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Letter from the Treasurer

This E-Book is intended to simplify a very complicated financial system bestowed upon us by the SUNY Board of Trustees. Most of you have asked at one point or another, “Why does it have to be so complicated?” Well, as some of you know, the University at Buffalo is one of only 2 or 3 privileged universities whose disbursing agent — in our case, Sub-Board I, Inc — is completely student owned and operated. All the other universities across the nation must use their university administrations as disbursing agents, which allots administration a ‘say’ in where and to what their funds are allocated. Here at UB, the only way that the administration can intervene is if the expenditure violates one of the SUNY Board of Trustees’ general guidelines. These incredibly entertaining rules are available upon request. With this privilege comes a great responsibility: As student leaders, it is our duty to see to it that each and every dollar is spent responsibly and accounted for accurately. To answer the question of why our finances are so complicated, it is because the SUNY Trustees, the University and ourselves as student leaders, to a high standard to ensure that all funds are accounted for adequately so as to protect our own interest of maintaining self government. Another common complaint is that, “In the real world I can….” In accordance with the above caption, this is NOT the real world. We are in most part funded from Mandatory Activity Fees ($94.75/semester). In other words, we are very similar to a government agency. We have to follow all of the same state/federal regulations as a city/state organization. If you are familiar with how numerous these regulations are, you are...