EXPENDITURE + REVENUE
The simple formula written above is as simple as ABC, with expenditure telling us how money would be spent and REVENUE tells us how much we are to expect or generate from every means legally possible. It’s quite unfortunate that the current leadership of the FUNAAB student’s union failed in their efforts to present a complete budget whilst presenting an over bloated expenditure chart.
May I state clearly that the STUDENTS UNION would be expected to generate between 6-7million naira as revenue from the collection of dues from its members but a budget of an excess of 18 million naira was presented for ratification.
Now please don’t get me wrong at this point because personally, I love the programs and events lined up for funaabites coupled with the projected A-list artists that the union would love funaabites to see in the school but it’s just sense knowledge that one must cut its coat according to its size.
And when the budget was presented to the SRA arm of government, it was cut down back to fit the expected IGR from dues collection and lots of the cool programs were either awarded grants or were cancelled out rightly because the union can’t afford it. A grant is a certain amount of money allotted for an event, to be used by the organizing committee to plan the event and the grant mustn’t be touched by the person executing an event if he or she knows that the program won’t be feasible. In any case, I personally like this style, provided an effective audit committee and not public figure heads would carry out their duties when the time is right.
That’s how sports director added funaab Olympics to his own plan ooh. This one was very funny for me. The difference between what he wrote in his own part of the expenditure chart and intercollegiate competition is simply no difference. In other words, NA SCAM…lol. He messed himself up when he wrote for the purchase of equipment and sports accessories that the school’s sports center has already. To show that he didn’t carry out his research properly, he wants to buy CHESS, MONOPOLY AND SCRABBLE for N6000. Offside flag N8,000 and corner flag N10,000 as if they want to collect the one from Russia. Well, I am a chess player and 1 good chess board costs just N3500…lol. Thank god for the good men and women in the SRA arm of government who scrapped it sharp sharp.
PRO said he wants to build a website for N60,000 plus a camera(CANNON) for N100,000. It looked like a noble idea but the SRA members didn’t buy into that at all. SCRAPPED.
SOCIAL DIRECTOR brought a new innovation, requesting for a sum of N925,000 for FUNAABSU ULTIMATE SEARCH. This one is like saying PERU would win world cup… it was SCRAPPED my people.
Lastly, PRESIDENT AND VICE PRESIDENT would have a lot to do as they have great and life changing initiatives that I believe can stand the test of time. But it’s important that misappropriation of funds must be avoided especially during the union week and the production of souvenirs through the office of the welfare director.
Meanwhile, the leadership of the SRA should address the issue of the expenditure chart by asking the executives to show them ways the union would be generating revenue and we can start to have a running system that can become a strong government in years to come.
Source: Ofubu Lucas Lugiboss Zeus for Fonny Clown Media