Finance Committee is one of the busier Senate committees, meeting at least once a week along with longer meetings during the budget approval process. It is headed by the Student Senate treasurer, with its other members being chosen from the current senators.
As stated above, Finance Committee discusses club budget proposals and works with clubs to make sure their budgets fall within the Budget Guidelines (most of the time). Senate is allocated a certain percentage of the Student Activity fee to budget to clubs, and Finance Committee tries to distribute those funds equitably, looking at past usage of funds along with the clubs' future goals. The 2004-2005 Finance Committee allocated $82,661 (out of about $90,000 granted by Tom Axtell) for club use during the '05 - '06 school year, with the remainder going to special projects or saved for Additional Funds Requests.
Finance Committee has suffered on several occasions from a lack of "institutional memory"; although the Budget Guidelines are written down, each incarnation of the committee has varied in their interpretations of the guidelines, and many rules are adopted for special occasions and then forgotten shortly thereafter. Though this allows flexibility, it also invites confusion and some very angry club presidents.