The Missouri Students Association Senate approved its budget for the 2011-2012 fiscal year Wednesday night. The total revenue is $1,554,613, according to the budget.

“Its a substantial amount of money and a huge responsibility,” MSA Vice President Emily Moon said.

Moon said while making the budget, the most important thing she considered was making sure she put money into areas that would best benefit the students.

“We represent the student body, and it’s our job to advocate for the students,” Moon said. “The budget is basically a 45-page paper advocating activities, events and issues that students care about.”

Concerts have always been popular in the past, and that is where more money went, Moon said.

“I looked at who was benefiting from the money, and if it was the students, that is where the money went,” she said.

The MSA Budget Committee has been looking through the most up-to-date versions of the budget as it was being made, Budget Committee Chairman Clark Maynard said.

“We’ve been looking for formatting errors and questioning line item values and allocations,” Maynard said.

An error in the proposed budget was discovered Wednesday morning before the final document was presented to Senate that night. Approximately $45,0000 was allocated to fund an unannounced Homecoming concert. But, the funds had previously been allocated to events this year including Maya Angelou’s visit, STRIPES expansion and the Global Sounds Music Festival.

“A couple of transactions didn’t process last semester and just went through now,” Moon said. “It’s not something to be concerned about, it just requires a small budget adjustment.”

The C&R account’s balance is difficult to determine since multiple transactions don’t process until weeks or months later, Moon said.

“We don’t know how much will be in the contingency and reserve account until the end of the fiscal year, which is at the end of June,” Senate Speaker Jake Sloan said.

According to the Student Government Budget Schedule, the next step in finalizing the budget is for Moon and Maynard to give the budget adjustments to Business and Fiscal Operations Manager Cathy Hurst for her to look over. After Hurst approves it, the budget will go to Student Life Director Mark Lucas. The Committee on Student Organizations, Government and Activities will see the budget next, and it will finally end with Vice Chancellor for Student Affairs Cathy Scroggs.

SOGA has the responsibility to make recommendations concerning recognition and activities of student government associations, fraternities, sororities and cooperatives to the Vice Chancellor for Student Affairs, according to the Faculty Handbook.

Moon said she is not concerned about the possibility of making drastic changes to the budget.

“If they have comments about the budget, it comes back to Cathy Hurst and I,” Moon said. “At this point, the budget has been looked over with a fine tooth comb, so I don’t anticipate any major revisions. There is always room for improvement, though, and if there are any flaws I’d be glad to address them.”

The budget will be submitted to Scroggs for review and approval April 29.