CORe Budget for 2005-06
The majority of CORe’s budget comes directly from the students of Olin College in the form of the Student Activity Fee (SAF) paid by each enrolled student at the beginning of the academic year. The SAF is set at $150 per student for the 2005-2006 Academic Year. With 292 enrolled students the total CORe SAF Allocation is $43,800. Additionally, the Office of Student Life (OSL) allocates money to CORe to be spent for specific purposes.
The following table breaks down the CORe Budget by Category.
| Category | '04-'05 Rollover | '05-'06 SAF | OSL | Total |
|---|---|---|---|---|
| CORe Operating Expenses | - | - | $1500 | $1500 |
| Student Activities Committee | $2000 | $6000 | $14000 | $22000 |
| Club Funding | - | $27000 | - | $27000 |
| Class Event Funding | - | $3000 | - | $3000 |
| New Initiatives Fund | $5000 | $7800 | - | $12800 |
| Totals | $7000 | $43800 | $15500 | $66300 |
Please Note: These are only approximate figures.
Budget Process
After the Board of Trustees officially sets the Student Activities Fee, the CORe Executive Board (E-Board) meets to determine the overall breakdown of the SAF funds for the upcoming year. At the end of that meeting, the amounts that get entered into the above table are essentially set.
Further budget breakdown is handled differently for each category.
The CORe Operating Expenses are allocated by actions of the CORe General Assembly (GA). Typically this involves the passage of a motion which allots a specific amount of the operating expenses for a specific purpose.
The Student Activities Committee (SAC) may allocate and spend any funds from the Office of Student Life by an action on its part (usually by consensus of its membership) with the Office of Student Life holding veto power. SAC allocates and spends its SAF funds by submitting line items to the CORe E-Board, which may either approve, deny, or defer the request to the GA.
Club Funds are allocated at a semi-annual meeting of the Caucus of Clubs and Organizations, during which each club establishes an individual budget representing a portion of the total SAF Club Allocation. Clubs then submit line items to the E-Board for approval to spend their CCO Allocation.
Class Event Funds are entrusted to the elected Class Representatives for each graduating class. Each class receives $750 to spend on class events.
The New Initiatives Fund is kept as a fund to insure there are funds available for events and activities not budgeted at the beginning of the year. Funds are allocated by line items submitted to and approved by the GA.
On the Olin network, you can access the most updated club budget at \\fsvs01\StudentGroups\CORe\Budget\