Bylaws for the Finance Committee (FiCom)

The Finance Committee is a body of Community Council which is responsible for the following:

 * 1) Determining and allocating every semester the funding for all active student groups under the direction of the SAF Guidelines.
 * 2) Overseeing throughout every semester the expenditures of all student groups.
 * 3) Running the funding cycles once a semester.
 * 4) Maintaining the financial records of Community Council.
 * 5) Developing and managing the master budget for Community Council.
 * 6) FiCom is also responsible for any other pertinent duties relegated to it by the Community Council.
 * 7) Discipline of groups related to money management and use.
 * 8) Managing the Student Activities Fee between three accounts: the Operating Fund, the Contingency Fund, the Endowment Fund

Membership of FiCom shall be composed of:

 * 1) Director
 * 2) Financial Director
 * 3) Secretary
 * 4) Community Liaison
 * 5) Up to 5 other voting members

Requirements for Membership:

 * 1) Community Council can delegate members to attend FiCom meetings at Council’s discretion. Appointments to positions in FiCom are subject to be overseen by FiCom and approved by Council.
 * 2) Any community member who attends three consecutive FiCom meetings has the right to request to become a member for the current semester, for which two thirds of FiCom’s membership must vote in favor.
 * 3) At any given time the membership of FiCom shall not drop below five members.

Responsibilities of Members:

 * 1) In order to maintain membership on FiCom it is necessary for a member to attend meetings consistently. The right to vote will be taken away from members who fail to attend two consecutive FiCom meetings without a legitimate reason. The reinstatement process will consist of a letter of explanation, attendance at two consecutive meetings, and approval by two thirds of Ficom’s body before receiving the right to vote.
 * 2) In addition to regular meetings, a member must attend several special meetings, including signer seminar and group funding, or any other events the FiCom Directors should designate as special emergency meetings.
 * 3) Stay abreast of pressing issues in the community that affect FiCom and the use of the SAF
 * 4) Communicate FiCom's views and decisions on issues, regardless of their individual stance
 * 5) A member must also make every possible effort to attend what shall be known as a special emergency meeting.
 * 6) Should a member be unable to attend a special meeting they are expected to contact FiCom and explain their absence in advance. Members are expected to send an email to ficom@hampshire.edu should he/she need to miss a regular meeting.

Terms of Dismissal

 * 1) A member can be removed for not attending a special meeting, or too many regular meetings at the discretion of FiCom’s Director. Removal will be subject to a discussion with all attending voting members.

Special Expectation of Committee Members

 * 1) Confidentiality
 * 2) FiCom meetings are to be considered open to the public. However, given that sensitive items can be discussed and privacy is to be respected, decision-making deliberations are to be considered closed and confidential, unless otherwise noted by the Director. It is unacceptable for a member to discuss with any non-FiCom member the events and statements that took place at any closed FiCom meeting.
 * 3) Any member found to have broken the confidentiality, shall be disciplined at the discretion of FiCom’s Director, up to and including their removal from FiCom. Such discipline will be determined by a discussion of voting members and the Director.
 * 4) Impartiality
 * 5) Many FiCom decisions and discussions are of a sensitive nature and require an unemotional and unbiased decision.
 * 6) In order to protect this, the FiCom Director shall have the right to ask any member to excuse themselves from the current discussion or meeting should the FiCom Director feel that they are incapable of making an unbiased decision or maintaining confidentiality.
 * 7) Impartiality shall be based on the funding policies pertaining to each particular case.
 * 8) In order to maintain impartiality, the Director of FiCom cannot be a signer of a student group. All voting members can be signers, but cannot vote on matters pertaining to the student groups for which they sign.

