Part 1: Definitions
Subpart A: Student Organization. Clubs and organizations that have been formally recognized by the Lake Superior College (LSC) Student Senate and approved by the college president.
Subpart B: Student Life/Activities. Student life/activities are activities consistent with M.S. 136F.01. Subd. 5.
Subpart C: Stipend. A stipend is equal to the cost of one Minnesota resident credit not including fees.
Part 2: Management of Student Life Fee Allocations
Subpart A: Budget Process
- The Director of Student Life shall submit a proposed budget to the Student Life Committee no later than February of each year for the following year.
- The committee shall review the proposed budget and vote on the final recommendation that will be forwarded to the Student Senate and the College President.
- The committee shall present the Student Life budget to the LSC Student Senate for review and recommendation to the College President for approval no later than April 30th of each year.
- The Director of Student Life shall provide the Student Senate with a detailed monthly expenditures report for their review. The report shall include all Student Life and student organization expenses.
Subpart B: Committee Responsibility
Student Organization Accounts. LSC shall provide for the fiscal management of student organization accounts. A student organization which receives allocations of student activity monies shall deposit and expend all allocations through their designated cost center. Student organizations may establish a separate cost center for funds received from outside sources (e.g., fund-raising efforts) for specific purposes.
- The Student Senate shall be allocated 33 stipends annually. The Student Senate Executive Board and advisors shall distribute the stipends in accordance with the Student Senate Constitution.
- Two stipends shall be allocated to students who have successfully completed the Student Life Leadership Academy. A maximum of 60 stipends may be allocated each academic year.
Subpart C: Annual Report. The Director of Student Life shall prepare and submit an annual report. The annual report shall be provided to the Student Senate and the Vice President of Administration. The report shall also be made available to interested parties. The Student Senate may request that the institution provide a detailed accounting or obtain an audit of its student life fund which shall be made available to interested parties. The cost of these audits shall be borne by the LSC student life fund.
Subpart D: Carry Forward and Reserves. Expenditures from carry forward, including reserves, shall occur only after receipt of a recommendation from the Student Life Committee. The amount of these carry forward funds shall be reported to the Student Life Committee. The committee may review and make recommendations regarding the investment policy for student life reserves.
Subpart E: Use of Funds
- The Student Life fee shall only fund activities that are consistent with M.S. 136F.01, Subd. 5.
- The Student Life Committee shall follow commonly accepted business practices in the operation and funding of Student Life programs.
- This procedure seeks to ensure the proper use and stewardship of public funds in the operation of Student Life programs.
- The Vice President of Administration and the Student Senate shall jointly establish guidelines on appropriate business practices for expenditures from the Student Life fund.
- Student Life funds shall not be used for the purchase of alcohol.
- Student Life fees shall not be used as donations to college or university foundations or to other external charitable organizations.
- Student Life fees shall not be used to provide individual scholarships or grants.
- The Student Life Committee may agree to provide funds for its own support through the student life budget process.
Date Implementation: March 2, 2002
Date Updated: October, 2007