The UCLA Communications Board unanimously passed a financial agreement with Associated Students UCLA after adjusting some of the document’s wording at its meeting on Tuesday.
According to the revised agreement, ASUCLA will extend a $200,000 line of credit to the Communications Board that is will pay back monthly. The Communications Board will need to obtain written consent from the ASUCLA board of directors and its own board if it needs to pay for any expenses greater than $15,000.
The agreement also states that if the Communications Board fails to pay back a monthly installment on time, ASUCLA will give the board 15 days to draft a proposal to remedy the late payment.
If the Communications Board does not propose a remedy within that time, both boards will hold a joint meeting to explore possible solutions. But, if they can’t reach a mutually agreeable solution within 30 days, ASUCLA will not allow any more advances on the line of credit until a course of action is decided.
Under the revised agreement, representatives from the Communications Board Finance Committee and representatives from the ASUCLA Finance Committee will meet each month to discuss the Communications Board’s goals, programs and progress.
Compiled by Yael Levin, Bruin senior staff.