University of Missouri

47-41: An Act to Allocate Remaining Carryover to the New Student Center Equipment Fund

PURPOSE: To allocate the projected carryover in excess of $40,474.42 from the FY2008 MSA Budget to the New Student Center Equipment Fund.

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, 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, the original projection for carryover funds from the FY2008 budget was $40,474.42, and

WHEREAS, Senate Speaker Jonathan Mays conducted a review of Peoplesoft expenditures and found that the original projection for carryover was incorrect and calculated a new projection, and

WHEREAS, the new projection for carryover from the FY2008 budget is $116,746.04, and

WHEREAS, this new projection is an increase of $76,271.62 over the original projection.

THEREFORE, be it enacted by the Missouri Students Association Senate that at the beginning of budget FY2009, any amount of money over the original projection be allocated to the New Student Center Equipment Fund.

Respectfully Submitted,

Aaron Wynhausen            Chelsea Johnson
Budget Committee Chair        MSA Vice President
Seth Botts                Matt Schiffman        Danielle Bellis
Budget Committee Vice Chair    Budget Committee Secretary

Gwen Daniels            Matthew Sheppard        Patrick Wiemar
MSA Senator            MSA Senator            MSA Senator