Policy Number "2006-01-02"
Policy on Finances
University of Toronto Engineering Society

Last Revision: March 28, 2026

Contents

General #

0.0 # General

1. 0.0.1 # This document outlines:
   1. 0.0.1.a # The ways the Engineering Society provides funding to the engineering student community;
   2. 0.0.1.b # The procedures involved with requesting funds from the Engineering Society;
   3. 0.0.1.c # The methods by which the Engineering Society decides on financial applications.
2. 0.0.2 # In this document:
   1. 0.0.2.a # The "fiscal year" shall refer to from May 1st of the current year to April 31st of the successive year.
   2. 0.0.2.b # A "levy group" shall refer to all groups receiving a portion of the Engineering Society fee except Discipline Clubs.
   3. 0.0.2.c # An "operating expense" is any expenditure that reoccurs, in a substantively similar nature but not necessarily under the same name, of a frequency of less than three years.

The Finance Committee #

1.0 # General

1. 1.0.1 # The Finance Committee shall function as a representation of the undergraduate engineering student body ("student body") in advising the Vice-President Finance on matters specified in this Policy. In addition, the Vice-President Finance may delegate any duty listed under this Policy, except those listed under Finance Policy §6, to the whole or part of the Finance Committee.
2. 1.0.2 # The Finance Committee shall meet at least once a month to conduct their business as outlined in this Policy, except for the months of December and April.
3. 1.0.3 # There shall be a Secretary of the Finance Committee, henceforth referred to as the Finance Secretary, who is a voting member of the Finance Committee, reports to the Vice-President Finance, and shall be responsible for recording all decisions and recommendations made at Finance Committee meetings.
4. 1.0.4 # The Finance Committee may recommend the Board of Directors to approve, and make effective, any decisions decided by the Finance Committee under the purview of this Policy, as per Bylaw 1 §4.12.7.

The Audit Committee #

2.0 # General

1. 2.0.1 # The Audit Committee shall advise the Vice-President Finance on the correctness and compliance of financial records collected under Finance Policy §7.0.
2. 2.0.2 # The Audit Committee shall meet at least once a month to conduct their business as outlined in this Policy except for the months of December and April.
3. 2.0.3 # The Finance Secretary shall be responsible for recording all decisions and recommendations made at Audit Committee meetings.
4. 2.0.4 # The Audit Committee may recommend the Board of Directors to approve, and make effective, any decisions decided by the Audit Committee under the purview of this Policy.

Avenues for Funding #

3.0 # General

1. 3.0.1 # The Engineering Society provides funding to the student body through several funding avenues. Each funding avenue is generally for a different purpose and may have different eligibilities and requirements. Currently, the funding avenues available through the Engineering Society are:
   1. 3.0.1.a # Project Directorship / Associated Entity funding (Chapter 10)
   2. 3.0.1.b # Conference Funding (Chapter 11)
   3. 3.0.1.c # Special Projects Funding (Chapter 12)
   4. 3.0.1.d # Discipline Club Funding (Chapter 13)
   5. 3.0.1.e # Affiliated Club Funding (Chapter 14)
   6. 3.0.1.f # Levy Funding (Chapter 15)
2. 3.0.2 # The Finance Committee is responsible for reviewing all applications under the funding avenues listed in Finance Policy §3.0.1 and may recommend applications for approval at its discretion.
3. 3.0.3 # Each funding avenue shall be associated with a Terms of Reference which may be found in the chapter in the list under Finance Policy §3.0.1. The Terms of Reference shall determine the purpose, eligibility, evaluation, and how the funding may be used for the funding avenue it is associated with. In particular:
   1. 3.0.3.a # All applications to a funding avenue must be for the purpose stated in its Terms of Reference.
   2. 3.0.3.b # All applications to a funding avenue must demonstrate the application's eligibility under its Terms of Reference.
   3. 3.0.3.c # Although the Finance Committee may decide on applications at its discretion, it will incorporate these Terms of References into its reasoning for evaluating applications, in addition to the list in Finance Policy §4.0.4.
   4. 3.0.3.d # All funds approved through successfully applying to a specific funding avenue must be used according to its Terms of Reference. In addition, funds must be spent on anything cited in the approved application with non-substantive changes to price and quality.
   5. 3.0.3.e # All applications to a funding avenue must be sent to the Vice-President Finance through the method specified in the Terms of Reference.
4. 3.0.4 # In addition to any application requirements outlined in each funding avenue's Terms of Reference, an application must:
   1. 3.0.4.a # Contain the applicant's identity and contact information;
   2. 3.0.4.b # Contain an explanation pursuant to the requirements set out in the relevant Terms of Reference;
   3. 3.0.4.c # Contain a budget describing all projected expenses, and where applicable, income.
5. 3.0.5 # Funding applicants are responsible for an application's eligibility under any Terms of Reference.

