SA R4 (2014-2015): Addressing the Student Activity Fee Endowment Fund

Conveyed to the President

• Resolution:
  SA R4 (2014-2015): Addressing the Student Activity Fee Endowment Fund
• Day:
  October 11, 2014
• Action:
  Conveyed to the President
• Summary / Notes:
  Clarification, as requested
• File Attachments:
• Text Attachment:

  Dear President Skorton, 

  Thank you for taking the time to review this resolution in depth. We are very excited to move forward with the SAIF. 

  Here is the answer to your question, from our Vice President of Finance, Matthew Stefanko: 

  "I hope you are doing well. I wanted to address your question in the most recent email sent to President Balik. The SAF endowment fund will be used to continually fund the Student Assembly Infrastructure Fund. The endowment will not be used for anything other than the SAIF. Two years ago, we stopped disbursing funds to the fund from the Student Activity Fee and we plan on operating off of the interest that the fund generates. 

  As specified in the resolution, the interest generated over the previous 12 months will be moved from the SAF endowment fund to the Student Assembly operating account. Once the amount on the projects is determined, we will move the money back into the SAF endowment fund to continue to collect interest. 

  I'd be more than happy to hear any additional suggestions you might have on making this process more streamlined, but we believe this solution is both efficient and sustainable." 

  Best, 

  Sarah