Advisor

 * Meet monthly with FiCom members
 * Read meeting minutes

Director

 * Maintain contact with the FiCom Advisor
 * Serve in this position for up to four semesters and must have had at least two semesters of previous experience on FiCom.
 * Initiate, call, and chair the meetings of the Finance Committee in accordance with the bylaws
 * Implement and enforce FiCom motions and bylaws
 * Ensure the legitimate and efficient workings of FiCom
 * Maintain contact with the Business Office, Community Leadership and Activities Office and its director administrative offices and other governing bodies
 * Act as a primary contact for FiCom
 * Hold two FiCom meetings on a weekly basis
 * Meet with Community Leadership and Activities Office representative on a weekly basis
 * Coordinate and communicate with FiCom Office Assistant on a regular basis
 * Will have access to key lock code, email and other account passwords.
 * The Director has the responsibility to return to campus approximately one week before the beginning of the semester to ensure that operations are in order for the coming semester.
 * The Director will not have a vote during the regular voting process, but can cast a tie-breaking vote.

Financial Director

 * The Financial Director shall be elected by the members of FiCom to serve as the Treasurer of FiCom.
 * Keep track of group spending and notify the signers of the student group if the group is in danger of going into debt. If a group has gone significantly into debt, the Financial Director is responsible for notifying FiCom.
 * Work with the FiCom Director to review the Business Office records and prepare the preliminary and master budget.
 * Prepare monthly financial reports for the Financial Committee and Community Council.
 * Notify Community Council, in writing, before transferring any funds out of the contingency account.
 * Write-up fund transfers and send them to the FiCom Office Assistant
 * Have a vote in FiCom meetings.
 * Keep track of the distribution of stipends to Community Council officers and subcommittee officers.
 * Will have access to key lock code, email and other account passwords.

Secretary

 * The Secretary shall be elected by the members of FiCom.
 * Take minutes during FiCom meetings and keep track of attendance.
 * Maintains the FiCom Office
 * Maintains FiComs Hampedia and other historic documents
 * Prepare a statement of FiCom’s affirmative vote and reasoning on any funding transfer over $5,000.
 * Have a vote in FiCom meetings.
 * Will have access to key lock code, email and other account passwords.

Community Liaison

 * The Community Liaison shall be elected by the members of FiCom.
 * Stay informed of Council's bylaws and that of all its subcommittees.
 * Assist Director in contacting student groups with any follow-up questions or concerns regarding their funding requests
 * Be the main contact for general FiCom issues to the community. This includes communicating clearly to the community
 * Changes to the bylaws
 * Changes to the structure of FiCom
 * Questions about FiCom's policies and procedures
 * General questions for FiCom not related to specific funding situations
 * Schedule and be present at regular events to interact with the general Hampshire community.
 * Have a vote in FiCom meetings.
 * Will have access to key lock code, email and other account passwords.

Exceptions

 * 1) Additional officer positions in FiCom can be created in case the amount of work so demands and if necessary to guarantee the efficiency and well-functioning of FiCom. In that case, the bylaws need to be revised and approved by FiCom and Community Council.
 * 2) The Director and Community Liaison positions must be filled at all times.

Article IV: Meetings

 * 1) Scheduling
 * 2) Meetings will be held on a basis determined by need, at a time chosen by the FiCom Director.
 * 3) All possible effort will be taken to find a time that does not conflict with classes or faculty meetings, so that all members may attend.
 * 4) Quorum
 * 5) Quorum shall consist of one half the current voting membership of FiCom plus the approval of the Director.
 * 6) At any meeting of Ficom should it be known that quorum will be unobtainable, and there is pressing need for business to be done the number needed for quorum may be lowered at the discretion of the Director in consultation with the Financial Director, Director of Council Relations, and the Community Liaison.

Article V: Meeting Protocol

 * 1) Voting
 * 2) Members of FiCom must have attended three meetings before receiving the right to vote.
 * 3) The Director of FiCom has the right to call for a vote on any issue they consider appropriate and relevant. It is appropriate to allow discussion to continue at the discretion of the FiCom Director. Attempts must always be made to reach a consensus.
 * 4) On any given vote, simple majority of voting members in attendance will carry the decision, except in the following cases:
 * 5) Changes to the bylaws which will require the approval of the Director and a two thirds majority of the voting members.
 * 6) Special meetings, which will also require the approval of the Director and a two thirds majority of the voting members.

