[665] in UA Senate
Fall 2009 surplus
daemon@ATHENA.MIT.EDU (Alexander W Dehnert)
Mon Apr 26 05:42:00 2010
Date: Mon, 26 Apr 2010 05:41:56 -0400 (EDT)
From: Alexander W Dehnert <adehnert@MIT.EDU>
To: finboard@mit.edu
cc: ua-senate@mit.edu
Hi Finboard (and Senate),
As you may be aware, the Senate Bylaws state the following policy for
Finboard funding:
> 5. The remaining amount shall be added to the unspent surplus (if any)
> from the previous corresponding funding period. Each term, Senate shall
> request that the Finboard make a recommendation of funding for no more
> than this amount times the overallocation percentage. Recommendations
> for funding may only be granted to undergraduate ASA-recognized groups
> that request such funds.
Between the end of February and now, the reserve has increased by about
$20,000 as a result of the unspent surplus from fall semester being
transfered in.
In keeping with the Senate Bylaws, I believe Finboard may therefore
allocate up to ($104,628+$21,078.23)*1.10 = $138,276.85 during the
Summer/Fall 2010 round of Finboard allocations and appeals. This is an
increase over the $115,090.80 originally budgeted under the assumption
that all fall funds would be spent.
Please let me know if you have any questions, comments, or disagree with
my reading of the bylaws.
Thanks,
Alex Dehnert
UA Treasurer
