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The JMGSA Constitution


 John Molson Graduate Student Association

“JMGSA”

General By-Laws

 

Adopted January 2009

Amended November 2013

 

 

 

 


Section I- Name and Definitions

The name of this association is the “John Molson Graduate Students’ Association”, hereafter the association or by its acronym “JMGSA“.

The JMGSA Executive consists of a President, a Vice-President Communication, a Vice-President Academic, a Vice-President of Events and a Vice-President Admin & Finance.

The Executive Council consists of the JMGSA Executive and a representative from each program across the JMSB Graduate Programs.

 

Section II – Purpose

In accordance with the right given by the Graduate Students’ Association (GSA) to the graduate students of every faculty to form their own association, the graduate students have formed an association whose purpose is to represent the graduate students at the John Molson School of Business (JMSB) in university affairs and activities.

 

The purpose of the JMGSA is:

  1. To act as the official representative organization of all graduate students at the John Molson School of Business in all committees, boards, or constituted bodies.
  2. To promote the academic, cultural, recreational, political, and social interest of the members.  Additionally to support the involvement of its members in community enhancement, thereby improving student experience and increasing school spirit.
  3. To facilitate communication and cooperation among the graduate student associations and representatives in order to strengthen the student community, maximize synergies, and enhance the student experience of all JMGSA members.
  4. To strengthen all facets of the JMSB brand in both business and academic spheres on the local, provincial, national, and global levels.

 

Section III – Membership

  1. Members
  1. Every graduate student registered in the John Molson School of Business is a member of the association.
  2. Every departmental association under the umbrella of the association upon being recognized by the Council becomes a member association.
  1. The Council may grant an honorary membership to recognize the accomplishments of an individual or to build ties with somebody to the benefit of the association.  Two thirds of Council members present at a duly convened meeting must approve the granting of such membership status.  Individuals granted such membership shall have the rights and privileges of members except the right to vote or hold an elected office.
  2. In case of an ambiguity there shall be a presumption of membership in the association. 
  3. A member who stops fulfilling the membership requirements outlined in article 7 shall continue to be deemed a member if the reasons he/she cannot fulfill the criteria are beyond her control and caused by the unilateral actions of a third party.
  4. The JMGSA Executive reserves the right to recommend the expulsion of any members of the JMGSA considered guilty of conduct detrimental to the JMGSA.
  5. Any member may attend and participate in all General Assemblies. This includes voting at meetings and elections.
  6. Any member has the right to examine all financial records of JMGSA and may request and receive a copy of this By-Law and any other JMGSA official documents.
  7. Members have the right to be a candidate and be elected to any office of JMGSA.
  8. Each member has the responsibility to abide by this constitution.
  9. The fee levy of the association is set at $67 per student each year. The current fee levy only be changed by a two-third vote of the Executives and confirmed by a simple majority secret vote in a general meeting of the members with quorum or by referendum of the members.

 

Section IV – JMGSA Executive and Executive Council

  1. The JMGSA executive shall consist of a President, a Vice-President Academic, a Vice-President Communication, a Vice-President Events and a Vice-President Admin & Finance.
  2. These representatives shall be responsible for the development of activities designed to suit the particular needs of students within their program. Funding of these activities shall be provided by the fees collected by the JMGSA from all members. Funds will be allocated on the basis of each program’s proportional share of the JMGSA’s membership.
  3. Any member of the executive or the Council shall disclose all organizations he or she is an executive of.  Should any business with such organization arise the member shall abstain from participating in any discussion and vote on the issue.

