The referendum proposes increasing the student activity fee to $19.50 for all students per semester, up from $11.50 for undergraduates and $9.50 for graduate students.
Finance Committee Chairwoman Natalie Russell said that the referendum was part of a special election last year but that there were not enough total ballots cast to pass the measure.
"The majority of students who voted last year were in favor of it," she said. "I expect that trend to carry over into February's election."
But Student Body Treasurer Michael Vollmer said a surplus in Student Congress' funding makes the referendum unnecessary.
A financial report from Vollmer shows that Student Congress so far has spent $6,500.99 of the $28,765.50 available for the fall semester. It also shows a general surplus of close to $30,000 that has yet to be allocated.
"We shouldn't be asking students to pay more when we can't fully and efficiently utilize our funds."
Ethics Committee Chairman Dan Herman said that when Student Congress declined to fill student groups' requests last year because of insufficient funding, the money accumulated and thus created the surplus.
Herman said the time has come for the fee to increase. "It is lamentable that the fee is so low and hasn't been increased for the past 20 years," he said. "The purchasing power of students has decreased while the number of students has increased."
But increasing the fee undermines students' credibility with the UNC-system Board of Governors when students lobby against tuition increases, Vollmer said.