As the former adviser, if I may advise a bit, you may consider budgeting things out and deciding which tournaments you will send people to, and then consider having the stipend depend on how much they will receive from the tournament, if any, and the distance traveled. It's much cheaper to go to a tournament in Missouri than it is in say, Texas or Alabama, just because of fuel costs. Don't spend all of the money as you'll still need some for up front costs of random things, but no need to save everything for a rainy day either. That's what future fund raisers are for.
Which brings another idea... fund raisers. There are a lot of things you can do for fund raisers. It can be as easy as selling POGO cards or chocolate bars, or having a garage sale or car wash. I know a lot of you guys work, and you have classes during the school year (which may include summer), but working a few hours to help out the team is well worth it. If you do a car wash, make sure you have some of your female friends/family members help out by holding car wash signs!
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