In a letter from Vice President of Student Success Dr. Jerome Ratchford to the Student Activities Budget and Advisory Committee, he asked for a $190,000 transfer to the contingency fund.
SABAC is the voting body that determines where and how student allocated funds are distributed among Registered Student Organizations. Dr. Ratchford asked for a transfer from Prior Year Surplus to the contingency fund in order to continue funding RSOs for the rest of the Financial Year.
In the SABAC meeting minutes from Nov 28 two options are discussed as to how to handle the $188,000 budget shortfall in FY13.
One option discussed was to take back 11 percent of funding that went to line item organizations, amounting to over $190,000.
The second option offered was to transfer $190,000 from the Prior Year Surplus fund into the contingency fund. According to the minutes this would leave $1.3 mil in the PYS fund for other emergencies.
Bob Wise, Director of Development for the College of Science and Mathematics, motioned for the $190,000 transfer from the PYS and the motion was passed in a eight to zero vote.
“We have spent $110,000 already so far this [financial] year,” the meeting minutes noted. “There [has] been an increase with more organizations that have started up and an increase in fees also. We would fully support this transfer to help these students with more funding.”
There has been no mention of this transfer in the publicly available SABAC meeting minutes from this semester. In the first three meetings of this semester SABAC has allocated over $20,000 to 12 different organizations.
Public records of each board meeting are published at http://www.kennesaw.edu/studentsuccess/sabac.shtml and a meeting schedule is also available. SABAC meetings typically occur every other Wednesday during the semester from 3:30 to 5:30 p.m.
