Finance Board Presents the SOAR Fund

Fri, 13 Aug 2021 14:07:04 -0400

Please see the message below regarding Student Organization Stimulus Funding presented by the SGA Finance Board:

Dear Student Organization Leaders,

Following the last year's unexpected turn in events, many UMBC student organizations haven't been able to easily convene and have routine meetings during the online semesters. As a way to increase involvement, promote sustained membership, and foster a sense of community on campus, UMBC's SGA Finance Board has introduced a financial stimulus reward (SOAR) for all active UMBC undergraduate student organizations for the 2021-2022 academic year only. This reward will be used as a way to aid the smooth transition into more in-person extracurricular activities on campus. The legislation passed by Finance Board can be found at the following link.

Through SOAR, each of the 214 active UMBC student organizations will be given access to approximately $210.25 of funding, which is an evenly divided portion of the total $45,000 allocated for this program. Each student organization will be allowed to access their SOAR funds starting Monday, August 16th, 2021 until Sunday, May 1st, 2022. Student Organizations do not have to submit any application or receive an approval from Finance Board to use these funds. These funds will not be reflected in a Student Organization's carryover account, but are still available. It is important to remember that any purchases using this funding must comply with the State and University purchasing guidelines. Equipment purchases as outlined by the Equipment Committee cannot be funded by SOAR funds.

Student Organizations will be able to access this funding by submitting a RESGAF indicating that they would like to utilize SOAR funds for an expense in the Description Field. An example has been included in this post. Student Organization Treasurers will be able to request information about how much money they still have in this special allocation by contacting SABSC.

If you have any questions about this or any other Finance Board related item, please reach out to your Finance Board Liaison. You can find out who your liaison is on the list linked here.

Sincerely,

The Finance Board