Glasgow University Charity Fashion Show (GUCFS) is said to have paid an events management company almost £11,000 to create the show.
However, organisers donated £3,200 to the Beatson Pebble Appeal following the event, The Glasgow Guardian said.
Those organising the show also received £8,000 from the Lord Chancellor’s fund, which supports student led ventures.
Blake Sinclair, who was the founding president of the GUCFS from March 2014 to March 2015, and who remains honorary president of the society which runs the show, told The Glasgow Guardian the event had been a “resounding success” and that a “highly appreciated” donation had been made.
“Speaking on behalf of last year’s committee, it can be said that all members found it a highly worthwhile experience. Every member of the team contributed to bringing something new to Glasgow University,“ he said.
Mr Sinclair added: “In a time where many start-ups and charities struggle to make a profit, not only did GUCFS make a highly appreciated donation to the Beatson Pebble Appeal; we created an event and society that has a long-term donation potential.
“Personally, I am incredibly proud of the amount of hard work that the committee put into GUCFS last year.”
Mr Sinclair declined to comment further when approached by The Scotsman.
The Glasgow Guardian said the quote provided by the events company which hosted the event included £300 for the hire of two MacBooks for a day, £800 for crew and £1,271 for project management.
The newspaper also claimed that GUCFS spent £500 on hiring a projector, despite the venue – Hunter Halls – already containing a similar piece of high end kit.
A University of Glasgow spokesperson said: “In November 2014, the Chancellor’s Fund Advisory Board approved a grant of £8,000 to the Glasgow University Charity Fashion Show. The grant was provided to support the creation of a new student society to run an annual fundraising fashion show and other events, giving the students the chance to develop key life and business skills. No funding was provided from the University’s budget.