Guardianship Policy

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Adopted 2017-07
Last Modified 2018-08

ENGINEERING UNDERGRADUATE SOCIETY OF MCGILL UNIVERSITY GUARDIANSHIP Policy Adopted 07/2017

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 Governors​ of the EUS is the administrative board of the Engineering Undergraduate Society of McGill University which is composed of Administrators as defined by the EUS Constitution
1.3 The EUS shall recognise all Departmental Societies, Clubs, and Design Teams set forth in the relevant articles of the EUS Constitution as EUS Groups​.

Article 2: Purpose/Mission

2.1 The Guardianship Policy shall lay out the details and procedures surrounding the verification of the finances of EUS Groups​ that have shown poor maintenance of their finances

Article 3: Procedures

3.1 The Guardianship shall be led by the Finance Director of the EUS, and shall be referred as the Internal Auditor
3.2 The Guardianship shall last until the end of the current fiscal year, unless shortened by a vote from the Board of Governors
3.3 The Guardianship entails the following points, but is not limited to:
3.3.1 Full verification of all the expenditures made by the EUS Group
3.3.2 Necessary approval of the Internal Auditor ​for any expenditure made by the EUS Group​.
3.3.3 Limitation of the exposure taken by the EUS Group​ for large scale events.
3.4 EUS Groups​ may still apply for any funding without restrictions.

Article 4: Amendments

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

Article 5: Interpretation

5.1 In the case of a conflict between this policy and the following documents, the following documents prevail in the order they are listed in:
5.1.1 The Quebec Companies Act
5.1.2 The EUS Letters Patent
5.1.3 The EUS Constitution
5.1.4 The EUS Financial Bylaws