Financial Regulations of the Student Body

Note

This is a translation of the original text. Only the German version of this regulation is legally binding.

Based on §§ 79 paragraph 2, 80 paragraph 2 sentence 1 number 5 in conjunction with § 3 paragraph 2 of the Thuringian Higher Education Act (ThürHG) of 10.05.2018 (GVBl. p. 149), last amended by Article 7 of the Act of 23.03.2021 (GVBl. pp. 115, 118), the student body of the Ilmenau University of Technology (hereinafter referred to as the “University”) enacts the following financial regulations of the student body of the Ilmenau University of Technology dated 06.06.2013, published in the University Gazette 112 / 2013, as amended by the third amendment dated 12.11.2021, published in the Gazette 221 / 2021.

The student body of the university has adopted the financial regulations of the student body of the Ilmenau University of Technology in the ballot from 11 to 14.06.2012. The rector has approved the order on 06.06.2013. The student body of the University adopted the third amendment statute to the Financial Regulations of the Student Body of the Ilmenau University of Technology in the ballot on 22.07.2021. The President of the University approved them on 12.11.2021.

§ 1 – Principles

  1. The financial regulations of the student body of the Ilmenau University of Technology are based on the Thuringian Student Body Financial Regulations (ThürStudFVO) and, in addition, the Thuringian State Budget Regulations (ThürLHO).

  2. The Financial Regulations apply to the budgetary and economic management of the student body, represented by the Student Council.

§ 2 – Financial year

The financial year begins on April 1 and ends on March 31 of the following year.

§ 3 – Financing of the student body

The financing of the student body of the University is determined according to § 3 ThürStudFVO.

§ 4 – Budget officer, treasurer, finance unit

  1. The budget officer is responsible for the budget of the student body according to § 4 ThürStudFVO. The budget officer must be a member of the student council. The student council can elect up to two deputies, who must not be part of the student council, but must be enrolled as students at the TU Ilmenau. The budget officer and his/her deputies are elected by qualified majority. If the budget officer resigns, the office will be held temporarily by the deputies until a new appointment is made.

  2. The treasurer must be a member of the student council. The student council can elect any number of deputies, who must not be part of the student council, but must be enrolled as students at the TU Ilmenau. Employees of the Student Council can be elected as deputy treasurers. The treasurer and his/her deputies are elected by qualified majority.

  3. The Student Council elects the budget officer and a treasurer at its constituent meeting in accordance with the ThürStudFVO.

  4. The budget officer and the treasurer and their deputies form the Finance Unit.

  5. The budget officer drafts the budget and submits it to the student council for resolution. The budget officer is responsible for the proper implementation of the budget and compliance with the ThürStudFVO. He or she is to be involved in all measures of financial significance.

  6. Cash managers are responsible for bookkeeping, cash and account management and the processing of payment transactions.

  7. The Budget Officer shall be assisted in his/her duties by the other members of the Finance Unit.

  8. Members of the Finance Unit are accountable to the Student Council.

Note

The budget officer(s) must be elected by a two-thirds majority vote in accordance with § 13 para. 2 sentence 3 of the student body statutes and must be members of the student body (§ 4 para. 1 ThürStudFVO).

Note

The person responsible for the budget has a veto right according to § 4 ThürStudFVO.

§ 5 – Budget

  1. The basis for the budgetary and economic management of the student body is the budget.

  2. A budget shall be prepared before the beginning of each fiscal year. The Student Council shall adopt the budget by a two-thirds majority of its members.

  3. The budget shall contain all revenues expected to be received and expenditures expected to be made during the financial year, as well as an overview of the development of assets. Revenues and expenditures shall be budgeted in full and separately from each other; revenues shall be budgeted according to their origin, expenditures according to their purpose, and the purpose shall be explained where appropriate.

  4. Excessive expenditures require the approval of a two-thirds majority of the members of the Student Council with special consideration of the regulations of the ThürStudFVO § 5. Otherwise, there is the possibility of a supplementary budget.

