Scholarships and Grants up by 13%
Scholarships and grants have been increased by 13% with the new figure amounting to $2.95 million for the academic year 2018-2019.
The Vice President of Finance, Shenell Whitely made this disclosure at the United Student Movement (USM) annual budget presentation held at the Northern Caribbean University`s (NCU) Gymnatorium on Thursday, October, 11.
During the budget presentation, Whitely mentioned that there has been a 20% increase in both meal and book vouchers. “This is a result of the 5% increase in club fees from $10.75 million of last year to $11.3 million this year.” She added that new allocations have been added to the budget with The Nutrition and Dietetics Association receiving $150 thousand for the first time. Additional allocations were put to the purchasing of new equipment for the USM totaling, $300.
“The income is generated by 2500 registered students who pay a sum of $2,260.00 for their club fee each semester… The balance brought forward from the previous regime amounted to $3,834,953.42 which gives a total income of $15,13,953.42,” Whitely highlighted.
The expenditure includes the USM grant and assistant program which has been allocated 1.5 million dollars, the disbursement to clubs and societies amounted to $2.12 million, the USM departmental allocations have been given a sum of $5.238 million and the USM general assistance program has been given $2.45 million. Therefore, the total expenditure amounts to $12.758 million which is a slight increase from last year.
The United Student Movement budget presentation is done at the beginning of the fall academic semester of each year, to give students an idea of the financial standing of the student government, with details of its allotments, plans, and projections. This event follows the inauguration of the new regime headed by President Onekya Nevins.