Student Assembly

Resolution 22 SDPB and SAFC Endowment Fund

Whereas the Student Assembly Finance Commission (the Commission) is a committee of the Student Assembly (the Assembly) chartered under Bylaw 7.5.a.5 of the Assembly;

Whereas Appendix B, Section 4.L.5 (the Rule) of the Charter (the Charter) of the Assembly states, regarding the portion of the Student Activity Fee (the Fee) allocated to the Commission,

Five dollars per student per year shall be placed in a University endowment fund. The SA shall create guidelines for use of the endowment.

Whereas the University, in compliance with the Rule, commits a portion of the fee to the Commission’s endowment at the end of each fiscal year;

Whereas the University has yet to commit the 2008–2009 fiscal year contribution to the endowment fund.

Whereas the University, in response to economic conditions, has announced reductions in funding for several programs, including the Slope Day Programming Board (SDPB);

Whereas it is the sense of the body that the impact of economic conditions could not be anticipated at the time that Appendix B of the Charter was last reviewed and adopted;

Whereas it is the sense of the body that the anticipated cuts will severely impact SDPB’s operations and the student community;

Whereas it is the sense of the body that the 2008–2009 fiscal year contribution to the commission’s endowment would better meet the needs of the student community if applied to SDPB instead;

Whereas Article II, Section 2 of the Charter states:

Any voting members of the SA may present an amendment to the entire SA for consideration. Within two regularly scheduled meetings after such presentation the SA will discuss and vote on the proposed amendment(s). Under no circumstances will this Charter be amended without the consent of two-thirds of the voting members of the SA. Be it therefore resolved that the Rule be amended as follows with insertions indicated in bold and deletions in strikethrough:

Five dollars per student per year shall be placed in a University endowment fund, except the yearly investment contribution during fiscal year ending in 2009 shall be redirected to a holding account to be managed by the Appropriations Committee. This account is intended to support SDPB to an amount to be determined through further analysis of the Slope Day Budget with SDPB and the Appropriations Committee. If a contribution to SDPB is necessary all remaining funds will be invested into the endowment fund, also if no contribution is made the full value of the holding account will be invested in the endowment fund as regularly scheduled. The Appropriations Committee shall also create guidelines for use of the endowment.

Be it further resolved that the Assembly declares invalid all bylaws and rules of the Commission inconsistent with the Rule as amended to the extent that they are inconsistent;

Be it further resolved that the Assembly charges its Appropriations Committee, in collaboration with the Commission, to develop guidelines for use of the Commission’s endowment consistent with the Rule and to present those guidelines to the Assembly for its consideration no later than April 1, 2009;

Be it finally resolved that the President of the Assembly transmit this resolution to the President of the University for approval.

Respectfully submitted,

Gregory Mezey’09
Vice President for Finance