A Bylaw Respecting Operational Dedicated Fee Units
- Any amendments to this Bylaw must be reported to each Operational Dedicated Fee Unit.
- All definitions in Section 2 of the Bylaw Respecting Dedicated Fee Units shall read into Section 2 of this bylaw.
- “Operational Dedicated Fee Unit” shall refer to a Dedicated Fee Unit that does not use one hundred percent of its monies for granting purposes.
- “Society” shall refer to a registered society under the Alberta Societies Act.
- The following entities are eligible to initiate a referendum as per Bylaw 6100 to become an Operational Dedicated Fee Unit:
- Registered student groups;
- Students’ Union services and operations; and
- Registered Societies.
- After becoming an Operational Dedicated Fee Unit, the group is required to transition to a Society within a year of the successful referendum in order to receive its funds.
- Groups will receive their funding their first year regardless of their status as a Society.
- An organization may only receive one Dedicated Fee Unit under this bylaw.
- All Operational Dedicated Fee Units shall provide an annual report of their finances to the Finance Committee within six months of the end of their fiscal year.
- This report shall include:
- A budget illustrating how funds received from the Students’ Union reserve will be spent during the coming year;
- Its audited financial statements from the previous fiscal year;
- Evidence of compliance with all contracts with the Students’ Union;
- Evidence that they are fulfilling their mandate as described under this bylaw; and
- Such other information as may be required by the Finance Committee to determine whether it is fulfilling its mandate under this bylaw.
- Budgeted Fee Unit funds not spent in their entirety shall remain available in future year(s) for related purchases as originally deemed.
- Reserve funds carried over shall be accurately and openly presented on the audited financial statements.
- Operational Dedicated Fee Units must have their yearly audited financial statements, and board meeting minutes posted publicly online
- The mandate of an Operational Dedicated Fee Unit will contain at minimum:
- The name of the society as registered under the Alberta Societies Act;
- A description of the primary operations and aims of the group;
- The purposes and/or projects that the money will fund; and
- Any restrictions or rules that apply to the use of that funding.
- Operational Dedicated Fee Unit mandates shall be reviewed by the Students’ Union Vice-President Operations and Finance, or the Finance Committee as needed.
- Mandates may only be amended by:
- a joint resolution of Students’ Council and one other body, specified in the schedule; or
- Mandates shall be included in the Schedule for Dedicated Fee Units.