UG SRC unveils budget for first semester of 2023/2024 academic year

The Students’ Representative Council (SRC) of the University of Ghana, Legon (UG) has unveiled its budget for the first semester of the 2023/2024 academic year.

This budget outlines the estimated revenue and expenditure of the SRC giving students and stakeholders a clear picture of how funds will be allocated and utilized during this period. With a focus on transparency and accountability, the SRC aims to ensure that the student body’s needs and interests are effectively represented and addressed.

The estimated revenue for the semester consists of cash at the bank, SRC dues, and sponsorships, summing up to a total of GH¢472,724.17. This financial foundation provides the SRC with the means to implement various student-focused programs and activities.

The SRC has allocated funds to several key areas to ensure the welfare and development of the student body. The Committees and Boards category has been allocated GH¢16,805.00 facilitating the efficient functioning of committees responsible for addressing specific student concerns and needs.

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Meetings, an integral part of SRC operations, have been allocated GH¢ 36,675.00. These funds will be utilized to organize regular meetings where student representatives can deliberate on matters of importance and make informed decisions on behalf of their peers.

To support the administrative functions essential to SRC operations, GH¢66,481.00 has been allocated for General and Administrative Expenses, ensuring smooth day-to-day operations and effective coordination of student initiatives.

Recognizing the significance of autonomous bodies within the university community, the SRC has allocated GH¢9,050.00 to support the activities of these bodies and promote their contributions to student life.

Welfare initiatives, a priority for the SRC, have been allocated GH¢5,500.00. These funds will be utilized to address student welfare concerns and provide support systems to enhance the well-being of the student community.

Projects and Programs, with an allocation of GH¢185,915.00, will enable the SRC to implement various initiatives aimed at improving the academic, social, and cultural experiences of students on campus. These projects will foster personal growth and create a vibrant campus environment.

Transfers to Other Campuses, with an allocation of GH¢128,000.00, will allow the SRC to extend its support and resources to affiliated campuses, promoting collaboration and unity among students across different locations.

To cater to vacation expenses, GH¢9,751.00 has been allocated, ensuring that necessary arrangements are made to address the needs of students during holiday periods.

External Affairs and Miscellaneous expenses have been allocated GH¢4,660.00 and GH¢5,000.00, respectively, to cover activities and unforeseen costs that may arise during the semester.

Taking all the expenditures into account, the total estimated expenditure for the semester amounts to GH¢467,837.00.

The budget reveals a surplus of GH¢4,887.17, indicating prudent financial planning and management by the SRC. This surplus can be utilized to address unforeseen circumstances or to support additional initiatives that arise during the semester.

SOURCE: Coverghana.com.gh