ASUS passes budget in the black

The Arts and Science Undergraduate Society (ASUS) recovered from 2004-05’s $26,403 loss and posted a $9,358 profit in 2005-06.

Lyndsey Hannigan, last year’s ASUS vice-president and chief financial officer, said when she budgeted last year, she had to be tactful.

“I had to allot every single penny coming into the society to a different budget line … so all the money was budgeted for,” she said.

Hannigan said the society was lucky last year because more students came than they had planned: With a $19.61 student fee, ASUS received more money because more students enrolled at the University.

“We were very lucky with student fees … and it’s a good reflection of the University,” she said.

She said nothing changed drastically from 2004-05 in terms of expenses.

“The changes that were made were made on behalf of everybody … That’s everything from my commissioners really valuing creative thinking on a tight budget,” she said. “Nothing was cut that was substantially different. Even though the society was in debt last year, we still get that huge chunk of money from student fees.”

Hannigan said it was a challenge as ASUS’s chief financial officer to recover from the 2004-05 deficit.

“It sucks to have to prove yourself all year, but at the same time we’re very fortunate to have that constant injection of funds into the society every year.”

Assembly has to approve the previous year’s budget before it has access to this year’s funds. After approving last year’s completed budget, assembly members unanimously approved the projected budget for 2006-07.

One addition to this year’s budget includes $2,000 being put into a student lounge which will be in place once the first floor of the ASUS house is renovated.

Kyle Abrey, this year’s ASUS vice-president, said now that the budget has been approved, renovations and purchases will begin shortly.

Anyone will be welcome to use the renovated space and committee members will be able to hold meetings there, he said.

Another budget increase was made in the Student Initiatives Fund from $1,087.43 to $2,000.

Abrey said the increase in student grants was part of their campaign.

“It’ll help individual students with their goals … and more money is going back to students directly,” he said.

He also congratulated Hannigan for her work last year.

“[This year], we’re in the black and everything’s in order. It’s a good year to be on assembly.”