The USG donation would total more than $60,000, admittedly a mere drop in the bucket toward the current Annual Giving goal of $56 million for the year. But the symbolic significance of the gesture would far outweigh its monetary value. This reallocation of student fees would demonstrate that in an economic crisis, students value University-wide goals like increased financial aid ahead of luxuries that we usually take for granted.
The funds in question come from the USG’s social budget, and they constitute roughly a quarter of the USG’s total annual budget of more than $300,000. This money comes from the Undergraduate Activities Fee, a $65 charge paid annually by every undergraduate.
If passed, the referendum would essentially reallocate $10 or more from every student from social events to Annual Giving. At a minimal cost to individuals, the collective donation of up to $80,000 would make a significant statement — a statement that wouldn’t be made by simply returning the money to each student.
Making this donation to Annual Giving is an appropriate choice. This account provides the University with its largest source of unrestricted funding, and administrators rely on Annual Giving to provide resources for newly created programs that initially lack specific funding. Past initiatives include independent-work funding, Frist late meals and computer clusters — all programs that substantially benefit undergraduates.
Another important priority for Annual Giving money is financial aid. Funds from Annual Giving allowed the University to increase its financial aid budget during this academic year in response to students’ changing financial needs, a decision this Board has previously endorsed. All students reap the benefits of a student body hailing from diverse backgrounds.
The annual USG-sponsored concert at Lawnparties is a fun and popular event, but in the face of the worst economic crisis since the 1930s, our priorities must be reevaluated. Under these circumstances, we are willing to place the financial needs of our friends and the other goals of the University ahead of this indulgence.
See the dissent to this editorial here.
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