The $40,000 of forgotten funds which sat untapped in Undergraduate Council accounts for years will lie dormant a little while longer.

Last night the council abandoned an attempt to bring the Dave Matthews Band to campus and formed an ad hoc committee to consider how to spend the money.

The council also allocated funds for tailgate and victory parties during the weekend of the Harvard-Yale football game and voted to investigate the College's Administrative Board.

At the last council meeting of the fall semester, the new ad hoc committee will make a recommendation on how to utilize the recently found funds.

"The executive board came to a unanimous consensus that we were doing things too quickly," said Council President Beth A. Stewart '00.

The $40,000 consists of roll-over from previous council's term-bill revenues, which have been stored in the council's University account for years.

Campus Life Committee (CLC) Co-Chair Ryan E. Dorris '00 said the council decided not to pursue bringing Dave Matthews Band to campus because the event proved impossible to coordinate.

Dorris, who engineered the council's pursuit of Dave Matthews, said he had hoped to bring the band to the 3,900-seat Wang Center in downtown Boston since the biggest on campus venue, Sanders Theatre, holds only 1,100 students.

But the Dave Matthews Band will not be in the area on the dates when the Wang Center is available, and Sanders would not hold enough students to justify bringing the band, Dorris said.

Even if the Wang Center could have been used, Dorris said the cost of the event would have been prohibitively high.

In order to be competitive with other schools' bids, the council's offer would have needed to be between $50,000 and $75,000. Additional costs including renting the Wang Center would have totalled over $10,000.

Dorris said the council would have had tocharge $20 or more per ticket in order to make itsmoney back.

He added that he did not believe enoughstudents would be willing to fork over the ticketprice to make the event fiscally successful.

In addition, Dorris said spending more than$50,000 for the band would deplete the CLC's fundsmaking it difficult to fund events like thefirst-year formal.

Last year, the council allocated $20,000 tobring Sister Hazel to Springfest, but anothercollege outbid Harvard, posting an offer thecouncil could not match.

After considering proposals to rescheduleSpringfest, the council decided to feature onlystudent bands at the event.