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Show Me the Money!

Aug 18 2008 22:09
ICU?s finance woes deepen after the lack of any budget raises serious questions about College?s ability to effectively run the Union?s finances.
Former DPFS, Chris Larvin, trying to remember if he wrote a budget...

Concerns have once again been raised about the management of ICU?s financial affairs after the new financial year begins with no sign of a budget. Despite College now running the Union?s finance office, this is the first time that ICU has failed to produce and approve a budget before the start of the financial year raising serious questions about College?s ability to run the Union?s finances.

Approval of the Union budget is a complicated matter with the Union?s constitution requiring the budget to be approved by the Union Honorary Senior Treasurer and the Finance Regulations requiring the new budget to be proposed by the Executive Committee by the end of the Summer Term. It is later approved by the Trustee Board after ratification by the Council.

However, no budget for this year has been prepared meaning that the Union has started the new financial year and is spending money without approval. The lack of budget could cause serious problems for the Union with the monies set aside for clubs not having been approved and so all club budgets potentially in doubt.

Questions need to be raised as to why no budget was prepared and why the lack of budget was not noticed earlier. The President is responsible for the finances of the Union with the DPFS having day to day responsibility. Last year?s DPFS Chris Larvin and President Stephen Brown should have ensured a budget had been prepared and should have reported any difficulties to Council. Despite this, the last Council and Trustee Board meetings passed with no difficulties highlighted. Mr. Larvin admitted to breaking the Finance Regulations in an earlier discussion on Live! along with hinting at the failure to prepare a budget.

ICU President Jenny Morgan and DPFS Christian Carter are understood to be extremely concerned about the lack of an approved budget and it is believed that strenuous efforts are being made by the new team to ensure a budget is prepared and submitted for approval as soon as possible. It is concerning, however, that the Trustee Board, who are supposed to oversee the actions of the Union, failed to question why they have not seen or been asked to approve a ratified budget.

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Discussion about “Show Me the Money!”

The comments below are unmoderated submissions by Live! readers. The Editor accepts no liability for their content, nor for any offence caused by them. Any complaints should be directed to the Editor.
Aug 18 2008 22:43


Aug 19 2008 09:23

revenge article

Aug 19 2008 09:58

Is anyone else getting sick of Jon Matthews and his hacky finance articles. The new editor only prints them cos she fancies him.

4. Hmmmm   
Aug 19 2008 10:02


Aug 19 2008 14:19

Why are people on live so cruel! It's all so mean.



6. Hmm.   
Aug 19 2008 15:31

Because they think it's clever and it makes them feel important.

Aug 19 2008 16:11

And they don't seem to be adjusting well to a new editor, despite the content being pretty much the same as it would have been under the old one.

Aug 19 2008 18:30

It's always Imperial student on Imperial student. Or in this case Hack on Hack. Why? Whats the point? Surely we can have a conversation to resolve these issues.



9. at Q   
Aug 19 2008 18:33

Live articles like this don't resolve issues, they actually make things harder for the people who are working their ass off to sort them out. Stop inflating your egos Editor and Hacks alike and let people do their job in peace. Print an article that someone actually cares about.

Aug 19 2008 20:13

I'm campaigning for an end to all the fighting.



Aug 19 2008 21:25

Ah yes, the best way to sort out the issues is to keep quiet about them and assume that the people responsible for them will stay on top of the problem.

Was the lack of a budget reported to anyone in a meeting? Where are the minutes? 300 clubs spending money with effectively no control? Best not publicise to the students that their union is running with insufficient financial planning and oversight!

The people who dislike articles which expose failings are:

  • the people responsible for the failings
  • people who think that the best way to run a smooth organisation is to make sure no-one knows what is happening (even the people who OWN the organisation - the students)
  • people who are responsible for cleaning up the mess, but for some reason like not to accept that fact

Articles like this would help to resolve issues, if the people involved just went "yes, this was a bit of a problem, but there's no budget because of X, Y and Z. You can help us work through this by doing A, B and C. We hope to have it resolved by D."

But that would involve actually communicating with stakeholders.

The lack of a budget only really becomes a problem when we still don't have one in October, but where's the pressure to actually to get it sorted? Personally, I welcome anything which applies pressure on the people who are supposed to make this organisation work, when there are failings to be resolved.

The current DPFS may be a bit more sensitive to criticism than the old one of course, but he is surrounded by girls which must be intimidating for him. Perhaps he should follow last year's sabb rule of 'don't post on Live!'. It does make me poke around the web server logs to see where this new criticism has come from...

Aug 19 2008 22:26

I couldn't give a monkeys Ashley. I just think fighting is bad.



Aug 19 2008 23:15

If you think that you know about something that Live! readers care more about then please send it to me and I'll print it. News is slow and I imagine you'd all be annoyed if I published nothing.

In the meantime this seems to be getting you all worked up sufficiently. If you simply keep coming back to bitch at me, or whichever other poor soul is the fashionable target, then I'm just happy to provide that entertainment value.

Aug 20 2008 01:50

Give em hell Kirsty!

Aug 20 2008 02:09

Everybody lets sing together - **Make Love NOT War**



16. bad!   
Aug 20 2008 08:12

"I just think fighting is bad."

Then you might be reading the wrong website.


Have a Holiday

Leave the Union alone for a bit

Let the Sabbs get on with their jobs

Don't write anything

(we don't expect you to-it is the summer!)

Just relax

Aug 20 2008 15:14

Personally, I think the newly incumbent DPFS needs to:

a) grow a thicker skin and stop whining through his sockpuppets, because Live is going to call him out if any cr*p happens (and damned right too)

b) actually do his job and get the budget completed!

Aug 20 2008 19:27

kirsty, you're doing a great job so far, just keep it up

Aug 20 2008 22:42

To the person with the really long name:

If you check out the What is Live! tab on the black bar above you will read:

"It is the only regularly updated online news source at Imperial and also the only one to continue reporting over the summer."

I'm not about to change that as the twenty odd people who are still on here at 10:30pm would soon get very bored and perhaps not come back again. As it happens you are not going to hear from me for a few days anyway. And besides, Ashley would never just let me 'relax'. ;o)

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