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Council Makes Changes to Policies of Finance Board

By W. S. Wang


The Undergraduate Association made several major changes to the organization of its Finance Board at last night’s council meeting.

A bill for overallocation and other financial amendments to the UA council bylaws passed after heated debate. The overallocation bill was introduced to address problems caused when student groups don’t spend all of their allocated funds.

Under the new laws, the UA council will authorize a pre-determined overallocation percentage for Finboard recommendations. UA President Peter A. Shulman ’01 allayed any concerns by saying that he will meet with the chair and vice chair of Finboard and the UA council speaker and treasurer in the next few weeks to determine this percentage.

There were also concerns about the possibilities of over-expenditure, which could result in a UA deficit. However, Shulman pointed out that in his meetings with Dean for Student Life Larry G. Benedict and the Student Activities Office, the administration appeared to be “willing to risk their own budgets to ensure that student groups get more funding.”

He said that the scenario would be very unlikely, considering the availability of the UA invested reserve.

Finboard bylaws updated

The finboard bylaws were modified to make them clearer and easier to understand. UA councillor Jordan Rubin ’02 suggested that the Finboard chair should maintain the bylaws. An amendment which attempted to make the Finboard recommendations private did not pass, despite the efforts of Finboard members.

Former Finboard member Jonathan A. Sheffi ’03, who recently resigned the post of Member-at-Large, charged that Finboard’s “policy of hiding allocation was silly and did not allow Finboard to effectively respond to critical situations.” The majority of UA council members supported this sentiment and voted to keep records public starting from the Finboard recommendations for allocation of funds.

Tiffany L. Bostick ’02 was elected to the Member-at-Large position vacated by Sheffi.