The Government of the Student Body will allocate $1.34 million to 178 student organizations and three GSB accounts during the GSB Senate meeting Wednesday evening.

The allocation process has been difficult this year due to a $175,000 budget deficit caused by an over-allocation of fees in the 2003 fiscal year. University officials overestimated student fees assessed to part time and full time students. In addition to repaying the over-allocated $175,000, GSB’s budget must also cut $175,000 from the budget due to decreased funding, said Dan Kline, off-campus senator and finance committee member.

As a means of meeting the deficit, the finance committee has written four bills for senate approval. The first bill will transfer funds from the Student Activity Account into the Regular Allocations Account. If the bill does not pass in senate, the finance committee will be forced to cut student group funding by 10 percent, said David Boike, GSB finance director.

The second bill will transfer the balance of the newly created fall event account into the Regular Allocations Account.

The account was created by President T.J. Schneider and Vice President Joe Darr in the fall of 2002.

The finance committee and senate said the event will continue to exist because the account itself will remain intact. Schneider disagrees.

“There will be no money in the account and the event will be killed,” he said.

Kline said the funding in the Fall Event Account is being cut because it is a luxury.

“Whenever anyone — whether it be a family or a corporation — is having financial problems, the first thing to be cut is luxuries,” he said.

If the senate bill does not pass, the finance committee will cut four percent from every student group, Boike said.

The third part of the plan is to transfer $45,000 from the Special Projects account to the Regular Allocations Account.

The last part required to balance the budget is to take the unspent student organization money transferred back to the Student Activity Fees Account and transfer it to the Regular Allocations Account.

“If the bills fail, there is little recourse but to reconsider regulars and give an across the board cut,” Kline said.

Both Boike and Kline said they are confident the senate will pass the legislation to balance the budget.