Spending Annual budgets

Important Changes to Annual budgeting process

Congratulations on completing the annual budgeting process! At the conclusion of this process, your organization will receive a specific dollar amount ($) allocated for use throughout the upcoming academic year (2025-2026).

To access these funds, your organization will submit funding requests on an event-by-event basis using the SMU360 platform. This simple, straightforward submission process will replace the previous line-item budgeting approach, offering greater flexibility and responsiveness to your organization's needs.

Important Instructions:

  • Submitting Funding Requests:

    • Log in to SMU360 and navigate to your organization's page.

    • Complete the "Senate Event Funding Request" form, providing clear details about the event, anticipated expenses, and how these align with your organization's goals.

    • If your request aligns with the finance standard spending guidelines, your submission will be reviewed quickly and typically approved within 2-3 business days.

    • For requests that do not fit neatly within standard spending guidelines, expect the Finance Committee to review your submission. Decisions for these out-of-standard requests are made during weekly Finance Committee meetings.

Important Spending Guidelines and Reminders:

  • Your organization must have the funds allocated and available in your account before submitting any event funding requests.

  • Organizations are not authorized to spend or commit any allocated funds until receiving approval for their specific event funding request via SMU360.

  • Advance Planning: Submit your event funding requests at least two weeks in advance to ensure timely review and approval.

  • Unapproved spending, even if your allocated funds are sufficient, may result in the loss of funds or impact your organization's future funding eligibility.

  • Please keep an internal track record of all spending.

Additional guidance and training sessions on the new budgeting process, including detailed guidelines on the SMU360 submission procedure, Finance Committee standards, and budget management best practices, will be provided at the start of the 2025-2026 academic year. Your organization will receive clear and timely updates about these resources in advance.