  5. The date of the expected resolution on the budget shall be announced to the university public with a notice period of 14 days. At the same time, the current draft shall also be announced. The provisions of this paragraph may be deviated from in the case of urgent supplements to the budget and in the case of postponed resolutions.

  6. The budget and its supplements come into effect after the Student Council has passed a resolution and the President has approved it, but not before the beginning of the respective budget year.

  7. The budget that has entered into force shall be announced in the university by posting for two weeks. The expiry of the deadline is suspended during the lecture-free period.

Note

see also § 5 ThürStudFVO para. 3 p. 4, para. 4 p. 1, para. 6 p. 3

§ 6 – Budget of the faculty student councils

  1. The budget of the student councils is determined by the Student Council in the current budget year from the budget of the student body.

  2. The student council budget officer manages the finances of the student councils.

§ 7 – Reserves

  1. In particular, transferable budgetary reserves (reserves) shall be established to meet unavoidable expenditures.

Note

see in particular § 8 ThürStudFVO para. 1, para. 2, para. 3 p. 1 and 2, para. 4

§ 8 – Loans to students

  1. Every student enrolled at the Ilmenau University of Technology can, upon proof of need, receive loans, which shall not exceed a total amount of 1,800 euros per person in need. The loan is interest-free during the term. In cases of short-term need, the amount can be deviated from in individual cases and against a guarantee.

  2. The neediness is to be presented by the applicant to the person responsible for the budget. The members of the Student Council decide on the granting of the loan by secret ballot in a non-public meeting.

  3. There is no legal entitlement to the granting of a loan.

  4. The term of a loan shall be six months and shall not exceed twelve months. The modalities of the loan shall be contractually regulated in compliance with the written form. These include at least the repayment period, repayment installments, method of payment, reason for payment and loan amount.

§ 9 – Loans to associations

  1. Every student organization and student association registered at the TU Ilmenau may receive interest-free loans for the fulfillment of the tasks specified in § 80 para. 1 nos. 2 to 7 ThürHG, which as a rule may not exceed a total amount of 10,000 euros each. Exceptions must be justified in writing.

  2. The need for borrowing the loan must be presented to the Student Council by the applicant in consultation with the budget officer.

  3. There is no legal entitlement to the granting of a loan.

  4. After completion of the task, loans granted are to be repaid to the Student Council without delay. The modalities of the loan are to be regulated contractually in compliance with the written form. These include at least the repayment period, repayment installments, method of payment, reason for payment and loan amount.

  5. The total of all outstanding loans owed to student organizations and associations and students shall not exceed 20 percent of annual semester dues at any time.

§ 10 – Borrowing, entering into guarantees and other loan collateral

  1. The student body may not take out loans

  2. Guarantees or obligations in guarantee contracts or similar contracts may not be assumed.

Note

see § 10 ThürStudFVO

§ 11 – Payment transactions

  1. Payment instructions must be signed by the budget officer and the cashier.

  2. Decisions which cancel, establish, modify or result in payment obligations of the student body or towards the student body are made by the student council with an absolute majority. The Student Council can make deviating regulations with the same majority for amounts up to and including 300 EUR. Payments may only be made if a resolution of the Student Council has been passed.

  3. Expenditures for consumables of up to EUR 150 each may be made by the budget officer without a separate resolution, in deviation from paragraph 2, provided that they are provided for in the budget. Such expenditures are to be reported at the next regular meeting of the Student Council.

  4. All bookings must be supported by receipts and vouchers. Receipts and vouchers are to be numbered consecutively, further details are regulated by § 12 ThürStudFVO.

§ 12 – Accounting, cash book and monthly financial statements

  1. Payments must be recorded in chronological order (cash book). Proof of payments by title shall be kept in the cash book by forming monthly totals for each title.

  2. All payments shall be recorded separately by financial year and for the financial year in which they were received or made.

  3. All payments are to be entered daily in the cash book, separated according to income and expenditure. Further details are regulated by § 14 ThürStudFVO.