Application review #

4.0 # Application review process

1. 4.0.1 # The Finance Committee is responsible for reviewing applications for eligibility under Finance Policy §4.0.4 and completeness under Finance Policy §4.0.3.
2. 4.0.2 # The Finance Committee may decide on an application based on information not present on the application. However, the Committee may decide on an application solely based on information present in the application.
3. 4.0.3 # At any month the Finance Committee meets, it shall review every eligible application it receives. However, the Committee need not confer a decision on every application during the meeting, and may table applications indefinitely.
4. 4.0.4 # The Finance Committee may decide on applications at its discretion, though it shall incorporate criteria listed under the Terms of Reference for the application's funding avenue into its reasoning for deciding on applications, as well as Chapter 9 of this Policy.
5. 4.0.5 # Each member of the Finance Committee will have one (1) vote on all applications reviewed by the Committee.
6. 4.0.6 # Requests that the Finance Committee deems unusual or controversial should be deferred to the Board of Directors.
7. 4.0.7 # The Finance Committee shall be responsible for explaining its recommendation and reasoning behind such to the Board of Directors prior to any approval by the Board under Finance Policy §1.0.4.
8. 4.0.8 # All appeals for funding applications shall be heard at the month-end board of directors meeting through a motion to amend the Finance Committee recommendations. All appeals must include:
   1. 4.0.8.a # An explanation describing the reasons for appeal and the amount appealed;
   2. 4.0.8.b # A budget pursuant to the requirements under Finance Policy §4.0.4.

Budgets #

5.0 # General

1. 5.0.1 # The Finance Committee shall assist the Vice-President Finance in creating and keeping Engineering Society operating budgets up to date as defined in Bylaw 4.
2. 5.0.2 # The Vice-President Finance shall open budget submissions for the subsequent fiscal year from Project Directorships, Associated Entities, and Officers of the Societies after the April Board of Directors meeting. Budgets shall be returned as soon as possible to the Vice-President Finance for examination by the Finance Committee.
3. 5.0.3 # A budget submission shall be treated as a request for funding from the submitting entity by the Finance Committee under the Project Directorship / Associated Entity funding avenue and shall be reviewed under Chapter 10 of this Policy.

Reimbursement Process #

6.0 # General

1. 6.0.1 # Anything purchased through funding approved under Finance Policy §3.0.1 may be reimbursed at the Engineering Society's expense after a request pursuant to the remainder of this section has been made. This reimbursement process shall be called the cheque requisition, per Bylaw 4.
2. 6.0.2 # All requests for reimbursement shall use the cheque requisition form provided by the Engineering Society. The form may be found in the Engineering Society office, or on the Engineering Society website, and must be submitted to the Vice President Finance through:
   1. 6.0.2.a # Email to the Vice-President Finance,
   2. 6.0.2.b # In person to their mailbox at the Engineering Society office, and
   3. 6.0.2.c # Any other method that the Vice-President Finance may specify at their discretion.
3. 6.0.3 # A cheque requisition shall contain:
   1. 6.0.3.a # The name of the person to be reimbursed and suitable contact information;
   2. 6.0.3.b # The funding avenue and organisation that funding was approved towards;
   3. 6.0.3.c # A description of what was purchased;
   4. 6.0.3.d # Original, itemized purchase receipts from the place of purchase (card machine receipts are not acceptable);
   5. 6.0.3.e # The signature of an individual responsible for receiving the reimbursement. In case the beneficiary is an organisation, this person must hold signing authority over the organisation's finances.
4. 6.0.4 # Each Officer shall be responsible for ensuring that all cheque requisition forms submitted by any entities they oversee are related to their operations.
5. 6.0.5 # Each Officer shall be responsible for ensuring all cheque requisitions include sufficient documentation, are for the correct amounts, and are in general accordance with the approved funding application the reimbursement is made against.
6. 6.0.6 # Any cheque requisition may be approved at the discretion of its signing Officers, except that Officers must refuse all cheque requisitions that do not meet the requirements set out in Finance Policy §6.0.4 and Finance Policy §6.0.5.

