Difference between revisions of "Mandate:EUSF/EUGE Fee Solution"
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| − | |completed1=Met with Nilou, Marc and Scheffel. Discussed next steps, | + | |completed1=Met with Nilou, Marc and Scheffel. Discussed next steps, which were to obtain historical data of how much funds were used every year |
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|completed4=Obtained 2018 EUSF Account Data | |completed4=Obtained 2018 EUSF Account Data | ||
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| − | |takeaway5= | + | |takeaway5= EUSF will be reworked so that funds are shown directly to departments chairs during yearly budget creation period. This will hopefully ensure full utilization of funds. |
| − | |completed5= | + | |completed5= Created new detailed process of how EUSF allocations are done. |
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Latest revision as of 17:41, 19 April 2019
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| About | |
|---|---|
| Board Member | Ameer Nizami |
| Support | March Chelala,BoG Member at Large, Kareem Halabi |
| Start Date | 2018/07/28 |
| Expected Completion Date | 2019-05-01 |
| Category | Finance |
Explore the possibilities of splitting the EUSF, decreasing or getting rid of the fee. Decreasing or removing the fee would only be feasible if an endowment fund were created to replace the yearly funding. Hence, exploring the possibility of setting up an endowment fund with the excess accumulated funds is also to be assessed.
Context
There has been a large accumulation of EUSF and EUGE funds over the years, the EUSF was meant as an emergency fund. It is not the most transparent fund when students wonder where their funds go.
Goals
Initial Deliverables
Goals first set when the mandate was created
Find a superior solution to simply using the EUSF to funding academic initiative and thus accumulating a surplus every year that is not properly being put to use.
Timeline
| Timeline | Date Completed |
|---|---|
| ' | Met with Nilou, Marc and Scheffel. Discussed next steps, which were to obtain historical data of how much funds were used every year |