University of Missouri

48-60: A Resolution to Account for $110,790.29 of Secured FY09 Carryover in the FY10 Budget Summary

WHEREAS, the MSA Vice President and Senate Budget Committee are entering the Fiscal Year 2010 allocation period of the MSA budget process, and

WHEREAS, accurate carryover projections are necessary to properly allocate funding for future fiscal years, and

WHEREAS, On April 16, 2008, MSA Senate passed Bill #47-40, which recorded an additional $68,810.35 of additional carryover beyond the original $40,474.42 projection provided to the Vice President and Senate Budget Committee on February 16, for a total projected carryover of $109,285.86, and

WHEREAS, Actual Fiscal Year 2009 carryover was $134,701.49, and
WHEREAS, On November 5 MSA Senate passed Bill #48-22, which summarized a three-year trend of underestimating MSA carryover:
Year     Projected     Actual         Diff         %Diff
FY06     $42,210.00      $57,899.40     $15,679.40      +37%
FY07     $44,273.00      $127,940.25      $83,667.25      +189%
FY08     $40,474.42      $134,701.49     $94,227.07      +233%
, and

WHEREAS, From January 29 to February 6, 2009, seven MSA departments and auxiliaries signed budget revisions that approved a reallocation of up to $42,808.87 from their Fiscal Year 2009 budgets, and

WHEREAS, There are no current plans for the immediate reallocation of the $42,808.87, and

WHEREAS, On December 10, 2008, MSA Senate passed Bill #48-44, which recommended a 5% reduction in the MSA Student Fee for Fiscal Year 2010, and

WHEREAS, Bill #48-44 stated:

Higher than expected enrollment in 2008-09 will result in approximately $40,000 in unbudgeted revenue, with equal or higher extra enrollment revenue in 2009-10

, and

WHEREAS, On December 31, 2008, and January 31, 2009, final Spring semester student fee deposits were placed in the MSA Student Activity Fees/Beginning Balance account resulting in a balance of $59,997.06, and

WHEREAS, After deducting approximately $1,200 for refunds during the remainder of Fiscal Year 2009, this results in an additional $58,900 of unbudgeted revenue, and

WHEREAS, In Fiscal Year 2008 and previous fiscal years, this funding has remained in the Student Activity Fees/Beginning Balance account and has not been budgeted for use in the fiscal year that it was received, and

WHEREAS, As of February 6, the MSA Contingency & Reserve account has a balance of $18,281.42, and

WHEREAS, The total of authorized reallocations, unbudgeted student fee income, and existing contingency and reserve balance is $119,990.29, and

WHEREAS, Reallocations and contingency & reserve requests to cover unbudgeted Fall Welcome salary and Technical Support labor expenses are expected to total $9,200, and

WHEREAS, After accounting for expected reallocations and contingency & reserve requests, the new total of secured carryover to be budgeted by the MSA Vice President and Senate Budget Committee is $110,790.29, and

WHEREAS, Bill #48-22 further stated:

Be it resolved by the Missouri Students Association Senate that MSA set a carryover target of no more than 5% of its total budget when recommending the amount of the MSA fee each fall and allocating the approved funding each spring.

WHEREAS, 5% of the $1,079,125 allocated Fiscal Year 2009 MSA budget is $53,956.25, and 5% of the total $1,238,348.56 Fiscal Year 2008 carryover and Fiscal Year 2009 student fee income is $61,917.43.

THEREFORE, be it resolved by the Missouri Students Association Senate that the MSA Vice President and Senate Budget Committee account for $110,790.29 of secured carryover in the Fiscal Year 2010 budget summary.

Respectfully submitted,

Jonathan Mays        Colleen Hoffmann        Amanda Shelton
MSA Senate Speaker        MSA Vice President        Operations Chair

Josh Travis            Dan Kelley            Matt Sheppard
Operations Vice Chair        Operations Committee    Budget Chair