University of Missouri

47-36: Contingency and Reserve Request To Properly Designate Association Funds Remaining From Fiscal Year 2007: MSA New Student Center Furnishings

Contingency and Reserve Request To Properly Designate Association Funds Remaining From Fiscal Year 2007: MSA New Student Center Furnishings

PURPOSE: To request funds from the MSA Contingency and Reserve Fund which are present because of rollover funds from FY07

WHEREAS, All MSA entities were very conservative in their financial expenditures in the last fiscal year, and

WHEREAS, in 2005, the Missouri Students Association passed legislation approving a $35.00 student fee increase for the construction of a New Student Center, and

WHEREAS, This fee increase would go towards 30 year revenue bonds while the rest of the sources would be from Student Auxiliary Services, Campus Dining Services, Residential Life, and Recreational Services Reserves; which are all intended to cover the original projection cost of $62,050,415, and

WHEREAS, In the original cost of the building only $2,750,000 out of the $62,050,415 was budgeted for furniture and equipment throughout the entire student center, and

WHEREAS, MSA’s projected costs for executive office furniture alone exceeds $100,000, and

WHEREAS, MSA and other student groups have already set aside significant amounts to cover their projected costs for furniture as follows:

ASUM            $45,000.00
Maneater        $85,000.00
ORG            $80,061.00
MSA            $85,000.00

WHEREAS, These funds are going towards furniture only, and

WHEREAS, KCOU, MUTV, and the Craft Studio together have projected costs of nearly $1,000,000 for new equipment at the time of their transitions into the New Student Center and Memorial Union, and

WHEREAS, KCOU, MUTV, and the Craft Studio will not be able to fully function unless new equipment is available at the time of their transitions, and

WHEREAS, KCOU and MUTV will not transition into the New Student Center until Phase II, yet the Craft Studio will be moving into Memorial Union this summer and will need to purchase new equipment soon to sufficiently fill their increased amount of space and to increase their future revenues, and

THEREFORE, be it resolved by the Missouri Students Association Senate to allocate $56,000.00 to the New Student Center Equipment fund to aid in the significant funding costs that will be needed for MUTV, KCOU, and Craft Studio equipment.

Respectfully Submitted,

Chelsea Johnson                        Jim Kelley
MSA Vice President                        MSA President

Corey Gibson                            Aaron Wynhausen
Operations Chair                        Budget Chair