FINANCIAL ASSIATANCE COMMITTEE Seeing the trend in the finances of different fests, and the diminishing value o f it,

we propose a Financial Assistance committee , an independent body directly under Dean , Student Welfare Department whose sole responsibility will be to pr ovide assiatance in terms of finances to organisers of different fests so that t hey do not run into losses and burn holes in the pockets of BITSians. In lines to follow, We will try and explain to you why such a body is needed and how this will help in upliftment of the brand value of BITS- Pilani as a whole. Need for such a body: 1. There has been an increase in number of Fests in recent years. Different spon sorship teams work for different fests and are completely unwaware of the workin g of one another. This, more often than not results in different teams reaching the same companies more than once thus projecting a poor picture of BITS-Pilani. This is the last thing that an Institution of this reputation wants. By forming FAC , it will not only ensure non repetition but also provide a better alterna tive of approach to different teams. This committee will have the database of different companies which it will filt er out and hand over to the sponsorship teams which will greatly improve the pr obability of getting sponsorships. 2. Different Sponsorship departments work only for a particular fests. This grea tly hampers the communication between them and the companies and the exchange of infirmation that should be there is left wanting for. This Committee , due to i ts perennial nature will ensure that communication link is active throughout hen ce it will increase the chances of being Sponsored. 3. Better communication between different companies will not only ensure better probability of getting sponsorship , it may also help BITSians by providing them an opportunity in terms of Employment. 4. By providing a wider base , it will ensure better dissemination of funds to d ifferent fests so that they do not run into losses and brand of BITS-Pilani is e nhanced to a great extent. Functions: The purposes of the FAC are: (i) To promote monetary cooperation through a permanent institution which provid es the machinery for consultation and collaboration on monetary problems. (ii) To facilitate the expansion and balanced growth of sponsorship avenues, and to contribute thereby to the promotion and maintenance of high levels of real i ncome and to the development of the productive resources of all sponsorship depa rtments. (iii) To promote exchange stability, to maintain orderly exchange arrangements a mong departments, and to avoid competitive exchange depreciation. (iv) To give confidence to Departments by making the general resources of the Fu nd temporarily available to them under adequate safeguards, thus providing them with opportunity to correct maladjustments in their balance of sponsorships with out resorting to measures such as charging students. (vi) In accordance with the above, to shorten the duration and lessen the degree of disequilibrium in the balances of other departments. The FAC shall be guided in all its policies and decisions by the purposes set fo rth in this Article.