The Student Finance Committee Restructures Finance

 George Robinson ’15, Staff Writer

          Hampden-Sydney College has had a finance system in place for clubs for some time. As clubs would develop and grow, the finance board would monitor accounts and allocate funds on a yearly basis. This year’s financial board has made some changes that have allowed clubs to manage funds even more effectively than before and improve relations between the clubs and the board.

The changes are many in number, but they are neither expansive nor radical. For instance, one of the new changes that the Finance Board has implemented is requiring each club to collect mandatory dues of no less than five dollars per member. One might think that most clubs would have mandatory dues already, so this comes as no real shock. Another change that has been made is that each club has been assigned a Student Finance Board advisor. This advisor is simply one of the five members of the board who will seek to help improve relations between the board and the club, and allows each club to have an advocate for audits. A third change is that money is now given to clubs through a dual allocation system. The allocations are now split into two parts: once the first half is spent, the second half will be given to the club. This measure will ensure the regulation of spending from club to club. This system will ensure that no clubs have debt at the end of the year, and while this has happened before, it hasn’t been as common as one would like.

There are other new elements to be seen from the new Finance Board. One of these is the new Banner Project. The Banner Project will see clubs taking the H-SC banner to their respective trips and events, and this will help promote the club and the college simultaneously. When this happens, pictures of the different occurences of the project will be displayed on the school’s website. Another new element is that the club information sheet has been moved from the school’s server to Google Docs. This change will make it easier for the board to service clubs more quickly when they need funds. All these new aspects of the system have guided the finance board back on track, and relationships between clubs and the board have never been better because there is now a greater understanding between all the parties involved.

Secretary Treasurer Damien Sharp says, “I’m proud of the changes implemented by the Finance Board as I believe they will help better serve the clubs and improve the relationship between clubs and the Finance Board.”

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