5:14 PM, March 25 2014
AUS Office
Dear Fellow Arts Students,
Congratulations to our newly elected VP Finance, Kateryn Kim! The two of us have been working together to make sure that next year goes as great as possible. Kateryn has a lot of good ideas for the portfolio and I know she will do a rock solid job.
Tomorrow night is AUS Council, and I am backing two substantial motions:
- Motion to Purchase a Non-Redeemable GIC: This motion calls for the purchase of a $165,000 three year term GIC with an interest rate of 1.75%, to be compounded annually and paid at maturity. The idea here is to make a stable investment with a sure (but minimal gain), which will allow for the AUS to manage its surplus in a responsible way. We are keeping enough money liquid just in case we need to spend for an emergency or want to fund a large project. The motion is here: Motion to purchase non redeemable GIC
- Motion to Adopt Ethical Purchasing Policy: This motion calls for the adoption of a policy which sets standards for ethical business practices undertaken by the AUS and the suppliers with which it does business. This policy was drafted by the Ad-hoc Ethical Purchasing Policy Committee, created for this purpose in the Fall 2013 semester. The motion is here: Motion to Adopt Ethical Purchasing Policy
Things are going strong in the VP Finance portfolio. Stay tuned for updates regarding the end of our fiscal year, reports on expenditures for the current school year, and some reflections on my year as VP Finance.
Wishing you all the best,
Sam.