Audits and Financial Reporting #

7.0 # Audits

1. 7.0.1 # All entities that receive funding from the Society shall keep complete financial records of all money they receive from all sources and spend on any expense. This record shall:
2. 7.0.2 # State all sources and individually identifiable recipients of funds and their amounts;
3. 7.0.3 # State the purpose of all expenditures incurred by the Club.
4. 7.0.4 # By the end of June of any year, all Affiliated Clubs and Discipline Clubs are required to submit their financial records spanning the immediately preceding fiscal year to the Audit Committee for audit. All records submitted must comply with the requirements set out in Finance Policy §7.0.1. Any Club that fails to submit their financial records before the deadline above shall be denied the benefits of affiliation until they do so.
5. 7.0.5 # With the records collected pursuant to section Finance Policy §7.0.2, the Audit Committee shall audit Affiliated Clubs' records in the following August, September, November, January, and March.
6. 7.0.6 # The Audit Committee's audit shall be for the purpose of ensuring the financial records it receives are correct and complete, and for ensuring that any fun ding disbursed by the Engineering Society was spent on its intended usage as per the Terms of Reference the funding was approved under.
7. 7.0.7 # As part of an audit, the Audit Committee shall offer feedback on the financial records it receives to the Affiliated Clubs.
8. 7.0.8 # The Audit Committee shall keep the financial records it receives on file for future examination by Affiliated Clubs, Society Members, the Faculty of Applied Science and Engineering, and the Engineering Alumni Association.
9. 7.0.9 # In addition to the regular audit process in Finance Policy §7.0.2, the Audit Committee may initiate an audit of any Discipline Club and Affiliated Club at any time if the Committee, by a majority vote, suspects financial malpractice by a Club, or as part of a complaint resolution process.

7.1 # Financial Reporting

1. 7.1.1 # The Vice-President Finance shall work with the managers of Engineering Stores and the Hard Hat Café to produce a report on expenditures on these two arms of the Society on a monthly basis.
2. 7.1.2 # The Finance Committee shall produce an end of year financial report to be presented at the April Board of Directors Meeting. The report must include:
3. 7.1.3 # A final copy of the Society budget with actual expenditures; and
4. 7.1.4 # A summary of all funding requests that were examined by the Finance Committee that year
5. 7.1.5 # The Vice-President Finance shall ensure that the following information is made available on the Society’s website in a timely fashion after approval:
6. 7.1.6 # The amount of any funding allocation made under the above funding avenues;
7. 7.1.7 # The amount of each allocation from the Skule™ Endowment Fund; and
8. 7.1.8 # The detailed budget of each Internal Director of the Society;

Skule™ Endowment Fund #

8.0 # General

1. 8.0.1 # The Skule™ Endowment Fund Committee shall be responsible for the oversight and management of the Skule™ Endowment Fund. The Vice President Finance and the President shall ensure that the Skule™ Endowment Fund is allocated appropriately and responsibly.
2. 8.0.2 # The Skule™ Endowment Fund shall be governed by a Terms of Reference. Subject to review and approval under the Finance Committee and compliance with the Skule™ Endowment Fund Constitution, the Skule™ Endowment Fund Committee may review and alter these Terms of Reference. The Terms of Reference shall be publicly available. The most recent Terms of Reference may be found here
3. 8.0.3 # All applications to the Skule™ Endowment Fund shall comply with the requirements set out in the Terms of Reference. Every undergraduate engineering student on the Skule™ Endowment Fund Committee, including the President and the Vice-President Finance, shall be responsible for ensuring this compliance.
4. 8.0.4 # The Vice-President Finance shall be responsible for producing a document to summarize all allocations made from the Skule™ Endowment Fund to be presented to the Board of Directors in its last meeting each fiscal year. For more information about the Skule™ Endowment Fund, its constitution may be found here.

