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ENGINEERING UNDERGRADUATE SOCIETY OF MCGILL UNIVERSITY GUARDIANSHIP Policy Adopted 07/2017
Article 1: Definitions
- 1.1 The Engineering Undergraduate Society of McGill University (hereafter referred to as “EUS”) is the registered name of the non-for-profit corporation representing the engineering and architecture undergraduate students at McGill University
- 1.2 The Board of Governors of the EUS is the administrative board of the Engineering Undergraduate Society of McGill University which is composed of Administrators as defined by the EUS Constitution
- 1.3 The EUS shall recognise all Departmental Societies, Clubs, and Design Teams set forth in the relevant articles of the EUS Constitution as EUS Groups.
Article 2: Purpose/Mission
- 2.1 The Guardianship Policy shall lay out the details and procedures surrounding the verification of the finances of EUS Groups that have shown poor maintenance of their finances
Article 3: Procedures
- 3.1 The Guardianship shall be led by the Finance Director of the EUS, and shall be referred as the Internal Auditor
- 3.2 The Guardianship shall last until the end of the current fiscal year, unless shortened by a vote from the Board of Governors
- 3.3 The Guardianship entails the following points, but is not limited to:
- 3.3.1 Full verification of all the expenditures made by the EUS Group
- 3.3.2 Necessary approval of the Internal Auditor for any expenditure made by the EUS Group.
- 3.3.3 Limitation of the exposure taken by the EUS Group for large scale events.
- 3.4 EUS Groups may still apply for any funding without restrictions.
Article 4: Amendments
- 4.1 Amendments to this policy must be approved by a simple majority vote of the Board of Governors of the EUS
Article 5: Interpretation
- 5.1 In the case of a conflict between this policy and the following documents, the following documents prevail in the order they are listed in:
- 5.1.1 The Quebec Companies Act
- 5.1.2 The EUS Letters Patent
- 5.1.3 The EUS Constitution
- 5.1.4 The EUS Financial Bylaws