2012-2013: Difference between revisions

2012-2013 (view source)

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→‎Reduction of the Temporary Special Levy and Renewal of the Endowment Fund

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 ===Reduction of the Temporary Special Levy and Renewal of the Endowment Fund===
-Up for its 15th renewal in the 2013 Officer Elections, the [[Temporary Special Levy Fund|Temporary Special Levy]] was reduced, from $150 to $125, for the first time since its inception. $125 represents $57.86 in 1983 dollars, meaning that the current 2013 Special Levy is only slightly more than half of the original fee as instituted in 1983. The 2013 renewal referendum question also included a provision allowing the Board of Directors to redirect surplus funds from the Special Levy Fund to the permanent Endowment Fund.
+Up for its 15th renewal in the 2013 Officer Elections, the [[Temporary Special Levy Fund|Temporary Special Levy]] was reduced, from $150 to $125, for the first time since its inception. $125 2013 dollars represents $57.86 in 1983 dollars, meaning that the 2013 Special Levy is only slightly more than half of the original fee as instituted in 1983. The 2013 renewal referendum question also included a provision allowing the Board of Directors to redirect surplus funds from the Special Levy Fund to the permanent Endowment Fund.
 The [[Engineering Society Endowment Fund|Endowment Fund]] was renewed for the first time in 2013, amid negotiations with the Faculty over a major capital contribution to the construction of a new engineering building on the site behind Simcoe Hall. Notable milestones for the Fund in 2012-2013 including signing an agreement to donate the funds collected in the first two years of its existence to the University to form a trust to be administered jointly by EngSoc and the Faculty and approval of the first Endowment Fund Constitution.