Policies applicable to multiple funding avenues #

9.0 # General

1. 9.0.1 # Applications for funding should be sent to the Vice-President Finance through a method that the Vice-President Finance or the Finance Secretary shall designate. Normally, this method will be a web form.
2. 9.0.2 # The method through which applications for funding and the last day applications may be sent shall be circulated in the first week of each month by the Finance Secretary to all Affiliated Clubs, Associated Entities, Officers, and Project Directorships via email, and circulated on the Engineering Society website.
3. 9.0.3 # The last day applications may be received shall be no earlier than the tenth of each month. The Vice-President Finance reserves the right to refuse any application not sent through the method specified or received after the last day applications are being received.
4. 9.0.4 # Trial status clubs may only receive at most $200 per year across all funding avenues, and shall only receive more funding if they successfully receive full status.

Project Directorship / Associated Entity Funding #

10.0 # General

1. 10.0.1 # Project Directorship / Associated Entity Funding is meant to support Project Directorships and Associated Entities in their day-to-day operations. This funding avenue is specifically meant to support operating costs.
2. 10.0.2 # Applications to Project Directorship / Associated Entity Funding may be submitted on every month the Finance Committee operates.

10.1 # Eligibility

1. 10.1.1 # The only entities that may apply to this funding avenue are:
   1. 10.1.1.a # EngSoc Project Directorships, including Temporary Project Directorships;
   2. 10.1.1.b # EngSoc Associated Entities.
2. 10.1.2 # No other entity may apply to this funding avenue.
3. 10.1.3 # To be eligible for consideration, applications must include the following:
   1. 10.1.3.a # All projected sources of income and expenses;
   2. 10.1.3.b # A quote or evidence for the costs of each line item in the “Expenses” section of the application;
   3. 10.1.3.c # An explanation of the purpose of each line item.

10.2 # Evaluation

1. 10.2.1 # Funds cannot be used to purchase:
   1. 10.2.1.a # Alcohol
   2. 10.2.1.b # Intoxicating drugs (including cannabis and psilocybin)
2. 10.2.2 # Funds may only be used for operating expenses.
3. 10.2.3 # When evaluating how funds should be distributed, the finance committee must consider the following criteria:
   1. 10.2.3.a # The requester's ability in carrying out the use of funds as intended.
   2. 10.2.3.b # Demonstrated effort to compare and identify the best value among alternatives, if applicable.
   3. 10.2.3.c # Incorporation of good budgeting practices, including the presence of a contingency.
   4. 10.2.3.d # How reasonable the requested funding amount is relative to the recipient’s activities.
   5. 10.2.3.e # How inclusive the recipient’s events are.
   6. 10.2.3.f # The availability of support as per the Engineering Society operating budgets.
4. 10.2.4 # The above criteria are not watertight components; strength demonstrated in one criterion may compensate for weakenss in another.

10.3 # Distribution and use of funds

1. 10.3.1 # Funds will be distributed via the cheque requisition system outlined in this Policy. Funds from both Club and Individual Applications will be distributed this way.
2. 10.3.2 # Funds must be spent on items cited in the approved application with non-substantive changes to price and quality. Changes to purchases after approval should be communicated with the Vice-President Finance.

