[1990] in UA Exec
Re: UA Fall 2014 Budget
daemon@ATHENA.MIT.EDU (Gaurav Singh)
Sat Aug 23 21:34:29 2014
In-Reply-To: <CAPzbeqBCaLK5iu6Jw4p6fZVs8JJwYjupwd1_LcUj+g6n7cns8Q@mail.gmail.com>
From: Gaurav Singh <gauravjs@mit.edu>
Date: Sat, 23 Aug 2014 21:34:02 -0400
To: Ryan McDermott <mcdryan@mit.edu>
Cc: "ua-council@mit.edu" <ua-council@mit.edu>,
"ua-officers@mit.edu" <ua-officers@mit.edu>, ua-exec <ua-exec@mit.edu>
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Hi Ryan,
Ah sure, I can clarify that. I wanted to know how much the UA spent on each
expense category in the Spring, such as the individual committees, or
finboard as a whole. I wanted to get a better idea of how our expenses
compared to the money that we allocated. Hope that clears it up.
Thanks,
Gaurav
On Sat, Aug 23, 2014 at 9:05 PM, Ryan McDermott <mcdryan@mit.edu> wrote:
> 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">Hi Ryan,<div><br></div><div>Ah sure, I can clarify that. I=
wanted to know how much the UA spent on each expense category in the Sprin=
g, such as the individual committees, or finboard as a whole. I wanted to g=
et a better idea of how our expenses compared to the money that we allocate=
d. Hope that clears it up.</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 9:05 PM,=
Ryan McDermott <span dir=3D"ltr"><<a href=3D"mailto:mcdryan@mit.edu" ta=
rget=3D"_blank">mcdryan@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><div><div>Hi Gaurav,<b=
r><br></div>Sorry, can you be a bit more clear of record of spending? Do yo=
u mean the entire UA or just Finboard or some other subset of the UA?<br>
<br></div>I will let Shruti explain the UA initiation dinner and Will Jack =
(chair of Innovation committee) explain his budget as they can speak to the=
m better than I can, and I will add some explanation to things after they r=
espond 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"><div><div class=3D"h5"><br>=
<br><div class=3D"gmail_quote">On Sat, Aug 23, 2014 at 8:25 PM, Gaurav Sing=
h <span dir=3D"ltr"><<a href=3D"mailto:gauravjs@mit.edu" target=3D"_blan=
k">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><div><div clas=
s=3D"gmail_extra"><br><br><div class=3D"gmail_quote">On Sat, Aug 23, 2014 a=
t 2:46 PM, Ryan McDermott <span dir=3D"ltr"><<a href=3D"mailto:ua-treasu=
rer@mit.edu" target=3D"_blank">ua-treasurer@mit.edu</a>></span> wrote:<b=
r>
<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>
</div></div></blockquote></div><br><br clear=3D"all"><br></div></div><span =
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</font></span></div>
</blockquote></div><br></div>
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