Definitions

1. In this regulation, unless the context otherwise requires:

• “SUO Legacy Fund” means a fund established by the Students’ Union to support active member initiatives;
• “Member” means any student who is a member in good standing of the Students’ Union Okanagan of UBC;
• “Travel expenses” mean any and all travel associated costs, including but not limited to transportation, transportation fees and taxes, accommodation, and meals.

Purpose of Fund

The SUO Legacy Fund shall be administered by the Executive Committee in accordance with the following provisions:

• The purpose of this Fund shall be to provide funding to Active Members of the Society for:
  • Projects that benefit the University community;
  • Projects that benefit the local community;
  • Philanthropic activities, and projects;
  • Conferences that benefit the University community and local community;
  • Other projects deemed worthy by the Executive Committee.
  • Preference shall be given to projects on or near campus which affect local communities as opposed to more distant projects.

Access to Funds

• Only individual active members of the Society or informal groups of such members shall be eligible to receive monies from this Fund.
• Neither the Society’s Subsidiary Organizations nor its Student Resource Groups shall receive monies from this Fund.
• Neither registered Clubs nor Course Unions shall receive monies from this Fund.
• An individual or group wishing to receive monies from this Fund shall submit an application to the Vice-President Finance, who shall present the applications to the Executive Committee for discussion and decision.
• Individuals working together on a project should form themselves into an informal group and submit one joint application for the project rather than submitting individual applications.

Exclusions and Limitations
 

SUO Legacy Funds shall not be used for:

• Business or entrepreneurial ventures of any kind;
• Standard educational fees such as tuition, books, or supplies;
• Purchases of alcohol or other controlled substances;
• Purchases of capital assets
• The maximum amount of a grant from this Fund shall not exceed $2,000
• Maximum amounts that will be granted for any travel costs will be:
  • $50 for regional travel (within the Southern Interior of BC);
  • $150 for travel within the province of British Columbia;
  • $300 for travel within Canada;
  • $500 for travel outside of Canada.
• No more than one grant shall be made to any applicant in any one fiscal year. An individual who is part of a group receiving a grant shall not be eligible for a separate grant as an individual in that same fiscal year.
• Grants from the Fund shall cover no more than seventy-five percent (75%) of the total cost of the project.
• If a project is approved, money for the project shall be paid to the applicant only after the project is completed and a list of expenses has been submitted to the Vice-President Finance for verification.
• In certain circumstances, funds may be paid to the applicant in advance of project completion should the applicant demonstrate need for earlier payment. This decision will be at the discretion of the Executive Committee.

Unused Funds

Any unawarded funds shall revert to the Students' Union and be dealt with as a budgetary surplus.

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