Budget Review Policy

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Adopted 2017-08
Last Modified 2017-08

ENGINEERING UNDERGRADUATE SOCIETY OF MCGILL UNIVERSITY BUDGET REVIEW Policy Adopted 08/2017

Article 1: Definitions

1.1 The Engineering Undergraduate Society of McGill University (hereafter referred to as “ EUS ”) is the registered name of the non-for-profit corporation representing the engineering and architecture undergraduate students at McGill University.
1.2 The Board of Governor s of the EUS is the administrative board of the Engineering Undergraduate Society of McGill University (hereafter referred to as the “Board”) which is composed of Administrators as defined by the EUS Constitution.
1.3 EUS Groups shall be defined as officially recognized groups under the EUS Constitution such as Clubs & Design Teams, Departmental Societies

Article 2: Purpose/Mission

2.1 The Budget Review Policy shall lay out the membership and procedures of a Board of Governor Special Budget Review meeting.
2.2 The Board of Governors shall review and adopt the Fall and Winter budgets of the EUS

Article 3: Membership and Quorum

3.1 The voting membership of the Special Budget Review meeting shall be the same voting membership as defined by the EUS Constitution, for regular meetings of the Board of Governors
3.2 The non-voting membership of the Special Budget Review meeting is as follows
3.2.1 The Finance Director
3.2.2 The Clubs Representative
3.2.3 The Design Team Representative
3.2.4 Three (3) members selected from the EUS Council, by the EUS Council
3.3 The Speaker of the Board of Governors shall chair Special Budget Review meetings
3.4 Quorum for voting shall be the same as defined by the EUS Constitution during regular Board of Governor s meetings
3.5 The Special Budget Review Meetings shall be open to any Regular or Associate Member of the EUS
3.5.1 The Special Budget Review meeting shall be advertised to as many Regular Members as possible
3.5.2 Anyone not part of the EUS shall not be allowed to attend the Special Budget Review Meeting
3.5.3 All Members of the EUS who attend the Special Budget Review meeting shall be accorded the right to speak at this meeting.

Article 4: Responsibilities & Procedures

4.1 A Special Budget Review meeting shall take place before the adoption of the Fall and Winter budgets by the Board of Governors
4.2 The Vice President Finance of the EUS shall be responsible for producing a budget and distributing it to the members of the Special Budget Review meeting at least 5 days before the scheduled date of the Special Budget Review meeting
4.3 The Chair of the Board of Governors shall be responsible for advertising the date and location of the Special Budget Review meeting through all EUS communication channels to Regular Members of the EUS
4.4 The EUS Executives shall:
4.4.1 Review the proposed budgets of every committee under their portfolio prior to submitting them to the Vice President Finance of the EUS
4.4.2 Submit the proposed budgets before the deadline set by the the Vice President Finance of the EUS and the Finance Director of the EUS
4.4.3 Present the proposed budgets of the committees under their portfolio at the Special Budget Review meeting
4.4.4 Answer questions from the members of the Special Budget Review meeting and other EUS members in attendance concerning the proposed budgets of their respective committees
4.5 Members of the Special Budget Review meeting shall review the budgets presented by the EUS Executives and deliberate on whether they should be adopted
4.5.1 Amendments may be made to proposed budgets, and must be approved by a simple majority vote of the Special Budget Review meeting.
4.6 Once deliberations have ended, the members of the Board of Governors shall vote on the adoption of the budget

Article 5: Budget

5.1 Expenses related to the Special Budget Review meeting shall fall under the Board of Governors discretionary budget
5.2 Expenses shall be limited to advertising purposes, coffee, and food

Article 6: Amendments

6.1 Amendments to this policy must be approved by a simple majority vote of the Board of Governors of the EUS

Article 7: Interpretation

7.1 In the case of a conflict between this policy and the following documents, the following documents prevail in the order they are listed in:
7.1.1 The Quebec Companies Act
7.1.2 The EUS Letters Patent
7.1.3 The EUS Constitution
7.1.4 The Financial Bylaws of the EUS