 

The JMGSA Executive

  1. The duties of these members include:
  1. The President shall convene and preside at all meetings of the JMGSA, conduct them in good order and enforce provisions of the constitution and by-laws. The President shall be an ex-officio member of all committees, shall exercise general supervision over all committees of the Association and shall represent the members of the Association at all official occasions.
  2. The Vice-President Academic shall represent the members of the JMGSA in matters pertaining to academic procedures and policies in university committees with the faculty. The VP Academic will also attend to members’ concerns about their programs and support in any way possible. The VP Academic will undertake any duties that may be assigned form time to time by the President. The Vice-President shall also perform the duties of the President in his or her absence.
  3. The Vice-President Communication shall carry out duties pertaining to the JMGSA’s internal and external affairs, in particular the organization of the Association’s elections and duties pertaining to institutions, associations and the business community. The Vice-President shall also carry out duties assigned by the President and/or the Executive Council.
  4. The Vice-President Events shall be responsible for organizing and running JMGSA events as well as supporting the events being run by clubs and associations under the JMGSA umbrella. The Vice-President shall also carry out duties assigned by the President.
  5. The Vice-President Admin & Finance shall be custodian of all records and documents belonging to, or dealing with, the affairs of the association. The VP Admin & Finance has the duty to conduct official correspondence and to be responsible for all minutes of all the general meetings of the Association. The Vice-President shall issue notices for all meetings when directed to do so. The Treasurer shall care for all the funds and securities of the association; he or she shall collect all dues, co-sign all cheques, drafts, notes and orders for payment of money and he or she shall pay out and dispense the same. He or she shall coordinate the budget and submit to the President for approval at the beginning and end of the fiscal year. In addition, the Secretary-Treasurer shall carry out such duties as may be assigned from time to time by the President.
  1. In addition to these duties, the university requires JMGSA executives to sit on the following committees at student representatives. Executives will be assigned to committees on an ad-hoc basis (schedule permitting) and will report their discussions to the President following the meetings. The committees (which are subject to change in the coming years) are:

Dean’s Staff Awards Selection Committee: (for a 3 year term if possible)

Dean’s Award for Teaching Excellence: (for a 2 year term if possible)

Advisory Search Committees for Chairs:

Faculty Council Steering Committee:

Faculty Council: (2 JMGSA representatives)

 

The Executive Council

  1. The Executive Council shall consist of members of the five (5) members of the JMGSA Executive as well as one (1) representative appointed from each of the programs:

PhD

MSc

MBA

Graduate Diploma in Business Admin / Graduate Certificate in Business Admin.

Goodman Institute

Diploma in Chartered Accountancy

Graduate Certificate in Management Accounting

If a program does not bring forth a representative, the Executive Council shall convene without representation from this program.

  1. Eligibility for the Executive Council depends on the “good standing” of members within their academic program and with the JMGSA. They must be registered in a degree or diploma program and must not receive their degree or diploma before April 30th of their year in office.
  2. The Council may, from time to time, entrust to and confer upon any one or more of the executives or any standing or special committee or any officer or officers of the association for the time being or any corporation or person or attorney or agent or trustee, either within or without Canada such of the powers exercisable by the Executives as they think fit, including the powers to sub-delegate, for such time and to be exercised for such objects and purposes, and upon such terms and conditions and with such restrictions as they may deem expedient and may from time to time revoke, withdraw, alter or vary all or any of such powers.

 

Section V – Council Meetings

  1. Meetings of the Council shall be chaired by the President. In his or her absence the Vice-President Communications shall act as a chairperson. The role of the JMGSA Executives at this council is to facilitate communication between programs and to promote unity and collaboration among the students.
  2. The Council shall meet at least once each month and then as needed. The President, or any three (3) directors of the association may call a meeting of the Council when needed, no less than one (1) week before meeting date.
  3. All members of the Executive Council shall have one vote at any meeting. Any non-executive member of the JMGSA may attend the meeting in a non-voting capacity.
  4.  Questions arising at any meeting of directors shall be decided by a majority of votes.  In case of an equality of votes, the President shall have a tie breaking vote.
  5. Minutes of the meeting shall be prepared by the VP Admin & Finance and shall be made available to all members of the JMGSA. In case of a conflict of interest, JMGSA members who are also members of other associations may be denied access to all official JMGSA documents, including the minutes.
  6. Quorum for the Executive Council meetings shall consist of 50% of the Executives. No resolutions, motions and/or decisions shall be passed without this quorum being present.