Article VI: Funding Policy and Cycles

 * 1) Student Group Debt Policy
 * 2) If a group goes into debt in excess of fifty dollars, the signers must come in to a FiCom meeting and explain why they have gone into debt.
 * 3) All groups in debt are subject to be monitored carefully.
 * 4) A group may be put on probation for any violation of FiCom bylaws or written policy, in which case the approval of the Director and a two thirds majority vote of the voting members may decide whether or not to enforce probation or not.
 * 5) Terms of probation may include any of the following to be determined by the approval of the Director and a two thirds majority vote of the voting membership:
 * 6) The group may not receive any additional funding
 * 7) A group may not reallocate funds
 * 8) A groups’ account may be frozen
 * 9) If a group violates the initial terms of probation, additional stipulations may be placed on their account or they may be disbanded following the same procedure for groups in debt.
 * 10) Spending Regulations
 * 11) Community Council does not fund Division III projects.
 * 12) Community Council does not fund any exclusive group or group activities.
 * 13) FiCom oversees the funding of permanent equipment.
 * 14) All funds, purchases and allocations made through FiCom must follow the SAF Guidelines.
 * 15) Regulations on Income
 * 16) In the case of a student group which projects income into their budget this must be reflected in the established group funding application.
 * 17) Income can be derived from sources approved by FiCom such as from income from goods sold, goods that cannot be paid for with Student Activity Fee money.
 * 18) Income should not be collected in the forms of mandatory group membership dues, as this renders the group no longer open to everyone in the community. Entrance fees charged to Hampshire College students are not permitted for events paid by the Students Activity Fee.
 * 19) All income must be carefully documented with receipts provided to FiCom on a regular basis for the purposed of determination of future funding needs and tax requirements.
 * 20) Income may not be redistributed without the express permission of FiCom.
 * 21) All groups hoping to gain income during the semester should schedule a meeting with FiCom to discuss its merits and restrictions, as well as legal regulations and banks accounts, etc.
 * 22) Group Funding
 * 23) New Student groups may receive no more than $500 dollars.
 * 24) New student group funding occurs at the end of each semester along with established group funding.
 * 25) There is no rollover for group budgets between semesters.

Article VII: Joint Legislation of Community Council and FiCom
A.) Voting/Balance of Power


 * 1) Any decisions made by FiCom concerning the spending of funds maybe overturned by Community Council according to Council’s Bylaws.
 * 2) Proxy votes may be allowed by phone or delegate, but are required to be issue-specific (I.e. no one may hold the carte-blanche vote of another member).

B.) Budget Limit


 * 1) The master budget should not leave, under any circumstance, a target balance of less than $10,000 for the coming semester.
 * 2) Once the master budget falls to $5,000, new allocations of funds can only go towards emergencies, as decided by the approval of the Director and a two thirds vote by the current voting membership.

Article VIII: Accountability and Disciplinary Action

 * 1) Financial Director, Director of Council Relations, and Community Liaison: The Financial Director, Director of Council Relations, and Community Liaison are accountable, in the first instance, to the Director, and in the second instance, to the entirety of FiCom. Should an officer prove to be consistently negligent or incompetent, they will be issued formal warning to correct their behavior by the Director. In the warning, a time frame in which such corrections must be made will be given. Should an Officer continue to be lax in his/her position, with the approval of the Director and a two thirds majority vote of the current voting membership, the Officer can be asked to step down without being subject to revision.
 * 2) Director: The Director is accountable to the Officers, the entirety of FiCom, and the FiCom advisor. If the Director is found to be consistently negligent or incompetent, a decision may be made to remove the Director by a consensus of the Officers and a majority of the remaining voting members.
 * 3) A FiCom Director shall be nominated by the current Director and approved by a majority vote of the voting members.
 * 4) The Financial Director, Director of Council Relations, and Community Liaison shall be nominated by the standing Director and approved by a majority of the voting members.
 * 5) The Officers shall be subject to reevaluation at the end of each semester.