On June 24, the CDAA voted unanimously to approve $15,000 in order to assist with The Cavalier Daily‘s operating debts and expenses. Provisions of this funding allocation also will establish a new financial oversight committee tasked with:
- evaluating the newspaper’s business model and accounting practices (including its print schedule, recurring costs, etc.)
- suggesting potential alternative revenue streams
- assessing the feasibility of a capital campaign to provide the paper with a lower-cost facility or help with other long-term financial needs
- ensuring that all CDAA funding is spent according to these goals
The full proposal is available for review.
The committee will include the five student members of the paper’s managing board and eight volunteer alumni advisers. It will provide monthly assessments based on reviews of the paper’s financial documents.
Those interested in applying to be on the financial oversight committee, please send an email to firstname.lastname@example.org outlining your interest and qualifications by no later than Saturday, July 19. At that time, the CDAA will review the applicant pool and respond accordingly. Weight will be given to applicants based on the following criteria:
- graduate of U.Va.
- some level of experience working in media industry or business/financial sector
- demonstrates commitment to the committee and its goals, as well as enough time and effort to devote to being an active participant
- demonstrates investment in The Cavalier Daily and familiarity with its recent history/struggles
Professional Financial Review
Another provision of the funding allocation will be that The Cavalier Daily undergo a professional financial review by January 2015. While this is not expected to be done on a volunteer basis, a priority of the paper’s is still to keep costs at a bare minimum.
Anybody within our alumni network who can make a referral or offer such services at a free, reduced or minimal cost, please contact CDAA Networking Coordinator Ben Sellers at email@example.com. Include, if possible, a quote estimate of the time and cost of the services.