  4. Incorrect entries in the cash book must be deleted and corrected under a new sequential number.

  5. The cashier in charge keeps the cash book. As a rule, he or she determines the sum of income and expenditure on the basis of the cash book on a monthly basis. The difference between receipts and expenditures results in the cash target balance. The cash target balance should be reconciled monthly with the cash actual balance, which results from the credit balance of the current accounts and the cash balance from the cash box, as well as taking into account the reserves.

  6. Discrepancies are to be clarified immediately by the Finance Department; a status report is to be submitted to the Student Council.

  7. The use of electronic accounting is permitted, provided that a complete handwritten consecutive payment transaction list is still maintained for all cash. The payment transaction list shall include at least the date of the deposit or withdrawal, the amount, the recipient and the purpose of the payment. Paragraph 4 shall apply mutatis mutandis to the payment transaction list. As a rule, the cash book is to be printed out monthly and signed off by the cash officer or the cash manager.

  8. The person responsible for the budget can stipulate binding formal requirements for third-party settlements (e.g. from shortfall financing). In addition, the electronic submission of documents may be required.

§ 13 – Accounts and cash

  1. Payment transactions for the implementation of the student body’s budgets are generally handled through a single account. Additional accounts may be opened and closed for special reasons based on a resolution passed by a two-thirds majority of the Student Council.

  2. A cash fund is maintained.

Note

For the maximum amount of cash (1000 €, as of 29.11.2022) in the cash fund, see § 12 ThürStudFVO para. 7 sentence 5.

§ 14 – Finance Committee

  1. The Finance Committee consists of three members of the student body who are not voting members of the Student Council.

  2. The Finance Committee shall be appointed by the Student Council by simple majority vote at the beginning of the fiscal year for the duration of one fiscal year.

  3. The Finance Committee is operational when at least two of its members are present.

  4. The tasks of the Finance Committee are to audit the current annual financial statements and to conduct regular cash audits during the current financial year. It makes recommendations to the person responsible for the budget regarding cash management or the annual financial statements.

  5. If the Finance Committee is not staffed, the duties are not performed.

§ 15 – Annual financial statements

  1. The budget financial statements shall be submitted to the Student Council for resolution.

  2. The form of the annual report is regulated by § 15 ThürStudFVO.

  3. Pursuant to § 7 ThürStudFVO, the inventory of tangible assets to be maintained must be attached to the annual financial statements as an annex.

  4. In due time before the end of the term of office of the Student Council, an interim financial statement shall be prepared for the current financial year, taking into account the result of the last cash audit, and shall be adopted by the Student Council.

Note

For deadlines and decision-making see § 15 ThürStudFVO para. 1

§ 16 – Audit

  1. The annual financial statement is examined by the Finance Committee of the Student Council and by the University Administration of the Ilmenau University of Technology. If the finance committee does not fulfill its task within 2 weeks, its examination will not be considered further.

  2. Accounting and auditing is regulated in § 16 ThürStudFVO.

§ 17 – Discharge

  1. Die Entlastung des bzw. der Haushaltsverantwortlichen erteilt der Studierendenrat unter der Berücksichtigung der Berichte der Hochschulverwaltung und des Finanzausschusses und der Stellungnahme des bzw. der Haushaltsverantwortlichen.

Note

The resolution of the Student Council on the discharge requires the approval of the President of the TU Ilmenau. The resolution is to be submitted immediately with the annual financial statements as well as the reports of the university administration and the finance committee and the statement of the person(s) responsible for the budget. (cf. § 17 ThürStudFVO)

§ 18 – Disposals of assets

  1. Disposition of Student Council assets shall be by resolution of the Student Council.

  2. The inventory must be updated accordingly.

  3. The provisions of ThürLHO §§8 and 63 apply accordingly.

§ 19 – Retention provisions

All books, vouchers, and contract documents shall be kept in a safe and orderly manner for ten years after approval of the discharge.

Note

see § 18 ThürStudFVO

§ 20 – Entry into force

The third amendment statute to the financial regulations of the student body of Ilmenau University of Technology comes into force on the day after its publication in the university’s gazette. For the transitional period from January 1, 2022 to March 31, 2022, the financial year 2021 shall be extended by drawing up a supplementary budget 2021 according to § 5 as well as § 5 ThürStudFVO.