For the last meeting of the semester, SGA talked with the finance department at Barnard.
Happy Tuesday and happy last meeting of the semester!
Moving right along: The operating budget at Barnard is funded by tuition and fees, which make up 64.5% of the budget; the auxiliary enterprises, which make up 18.1%; endowment spending, which makes up 7.3% of the budget; and other sources. The majority of this budget goes towards salaries and wages, employee benefits, and financial aid. Further, 22.6% of the budget goes towards various programs like the Columbia partnership and the Francine A. LeFrak program.
The SGA Endowment fund was established in 2012 with a contribution of $350,000 from SGA to the College, and it was invested as part of the College’s endowment while other donors added to it. The market value in February 2022 was $516,000, and the annual endowment spending was $20,000+. These funds support small projects or new activities that will enhance student life on campus.
The planning for Altschul started in 2019 with preliminary cost analyses. The time frame is usually 6-7 years earlier, and the actual production lasts two to three years. Kennedy Vo (BC’22) asked how spending per student has increased or changed regarding the larger student population every year. Benedetto discussed resources in First-Year Experience classes and student life resources.
And with that, our meeting came to an end! There is a lot of information regarding Barnard’s budget, so make sure to check out SGA’s resources to learn more about this.
SGA Banner via Ava Morouse