Debt Policy

Performing Arts Groups in Debt

Carryover will be calculated in the April of the preceding academic year. The following policies will be in place for the entire year depending on the carryover figure calculated in April:

Every group in debt will be required to contribute 40% of ticket revenues to reduce the debt

Any debt in excess of $2000 will have to contribute an additional 10% for each additional $500 of debt (round to closest $500 interval) (i.e. 60% for $3000 in debt)

Any debt in excess of $5000 will be subject to the following:
Allocation of space to minimal cost facilities (ex. Houston Hall – Bodek Lounge, Hall of Flags, Auditorium) OR must collaborate with another group
100% of revenues contributed to debt reduction

These policies will be enforced on the honor system; however, 13 groups will be chosen at random for members of SAC Exec and PAC Exec to attend each show and count ticket sales. There will be harsh consequences for groups who fail to adhere to these policies.

***Please be aware that the policies will be in place for an entire year. If a group pays down all its debt in December, they will still have to follow the policy for whatever their debt was in April***

Facilities Cost

All performing arts groups will be required to pay a flat fee of $250, regardless of space allocation, to subsidize facilities costs. The fee will come out of the group’s non-SAC revenues, NOT SAC grant.