Conference Funding #

11.0 # General

1. 11.0.1 # Conference Funding has been generously enabled by the donation of from the Faculty of Applied Sciences and Engineering and the associated Alumni Fund. The purpose of this funding avenue is to support students in attending conferences/events for their own personal development or community achievement.
2. 11.0.2 # Applications to Conference Funding may be submitted on every month the Finance Committee operates.
3. 11.0.3 # Throughout this chapter:
4. 11.0.4 # A conference is a gathering of people with a common interest or background about a common topic. This means:
   1. 11.0.4.a # A conference must be a gathering of multiple people;
   2. 11.0.4.b # Attendees to a conference must have a common interest or background;
   3. 11.0.4.c # A conference must be on a well-defined topic.
5. 11.0.5 # Whether an event may qualify as a conference is up to the Finance Committee's discretion, guided by the above criteria.
   1. 11.0.5.a # A competition generally qualifies as a conference under the above definition.
6. 11.0.6 # An external conference is a conference whose organizing body is not a member of, or affiliated with, the Engineering society.
   1. 11.0.6.a # The term "organizing body" does not apply to individuals.
   2. 11.0.6.b # An academic conference is a conference whose topic incorporates any amount of engineering science or engineering design based on the CEAB's definition.
   3. 11.0.6.c # Examples of academic conferences include academic and industry symposia, competitions, and training workshops or seminars, provided that they contain an engineering science or engineering design element.
7. 11.0.7 # A hobby conference is any conference that is not an academic conference.

11.1 # Eligibility

1. 11.1.1 # All members of the Engineering Society may apply for this funding avenue. Individuals may apply by filing Individual Applications.
2. 11.1.2 # The following entities may file Club Applications on behalf of their members:
   1. 11.1.2.a # EngSoc Affiliated Trial and Full-Status Clubs, except Levy Groups
3. 11.1.3 # If engineering students attend a conference to represent a particular entity's interests or present work done as part of the entity's activities, the entity must file a Club Application on the members' behalf. Otherwise, the individuals attending the conference may file Individual Applications. The following entities may not file Club Applications on behalf of their members:
   1. 11.1.3.a # Levy groups
   2. 11.1.3.b # Non EngSoc Affiliated Entities
4. 11.1.4 # However, engineering students attending a conference on behalf of an entity that may not file Club Applications may not any claim funding from this funding avenue for that conference, even from filing an Individual Application.
5. 11.1.5 # Conference funding applications must be submitted in the same fiscal year the conference is being held in, unless:
   1. 11.1.5.a # The conference is held in March or April of a given year, in which the conference funding application may be filed in the following fiscal year;
   2. 11.1.5.b # The conference is held in May or June of a given year, in which the conference funding application may be filed in the preceding fiscal year.

11.2 # Evaluation

1. 11.2.1 # There is no fixed limit as to how much funding any individual may receive, provided any other requirements for this funding avenue are met.
2. 11.2.2 # All conference funding applications must demonstrate how participation in the conference creates benefits to attendees and the Skule™ community;
3. 11.2.3 # An application must be solely composed of eligible costs, which satisfy the following criteria:
   1. 11.2.3.a # It is necessary for participation in the conference;
   2. 11.2.3.b # It avoids excessive fees, more than what is deemed necessary for participation in the conference;
   3. 11.2.3.c # Its use in participating in the conference is sufficiently differentiated from any other use cases it may have.
4. 11.2.4 # All of the following are considered eligible costs:
   1. 11.2.4.a # Long distance travel from the GTA (beyond the range of any local transit services) e.g. airplane tickets, train tickets, bus fares, and rental vehicles;
   2. 11.2.4.b # Room and board;
   3. 11.2.4.c # Conference equipment e.g. banners, electronics;
   4. 11.2.4.d # Shipping of conference equipment.
5. 11.2.5 # All of the following are not considered eligible costs:
   1. 11.2.5.a # Short range travel within local transit services within or outside the GTA. This is because transit use cannot be traced to attendance in a conference;
   2. 11.2.5.b # Ridesharing or taxi;
   3. 11.2.5.c # Gasoline;
   4. 11.2.5.d # Food and socials.
6. 11.2.6 # All Club Applications must explain how reimbursements for conference costs borne by individuals will be handled within the club.
7. 11.2.7 # An individual may only receive at most $750 from all Individual Applications combined (in the fiscal year 2026-7).
8. 11.2.8 # A club may only receive at most $5000 from all Club Applications combined (in the fiscal year 2026-7).
9. 11.2.9 # A conference funding application for an academic conference may only cover the lesser of $750 or 50% of the eligible costs for the conference per individual per conference.
10. 11.2.10 # A conference funding application for a hobby conference may only cover the lesser of $500 or 50% of the eligible costs for the conference per individual per conference.

