by Chianna Schoenthaler

Student Engagement and Leadership hosted a “We have $5: Budgeting 101” training for student organizations, Thursday, Feb. 23 at 5:00 p.m.

During this training Vanessa Gallegos, a fifth year senior majoring in biology and Favian Arredondo, a senior majoring in automotive industry management and accounting spoke to various student organizations about budgeting.

Gallegos and Arredondo highlighted on how to comprehend basic financial policies, knowing your student organization’s university account number, and how to keep a financial record.

The do’s included how to keep track of donations, the money received must stay in the university account, and the student organizations are totally responsible for their account.

The don’ts included not spending money your organization doesn’t have and not to solely rely on sponsorships or donations.

Gallegos and Arredondo recommend sending thank you notes to any organization or person who donated money to the student organization.

When a student organization needs money, often the student organization resorts to fundraising. For fundraising purposes, Gallegos and Arredondo recommended planning early, gather as many members as possible, and have the members attend the fundraising events that are planned.

Many fundraising options were brought up during the presentation including Go Fund Me pages, bingo, do it yourself crafts, silent auction, talent show, car wash, manicures, holiday themed, pie the professor, bowling, kiss a donkey, Butter Braids, walk-a-thon, Buffalo Wild Wings, Chipotle, Cold Stone Creamy, Noodles and Company and Little Caesars.

Gallegos said, “Our goal was to teach student organization about budgeting and fundraising.”

When a student organization needs to fundraise, marketing and collaboration were highly recommend by Gallegos and Arredondo. Collaboration helps for student organizations to network with other students on campus and student organizations. While marketing helps get people to attend the event.

Student organizations who have questions about their campus accounts or companies to ask donations from should talk to Nick Potter or Valier Gallegos of the Foundation Office and  Robin Arwood or Val Pfingstan of the Financial Services.

Noelle San Souci recently took over student organizations in the Student Engagement and Leadership office and can be contact at 719-549-2255 or [email protected] to help with any questions student organizations might have or concerns.