40K comes from unapproved RESET blanket tax funds
The Student Association Senate introduced Resolution #7 at its meeting last Wednesday regarding the distribution of $40,540.92 in unused blanket tax assets.
The SA originally collected the funds to establish the Rice Endowment for Sustainable Energy Technology, but the student body did not re-approve the endowment in the 2013 general elections. The SA decided on the final recipients of funding after a deliberative process throughout the fall. In addition to the four campus organizations receiving money, the SA also chose to establish a new Student Initiative Fund for future student events.
The SA treasurer will review the use of all the distributed funds to ensure compliance with proposals made by each organization. Any unused money will be returned to the SA after two years.
The final proposal will be voted on at Senate on Jan 28.
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