[1987] in UA Exec
Re: UA Fall 2014 Budget
daemon@ATHENA.MIT.EDU (Gaurav Singh)
Sat Aug 23 20:25:38 2014
In-Reply-To: <CAPzbeqDh8iW97doaPu52h_4OFTT_-8HxskEGQ+-t0ACPa=hYgQ@mail.gmail.com>
From: Gaurav Singh <gauravjs@mit.edu>
Date: Sat, 23 Aug 2014 20:25:13 -0400
To: Ryan McDermott <ua-treasurer@mit.edu>
Cc: "ua-council@mit.edu" <ua-council@mit.edu>,
"ua-officers@mit.edu" <ua-officers@mit.edu>, ua-exec@mit.edu
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Hi Ryan,
Could we get a record of spending from last semester? Also, could you
clarify what the UA initiation dinner is and why we are spending so much on
it? Additionally, why does the innovation committee have such a high
discretionary budget? The only other committees with similar levels of
discretionary budget are officers/council, and special projects, which by
their nature have more unanticipated spending.
Thanks,
Gaurav
On Sat, Aug 23, 2014 at 2:46 PM, Ryan McDermott <ua-treasurer@mit.edu>
wrote:
> Hello Council Members,
>
> I hope you all had a great summer.
>
> The past two weeks I have been working with our committee chairs and
> looking at previous budgets to construct a proposed budget for the next
> semester. The first draft of the UA Fall 2014 Budget is attached.
>
> Please look the budget over and e-mail or reply all with any comments or
> questions *by next Friday (8/29) at midnight*. After that time, I will
> make edits and send out a (hopefully) final version of the budget for your
> review. The budget can be amended during the semester by a majority vote.
> The budget will be voted on at the first meeting of the semester.
>
> You can find previous UA budgets at ua.mit.edu/funding/budgets/
>
> Here are a few quick notes about the budget I would like to point out:
> - I have calculated the Finboard student group allocations (tab 3)
> slightly different this semester compared to previous semesters. I have
> used the rate of allocation change over the past semesters to determine how
> much to allocate this semester, and then used the spending rate for the
> past year to estimate how much to budget for. Finboard groups do not spend
> all the money that is allocated to them, so this accounts for that factor.
>
> - Finboard funded groups have been filling out better applications as the
> semesters go on, as shown by their increase in ""Allocated percentage of
> requests". This has most likely been due to feedback given by Finboard to
> groups to help them approve applications for the next semester.
>
> - The amount taken out of the reserve has doubled compared to last
> semester. This is to lower our $475,000 surplus. A healthy depletion of the
> surplus involves slowly decreasing the amount withdrawn from the reserve
> each semester, starting at 100k and decreasing by 20k each semester.
> Because groups like Finboard and Student Faculty dinners do not spend all
> of their allocated money, I do not expect to reduce our surplus by exactly
> 100k.
>
> - I have increased Fresh Fund by $1000 (from 3000 to 4000). This is to
> allow more new student groups to have an easier start to funding their
> initial projects.
>
> - The education committee has a $6000 increase to fund a new project. The
> project will allow professors to have complimentary breakfasts in the MIT
> dining halls. This will increase the amount of student-faculty interaction.
> There is a plan in place to start this plan only at Maseeh and eventually
> be in place in all the dorms. The committee is also working on methods to
> make sure this project effects students not on the dining plan as well.
>
> - Public relations is receiving more funds this year to hold more study
> breaks, but more importantly focus on communicating to students what the UA
> is and what the UA does.
>
> As I said before, please contact me with any further comments or questions.
>
> Thanks,
> -Ryan McDermott
> UA Treasurer 2014-2015
>
>
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<div dir=3D"ltr">Hi Ryan,<div><br></div><div>Could we get a record of spend=
ing from last semester? Also, could you clarify what the UA initiation dinn=
er is and why we are spending so much on it? Additionally, why does the inn=
ovation committee have such a high discretionary budget? The only other com=
mittees with similar levels of discretionary budget are officers/council, a=
nd special projects, which by their nature have more unanticipated spending=
.</div>
<div><br></div><div>Thanks,</div><div>Gaurav</div></div><div class=3D"gmail=
_extra"><br><br><div class=3D"gmail_quote">On Sat, Aug 23, 2014 at 2:46 PM,=
Ryan McDermott <span dir=3D"ltr"><<a href=3D"mailto:ua-treasurer@mit.ed=
u" target=3D"_blank">ua-treasurer@mit.edu</a>></span> wrote:<br>
<blockquote class=3D"gmail_quote" style=3D"margin:0 0 0 .8ex;border-left:1p=
x #ccc solid;padding-left:1ex"><div dir=3D"ltr"><div>Hello Council Members,=
<br><br>I hope you all had a great summer.<br><br>The past two weeks I have=
been working with our committee chairs and looking at previous budgets to =
construct a proposed budget for the next semester. The first draft of the U=
A Fall 2014 Budget is attached.<br>
<br>Please look the budget over and e-mail or reply all with any comments o=
r questions <b>by next Friday (8/29) at midnight</b>. After that time, I wi=
ll make edits and send out a (hopefully) final version of the budget for yo=
ur review. The budget can be amended during the semester by a majority vote=
. The budget will be voted on at the first meeting of the semester.<br>
<br></div><div>You can find previous UA budgets at <a href=3D"http://ua.mit=
.edu/funding/budgets/" target=3D"_blank">ua.mit.edu/funding/budgets/</a><br=
></div><div><br></div><div>Here are a few quick notes about the budget I wo=
uld like to point out:<br>
</div><div>- I have calculated the Finboard student group allocations (tab =
3) slightly different this semester compared to previous semesters. I have =
used the rate of allocation change over the past semesters to determine how=
much to allocate this semester, and then used the spending rate for the pa=
st year to estimate how much to budget for. Finboard groups do not spend al=
l the money that is allocated to them, so this accounts for that factor.<br=
>
<br></div><div>- Finboard funded groups have been filling out better applic=
ations as the semesters go on, as shown by their increase in ""Al=
located percentage of requests". This has most likely been due to feed=
back given by Finboard to groups to help them approve applications for the =
next semester.<br>
<br></div><div>- The amount taken out of the reserve has doubled compared t=
o last semester. This is to lower our $475,000 surplus. A healthy depletion=
of the surplus involves slowly decreasing the amount withdrawn from the re=
serve each semester, starting at 100k and decreasing by 20k each semester. =
Because groups like Finboard and Student Faculty dinners do not spend all o=
f their allocated money, I do not expect to reduce our surplus by exactly 1=
00k.<br>
<br></div><div>- I have increased Fresh Fund by $1000 (from 3000 to 4000). =
This is to allow more new student groups to have an easier start to funding=
their initial projects.<br></div><div><br></div><div>- The education commi=
ttee has a $6000 increase to fund a new project. The project will allow pro=
fessors to have complimentary breakfasts in the MIT dining halls. This will=
increase the amount of student-faculty interaction. There is a plan in pla=
ce to start this plan only at Maseeh and eventually be in place in all the =
dorms. The committee is also working on methods to make sure this project e=
ffects students not on the dining plan as well.<br>
<br></div><div>- Public relations is receiving more funds this year to hold=
more study breaks, but more importantly focus on communicating to students=
what the UA is and what the UA does.<br><br></div><div>As I said before, p=
lease contact me with any further comments or questions.<br>
<br></div><div>Thanks,<br></div><div>-Ryan McDermott<br>UA Treasurer 2014-2=
015<br></div><div><br></div><div><div></div></div></div>
</blockquote></div><br></div>
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