Follow up to "Statement Regarding March 17th, 2019 Students' Union Council Meeting"
The Students’ Union Representative Council (known as Council) passed a motion 11-0-0 for the use of up to $30,000 from the StFX Students’ Union’s (the Union) Special Project Endowment Fund (endowment fund) with StFX University (the university) for a review of all the Union’s governance documents. The Union’s governance documents include but are not limited to: the Act of Incorporation (1972), Constitution, By-Laws, and Policy Manual.
In accordance with its terms of reference, the endowment fund was created in 2006 to provide revenue for Council initiatives that may arise from time to time, which would be outside the normal operations of the Union. Disposable monies from the endowment fund are produced from the interest on the original endowment. The monies being accessed from the endowment are not part of the Union’s Annual Budget and therefore will not impact the quality of services provided to students in 2019-2020.
The monies from the fund are being used to align the Union’s governance documents. The monies allocated for the review will cover the cost of bylaw/policy experts and legal council to ensure that this process is comprehensive and follows regulations and procedures in accordance with the Nova Scotia Legislature.
Council agreed to allocate $30,000 to the governance document review based on the cost estimates provided through the Union’s legal council. Any monies from the original $30,000 that are not used during the governance document review will be returned to the endowment.
StFX Students’ Union President