Section VI – Referendum

  1. A referendum shall be scheduled and held upon:
  1. A two-thirds (2/3) majority vote of the Executive Council OR
  2. A petition in written form, signed by ten percent (10%) of the JMGSA and approved by simply majority of the Executive Council. OR
  3. A petition signed by thirty percent (30%) of the JMGSA.
  1. All referenda to be binding on the Executive Council shall be required to have a two-thirds (2/3) majority of the vote cast, with a minimum of ten percent (10%) of JMGSA members having cast their vote.

 

Section VII – General Assembly

  1. At least one annual General Assembly shall be convened and chaired by the President. In his or her absence the Vice-President Communications shall act as a chairperson. The purpose of the General Assembly is to provide a voice for constituents represented by the JMGSA Executive Council.

 

  1. All eligible graduate students in good standing in the programs listed in Section IV Item 20 have one vote at any General Assembly.

 

  1. Questions or referenda arising at any General Assembly shall be decided by simple majority of at least fifty percent (50%) plus one (1) votes. In case of an equality of votes, the President shall have a tie breaking vote.
  2. Quorum for the General Assembly shall consist of thirty (30) JMGSA members.
  1. Minutes of the meeting shall be prepared by the VP Admin & Finance and shall be made available to all members of the JMGSA. In case of a conflict of interest, JMGSA members who are also members of other associations may be denied access to all official JMGSA documents, including the minutes.

35.1        Quorum not reached If a General Assembly can’t be opened because the quorum was not reached, it is to be automatically postponed to the following week. If the new session does not achieve quorum it may be opened by recognizing a moral quorum (35.1.1); in this situation, the General Assembly is legitimate if it deems itself to be so.

 

35.1.1    Moral Quorum
Moral quorum must be decided upon by a unanimous vote that must include at least one non-executive member

 

  1. All members must be notified at least calendar 10 days before the General Assembly.

 

Section VIII – Finance

See Annex B

 


 

 

Section IX – Amendments

  1. This constitution may be amended by a simple majority of at least fifty percent (50%) plus one (1) votes vote of the Executive Council during a special meeting called for the specific purpose of amending the constitution. Quorum for this meeting will be at least two-thirds of the Executive Council. The amendments must be ratified through a General Assembly.

 

37.1       Amendments can be made by JMGSA members at a General Assembly. Any requested amendments must be brought forward at least five (5) days in advance. Any motion to amend the constitution needs to reach two-third (2/3) of the present members to carry.

 

  1. In the event of any conflict between these by-laws and any regulations of the association, these by-laws shall take precedence.
  2. All amendments, regulations, and resolutions, motions or decisions of the association, including, but not limited to those made by the executive, the Board, Special General Meetings or Referendums must be made in conformity with these by-laws.

Section X — Elections, Replacements and Impeachments.

