Volume 93, Issue 87

Wednesday, March 15, 2000


Tuition capped for five years

USC budget predicting surplus

Teachers' association rallies in opposition of federal report

Future of endorsements faces council meeting

VP hopefuls stand up to the mic

New program to reward excellence

Bass Ackwards

Caught on campus

USC budget predicting surplus

By John Intini
Gazette Staff

The University Students' Council will decide at tonight's meeting if the USC's proposed budget numbers add up.

VP-finance Derrick Taub said he received little heat this past week regarding the budget which he presented at last week's meeting. Taub said he only had to answer a few questions from members of council who required clarity on minor issues. He said he expected the budget to pass tonight with relative ease.

"This budget addresses most people's concerns," Taub said. "Most of the major problems were cleared up at last week's [council] meeting."

Although many councillors agreed the budget would be ratified, they anticipated a lively debate.

"I think it will pass fairly easily, but I have some questions," said Rory Capern, the USC's Richard Ivey School of Business representative. Capern said he questioned the speed of recovery from the 1998-99 fiscal year's $339,000 deficit.

"A surplus in a student government is not always a good thing," he added, in reference to this year's $253,000 projected leap into the black. He added it was important for a corporation such as the USC to work as a non-profit organization.

Honours Business and Administration president Scott Zack said the surplus was not the result of responsible fiscal management as was stressed during its presentation. Zack said this year's surplus is a result of an inaccurate assessment of student enrollment, as the final numbers showed there were four per cent more students. Such an error, he said, allowed the USC to collect more revenue than first expected.

"Without the benefit of those [final numbers], they would have been running a deficit," he said. "The projections were off this year. If they're off the other way next year, there will be a serious problem."

Zack said a close look at the budget revealed the USC was not in great financial shape. There are some points of contention, he said, most notably concerning the Wave.

"Every year they project it's going into the black and every year it doesn't," he said. "They claim to have cut expenses [at the Wave] by $100,000, but at the same time their revenue has dropped by $200,000."

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