[1989] in UA Exec
Re: UA Fall 2014 Budget
daemon@ATHENA.MIT.EDU (Ryan McDermott)
Sat Aug 23 21:05:18 2014
In-Reply-To: <CAK_5beo9nShVknhrnSjjQD9LPdhwiCgnfroHTs2vFLd6=kODwg@mail.gmail.com>
Date: Sat, 23 Aug 2014 21:05:13 -0400
From: Ryan McDermott <mcdryan@mit.edu>
To: Gaurav Singh <gauravjs@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 Gaurav,
Sorry, can you be a bit more clear of record of spending? Do you mean the
entire UA or just Finboard or some other subset of the UA?
I will let Shruti explain the UA initiation dinner and Will Jack (chair of
Innovation committee) explain his budget as they can speak to them better
than I can, and I will add some explanation to things after they respond if
needed.
Thank you for the questions to start the discussion.
Best,
-Ryan M
On Sat, Aug 23, 2014 at 8:25 PM, Gaurav Singh <gauravjs@mit.edu> wrote:
> 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"><div><div><div>Hi Gaurav,<br><br></div>Sorry, can you be a=
bit more clear of record of spending? Do you mean the entire UA or just Fi=
nboard or some other subset of the UA?<br><br></div>I will let Shruti expla=
in the UA initiation dinner and Will Jack (chair of Innovation committee) e=
xplain his budget as they can speak to them better than I can, and I will a=
dd some explanation to things after they respond if needed.<br>
<br></div>Thank you for the questions to start the discussion.<br><br>Best,=
<br>-Ryan M<br></div><div class=3D"gmail_extra"><br><br><div class=3D"gmail=
_quote">On Sat, Aug 23, 2014 at 8:25 PM, Gaurav Singh <span dir=3D"ltr"><=
;<a href=3D"mailto:gauravjs@mit.edu" target=3D"_blank">gauravjs@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">Hi Ryan,<div><br></div><div=
>Could we get a record of spending from last semester? Also, could you clar=
ify 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 discretio=
nary budget? The only other committees with similar levels of discretionary=
budget are officers/council, and special projects, which by their nature h=
ave more unanticipated spending.</div>
<div><br></div><div>Thanks,</div><div>Gaurav</div></div><div class=3D"HOEnZ=
b"><div class=3D"h5"><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">&=
lt;<a href=3D"mailto:ua-treasurer@mit.edu" target=3D"_blank">ua-treasurer@m=
it.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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