  1.  The members of the JMGSA Executive and Executive Council shall be appointed annually by an election to be held no later than March 31st. An exception is made in the case of any positions open because of a first-year representative desired, executive resignation or constitutional amendments. These positions shall be filled by an election held no later than September 30th. Such elections will be conducted by secret ballot online or physically.
  2. All commerce graduate students have the right to vote for the Executive positions listed in Article 17. For the student representative positions listed in Article 18, students have the right to vote only for candidates that are running as representatives for their respective program.
  3. The election process shall be overseen by a Chief Election Officer (CEO) who is impartial and selected by the JMGSA President. The CEO is in charge of recruiting a team to manage the transition, set the election schedule, campaigning period and provide the allotted amounts for those campaigning for executive positions from the JMGSA budget (to be determined by the President and VP Admin & Finance). The voting will take place over a two day period to allow all full and part time students to participate and will be organized either online or through an in-person ballot overseen by the CEO. The CEO will then tally up the votes and communicate the results to all the students and provide a report of the schedule, campaign process and results to be kept in the JMGSA files.
  4. Candidates shall be given a one (1) week period should be provided to contest the results. The CEO will review the contestation and take action as needed.
  5. The executives are elected for a one (1) year term by majority vote. The elected members of the JMGSA Executive and Executive Council shall take office commencing May 1st. Members who are voted in exceptionally shall take office immediately after their election. These members shall serve until April 30th of the following year.
  6. The Executive Council shall have the right to dismiss or impeach, for a reasonable cause, any member of the Executive Council by a vote of two-thirds (2/3) of the members of the Executive Council. Grounds for impeachment include:
  • Recurring, unwarranted behavior deemed hostile and/or a threat to the welfare of JMGSA member(s);
  • misappropriation of funds,
  • dereliction of duties,
  • violation of these by-laws or of JMGSA Regulations
  1. Should there be only one candidate running for a position, the person will fill the role by default and will receive acclamation for the position.
  2. Should an executive need to be replaced, a bi-election shall be held. This bi-election shalll be announced 10 days in advance of the results. Application process will be for 3 days, Voting for 2 days.

Section XI – Miscellaneous

  1. Contracts, documents or other instruments in writing requiring the execution by the association are signed by the President and the Vice-President Admin & Finance.   All contracts, documents or other instruments in writing so signed shall be binding upon the association without any further authorization or formality.  Notwithstanding this provision, the directors are authorized from time to time, by resolution, to appoint any officer or officers, director or directors, or any other person or persons on behalf of the association either to sign contracts, documents or instruments in writing generally or to sign specific contracts, documents or instruments in writing.
  2. Limitation of Liability.  No executive, officer or employee shall be liable for the acts, receipts, neglects or defaults of any other executive, officer or employee, or for joining in any receipt or other act for conformity, or for any loss, damage or expense happening to the association through the insufficiency or deficiency of title to any property acquired for or on behalf of the association, or for the insufficiency or deficiency of any security in or upon which any of the moneys of the association shall be invested, or for any loss or damage arising from the bankruptcy, insolvency or tortuous acts of any person with whom any of the moneys, securities or effects of the association shall be deposited, or for any loss occasioned by any error in judgment or oversight on such person’s part, or for any other loss, damage or misfortune whatever which shall happen in the execution of the duties of his or her office or employment or in relation thereto, unless the same are occasioned by such person’s own negligence or willful default; provided that nothing herein shall relieve any director, officer or employee from the duty to act in accordance with the Act or from liability for any breach thereof.

 

  1. Indemnification.  The association shall indemnify an executive or officer of the association, a former executive  or officer of the association or a person who acts or acted at the association’s request as an executive or officer of a body corporate of which the association is or was a shareholder (or other type of equity holder) or creditor, and such person’s heirs and legal representatives, against all costs, charges and expenses, including an amount paid to settle an action or satisfy a judgment, reasonably incurred by such person in respect of any civil, criminal or administrative action or proceeding to which such person is made a party by reason of being or having been a director or officer of such association, Company or body corporate, to the full extent permitted by the Act and by law.  The association is authorized to enter into agreements evidencing its indemnity in favor of the foregoing persons to the full extent permitted by law and may purchase and maintain insurance against the risk of its liability to indemnify pursuant to this provision.

 

 

  1. The association shall maintain at its head office during normal business hours files or books indicating the following:

a)      These by-laws, amendments to it and all regulations enacted or repealed.

b)      The names, addresses and contact information of the Executives and the dates upon which they become and cease to be such.

c)       Minutes of all the meetings of the Board, as approved by the Council and signed by the President and the vice-president internal affairs.

d)      Detail as to the receipts and disbursements of the association and the matters to which each of them relates, as well as details of its financial transactions and its credits and liabilities.

