CFS AGM agenda leaked...

Canadian Federation of Students Agm November 2009 Agenda

Drop Fees campaign putting the SFUO in the RED?

Illustration by Maria Rondon ©2009 Fulcrum Publishing Society

When it comes to balancing the books, apparently the SFUO's VP finance Roxanne Dubois has a few problems. It has been reported, in yesterday's edition of the Fulcrum, that the SFUO is currently in red, having recorded a sizable deficit. The article entitled Looking over the books reported that the Student Federation of the University of Ottawa is facing a budget shortfall of about $162 147 compared to a surplus of $215 529 at this time last year.

Why is it that Ms. Dubois, the SFUO's VP finance (and apparently a member of CFS national executive as Francophone Students' Representative), hasn't been able to balance the books this year? Well, this is what she had to say:

Dubois further noted that part of the reason for the deficit is due to the Agora Bookstore and Internet Café bringing in less money this winter.

She also mentioned the fact that an $80 000 endowment (investment) has not done so well in the past year.

Alright, well that's fair given the worldwide recession we have been going through.

BUT, wait a second!?!? I read another interesting article pertaining to a certain Canadian Federation of Students (CFS) campaign that goes by the name of "Drop Fees" or if you would to get more specific, the "new and improved" campaign title: "Drop Fees for a Poverty-Free Ontario".

Apparently $20 000 (at the VERY LEAST) has been spent on this CFS-inspired campaign. Some might say that isn't a whole lot of money. But when you're running a deficit of over $160 000, that IS A LOT OF MONEY. Will any questions be asked about what Ms. Dubois is planning on doing in order to balance the books by the end of this fiscal year (April 30, 2010)? I sure hope so! Possibly more information about how and with whom this $80 000 endowment was invested should be another question that is asked, but this time directed to the Board of Administration of the SFUO (BOA) who approved such an investment.

This is OUR money and we have every right to know WHO is using it, WHAT it is being used for, WHERE it is kept/invested, WHY the SFUO has a budget deficit, and WHAT will be done to balance the SFUO's books by the end of this fiscal year.

IF YOU DON'T ASK, THEY WILL NOT TELL!