With the 9th edition of Kurukshetra just around the corner, we bring you an exclusive interview with the Student Directors of the Finance Team. Despite their busy schedules Dhivya and Indrapradap obliged by giving us an insight into the functioning of the Finance team.
Guindy Times: What is the role of the Finance team?
Finance Team: We interact with the 17 other teams of Kurukshetra on a regular basis and budget the funds to be allocated to each team. The budget is formulated based on the need of each team and the funds received from sponsors. Another important responsibility of the Finance team is to act as an interface between the sponsors and teams. We tally expenses, process bills, manage the budget, and audit all the financial transactions. Apart from this we also play a key role in the approval of the Memorandum of Understanding (MoU). We are always in constant touch with the other teams advising them on the financial aspects of organising the event. Basically we manage the entire expenses of Kurukshetra from planning to execution.
GT: How is the work distributed among the team?
FT: Our team consists of three 3rd year and six 2nd year students. The 2nd year students report to the 3rd year students, and they report to us. Like most teams we don’t have first year students working for us. We handle communication between various teams of Kurukshetra and allocate the funds; the 3rd year students keep records of all transaction, maintain bills and are assisted by the 2nd year students in their duties. We run a tight ship and the financial details of Kurukshetra aren’t even known to the juniors in our team.
GT: What is the role of the Finance team during Kurukshetra?
FT: On the day of the event, we manage the on-spot registrations for events, take care of prize money distribution and handle various other transactions at the Hospitality desk. We also support the workshop team with registrations.
GT: How do you recruit juniors into the Finance team?
FT: Unlike the other teams of Kurukshetra, the Finance team doesn’t have an open call. Juniors can approach their immediate seniors in the Finance team to enquire about an opening. We look for mainly two qualities in the juniors - trustworthiness and sincerity. We evaluate them by giving them a set of tasks to accomplish. Being a part of the Finance team is a task of great responsibility, so we believe in recruiting right.
GT: How integral is the role of the Finance team in the functioning of Kurukshetra?
FT: The Finance team ensures the optimum spending of funds for all the teams. We scope out the economic feasibility of various ideas on discussion with the respective Student Directors. Apart from this we decide the prize money for various events along with the Events team. This is a key aspect, as the prize money draws a larger audience, ultimately contributing to the overall success of the event.
GT: How do you handle tight spots?
FT: We have a ‘buffer’ to handle situations like this. Every year if we make profits we add it to the existing ‘buffer’, which can be used if the workshops don’t generate sufficient revenue or due to recession or in case we have shortage of sponsors.