 

  1. The Head Office of the association will be in the city of Montreal, Province of Quebec. The association may in addition to the foregoing establish other offices elsewhere as the directors may, from time to time, determine.

 

 

ANNEX B

(”the JMGSA FINANCIAL POLICY”)

TO THE GENERAL BY-LAWS OF

John Molson Graduate Students’ Association.

Amended Feb 1st, 2013

 

PART 1

BUDGETARY CONSIDERATIONS

Section 1 – JMGSA’s Fiscal Year

JMGSA’s fiscal year will begin on May 1st and end on April 31st of each year.

Section 2 – Preparation of the Budget

It shall be the duty of the VP Finance of the JMGSA to prepare the JMGSA’s annual overall budget, as well as the more detailed the JMGSA operations budget, and together they shall constitute the JMGSA budget.

This budget must be approved by the JMGSA Executive. Any revisions to the budget are also subject to the approval of the JMGSA Executive.

If the JMGSA has bad debt carrying over from the previous year, this sum shall be subtracted from JMGSA’s total funds prior to calculating how much funding shall be allocated to each budget line.

Section 3 – Orientation and Rollover Funds

It is the obligation of the VP Finance to ensure that twenty (20) percent of the overall the JMGSA budget is held for the purpose of ensuring funds for the orientation costs and start up costs of the following year.

Section 4 – the JMGSA Operating Costs

  For the purpose of ensuring the ability of the JMGSA to run properly, fifteen (15) percent of the JMGSA overall budget shall be allocated to the JMGSA operating costs. These funds may be used for, but are not limited to, legal fees, office supplies, and insurance costs.

The executive committee as a whole may allocate an amount of the operating costs budget line to the oversight committees as they see fit.

The JMGSA budget, through its acceptance by the JMGSA Council, empowers JMGSA’s VP Finance and signing officers to make payments for all items included in the budget.

The VP Finance and signing officers are authorized to make payments for items not contained in the budget without approval from the Executive Council, but only for items totaling no more than $500, up to a total of no more than $3000 per semester. These expenses may include, but are not limited to, office supplies, food expenses, travel costs and legal fees.

Items greater than $500 that are not contained in the JMGSA budget require the approval of the Executive Committee.

An internal expense requisition form will be filed for all administrative expenses.

 

Section 5 – Budgetary Transparency

Council may, by a two thirds (2/3) majority vote, annul or modify honorariums to executive committee members, council chair or council secretary for (1) recurring, unwarranted behaviour deemed hostile and or a threat to the welfare of the JMGSA members, (2) any violations of the Quebec Charter of Human Rights and Freedoms on Concordia University grounds, (3) misappropriation of funds, (4) dereliction of duties.

The VP Finance has the authority to approve or deny insufficient receipts.

Expenses must be filed within 30 days of the date on the receipt or no later than May 15th, whichever comes first.

Contestations of refused cheques must be filed with the VP Finance by May 25th of the fiscal year.

JMGSA’s VP Finance shall provide a written summary of expenditures and revenues to the JMGSA Council at the last Council meeting of each semester, special meetings excluded.

The following awards will be given out to a JMSB Graduate student in April of each year:

Award for Outstanding Contribution to the Concordia Community

                See JMGSA Award.doc à convert from PDF

Section 7 – Fee Levies

This financial policy will be revised by FinCom and ratified by the JMGSA Council at the first Council meeting immediately following any changes to JMGSA’s fee levy, such as an increase as a result of a referendum.

This meeting may occur no later than one (1) month following the change in fee levy.

PART 2

THE CONTROL OF CASH FLOW

The JMGSA will possess one chequing account with a major banking institution, as well as one internal account within the university, and a petty cash fund. The petty cash fund will not exceed $200 dollars. A petty cash disbursement sheet will be completed for each usage of the petty cash fund.

