By ROBERT HICKMAN
The Student Finance Board (SFB) is the governing body that determines which campus organizations are granted funding for events. The money they allocate is drawn from the Student Activities Fee, a component of tuition that all students must pay. It was recently brought to my attention that SFB currently holds a surplus of funds exceeding $1 million – a curiously large sum to simply be sitting around untouched. So I decided to investigate.
In my interview with SFB Executive Director Michael Stolar, I learned a number of things that are worth sharing with the wider campus community. Most importantly, he confirmed that the SFB holds reserves exceeding $1 million in an interest-bearing account. At one time, Stolar said, SFB attempted to spend all of its budgeted funds within a particular school year – but for the last ten to fifteen years, unused money has been added to the reserve.
When asked why SFB withholds funding for events even with this significant amount stashed away, Stolar said the issue had never been taken up by organizations strapped for funds.
But presumably, few (if any) are currently aware of this vast swath of unused dollars.
Some food for thought: If you are a member of an organization that is unfunded or under-funded, you should actively pursue funds from this reserve. SFB’s office is located in the Brower Student Center Room 231A, and their main telephone is 609-771-3187.