University of Missouri

48-36: A Recommendation Against an Inflationary Fee Increase for the Student Fee Capital Improvement Committee, and for Allowing that Committee to Reinvest Endowment and Gift Fund Monies in Their Own Endowment Fund to Supplement Future Capital Improvement Projects

Whereas, the Student Fee Capital Improvement Committee of the University of Missouri, hereafter referred to as SFCIC, operates with the mission of advising the Vice Chancellor for Student Affairs on the allocation of funds generated by the capital improvements portion of the student fee, accepting proposals for funding from students, organizations, faculty and staff, and managing the construction of those proposals from students, faculty and staff deemed to provide maximum benefit to students; AND
Whereas, the SFCIC solicits proposals primarily through coordination with university organizations, student government leaders, and the SFCIC’s website; AND
Whereas, some projects completed by the SFCIC include Furnishing the concrete patio area at the east corner of Memorial Union North, purchasing and installing a gas fireplace in Tower Lounge of Memorial Union, building new tennis courts on campus, purchasing and installing outdoor seating adjacent to the New Student Center, building six additional posting kiosks, purchasing and inflatable movie screen for MSA, purchasing and placing 50 recycling bins, upgrading the emergency telephone system; AND
Whereas, University of Missouri students have continued to pay a portion of the monies used for capital improvements on campus or approximately $226,000 (78% of the total capital improvement funding); AND
Whereas, the SFCIC now receives supplemental annual funding through the establishment of an Endowment Gift Fund totaling approximately $13,500; AND
Whereas, the SFCIC also receives an annual share of the Hearnes Fee Interest Income totaling approximately $28,500 for capital improvement purposes; AND
Whereas, it has been acknowledged that in light of the above funding, an inflationary increase would not be essential to maintain adequate funding for capital improvements for the coming fiscal year, AND
Therefore, be it resolved that no inflationary increase be granted for FY2009; AND
Furthermore, the Student Fee Review Committee recommends that the SFCIC be allowed to reinvest both annual apportionments (Hearnes Fee Interest and the Endowment Gift Fund monies) in SFCIC’s own endowment fund as necessary, for the sole purpose of supplementing future capital improvements, and managing the fluctuation of costs typical in capital improvement projects.

Respectfully Submitted,

Student Fee Review Committee