Recycled Promises, Unanswered Questions: Will This MoF Election Change Anything? Money Matters: Part 2

Sri City: The race for the Ministry of Finance (MOF) has brought forth the two remaining candidates—Adya (SIASUG24-28) and Rishi (SIASUG24-28)—both of whom emphasized financial transparency, efficiency, and student engagement in their manifestos. With finance being a crucial aspect of student governance, their approaches to budgeting, reimbursements, and financial literacy were put to the test during their speeches.

Adya’s Vision: Fintech Fixes and Fiscal Oversight

Adya suggests implementing Expensify, a financial management app, to streamline club budgeting and expense tracking. However, when asked by Leher about the security of student financial data when using an external platform.

"Expensify is just a suggestion, but I also plan to collaborate with the Cyber Club to explore the possibility of them creating a replica of the website... privacy also wouldn’t be a problem." (Adya, Speech Transcript)

She proposes an alternative in-house solution if data security remains a concern, mitigating risks associated with external software. This adaptability strengthens her proposal, demonstrating awareness of cybersecurity risks while maintaining the goal of improving financial tracking.

However, developing a custom-built tool may require technical resources and time that could delay implementation. While Expensify could improve financial management, its feasibility depends on balancing convenience with data security, can the autonomy given to an MoF really encompass that? 

Additionally, Adya’s broader approach to financial management includes plans to establish an interdepartmental committee to oversee financial decisions, ensuring that fund allocation is subject to cross-checks from multiple student representatives. While the effectiveness of such a committee would depend on its ability to influence administrative decisions, it signals a commitment to structured oversight beyond digital solutions.

Her financial literacy initiatives focus on collaboration with external experts and creative engagement methods, such as a "finance escape room" event, aiming to make financial learning interactive and practical. Her approach highlights a reliance on external partnerships to build financial knowledge, complementing her broader strategy of leveraging technology and institutional oversight to improve student finance.

Rishi’s Vision: Financial Transparency- A Right or a Challenge?

Rishi particularly frames transparency as a core issue, citing frustrations with the lack of clarity on fund allocation, especially during past incidents like the food crisis. However, when asked by Leher about the constitutional provision (Section 2.1.1) that already grants students access to financial information, he was questioned on how he would overcome administrative resistance to sharing this data.

"The only way we can, again, I think one of the other candidates said it's not possible to get 100% transparency. And maybe it's not, but I'm sure we can get rough estimates at least for key things such as the food data." (Rishi, Debate Transcript)

While he acknowledges the constitutional right, he points out that this provision mainly applies to student-led finances rather than administrative spending. He argues for obtaining approximate figures in key areas rather than full transparency, seeing this as a more realistic goal.

His stance accepts the limitations of full disclosure but still seeks incremental progress. However, his response leaves open the question of whether the administration will even provide "rough estimates" given past refusals. Without a concrete strategy to push for more accountability, his claim risks being more aspirational than actionable.

Rishi also proposes revamping the reimbursement system through an online portal, arguing that the current email-based system is inefficient and burdensome for both students and OSL (Office of Student Life). He outlines his vision for an automated system where requests are neatly flagged and organized to reduce administrative delays. The portal would serve as a streamlined alternative to email-based submissions, reducing oversight issues and speeding up the process. But we must note that the creation such a portal is already in the pipeline for Krea. 

This plan offers a tangible solution to an issue that has long plagued student organizations. By leveraging existing infrastructure, Rishi presents a feasible and immediate fix. However, questions remain about whether OSL will prioritize activating the system (which has been a concern for a while) and whether bureaucratic hurdles could still slow implementation.

He argues that Krea should allocate more funds for student participation in intercollegiate events, as they enhance the university’s reputation and provide valuable exposure. However, he was asked how he would prioritize which events receive funding and where this money would come from. If sponsors is the answer, how would MoF have a role in this, won’t this fall under the respective club/department’s purview?  Rishi proposes a merit-based selection system to determine which students represent Krea for external events, ensuring funds are allocated to the most competitive candidates.

Comparing Visions for the MOF

With the MOF elections bringing finance to the forefront of student concerns, both Adya and Rishi have presented compelling but distinct approaches.

Their candidacies join the broader discussions from the previous article, where other ministerial hopefuls addressed similar themes of governance, student welfare, and accountability. As Krea students head to the polls, they must decide which vision—internal reforms or external partnerships—best aligns with their needs for a financially efficient and transparent campus.

The stakes are high, and with finance underpinning nearly every aspect of student life, the next MOF will play a crucial role in shaping the university’s financial future as it faces the challenge of bridging promises with action. Will they succeed where their predecessors fell short due to lack of autonomy?

Written by - Sahana Rao