Please note: This notice was originally incorrectly identified as Union Board instead of SGA.  Apologies for the error.

This notice is part of efforts to increase transparency of the board’s proceedings and decisions to clear the air, and communicate better with student organizations.

Finance Board Notice
At the past hearing on February 2, 2013, requests from student organizations amounted to $430,000. At this hearing, the amount available for allocation was between $50,000 and $75,000. This was because 1) a substantial amount was already allocated for the semester at the previous hearing on November 10, 2012 ($285,000 of $450,000 available for the entire semester and of $600,000 requested), as majority of requests are proposed for then; and 2) The expected additional funds from the Stuart School of Business move has not yet been deposited into the SAF. We are expecting this to happen soon.

The board gave priority generally to on-campus events and conferences based on the type of organization, while food had the least priority. Organizations would notice in their decision letters that some items were not considered a priority. Please note that these decisions were made based on budget requests across the board, and how impactful these items would be to the ENTIRE student body. The board is aware that there may be dissatisfaction, but we do put a lot of time and thought into making these decisions to maximize impact on the student body.

The board thus made allocations in the amount of $56,000. representing a 13% allocation rate based on requests ($430,000) and a 75% allocation rate based on the available funding cap at the hearing($50,000-$75,000). We advise student organizations to contact their advisors or the board at fb@iit.edu without hesitation, to address any concerns.

There is one more hearing for spring 2013 requests, on March 2, and advising. This will be the last hearing to fund any spring 2013 events/requests. We expect about $50,000-$75,000 to be available at this hearing. We advise student organizations to read through our guidelines and communicate more with the board so there is more understanding of the procedures and reasoning for decisions.

Sincerely,
Emmanuel Klu
Chair