Word: ucã
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...insufficient to adequately fund all of Harvard’s 390 student organizations. On this page last March, for instance, former UC Finance Committee Chair Lori M. Adelman ’08, who had concluded her term as Chair the previous fall, wrote that “the UC??s grants fund is broke. Of the $285,000 it originally designated for student group funding, the UC has about $28,000 left.” This, with three months remaining in the 2006-2007 academic year, and a backlog of grant requests remaining to be denied...
...after so earnestly professing its insolvency, the UC is suddenly rich. This suggests that either the Harvard University Employees Credit Union is paying some suspiciously generous interest on its savings accounts, or else something is seriously amiss with the UC??s finances...
...under the assumption that the money will be spent on their activities, not saved for a rainy day. And even if the UC were within its rights to pinch pennies, it’s difficult to imagine what exactly a $63,791.21 rainy day would look like. Perhaps, the UC??s bean-counters will argue, this month’s showdown with University Hall is exactly the sort of cataclysm that savings ought to provide...
...will $63,791.21 buy the UC its financial autonomy from the administration? Not a chance. The amount is too much for a rainy day, and too little for a hurricane. Even if innocent clerical errors, late deposits from University Hall, and the UC??s emergency reserves are taken into account, there remain tens of thousands of dollars that ought to have been spent that were not. The miraculous shortfall-turned-windfall is almost certainly produced by a blend incompetence and unwarranted over-cautiousness, and not prescience, on the UC??s part...
...Last year, the UC began funding events in advance, based on budget estimates from student groups. Some of these pizza parties and happy hours are bound to come in under budget, leaving a little cash left over in the UC??s coffers. Other groups never file “completed project forms” with the UC??s Finance Committee, so their grant checks are never written. Still other checks go un-cashed. But if some groups are denied funding because other groups never actually claim their cash, then the UC??s budget...