[144] in UA Senate
Re: 41UAS2.3: Bill to Authorize the Treasurer to Reallocate Money to
daemon@ATHENA.MIT.EDU (Daniel Hawkins)
Sun Oct 18 15:15:55 2009
Reply-To: hwkns@MIT.EDU
In-Reply-To: <4ADB5D9E.2000802@mit.edu>
Date: Sun, 18 Oct 2009 15:15:28 -0400
From: Daniel Hawkins <hwkns@MIT.EDU>
To: Alex Dehnert <adehnert@mit.edu>
Cc: Quentin Smith <quentin@mit.edu>, UA Senate <ua-senate@mit.edu>
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I'm not opposed to this bill, but it seems to me that we're patching holes
in the system instead of fixing it. Why don't we have detailed information
on what happens to the reserve account (deposits, withdrawals, interest,
current balance, etc.)? It's kind of scary that the UA Treasurer doesn't
have access to that information.
-hwkns
On Sun, Oct 18, 2009 at 2:25 PM, Alex Dehnert <adehnert@mit.edu> wrote:
> Not quite. This would primarily (in my mind) allow money to be rolled ove=
r
> much faster --- unused Athletics Weekend money from October could be
> allocated in November, instead of waiting until the next April or so.
>
> In theory, at least, money that rolls over into the reserve gets withdraw=
n
> for use in the next semester's budget, though I'm not sure that that has
> happened in recent memory. (It turns out to be somewhat difficult to
> determine exactly how much money has rolled over into the reserve, since =
I
> can't directly get reports on the reserve...)
>
> ~~Alex
>
>
> Quentin Smith wrote:
>
>> So what you're actually proposing here is for excess committee funds to =
be
>> rolled over into finboard, instead of into the invested reserve account?
>>
>> --Quentin
>>
>> On Sun, 18 Oct 2009, Alex Dehnert wrote:
>>
>> I wrote a bill which is available at
>>> http://web.mit.edu/ua/senate/UAS41/2/moving-money/moving-money.pdf.
>>>
>>> The bill authorizes the treasurer to:
>>> * reallocate funds from a committee to the pool of funds that the Finan=
ce
>>> Board helps allocate to student groups for the next funding period; and
>>> * Requires that such reallocations be approved by the committee chair
>>> losing said funds; and
>>> * That the Senate, Finance Board, and affected Chair must be informed o=
f
>>> each such reallocation; and
>>> * That such authorization shall expire at the end of the 2009=962010 fi=
scal
>>> year unless renewed by Senate.
>>>
>>> I'm happy to answer any questions that you have. It would be awesome if
>>> we can get most questions out *before* Senate, so that Senate can be sh=
ort
>>> without being much less effective.
>>>
>>> ~~Alex
>>>
>>>
>
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I'm not opposed to this bill, but it seems to me that we're patchin=
g holes in the system instead of fixing it.=A0 Why don't we have detail=
ed information on what happens to the reserve account (deposits, withdrawal=
s, interest, current balance, etc.)?=A0 It's kind of scary that the UA =
Treasurer doesn't have access to that information.<br>
<br>-hwkns<br><br><div class=3D"gmail_quote">On Sun, Oct 18, 2009 at 2:25 P=
M, Alex Dehnert <span dir=3D"ltr"><<a href=3D"mailto:adehnert@mit.edu">a=
dehnert@mit.edu</a>></span> wrote:<br><blockquote class=3D"gmail_quote" =
style=3D"border-left: 1px solid rgb(204, 204, 204); margin: 0pt 0pt 0pt 0.8=
ex; padding-left: 1ex;">
Not quite. This would primarily (in my mind) allow money to be rolled over =
much faster --- unused Athletics Weekend money from October could be alloca=
ted in November, instead of waiting until the next April or so.<br>
<br>
In theory, at least, money that rolls over into the reserve gets withdrawn =
for use in the next semester's budget, though I'm not sure that tha=
t has happened in recent memory. (It turns out to be somewhat difficult to =
determine exactly how much money has rolled over into the reserve, since I =
can't directly get reports on the reserve...)<br>
<font color=3D"#888888">
<br>
~~Alex</font><div><div></div><div class=3D"h5"><br>
<br>
Quentin Smith wrote:<br>
<blockquote class=3D"gmail_quote" style=3D"border-left: 1px solid rgb(204, =
204, 204); margin: 0pt 0pt 0pt 0.8ex; padding-left: 1ex;">
So what you're actually proposing here is for excess committee funds to=
be rolled over into finboard, instead of into the invested reserve account=
?<br>
<br>
--Quentin<br>
<br>
On Sun, 18 Oct 2009, Alex Dehnert wrote:<br>
<br>
<blockquote class=3D"gmail_quote" style=3D"border-left: 1px solid rgb(204, =
204, 204); margin: 0pt 0pt 0pt 0.8ex; padding-left: 1ex;">
I wrote a bill which is available at <a href=3D"http://web.mit.edu/ua/senat=
e/UAS41/2/moving-money/moving-money.pdf" target=3D"_blank">http://web.mit.e=
du/ua/senate/UAS41/2/moving-money/moving-money.pdf</a>.<br>
<br>
The bill authorizes the treasurer to:<br>
* reallocate funds from a committee to the pool of funds that the Finance B=
oard helps allocate to student groups for the next funding period; and<br>
* Requires that such reallocations be approved by the committee chair losin=
g said funds; and<br>
* That the Senate, Finance Board, and affected Chair must be informed of ea=
ch such reallocation; and<br>
* That such authorization shall expire at the end of the 2009=962010 fiscal=
year unless renewed by Senate.<br>
<br>
I'm happy to answer any questions that you have. It would be awesome if=
we can get most questions out *before* Senate, so that Senate can be short=
without being much less effective.<br>
<br>
~~Alex<br>
<br>
</blockquote></blockquote>
<br>
</div></div></blockquote></div><br>
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