Last updated 12/16/2020
A "revenue producing event" is defined as any event/activity where money is collected either through ticket sales, monetary contributions, admission fees, or donations.
As indicated by the Fundraising Guidelines, groups may charge entrance fees for an event if they then reimburse all seg-fee funding used to support that event.
Putting on a revenue-producing event is simple in theory but requires careful planning. The processes involved are strictly enforced and group leaders should anticipate extensive communication with the SSFC Financial Specialist and ASM Funding Advisor as well as budget personnel from the Division of Student Affairs.
It is important to note that the rules for allowable expenses do not change for revenue-producing events, so anything that could not be purchased normally cannot be purchased to put on a revenue-producing event.
- If the amount of the revenue collected is equal to, or exceeds the amount of the expenses paid for by funds from the SSFC, the GSSF account must be paid back in full prior to paying any other expenses or giving donation money.
- If the amount of the revenue collected is less than the amount of the expenses paid by the GSSF organization, all dollars collected would be redeposited into the GSSF account. Expenses that exceed the income amount would be the organization's responsibility from other funding sources.
- If the event raises more money than was initially used from the GSSF organization account, the organization has the option to either deposit the excess funds in the GSSF account or in their own student organization off-campus bank account. If the excess funds are deposited in the GSSF account, the funds will become part of the State Treasury and need to follow purchasing guidelines when the dollars are re-spent. GSSF funds do not carry over from one fiscal year to the next. Therefore if you do deposit the funds in the GSSF account, they would be spent in the same fiscal year they are deposited or they would be lost. If the GSSF organization establishes an outside student organization account with a local bank, there are no restrictions on how the funds could be used.
Prior to and after the even, the organization should:
- Inform the SSFC Chair and SSFC Financial Specialist of plans to hold a revenue-producing event.
- Meet with the Budget Personnel from the Division of Student Affairs to discuss revenue producing plans at least 30 days prior to implementing them. At the time of this meeting, you will provide an estimated budget of the projected income and detailed expenses for the revenue producing event. Identify which expenses would temporarily be supported by the GSSF organization account.
- Inform the SSFC Financial Specialist which requisitions or business forms are being processed to support the fundraiser. Keep copies of all business forms processed.
- Within 30 days following the event, meet with the Dean of Students Budget & Personnel Director with a final budget reconciling what the actual income/expenses were from the fundraising event. This detailed report would list all revenue collected from ticket sales, GSSF accounts, and/or other University and non-University organization or individual contributions other than ticket sales.
- Provide copies of all invoices/receipts for the revenue producing event.
- Provide a check in the amount of the revenue initially used from the GSSF account so it can be re-deposited into the GSSF account.
- Be prepared to submit detailed reports to SSFC during any end of the year reporting requirements or renewal funding requests and/or respond to committee member hearing questions.
- Revenue producing events initially supported by GSSF must be ticketed events sold only by a ticketing agency such as the Union Box Office verses selling tickets at the door. The Union Box Office provides the necessary box office confirmation of actual sales.