Additional accounts and funds may be created with the approval of the JMGSA Council.

 Written receipts for all cash amounts received shall be provided to the VP Finance who shall keep a copy of such original receipts in her records. Such original receipts must be pre-numbered and all original receipts must be kept, including those that are accidentally spoiled. All cash amounts received are to be deposited in one of JMGSA’s accounts by the VP Finance without delay.

The VP Finance shall not provide any sort of cash disbursement without a receipt or invoice or other documents by the payee attesting to the amount of the disbursement.

PART 3

THE MEMBER ASSOCIATIONS

Section 7 – Funding Application Requirements

The following sections of policy shall apply to those the JMGSA groups that receive a budget from the JMGSA.

No the JMGSA member association may receive a budget unless they have completed the official the JMGSA registration process including the electoral processes and by-law requirements stipulated in Section VIII of the by-laws.

Any association wishing to receive funding from the JMGSA not appearing on the list of member associations approved by the previous the JMGSA Council must submit a request to the current the JMGSA Council to be added to the list of official the JMGSA member associations.

A two thirds (2/3) majority vote by Council is required to be recognized as an the JMGSA member association.

Section 8 – Budgetary Allocation Towards Member Associations

For every member association registered with the JMGSA by the September meeting, three and a half (3.5) percent of the overall the JMGSA budget shall be allocated to the member association budget line up to a maximum of forty three and a half (43.5) percent. So that the overall amount allocated to member associations is proportional to the number of member associations that register.

These funds shall then be distributed among the member associations at the FinCom’s discretion.

Should the total funds allocated to the member association budgets be less than this forty three and a half (43.5) percent, the remainder will be allocated to the special projects funds for member associations.

Each member association of the JMGSA will automatically be allocated a budget of $500 upon official registration with the JMGSA. This will facilitate activities that take place before the JMGSA Council approves a yearly budget for each member association. All financial obligations still apply.

All member associations will submit a yearly budget no later than five (5) juridical days after the September regularly scheduled Council meeting.

The initial $500 will be expanded as approved by the FinCom and the JMGSA Council. The reimbursement plan will be followed as specified in section nine (9) of this document. Budgets that are submitted later than five (5) juridical days after the September meeting will receive secondary consideration.

Budgets that are submitted later than five (5) juridical days after the September meeting will receive secondary consideration.

Approved budgets will be returned to member associations no later than the October meeting of the JMGSA Council provided the electoral processes and by-law requirements of Annex C have been met.

All printing must be done at the JMGSA Office. Any external printing must be done with the approval of the JMGSA VP Finance.

Member Associations may transfer funds within the same budget line at their own discretion, but must seek the approval from the Financial Committee to transfer funds from one budget line to another.

         There shall be $500 of funding set a side each year for the up keep of the student lounge.

Section 9 – Reimbursement

JMGSA’s office manager shall serve as financial comptroller for all of the member associations.

Upon presentation of original receipts, the financial comptroller shall prepare a cheque to reimburse the expenses and submit this cheque to the signing authorities: JMGSA’s President and VP Finance. Member association will fill out a cheque requisition form.

                a. The JMGSA will not reimburse the purchase of bottled water unless under extenuating     circumstances where potable water was not available.

Cheques for associations will be written, signed and made available in the JMGSA office no later than five (5) juridical days after deposit of a receipt by a member association.

 Member associations may request advanced funding for budget items in excess of $300 provided these expenses were included in their approved budget. Associations seeking an advance payment must submit a budget for the expense and fill out an Advance Payment Requisition Form.

 Advance payment cheques shall be written only to executives appointed by their member associations as signatories for their member associations.

Advance payment cheques shall be written, signed and made available in the JMGSA office no later than ten (10) juridical days after the advance payment request.

Member associations must present original receipts to justify expenses made with advance payment funds. Failure to do so will result in freezing of their budget.

