Article X. Funds of the USG
Covers USG financial administration, fund management and budgetary oversight
The USG Fee forms part of the custodial funds and is deposited under the Trust Fund.
Section 2.Part of the sources of funds of USG is from the internally generated income (tuition fees) for student development under instruction.
Section 3.These funds will be utilized based on their specific budgetary allocation, subject to accounting and auditing rules and regulations of the government.
Section 4.The USG budget shall be dedicated to the programs, projects and activities of the University Student Government. The USG Legislative Branch shall have an automatic seven percent (7%) share of the USG budget while the USG Student Judicial Council shall have an automatic three percent (3%) share of the USG budget and shall enjoy autonomy on its utilization, subject to accounting and auditing rules and regulations of the government.
Section 5.Budget Call. Beginning December 1, the USG President shall require LSG, USG Legislative Branch and USG Judicial Branch to submit their respective budget proposals for the following academic year. The Senate Chairperson, Student Chief Magistrate and Governor shall, not later than December 7, submit their budget proposals to the Office of the USG President.
Section 6.Upon receipt of the respective budget proposals, the USG President shall, not later than December 15, submit the proposed Executive Budget to the Committee on Finance of the Assembly. Upon receipt of the Executive Budget, the Committee on Finance shall, not later than December 21, submit the Committee Report to the Assembly for approval. The Assembly, through the vote of the majority, voting separately, shall approve the budget and submit the same to the USG President for approval not later than December 31 of the same year.
Section 7.If by the end of December 31 the Assembly shall have failed to pass the budgetary appropriations for the ensuing year, the budgetary appropriations for the preceding year shall be deemed re-enacted and shall remain in force and effect until the Assembly passes the budgetary appropriation.
Section 8.No law shall be passed authorizing the transfer of certain budget appropriation. The USG President, with concurrence of the Assembly, may, however, augment any item in the general appropriations for other expenditures from savings or unutilized funds.