11.3 # Distribution and use of funds

1. 11.3.1 # Funds will be distributed via the cheque requisition system outlined in this Policy. Funds from both Club and Individual applications will be distributed this way.
2. 11.3.2 # Funds must be spent on items cited in the approved application with non-substantive changes to price and quality. Changes to purchases after approval should be communicated with the Vice-President Finance.

Special Projects Funding #

12.0 # General

1. 12.0.1 # Special Projects Funding is intended for non-operating expenses for initiatives that enhances a club’s ability to benefit the Skule™ community or new events that benefit the Skule™ community.
2. 12.0.2 # Applications to Special Projects Funding may be opened on every month the Finance Committee operates.

12.1 # Eligibility

1. 12.1.1 # Only the following entities are eligible for special projects funding:
   1. 12.1.1.a # EngSoc Project Directorships and Associated Entities
   2. 12.1.1.b # EngSoc Affiliated Trial Clubs (that are NOT EngSoc Levy Groups)
   3. 12.1.1.c # EngSoc Affiliated Full-Status Clubs (that are NOT EngSoc Levy Groups)
2. 12.1.2 # Furthermore, the following groups are NOT eligible for special projects funding:
   1. 12.1.2.a # Levy Groups
   2. 12.1.2.b # Non EngSoc Affiliated Entities
   3. 12.1.2.c # Discipline Clubs
3. 12.1.3 # To be eligible for consideration, applications must include the following:
   1. 12.1.3.a # Details of the scope of the project and how it will benefit the Skule™ Community
   2. 12.1.3.b # A plan of how the project will be carried out, including a timeline of the work
   3. 12.1.3.c # All projected sources of income and expenses
   4. 12.1.3.d # A quote or evidence for the costs of each line item in the “Expenses” section of the application. Evidence must cite a primary source (e.g. online marketplace screenshot)
   5. 12.1.3.e # An explanation of the purpose of each budgeted line item

12.2 # Evaluation

1. 12.2.1 # Funds cannot be used to purchase:
   1. 12.2.1.a # Alcohol
   2. 12.2.1.b # Intoxicating drugs (including cannabis and psilocybin)
   3. 12.2.1.c # Gift cards
   4. 12.2.1.d # Stationery
2. 12.2.2 # Funds may not be used for operating expenses.
3. 12.2.3 # Items that are eligible for special projects funding are items that are one-time expenditures which will not be incurred, in the same or a similar form, again over the course of the recipient's lifetime.
   1. 12.2.3.a # Trial status clubs will only be given $200 per year across all funding sources, including this source.
4. 12.2.4 # When evaluating how funds should be distributed, the finance committee must consider the following criteria:
   1. 12.2.4.a # Impact on the Skule™ community.
   2. 12.2.4.b # The requester's ability in carrying out the use of funds as intended.
   3. 12.2.4.c # Demonstrated effort to compare and identify the best value among alternatives, if applicable.
   4. 12.2.4.d # Incorporation of good budgeting practices, including the presence of a contingency.

12.3 # Distribution and use of funds

1. 12.3.1 # Funds will be distributed via the cheque requisition system outlined in this Policy.
2. 12.3.2 # Funds must be spent on items cited in the approved application with non-substantive changes to price and quality. Changes to purchases after approval should be communicated with the Vice-President Finance.

Discipline Club Funding #

13.0 # General

1. 13.0.1 # Discipline Club Funding is to support Discipline Clubs with their annual, day-to-day operations.
2. 13.0.2 # Discipline Club Funding provides all discipline clubs with a set portion of the Engineering Society Fee. The amount of Discipline Club Funding is set out as per Bylaw 7 § 1.0.

