The Importance of Student Union Budgeting

student union budgetingEvery year institutions of higher education must assess their past year expenditures in order to plan for the upcoming year. Universities and colleges across the country have experienced economic recessions, changes in student financial aid and record enrollment numbers. Assessing finances and budgeting for the upcoming year plays an even bigger role now. Many universities divide their expenditures into four categories: instruction, academic support, student services and institutional support. Student services’ primary purpose is to contribute to students’ emotional and physical well-being, this includes the student union. As funds are designated to other activities student union budgeting relies on proper data to justify their share. “Good assessment also requires investing in data systems or processes that allow for data to be organized, retrieved and analyzed.” stated The Bulletin: Black & Red. Installing SenSource People Counting Sensors and Vea Analytics into student unions allows them to collect student traffic data and analyze this data to show the need for future updates or expansions. Traffic data can illustrate to budgeting managers where the busiest and slowest areas of the student union may be. This data tells student unions if they need to restructure or reroute traffic, restaurants, meeting rooms and offices. Understanding student traffic flow allows activities to be organized in the most convenient spaces, reaching the maximum number of people. As stated in The Bulletin: Black & Red, “Prepared with this background information, union and activities budget managers can more successfully vie for funding if they know and inform decision-makers, explore alternative revenue sources, and assess their programs and services.” The team at SenSource can assist your student union budgeting committee in assessing your specific needs. There are a variety of solutions available to work with your student unions’ specific situation. Contact our sales team today to begin processing your student union traffic data.

Learn how other student union’s updated their facilities with people counting sensors in these other articles:

Selecting a People Counting System for Your Student Union 5 Simple Steps in Selecting the Perfect People Counting System for Your Student Union Rhatigan Student Center Uncovering Traffic Trends

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