Finboard Appeals Give Student Groups More Funding for Spring ...06
By Yi Zhou
To the delight of 76 student organizations, the Undergraduate Association Finance Board allocated an additional $56,831 after review of the Independent Activities Period/Spring 2006 Appeals, which totaled $179,000. The three highest recipients this semester were Technique, with $5,575, the Association of Taiwanese Students, with $2,405, and the Laboratory for Chocolate Science, with $1,975.
The unusually large surplus, just $12,000 short of the original amount distributed in this semester’s Allocations and up nearly $15,000 from last year’s IAP/Spring Appeals, can be attributed to a large rollover from the fall. When student groups do not use all of their allocations, the remainder is returned to Finboard to be used for the following term. Calculated after the termination of the previous semester, the rollover is not available in time for the allocations round of funding.
Despite a comprehensive application including a detailed list of cost estimations, “it is very rare that a group will spend 100% of what they are allocated,” Finboard chairman Christina C. Royce ’06 wrote in an e-mail. “We do our best to fund where we feel the money will actually be used. It’s up to the group, once we’ve given them their allocation, how much they choose to use, and unfortunately not all groups take maximum use of the money.”
In order to be considered for Appeals funding, representatives from each student group must meet with the board to defend their applications. Student groups are therefore encouraged to request money for capital (long-term) expenditures rather than for operations or events. Approximately $22,000 of the money awarded in Appeals this semester are slotted for capital expenditures, nearly three times as much as the $8,000 granted during the allocations period.
Finboard is comprised of ten elected members, who each review every application.