KSA's audited financial statements approved at a special meeting of council

At a special meeting of council on March 17, the Kwantlen Student Association approved the 2023 budget and audited financial statements to be presented at the annual general meeting (AGM) scheduled on March 31. 

Armaan Dhillon, Lesli Sangha, Guntas Kochar, Karan Singh, Destiny Lang, Rupinder Kaur, Navpreet Singh, Divya Sachdeva, and Abdullah Randhawa were in attendance. 

Diljot Singh Narula, Henry Chang, Karan Kaushel, Gurjot Singh, Earndeep Singh Kandola, and Dilnoor Kaur were absent. 

In the audited financial statements of last year provided to council, the revenue for the Grassroots Cafe increased to $199,547 compared to $22,504 in 2021 when classes were online. 

Grassroots expenses increased from $138,170 in 2021 to $315,487 last year, which aligns with operation costs pre-pandemic at $507,885 in 2019 and $492, 353 in 2018. For 2023, $375,080 is proposed in the budget. 

Election expenses increased from $48,742 in 2021 to $59,916 in 2022, a significant jump compared to pre-pandemic expenses of $20,037 in 2019 and $33,638 in 2018. 

Executive and representative stipends increased from $87,090 in 2021 to $119,945 for 2022, which is an overall decrease from pre-pandemic expenses of $161,668 in 2019 and $171,004 in 2018. 

Wages, subcontractors, and benefits increased from $1,698,066 in 2021 to $1,752,121 last year, with $1,486,253 proposed for the 2023 budget. 

According to the audited financial statement, Singh received $30,974 for VP of External Affairs, Sangha received $20,028 for VP of Finance and Operations, Dhillion received $47,363 for VP University Affairs, and the VP Student Life received $18,883, which Manmeet Brar represented from April to September, and Kochar has represented since mid-October after the byelection. 

Wages, subcontractors, and benefits expenses included $462,828 paid to five employees last year, an increase from $420,459 in 2021. 

The Societies Act requires disclosure of amounts paid to contractors and employees of $75,000 or more, reads the statement. 

For the AGM, students will be required to bring their KPU IDs. To meet quorum, at least 60 members of the society (students) must be present, 100 members to consider a special resolution, and at least 150 members for a special resolution in regards to amending the society’s constitution or bylaws. 

Several special resolutions will be presented at the AGM, including a “Councillor Non-Attendance” policy, “Mandatory Orientation Sessions,” and a “Student Union Debenture Authorization” for the Student Union Building (SUB). 

If passed, the non-attendance policy would require a councillor who has missed two council meetings during their term without submitting regrets be sent a warning letter. If absence continues up to three meetings without regrets, a motion will be set to remove the councillor from office. 

In addition, if a councillor is 30-minutes late or more for a meeting or leaves the meeting sooner than two hours of the scheduled time or the meeting’s adjournment, they will be considered absent for that meeting. 

The orientation session policy would mandate anyone elected or appointed into the KSA to complete official council orientation sessions in the manner set out by council, and the “Student Union Debenture Authorization” policy would allow the KSA to borrow money from a third party in amounts deemed reasonable or necessary for the development of the new SUB. 

The next council meeting is scheduled for March 30 at 10:00 am in Birch 250 and over Microsoft Teams. 

The AGM is scheduled in-person in Fir 128 on March 31 at 12:00 pm to 2:00 pm.