UW Mathematics Society

Capital Improvements Fund

  1. Purpose

    The purpose of the Capital Improvements Fund (hereafter referred to as the Fund) shall be to fund lasting capital improvements to student space in the Math Faculty.

  2. Composition

    The Capital Improvements Fund Committee (the Committee) shall be formed each Winter term, composed of:

    1. the President, who will act as Chair and only vote to break ties.
    2. the Vice President, Activities and Services.
    3. the Vice President, Finances.
    4. three voting members of Council, as appointed by Council.
  3. Fund
    1. The Fund will be composed of two parts:
      1. the principle portion, which:
        1. will be administered by the Vice President, Finances
        2. will be invested in an interest-bearing vehicle
        3. is not available to be spent
      2. the current portion, which:
        1. will be composed of the student fee contributions and interest on the principle portion from the preceding Spring and Fall terms as well as the current Winter term.
        2. is the amount that may be allocated to expenditures.
    2. Each term, sixteen percent (16%) of the student fee for each fee paying member of the Society shall be allocated to the Fund, seventy-five percent of which shall be allocated to the current portion of the Fund and twenty-five percent to the principle portion of the fund.
    3. Donations to the Fund may be dedicated to either the current or principle portion of the Fund, in any combination, at the discretion of the donor.
    4. Any amount of the current portion that is unallocated at the beginning of the Spring term will be transferred to the principle portion of the Fund
    5. Funds that remain unspent one year after they have been allocated become unavailable and are transferred to the principle portion.
    6. Fifty percent of actual surpluses in the Central Budget each term will be allocated to the principle portion of the fund.
  4. Priority of Funding
    1. At the discretion of the committee, proposals shall be given priority in the following decreasing order:
      1. improvements to Society offices, Lounges and the Math Coffee and Donut Shop.
      2. improvements to the offices of recognised Clubs
      3. improvements to the offices of affiliates including mathNEWS, Math Graduating Committee, and Math Orientation Committee.
      4. other projects that the committee feels fulfill the purpose of the Fund
  5. Procedure
    1. Appropriate application forms shall be made available no later than the end of January. The deadline for submission of proposals to the President shall be the later of the end of January or 10 business days after applications were made available.
    2. The President shall assemble and distribute a package of the submissions to the Committee.
    3. The Committee will hold meetings in two parts:
      1. Entertain presentations for each proposal.
      2. Allocate some or all of the available funds in a report to Council.
    4. The report of the Committee is subject to ratification but not modification by Council. In the event that Council does not ratify the report of the Committee, the committee may reconvene in order to produce a new report.