VUWSA down and out on $1.3 million

student-choice

Fri Nov 04 2005 13:00:00 GMT+1300 (New Zealand Daylight Time)

VUWSA down and out on $1.3 million

Friday, 4 November 2005, 3:23 pm
Press Release: Student Choice

VUWSA down and out on $1.3 million
3 November 2005

Despite putting out the begging bowl to cover costs of its recent Salient legal action, Victoria University Students Association (VUWSA) is a very wealthy incorporated society which this year took over $1.3 million in compulsory fees from Victoria University students, Student Choice said today.

In 2006 VUWSA will receive another $1.3m in compulsory levies from Victoria students. Every Victoria student must pay money to the association before they can study.

VUWSA's latest accounts (2004) show the association had a surplus of $296,171, assets of $808,975, and equity of $665,300. In 2004 VUWSA had nett fee income of $1,279,603.

Student Choice spokesman Glenn Peoples said VUWSA's strong financial position means it doesn't need donations. "The association could easily apply for a short term loan based on its equity or the guaranteed $1.3m it will receive early next year," he said.

Peoples said it was ironic that VUWSA was appealing for voluntary donations. If VUWSA is confident it provides students with value for money, it could extend its new-found donation principle and ask individual students if they would voluntarily pay the VUWSA levy.

Student Choice supports voluntary membership of student associations on the grounds of freedom of association.

ENDS

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