Finance and the environment are two very different issues, but the Associated Students Legislative Council managed to cover both during its Wednesday meeting.
Investments Advisory Chair Todd Roberson gave a report on Leg Council finances before the council moved on to pass a resolution opposing the Goleta Beach seawall.
A.S. invests in mutual funds to supplement its student funding. Due in part to the United States’ stock market woes, this supplemental income has steadily become less and less reliable. The projected investment returns on interest and dividends for this year dropped about $90,000 from last year’s returns, to about $11,000, Executive Director Don Daves-Rougeaux said in the closing remarks of the meeting.
The returns are expected to fall even more for next year to $4,000, Daves-Rougeaux said.
“Our losses have been less than the average [of] the Dow Jones Industrial Average], but we are still losing money, and that’s not good,” Roberson said.
Aside from continued financial woes, A.S. Leg Council passed a position paper against the creation of a seawall at Goleta Beach and other locations in the county.
“The students of UCSB support environmentally sound approaches to coastal erosion that balance natural resources and recreation,” the resolution stated.
The resolution also called for the removal of the temporary rock revetment at Goleta Beach.
In other news, Chancellor Henry Yang replied to A.S. Leg Council’s resolution on West Campus bike path maintenance, thanking them for sending him a copy of the resolution.
“This is remarkable because he’s never replied [to our resolutions] before,” Recording Secretary Elisa Iovine said.