Word: ficom
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...runs out of money and must make an end-of-the-year, across-the-board cut for all student groups in the last grants package, this practice is the most fiscally responsible, fair, and un-arbitrary way that the UC can handle its money shortage. The UC Finance Committee (FiCom) should be applauded for employing such a method already, and the cut should be institutionalized in UC FiCom practices for future councils to continue the practice...
...important to remember that the real culprit of this fiscal dilemma is neither fiscal irresponsibility nor inability of the UC leadership to budget their finances appropriately, but rather a vibrant student social life, an efficient FiCom doing its job in a timely manner, and a finite UC budget which will inevitably fall short of the demand for student group funding. So long as there is greater student demand than UC funds can accommodate, something’s got to give. The end-of-the-year grants package cut ensures that the UC handles this shortage consistently, fairly, and predictably, without...
...parties was “casual” and not assigned, the UC this semester abandoned a short-lived policy of visiting sponsored parties to make sure that they were adhering to UC party grant terms—including that the event provide some food and non-alcoholic beverages. FiCom Chair Zander N. Li ’08, also a Crimson editorial editor, said the change came because the UC now disbursed its party grants by reimbursing receipts, not paying up front. The DAPA grant program was piloted during Harvard-Yale weekend, according to Director of the Office of Alcohol...
...first hour of the 90-minute UC session was dominated by heated debates over the Financial Committee’s (FiCom) grants packages. Representatives from the Harvard College Democrats and the Harvard Republican Club were present to lobby against the UC’s decision to fund less than a third of the grant requested for the 2007 Bipartisan Paintball Brawl. After discussion over the role of precedents in granting UC funding, and whether or not the UC should fund entertainment activities, the council voted to grant the full amount requested by the organizers of the event...
...FiCom has a tough process balancing the need for satisfying student expectations for grant funding while maintaining fiscal responsibility,” Petersen said after the meeting. He added that FiCom wants to be “more transparent” to student groups about what grants will and will not be funded...