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Students' Union Finances
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    Annual Budget

    The Students' Union Executive Committee adopts its annual budget in June of each year. This corresponds to the fiscal year, which runs from June 1 to May 31.

    The North Island Students' Union is one of the smallest budget Unions in Canada.  Directors typically budget This makes the North Island Students' Union one of the smallest in Canada.

    As per the bylaws of the Students' Union, 25% of the funds collected at each campus is allocated as the budget for the campus council. This means that one quarter of the fees paid by each student to the Students' Union are directed back to services and events at their respective campus. The remaining 75% is used to cover the cost of running the organisation and paying for events, servcies and campaigns for all students at all campuses.

    Annual Audit

    In order for the Students' Union to collect fees, it must ensure that all the funds it collects are treated with respect and accountability. Annually the Students' Union commissions an external audit of its finances and record keeping. This audit is performed by an accreditied accounting firm which is chosen annually at the Students' Union's annual general meeting. Currently, the auditor is Calvin Tompkins of the Vancouver firm Tompkins, Wozny, Miller and Company.

    Annual General Meeting

    The bylaws of the Students' Union mandate that an annual meeting is held of members to whom the Executive Committee presents the audit and an annual report. The annual general meeting, or AGM, is held within the region served by the Students' Union and each campus council sends delegates as voting members to the meeting.

    The role of the AGM is to adopt the audit, appoint the auditor for the coming year, receive the report of the Executive Committee and consider any motions that have been served with notice. Motions considered at a general meeting often involve amendments to the constistution and bylaws of the Students' Union or adoption of new procedures or processes.