Treasury change allows groups to roll over their unbudgeted income
September 18Student groups funded by the Tufts Community Union (TCU) no longer have to turnover any unbudgeted income -- money raised beyond the amount budgeted to them -- to the TCU at the end of the year. The rule was changed last spring, and renewed last Sunday at the signatory meeting. This change will encourage groups to raise more money on their own and be more self-reliant, according to TCU Treasurer Josh Belkin. "It's been a general complaint, 'why do we lose all of our money?'" Belkin said. "This new system keeps TCU financially healthy, but lets groups keep what they earn from their hard work." In the past, unbudgeted income that groups either raised or received from donations donated and was not spent during the year was given to the TCU and placed in the TCU's buffer fund. On average, between 20 and 30 thousand dollars were submitted. The ultimate goal of this rule change is to encourage groups to do more fundraising on their own and be less reliant on TCU money, allowing the Senate to fund additional groups. "Even though it is a small hit we're taking, hopefully in the long run it will be beneficial to the treasury," Belkin said. "It will give us more buying power in the future." The change came about due to a particularly good season for Hillel's a cappella group Shir Appeal. The group raised considerably more than it was budgeted, but then needed to spend the money or submit it to the buffer fund. Belkin said, "[Shir Appeal] now has this money for future years. Under the previous rule it would have been 'wow, that was great, now give us the money.' This isn't necessarily fair, and the new system creates fairness and incentives." Hillel does not plan to alter its programming for the year in any way, but Hillel Treasurer Max Leichman Snyder agreed that the change made was a good one. "It's great that we can save [the money] from year to year," he said. "It's money that we made and it's good that it can fund us." The Leonard Carmichael Society (LCS) does outside fundraising, but all its money is donated to charitable events. The budget for LCS is set for the current year, and while LCS "doesn't currently ask for donations, that may be an option in the future," said LCS President Lisa Fishlin. The TCU buffer fund serves three main purposes. Groups can apply for additional funds if they run through their budget before the end of the year. The fund also serves new groups that are founded after the budget has been passed in the spring; and it provides money for groups that want to make large purchases, such as computers. The buffer fund does not rely solely on the unbudgeted income of student groups -- most of the money comes from the student activities fee. Because this is the first year that groups will be able to rollover funds for themselves, it is not clear yet what the impact will be on TCU or how it will change groups' fund raising policies. Belkin is not concerned, however. "There is plenty of money in the surplus fund -- we're just letting groups keep what is theirs," he said.

