Finboard Funding Appeals GrantedBy Venkatesh Satish
Associate News Editor
Fifteen student groups appealed their funding allocation Sunday in the final phase of the fall-term activity funding process.
Reasons for the appeals ranged from groups turning in late requests last term to organizations receiving little or no funds, said Undergraduate Association Finance Board Secretary Douglas K. Wyatt '96.
Appeals ranged from $5,000 to $10,000, but only $2,400 total were granted, Light said.
The UA has a total annual budget of $93,000, of which about $44,000 was given to student organizations this term.
One reason groups have budget requests turned down in the initial compilation is the limited resources of the UA, Wyatt said. "We are nowhere near [being] able to allocate as much as groups need."
For the most part, funding was given to those groups who had submitted late requests, and not to those who were unhappy with their funding, Light said.
The groups that received recommendations with high monetary values included Students for the Exploration and Development of Space ($550), Hindu Student Council ($300), and Inline Skate Club ($300).
Finboard will present its funding recommendations for those groups at the Sept. 27 UA Council meeting for final approval, Wyatt said. Most groups' fall-term funding was decided at the budget compilation meeting last May.
During the appeals process, student groups must send representatives to meet with Finboard, Wyatt said. Groups usually do not send representatives during the intial budget compilations, he said.
The representatives are then asked to explain their group and defend their budget request to the members of Finboard, Wyatt said.
In order to decide the amount of funding groups will receive, Finboard considers the size of the group and the success of events the organization has held, Wyatt said.
"We look at how much they give to MIT," said Finboard member Matilda N. Kamiya '97. Finboard looks favorably upon both cultural and community service groups, she added.
Additionally, "the first term or two that a group is in existence, they are looked on with generosity" by Finboard, Wyatt said.
Finboard will hold a meeting again in late November to discuss funding recommendations for the spring term.