Budget

1. All disbursements shall be made in accordance with the authorized budget of the Board. This budget shall consist of the operating budget of the Board, the allocations from the Annual funds, and the amount of the Discretionary fund to be used for discretionary allocations from each General Fee.

2. The operating budget of the Board shall be used for basic operating expenses of the Board, including, but not limited to, office expenses, indirect cost recovery charges, compensation to Board members, and publicity.

3. The Annual funds shall be used for the basic operating and programming expenses of client student organizations. All allocations from the Annual funds for a given fiscal year shall be approved the previous fiscal year.

4. The Discretionary funds shall be used for the basic operating and programming expenses of clientele student organizations, with the needs of new (established during the current fiscal year) organizations receiving preferential treatment. All allocations from the Discretionary funds for a given fiscal year shall be made and approved during that fiscal year. At least thirty-five per cent of the Board's budget must be allocated to this fund.