About the Fund
Student fees funding the Student Green Energy Fund (SGEF) are collected and maintained in a dedicated auxiliary account ("In the Auxiliary Trust Fund – Budget Basis"), and all expenditures for projects funded from the account are approved and paid from that account. The auxiliary fund is administered by USF Student Affairs and Student Success Shared Services Center. The Student Affairs and Student Success Shared Services Center executive director is the authorized signatory on the account. An objective cost review is conducted periodically in order to assure accurate estimates. Reports on project expenditures are made on a periodic basis. Unused funding for projects is returned to the fund for other projects.
Since the SGEF is maintained as an auxiliary account, a six percent withholding is required for administrative overhead. In addition, a minimum of five percent of the fees collected is held annually in reserve for contingencies and bad debt. A maximum of three percent of the fees collected can be used annually to fund a term-limited OPS staff position ("SGEF Manager") to manage the fund, as approved by the SGEF Council. A maximum of 10 percent of the fees collected can be used annually to purchase energy monitoring equipment and related supplies and services, as approved by the SGEF Council, to ensure the efficacy of projects supported by the Fee.