Difference between revisions of "Student Space Fund"
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Revision as of 12:51, 10 October 2018
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| Logo created by Gordon Hart | |
| Contact: |
Ryan Reszetnik, VP Finance Andrew Xie, Funds Director |
|---|---|
| Amount | |
| Short Term | ~$9,000/semester |
| Long Term | ~$36,000/semester |
The Student Space Fund (SSF) is a fund composed of fees (out-able) paid by engineering undergraduate students. It is meant to be a sustainable resource for general improvements of the undergraduate space at McGill as well as to fund larger renovations projects.
The fund is separate in two accounts: the Short Term and Long Term (Capital) accounts. The Short Term account, available once a semester, is intended for purchase of single items (< $2000) and the Long Term account, available all year 'round, is aimed at significant projects and renovations (> 5000$).
Allocation
Short Term
The Short Term account is allocated twice a year through an application process sent out by the Funds Director, usually around October for the Fall Semester and February for the Winter Semester. Anyone in engineering can apply.
Long Term
The Long Term (capital) account is available at any point in the year. It is approved through any regular meeting of the Board of Governors, and must be submitted 5 days prior to their meeting. SSF Long-term is far larger than the short term.
Composition
Each semester, students contribute $15.00 (full-time students, >9 credits) and $7.50 (part-time students, =< 9 credits) to the Student Space Fund. From the total contributions per semester,
- 20% goes to the Short Term account
- 80% goes to the Long Term account
At the end of the Fall semester, if a surplus exists in the Short Term account, it is rolled over to the Winter’s Short Term account; if a surplus exists in the Winter, it is transferred to the Long Term account.