The Student Services Finance Committee passed a revised plan Thursday, to allow General Student Services Fund groups to voluntarily returned funds that are no longer necessary.
GSSF groups are supported by segregated fees and allocated by SSFC.
“If GSSF student organizations budget a little too high, they can return that money,” SSFC Chair Devon Maier said. “The revised act allows us to ensure funds are returned responsibly.”
According to the new Midyear Return Responsibility Act, the previous structure lacked a standardized set of procedures and incentives for groups to return unspent funds.
Midyear returns may be submitted for this year until March 4, 2016, giving groups enough time to balance finances. Returned funds are regularly seen for staff vacancies and unexpected savings as budgets are made two years in advance, Maier said.
Although the request states the SSFC chair will approve midyear budget returns at the chair’s discretion, Maier said he does not see a reason to disapprove a midyear return.
“We had seen about $5,000 returned this year, so hopefully we will see more in the future,” Maier said. “This is also the first year that it occurred.”
