Good Accounting

Smith said he has taken a number of steps to make sure that this kind of bad accounting does not happen again in the future.

First, all of the council's finances have been computerized so that council members can know exactly how much money they have at any given time.

"It sounds like common sense to do it that way, but we've only been doing it since Brian Blais took over last semester," Smith said. "We can see what we've spent on everything with a click of a button. That was impossible before because we had no records."

Second, any check over a small amount requires two signatures, from either the council's president, vice-president or treasurer.

"It's very hard to abuse funds that way," Smith commented.

Third, contracts for expenditures must be signed by the treasurer, not the person in charge of the event.

"That makes sure the system is absolutely tight," Smith said. "There aren't any loose ends."

These changes will bring the council into a new era of fiscal responsibility, Smith said.

"I hate to be the bearer of bad news all the time, but I'd rather do that than let the council go bankrupt," Smith said. "I'm trying to give a correct impression so we know how much money we have and how much we are spending. I want to start a tradition of fiscal certainty."

A number of options are open to the council to increase funding for the future, Smith said.

Some council members have started thinking about running fund raisers to increase council income.

Other council members are calling for another referendum to increase the council's term bill fee from $20 to $30 or $40 per year.

Another option being explored is to set aside money each year to create a "slush fund" so that the council can back large events like concerts until it collects ticket revenue.

According to Smith, all of these options are a long way off, but will eventually be possible due to better accountability of funds.

According to council president Robert M. Hyman '98-'97, the lack of funds this winter will not keep the council from working to increase its relevance to students.

Grants to student groups will be unaffected by the shortage of funds, Hyman said. As well, the council can concentrate on ways to affect student life that don't cost money.

"All of the work we do with the administration on issues that matter to students is generally not costly," Hyman said. "I think we can definitely be relevant without having as much money as in the past."

Hyman said he is concerned with the situation, but feels it will not be crippling to the council. "It's disturbing to say the least, but this council has proven itself in so many ways already," Hyman said. "This is another obstacle, but it is one we will be able to overcome.