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Salient: Victoria University Students' Paper. Vol. 27, No. 13. 1964.

Cosec Finances

Cosec Finances

After a very shaky period two years ago the finances of the co-ordinating secretariat of the International Student Conference (Cosec) are now on a solid footing.

In a special interview, Gwyn Morgan the Associate Secretary for Finance and Martin Diamond, the Cosec Accountant, said that Cosec funds now came from a variety of sources. Contributions from National Unions were still a very large item, 120,000 Dutch Florins (about £12,000) in 1963-64. These were levied on member unions in accordance with the number of members.

However, some of the less well off unions were exempted from part of their contribution by the supervision committee. Outside donations came mainly from foundations and industrial donors, but also from international agencies, private donors and a variety of other sources.

An important difference between the types of finance was that the donations from foundations were for specified purposes whereas the contributions from National Unions were used to pay for other ISC projects for which foundation funds were not available. Unions which had not paid their contributions did not get travel grants and had outstanding debts deducted from any payments made to them.

Asked whether the use of foundation funds could lead to outside control of the ISC, Gwyn Morgan said no. The tenth International Student Conference had resolved that outside funds could only be accepted if they did not comprise in any way the policies and resolutions of the conference. While the outside donors usually specified that their donations could only be used for certain purposes, the variety of sources of funds meant that if one donor refused funds for a particular project it was often possible to obtain funds for the same project from another source.