13.1 # Eligibility

1. 13.1.1 # Only Discipline Clubs are eligible for this funding avenue.

13.2 # Evaluation

1. 13.2.1 # No budget evaluation is required to benefit from this funding avenue. Provided the requirements of other Bylaws and Polices are met, discipline clubs will benefit from Discipline Club Funding automatically.

13.3 # Distribution and use of funds

1. 13.3.1 # Funds will be distributed in three rounds: once between September and November ("Fall round"), once between January and March ("Winter round"), and once between April and May ("Spring round") of any given year.
2. 13.3.2 # 60% of a discipline club's total funding from this avenue will be allocated in Fall round. 25% of a discipline club's funding will be allocated in the Winter round. 15% of a discipline club's funding will be allocated in the Spring round.

Affiliated Club Funding #

14.0 # General

1. 14.0.1 # Affiliated Club Funding is meant to support Engineering Society Affiliated clubs with their annual, day-to-day operations. This funding avenue is specifically meant to support operating costs.
2. 14.0.2 # Affiliated Club Funding materialises in two forms: CPSIF and Winter Club Funding, both of which have the same eligibility criteria but different timings.
   1. 14.0.2.a # CPSIF occurs in the fall term of every year. The deadline is decided by the Faculty of Applied Science and Engineering.
   2. 14.0.2.b # Winter Club Funding only happens at the discretion of the Vice-President Finance, and is opened at least three months after the distribution of CPSIF results to provide time for teams to reassess their funding requirements.

14.1 # Eligibility

1. 14.1.1 # The following groups are eligible for this funding avenue:
   1. 14.1.1.a # EngSoc Affiliated Trial Clubs
   2. 14.1.1.b # EngSoc Affiliated Full-Status Clubs that are NOT levy groups.
2. 14.1.2 # The following groups are not eligible for general club funding:
3. 14.1.3 # The following groups are NOT eligible for this funding avenue:
   1. 14.1.3.a # Levy Groups
   2. 14.1.3.b # Non EngSoc Affiliated Clubs
   3. 14.1.3.c # Discipline Clubs
   4. 14.1.3.d # Project Directorships
4. 14.1.4 # To be eligible for consideration, applications must include the following:
   1. 14.1.4.a # The club’s mission and how it benefits the Skule™ Community
   2. 14.1.4.b # All projected sources of income and expenses
   3. 14.1.4.c # A quote or evidence for the costs of each line item in the “Expenses” section of the application
   4. 14.1.4.d # An explanation of the purpose of each line item

14.2 # Evaluation

1. 14.2.1 # Funds cannot be used to purchase:
   1. 14.2.1.a # Alcohol
   2. 14.2.1.b # Intoxicating drugs (including cannabis and psilocybin)
2. 14.2.2 # Funds may only be used for operating expenses.
3. 14.2.3 # When evaluating how funds should be distributed, the finance committee must consider the following criteria:
   1. 14.2.3.a # How the club provides technical and/or professional value to the community.
   2. 14.2.3.b # How the club provides value through community building.
   3. 14.2.3.c # How inclusive the club’s events are.
   4. 14.2.3.d # The requester's ability in carrying out the use of funds as intended.
   5. 14.2.3.e # Demonstrated effort to compare and identify the best value among alternatives, if applicable.
   6. 14.2.3.f # Incorporation of good budgeting practices, including the presence of a contingency.
   7. 14.2.3.g # How reasonable the requested funding amount is relative to the club’s activities.
4. 14.2.4 # The above criteria are not watertight components; strength demonstrated in one criterion may compensate for weakenss in another.

14.3 # Distribution and use of funds

1. 14.3.1 # Funds will be distributed in three rounds: once between September and November ("Fall round"), once between January and March ("Winter round"), and once between April and May ("Spring round") of any given year.
2. 14.3.2 # 60% of a discipline club's total funding from this avenue will be allocated in Fall round. 25% of a discipline club's funding will be allocated in the Winter round. 15% of a discipline club's funding will be allocated in the Spring round.

