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About the Program
The Section Activity Funding Program has been established to provide financial support to ASME Sections that lack sufficient segregated funds to plan and conduct approved ASME activities.
How does it work?
The funding application process will be similar to a grant process. Sections will submit an activity request through the GPS Requisition Tool, and indicate whether or not funding is required for a given activity. If the activity is approved and the eligibility requirements have been met, the funds to support the approved activity will be deposited into the Section’s consolidated bank account. For international sections that do not have bank accounts, ASME will wire transfer funds (and pay expenses) to the vendor(s) involved in your activity / activities
Who can apply?
Sections with annual spend limits of $10,000 or less can apply for funding. The Section must be active and in good standing, as indicated by:
For international sections, in addition to the above criteria, the submittal of the prior year-end annual financial report and bank statement are required.
How much funding can a Section receive?
The minimum amount for a request is $100. Sections can request funds for more than one activity, up to a cumulative total of $1,000 for the program year. Each activity where funding is needed must be submitted as an individual activity request through the GPS Requisition Tool.
Example 1: Section A submits 4 separate activity requests during the application period, and indicates a funding need of $250 for each activity. All activities are approved. The Section must wait until the next program year to request any additional funding, since these 4 funding requests totaled $1,000.
Example 2: Section B submits 1 activity request during the application period, and indicates a funding need of $400 for an activity. The activity is approved. The Section is still eligible to apply for up to $600 in additional funding until the application period has ended.
What can funding be used for?
Sections applying for funding can use the monies for planning and executing activities. The funding can be used to supplement the Section’s segregated funds for a portion of an activity, or to fund an entire activity.
The activity conducted by the Section must be one of the following types, and can be a new concept idea (strongly encouraged) or an existing activity that can be enhanced to reach more people.
Note: Expenses related to planning the activity or participating in an activity are eligible for funding under this program.
Funding from this program cannot be used to support any of the below activities. (Many would normally be paid out of the group’s segregated account.)
When is the application period?
Requests from Sections for current year activity funding will be accepted starting on July 1, 2017. The application period will last through the end of the program year (June 30, 2018.) Sections should submit requests at least 15 days prior to existing recommended lead times for activity approval. (See About Activity Approvals for more information.)
How can a Section apply?
A Section can apply for funding by submitting an activity request in the GPS Requisition Tool, and indicating the need for funding.
What is the process for determining whether or not a funding request is approved?
GPS will approve requests that meet the criteria for funding:
Special consideration will also be given to proposed activity ideas that align with ASME’s strategic intent to achieve a Leadership Position in being the “go-to” technology resource that helps engineers identify and implement game-changing design and process improvements.
Requests that do not meet the above criteria will be forwarded to Sector Management Committee (comprised of Senior Vice Presidents from all Sectors of ASME) for their consideration and decision. A decision by the SMC will be provided within 15-20 business days.
How long will it take to receive funding once an activity has been approved?
The turn-around time for reviewing a funding request will be no more than 20 days. When funding for an activity is approved, the Section’s consolidated bank account will be credited with funds within 10-14 business days.
Will funding affect our spend limit?
Expenditure of funds received under this program will not count towards the Section’s current annual consolidated account spending limit.
Any net income generated by the activity can be retained by the Section in its consolidated bank account. If funds are not used and remain in the Section’s consolidated bank account, the Section’s spend limit may increase for the following fiscal year, and may make the Section ineligible for future funding opportunities.
Are there any other program requirements?
A Section must file a post activity report for each activity where funding was provided no later than 30 days after the completion of the activity. Post-activity reports must be submitted for the Section to be eligible to receive funding from this program in future years.
A post-activity report can be submitted by updating the Post-Activity Report area of the approved activity request.
More about funding
If all funds are allocated prior to the end of the program year, no further requests for funding will be processed. Requests should be submitted as early as possible by the group to enhance the likelihood of funding.
The program will be reviewed by the Board of Governors on a yearly basis to determine its continuation. New application deadlines will be determined at that time as well.
For questions, please submit an inquiry to GPS through the Requisition Tool.
"ASME is a real promoter of the Arts, Science, and Technology."
Ali Baghchehsara II, ASME Student Member since 2011
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