The President and VP Finance may refuse to reimburse or provide advance payment for items not included in their approved budget.

All refusals by the President and VP Finance must be ratified by a simple majority at the next the JMGSA council meeting.

Section 10 – Member Association Audits

Each member association must submit to a full financial audit by the FinCom.

Audits will be performed during the two weeks prior to the last day of classes for each semester.

Each member association must provide the VP Finance of the JMGSA its updated accounting records and all other relevant documents needed for the VP Finance to perform a financial audit of each member association.

Member associations who do not submit an audit within the allotted time will have their accounts frozen until the audit takes place.

 If the FinCom suspects that fraudulent activity is taking place within a member association, the JMGSA signing authorities reserve the right to freeze their account to conduct a financial investigation, for a maximum of two (2) weeks, unless definitive proof is found that fraudulent activity has taken place.

The VP Finance shall notify council of any freezing of accounts.

Section 11 – Member Associations Special Projects Fund

Funding will be granted if the project is deemed to directly benefit John Molson Graduate Student Association students. Precedence will be given to projects that take place on campus. All Special Project Funding Application projects must be financially completed and accounted for before May 31st of each year.

Each year a special projects fund totalling two and a half (2.5) percent of the JMGSA budget will be allocated to member associations who apply for funding for special projects relevant to the John Molson School of Business faculty or their specific department.

It is the duty of the Financial Committee to review all applications for special project funding received from Member Associations within ten (10) juridical days after being received.

Any funds left in the pool at the end of the financial year will remain the property of the JMGSA and will be redirected into the into the rollover budget for the next executive committee.

FinCom shall be granted the authority to investigate any suspicious usage of special projects funding allocations and shall be required to submit a report to council upon completion of the investigation.

Section 12- Member Associations and Council Responsibility

 

 In the event that a Member Association does not have a Councillor present for two (2) scheduled regular meetings of Council, that Member Association shall suffer a frozen budget.

 

The Financial Committee must decide upon a financial penalty of between five (5) percent and ten (10) of the original approved annual budget of said Member Association. This amount will be at the discretion of the Financial Committee. It will be up to the VP Finance to decide where this money is taken from within the said budget.

The budget will only be unfrozen upon the meeting of the Financial Committee. The Financial Committee is obligated to meet within ten (10) days of a budget being frozen, and must reach a decision in regards to a penalty within that time.

Section 13- Member Association Fiscal Management

Member Association revenues must be declared and handed into the JMGSA. The VP Finance must transfer the declared revenues into the appropriate budget line for said Member Association.

 All the JMGSA Member Association related finances must be handled in accordance with the JMGSA financial policy.

Member Associations may hold a bank account that is linked to the JMGSA’s main bank account.

Section 14- Fiscal Transparency

The JMGSA needs to publish its financial reports at the end of each term in first class.

          

PART 4

THE OVERSIGHT COMMITTEES

The oversight committees shall receive fourteen (14) percent of JMGSA’s overall budget.

 Of this fourteen (14) percent, three and a half (3.5) percent of JMGSA’s overall budget shall be allocated to FinCom as a special projects fund for students at large. These projects should benefit the John Molson School of Business as a whole.

 JMGSA’s executive committee shall divide the remaining ten and half (10.5) percent of the budget between the oversight committees. Each oversight committee shall prepare a budget proposal to be approved by the executive committee.

PART 5

REVENUES

Revenues acquired by the JMGSA above the amount acquired by student fees shall be deposited into the JMGSA bank account by any signing authority once a month.

 These revenues shall be considered additional funds to be added to JMGSA’s operating costs.

These funds may be transferred to oversight committee budgets if the executive committee sees fit.

Revenues are not, under any circumstances, to be spent before deposited into the JMGSA external account

 

 

 

 

 

 

 

 

John Molson Graduate Student Association By-Laws
Annex B (“the JMGSA Financial Policy”)

 

 

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