Levy Funding #

15.0 # General

1. 15.0.1 # Levy Funding is meant to support highly involved clubs with a source of funding beyond that which any other funding avenue may provide.
2. 15.0.2 # Engineering Society Levies have a maximum duration of two years after which they must be renewed.
3. 15.0.3 # Applications for Levy Funding are open in February only.

15.1 # Eligibility

1. 15.1.1 # This section discusses eligibility requirements for entities that wish to file an application for Levy Funding. See "Distribution and use of funds" for requirements on maintaining levy group status while a levy is in force.
2. 15.1.2 # All applicants interested in receiving or renewing a levy must be full status club affiliated with the Engineering Society or an Affiliated Entity.
3. 15.1.3 # To be eligible for consideration, applications must include the following:
   1. 15.1.3.a # A letter addressed to the engineering student body explaining the group’s activities, accomplishments and needs;
   2. 15.1.3.b # The amount the group wants to request from students; and
   3. 15.1.3.c # A budget for the current year.
   4. 15.1.3.d # A constitution or governing document that outlines the goal, governance structure, methods of accountability, and transition procedures of the group.

15.2 # Evaluation

1. 15.2.1 # Levy funds may only be used for operating expenses.
2. 15.2.2 # When evaluating a levy application, the Finance Committee must consider the following criteria:
   1. 15.2.2.a # How the club provides technical and/or professional value to the community.
   2. 15.2.2.b # How the club provides value through community building.
   3. 15.2.2.c # How inclusive the club’s events are.
   4. 15.2.2.d # The appropriateness of the levy amount relative to the applicant's mission and activities.
   5. 15.2.2.e # The applicant's ability in carrying out the use of funds as intended.
   6. 15.2.2.f # Incorporation of good budgeting practices, including the presence of a contingency.
   7. 15.2.2.g # Demonstrated effort to compare and identify the best value among alternatives, where applicable.
   8. 15.2.2.h # The absence of other funding avenues which may support the team.
   9. 15.2.2.i # Awareness of the applicant's direct accountability to levy-paying students, and the likelihood of the levy surviving referendum.
3. 15.2.3 # The Board of Directors may refuse to hold a referendum for an applicant for any reason, including but not limited to:
   1. 15.2.3.a # The group does not follow adequate safety procedures;
   2. 15.2.3.b # The group does not follow adequate accounting procedures;
   3. 15.2.3.c # The group is not an affiliated club;
   4. 15.2.3.d # If the applicant does not currently posses a levy, the applicant does not currently receive more than $1,000 in affiliated club funding;
   5. 15.2.3.e # The group did not provide a complete submission for the Board of Directors; or
   6. 15.2.3.f # The group received a levy in the previous year and failed to submit required documents to receive their fee installments in a reasonable amount of time.

15.3 # Distribution and use of funds

1. 15.3.1 # This section discusses requirements on receiving funds and maintaining levy group status while a levy is in force.
2. 15.3.2 # Funds will be distributed in three installments: once between September and November ("Fall round"), once between January and March ("Winter round"), and once between April and May ("Spring round") of any given year.
3. 15.3.3 # 60% of a discipline club's total funding from this avenue will be allocated in Fall round. 25% of a discipline club's funding will be allocated in the Winter round. 15% of a discipline club's funding will be allocated in the Spring round.
4. 15.3.4 # To receive the first installment of fees, levy groups must submit to the Vice-President Finance and Vice-President Student Life, no later than on August 31 of any year:
   1. 15.3.4.a # A list of each member of that group authorized to its behalf and their current home address, phone number, and email address;
   2. 15.3.4.b # Proof that the group has a bank account and that the only authorized signatories for disbursements are current signing officers of the organization; and
   3. 15.3.4.c # A preliminary or forecast budget for the subsequent year.
5. 15.3.5 # The Vice President Finance shall post the items listed in Finance Policy §15.3.4 in a location accessible to members of the Engineering Society.
6. 15.3.6 # In addition to any consequences in the Audits chapter (get chapter no), any Levy funding that the Levy Group will receive shall be withheld by the Engineering Society up until the Levy Group's audit is concluded, provided that the audit does not result in an investigation by the Ombudsperson.