Student Government

Financial Information

 

 

Student Goverment College Agreements

Some important financial dates to keep in mind:

The College AGREEMENT is made as of the 1st  day of September each year and expires on the last day of the Representative’s term in April following.

• The Representative agrees to forward the financial statements of the Cabinet for review by the University Financial Services Department on or prior to August 31st in each calendar year failing which the University shall be entitled to withhold the payment of Cabinet fees.  The statements shall be calculated on an academic year basis, May 1st to April 30th. 

• Upon review of the Cabinet’s financial statements of the previous academic year, to distribute 75% of the collected fees by October 15th of each academic year to the financial representatives of the Cabinet.  The fee total is to be determined using the enrolment figures as of October 1st and will include students who enrolled in January and May. The fees will be accompanied by a report of  college student enrolment;

• Any outstanding moneys owed to a university department by the Cabinet as of October 15th will be deducted from the 75% distribution;

• On November 1st, a final registration count will be determined.  Final calculations of the remaining fees to be distributed to the financial representatives on behalf of the Cabinet will be completed by January 31st along with an updated College student enrolment.

• In the event that the University has failed to make a payment of student fees otherwise required to be made pursuant to revisions herein, then the University shall pay interest on such arrears at the rate of Royal Bank of Canada prime rate of interest plus 1% per annum on all such arrears until paid. The fees must be paid by October 31st .