Over the course of the last fiscal year a surplus was accumulated for the overall allocated segregated fee fund and it will remain in the account in case of emergencies.
The surplus came to a total of about $214,000, which is the typical average of institutions similar to the University of Wisconsin-Stevens Point. The Student Government Association is in charge of this money and goes through the process of allocating budgets to student organizations.
“This happened because someof the money that we allocated to student organizations did not get spent,” said David Boardman, the vice president of SGA, “Any of the money organizations that did not spend from their budgets for the year comes back to us and that is where the $214,000 came from.”
Though $214,000 may seem like quite a bit of money, in retrospect it is a normal amount to have on reserve. At a minimum, there a $100,000 reserve on hand in case of an emergency. This reserve is utilized in cases like the recent flooding of the Dreyfus University Center basement.
“So in reality we only have around $100,000 over our minimum amount,” Boardman said. “As for our plans for that, we have no initial plans but it is perfectly healthy to keep that money on hand for future unexpected events.”
The extra money saved can keep students from having to pay extra fees if an accident were to happen on campus.
“I think that it’s important to note that as for our total allocations of $13 million we are right in line with any other institution,” said Charlie Greiber, budget director for SGA. “Granted, it is more than we normally keep, but in no way is it out of line.”
With this money reserved, it will be available if overspending occursin the future. “Taking out loans can cost more money in the long run as opposed to having that money just in case,” Greiber said.
SGA is open to answer any questions students may be confused about regarding budgets or allocated segregated fees.
“We would like students to know that this is something we take very seriously,” Boardman said.
“There is no secret, maybe the biggest secret is that there are no secrets,” Greiber said. “If anyone wants to know they are more than welcome to come and ask.”