What is SAFAC?
The Student Activity Fee Allocation Committee (SAFAC) is the student organization that provides funding to COSO registered student organizations at the University of Miami. SAFAC consists of thirteen voting members, one non-voting chair and two advisors.
What is an Early Budget?
In the middle of the spring semester, every organization has the opportunity to submit a budget request for the following fiscal year. Unlike regular budget requests, the Early Budget is time sensitive in that the items and events requested must be used or occur before the end of Fall Semester. Early Budget allocations are posted to OrgSync at the end of the spring semester of the prior academic year.
What is a Regular Budget?
Regular Budget requests give organizations the opportunity to request money in addition to what they have been allocated on their Early Budgets. Items requested on an Early Budget cannot be requested again on a Regular Budget. Organizations can two Regular Budget requests during the academic year.
What is Stipulated funding?
Stipulated funds are expenditures that are approved by SAFAC but must be “claimed” before they are available in the organization’s SAFAC account. Stipulated funds can be claimed via the OrgSync form called “2015-2016 Request to Release Stipulated Funds” (https://orgsync.com/53219/forms/146147
). In order for funds to be released, groups must provide documentation that shows that they have paid or have payment pending for the item (receipt, invoice, etc.). If stipulated money is used for a coach, speaker, entertainment, etc. the signed contract must be attached to the form for the funds to be released.
When will I find out how much funding my Organization received?
All allocations are posted directly to each organization’s OrgSync portal. Allocations for Early Budget requests are posted at the end of the spring semester, and allocations for Regular Budget requests are posted approximately one week after the date of the SAFAC meeting at which the budget was reviewed.
What is a liaison, and how can I find out who is the liaison to our organization?
A SAFAC liaison is one of the 14 student committee members that has been assigned to guide you through the funding process. SAFAC liaisons have thorough knowledge of the funding process and guidelines, and will meet with you to answer any questions that you might have. Your liaison's signature is required before a request form can be submitted. You can find your organization's liaison here
What is the difference between my SAFAC account and gift account?
For more information on the various types of accounts available to student organizations, visit the Student Organization Handbook located at www.miami.edu/handbook
**Note: Student organizations are not allowed to open accounts with outside banks.
How can I check how much money is currently in my organization’s account(s)?
All student organization advisors have the ability to check account balances. SAFAC Liaisons do not have this access.
Who can I contact for more information?
For any additional questions, please email the SAFAC Chair at firstname.lastname@example.org