Times may be rough in America because of the recession, but for the University Student Union (USU) and their tactics to save money, the highlight of Monday’s board meeting was that with budget cuts and economic downturn, they can still remain calm in the midst of financial mayhem.
The meeting, which took place in the Grand Salon in the USU district at 1 p.m., comprehensively dissected the 6’amp;6 Quarterly Budget midway through conference.
‘I am happy to report that all things are going as planned,’ said the Associate Director of Finance and Business Services, Joe Illuminate. ‘We are overall in the optimal range in revenues and expenses.’
This budget takes the last six months of operating data ending in December 31, 2008 and the next six months of projected data in order to foresee the future of revenue.
‘We try and act responsible with student fees, I believe we’ve acted responsibly and that’s why we are in relatively good situation compared to many other colleges and even businesses,’ said the Board of Director’s Chair, Dan Monteleon.
Monteleon self-proclaimed the board as being conservative with the money they receive and their responsibility is demonstrated in the interest income report where the budget was reduced from $37,684 to $39,616 from the $77,300 income. The reduced projection proved to be too safe because interest income is now significantly above the optimal range.
‘It appears that we were a little too conservative and reduced by more than what was necessary but we are going be increasing it after the 3’amp;9 budgeting depending on what we receive,’ said Illuminate after addressing the reason why the budget was over the optimal range.
The report also highlighted the reserves the board highly counts on to keep them recession proof was at zero percent, however that does not mean the reserves were not used. So far during the quarter, there was a total of $160,954 distributed among working capital, contingency, salaries and benefits.
The report concludes that the overall net income is projected to increase from the board adopted surplus of $21,667 to $39,340. Resulting in an increase of $17,673.
On a departure away from numbers, the Executive Director Debra Hammond discussed the USU’s attempts to offer a new service to the students of CSUN. The board has acquired a subscription to ‘Cell-it’ which is a text messaging service that allows the USU to send messages and interact with students who sign up for the service online or at one of the promotional booths, according to the report.’
‘We are trying to use other kinds of technology to reach students more effectively,’ said Hammond about the project. ‘The option does seem to be working and the students like receiving the messages directly on their cell phone and it serves as a good reminder.’
The text messaging service has been recently used by students to RSVP to the upcoming ‘Black and White Dance’ scheduled Friday 27th. An approximate 250 CSUN students have already joined the mobile club.
Hammond also discussed the strategy to re-review the plans for the Student Recreation Center which had already been authorized to proceed on January 23rd, according to the report.
‘Things have changed substantially since August when the plans were submitted, and we have to see if it still makes sense to go forward with that plan as it is outlined,’ said Hammond. ‘It may be beneficial for us to take another look at it.’
Hammond is concerned that with budget cuts and America being involved in an economic downturn, that the board be wise with their decisions with distributing the money.
The USU Board will continue to be conservative with their spending especially during this time of hardship in America. ‘ ‘ ‘
‘We may need to make adjustments through the next couple years depending on how long and severe the economic downturn is, but we don’t see any short term significant issues because we’re so conservative with out money,’ said Monteleon.
