also made to the Bursar's Office Account, which comprises 2% of the SAF. This money goes to paying for staff, supplies, checks and other expenses required for the operation of the office.