By Jason Arthurs
Staff Writer
While Student Congress might finish this semester with an unexpected surplus in this semester's budget, it faces a debt $44,000 larger than usual due to optimistic projections in last year's annual budget funded by student fees.
Congress plans to pay off the debt next semester, a move that will leave few dollars available at that time for campus groups, said Finance Committee Chairman Mark Townsend.
Only a few weeks ago, Congress faced a quickly dwindling pool of funds to allocate to campus groups this semester, taking time to question exactly how it would dole out the remaining dollars in the subsequent allocations fund.
But when no groups requested money during the final finance committee meeting, leaving $5,431 originally earmarked for allocations this semester, Congress and student body leaders began looking ahead to next semester - specifically to fill in a more than $44,000 hole dug just last year, Townsend said.
"We're going to take all this debt and eat it next semester," he said. "We just want to nip it in the bud."
Student Body Treasurer Patrick Frye said that while Congress typically runs in the red because of miscalculations of revenues from student fees, overly optimistic projections and a start-off deficit of $5,195 caused the current debt to be about $44,000 more than it should be.
Frye said the $193,666.90 annual budget for 2000-2001, drawn in February of last year, is between 5 and 11 percent higher than it should have been.