Update on The Lafayette’s financial situation

By The Lafayette Staff

The newspaper and Lafayette College Student Government have reached an agreement that assures the short-term finances  of the state’s oldest college newspaper.

The paper will be able to print through the end of the semester under a revised funding resolution approved by student government last week. The new resolution allocates $3,491 to The Lafayette at the end of the year. It also removes the “educational’ aspect of the previous motion, mandated by student government last month that only provided matching funds to new advertising revenue generated by the newspaper.

In addition, Dean of Students Paul McLoughlin II pledged the college will purchase $5,400 in advertising to cover the remainder of operating costs for The Lafayette to continue printing through the end of the semester. McLoughlin is advisor to student government and mediated between the two organizations during funding talks.

The extra funds from the college allow the newspaper to form a new business arm to better track finances and increase revenue. The  business model was not mandated by student government — which had questioned past spending at the newspaper. It was instead initiated by the staff based on similar practices at other Patriot League campus newspapers, said Lafayette Managing Editor Aaron Levenson.

“We’re glad we found a resolution to our funding problems this semester,” said Levenson.

“The true challenge lies in the coming year,” added Levenson, referring to the next round of student government allocations for 2015-16, which will begin in the coming weeks.