For the fiscal year 2015, student government has a net deficit of $209,498.01 — and while Congress usually has a net deficit, this is the first year student government has been in debt.
Priyesh Krishnan, chairperson of the finance committee, said the numbers are not exact because the budgeting process looks back at the year. The exact numbers will not be available until the end of the fiscal year, on June 30.
The net deficit is made up of revenue minus the expenditures of student government during the year. Krishnan said for the past six years, Student Congress has overspent its funds, but until this past year, there has always been a cushion.
Krishnan and Student Body Treasurer Lee Beckman have been working on ways to fix the debt without hurting current students.
“It’s not an easy problem, but we’re asking students to manage it … we need to give them the tools,” Krishnan said.