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Finances

Finances & Funding

Where does student money go? What kind of funds are available to you? What about subsidies? These are all good questions and we’re guessing you want answers. You can get a full breakdown of our finances and funding here or attend a Council meeting and hear for yourself! We’re not lonely or anything, but we love visitors and have food.

AMS Budget

The Budget is the foundation upon which the AMS’ finances are built. Find out what this year’s budget looks likeand how it is divided up into non-discretionary tranfers and net discretionary revenue.

AMS Fees

Here you can find a breakdown of the AMS and non-AMS fees you pay, along with how you can Opt-Out and Opt-In of some fees. You will also find information on subsidies available.

AMS Funds

What fund and grants are available to you as an AMS member?
Whats fund and grants are available to you as a member of an AMS Club and/ or Constituency?

Clubs/ Constituencies

Here you can find all the financial information you need to handle the financial side of your club or constituency, starting with the Treasurer Authorization Process, which is mandatory for all Treasurers.

Financial Reports

Where did student money go? These reports will tell you this in great detail including the management of expenditures and business contributions, and the anticipated budget going forwards.

Finance Department

It can be hard working out who you need to talk to but we have tried to make this section as clear as possible. If you are still stuck, select the most suitable contact and they can always redirect you!

AMS Budget

The Budget is the foundation for AMS finances and operations. This document is updated on an annual basis as income and expenses fluctuate depending on student enrollment, the projects, services, and agenda of Student Government, as well as the broader economy. The society generates revenues from three main areas: student fees, businesses and investments. The estimated revenue for the 2019/2020 Fiscal Year is roughly twenty-two million dollars ($23,000,000). This can be broken down into two major sub-elements: Non-Discretionary Transfer and Net Discretionary Revenue.

Click here to view the AMS 2019-2020 budget.

Click here to view the AMS 2019-2020 budget with (provisional) actuals from 2018-2019.

See below, under Financial Reports, for previous years’ budgets.

NON-DISCRETIONARY TRANSFERS

Non-Discretionary Transfers describes money that is automatically given to AMS subsidiary organizations and constituencies, which are responsible for how that money is spent. For Fiscal Year 2019-20, Non-Discretionary Transfers make up just under 91% of total revenue, amounting to roughly nineteen million five hundred thousand dollars ($20,900,000). These transfers include revenue collected through student fees, which after collection, are transferred to the appropriate AMS subsidiary organizations and constituencies.

NET DISCRETIONARY REVENUE

After the Non-Discretionary Transfers are made, and the Student Health and Dental Plan premiums are paid out, the Society is left with the ‘Net Discretionary Revenue’. For Fiscal year 2019-20, this is over $2,600,000. This ‘Discretionary Income’ is the portion of Revenue the Vice-President Finance and Budget Committee of Student Council use to pay for the administration of Student Government, the seven Student Services (Tutoring, SafeWalk, Speakeasy, Vice, Food Bank, Advocacy, eHub), Financial Aid, Programs and Publications, and additional services, including lobbying deemed necessary to improve the academic, personal and social lives of the students at UBC.

AMS Fees

AMS Student Fees

Fee
General Fee $42.26
Capital Projects Fund Fee $8.19
Student Aid Bursary Fee $12.00
Athletics and Intramural Fee $21.00
Ombudsperson Fee $1.11
Sexual Assault Support Services Fee $9.30
SUB Renewal Building Fee $100.00
WUSC Fee $5.61
Resource Groups Fee* $1.73
Lighter Footprint Fee $2.59
International Fee $0.29
Bike Kitchen Fee* $1.10
Clubs Benefit Fee $1.73
Childcare Bursary Levy Fee $1.15
CiTR Fee* $5.74
Student Legal Fund Fee $1.00
Campus Culture and Performance Fee* $2.25
Health and Dental Plan* $256.92
Graduating Class Fee $3.00
Constituency Fees Varied
Sustainable Food Access Fund Fee $0.35
Indigenous Student Fund $0.95
Permanent Campus Thrift Shop Fee $0.95
Total AMS Fees (excluding Constituency Fees) $479.22

Non AMS STUDENT Fees

Fee
U-Pass Fee (per term)* $164.00
Ubyssey Fee* $6.89
Total Non-AMS Fees $170.89

*these fees can be opted-out of.

To opt-out or opt-in of these fees, or to apply for a subsidy, see the next section.

Opt-Out and Opt-In

Opt-Outs

There are seven fees UBC students can opt-out of: CiTR fee, Bike Co-op/ Kitchen fee, Resource Groups fee, Ubyssey fee, Arts & Culture Fee, U-Pass, Health & Dental plan.

If you wish to Opt-Out of any fees, make sure to submit your Opt-Out requests within the designated period. Students can only Opt-Out in Term 2 or summer term if that is your first term of enrollment this academic year. Opt-outs for Winter Session (Terms 1 and 2) will be open from January 6th to 30th 2020 with the exception of the Health and Dental Plan.

Please note that there are no Opt-Outs during the summer period for students who were enrolled in a preceding Winter semester, as students are not charged returnable fees again during Summer sessions (with the exception of the U-Pass). Only students whose first semester of enrollment is a Summer term can opt out during this time. For all dates and deadlines pertaining to opt-out, please refer to UBC’s academic calendar.

How to Opt-Out

Bike Co-op
Visit the Bike Kitchen in Room 36 in the UBC Life Building (6138 Student Union Blvd), visit the Bike Kitchen online or phone: (604) 827-7333

CiTR
Visit their office in the NEST LL500, or contact Dora Dubber at volunteer@citr.ca.

Ubyssey
Visit their office in the NEST 2208, or contact Douglas Baird at business@ubyssey.ca.

Resource Groups Fee/Campus Culture & Performance Fee
Fill out the opt-out form and follow the steps below.

Health & Dental Plan
Visit www.studentcare.ca and complete the necessary steps. Be sure to do this within the Change of Coverage period by January 23, 2020 (for new Term 2 students only). Questions? The Health & Dental Plan office is located in NEST 3128. You can only opt-out of Heath and Dental with proof of alternate medical coverage only.

U-Pass
Fill out the exemption form on the Student Service Centre (SSC) website.


Opt-Ins

In accordance with the AMS code of procedures Section XIII, Article 3(7) and pursuant to AMS Bylaw 14(9), Active Members of the Society who are not eligible for the exclusive services of the health and dental plan and the U-Pass due to their special fee exemption status, may Opt-In to the Society’s fees in order to receive the aforementioned benefits.

How to Opt-In

Students are able to opt-in and out-out only in their first term of the academic year. The term in which you begin your classes is considered your first term of the year. For example if you didn’t start classes until Winter Term 2, then Winter Term 2 would be your first term of the year.

If Winter Term 2 is your first term of the academic year at UBC, the deadline for opting-in is January 30th, 2020. If your first term at UBC was September 2019, then the next time you can opt-in or opt-out is September 2020.

To Opt-In fill out the Opt-In form and follow the steps.

For the Summer terms, students can submit opt-in requests up to two weeks before the start of the relevant term. For opt-in requests outside of this timeline (e.g. in the middle of the semester, or summer) please contact Vpfinance@ams.ubc.ca

PLEASE NOTE: Should you wish to Opt-In to AMS Fees, you must Opt-In to all AMS Fees.

For any questions, or further information on Opt-in’s, Opt-outs or Subsidies, please contact Vpfinance@ams.ubc.ca


Subsidies

The AMS offers hardship subsidies to students that demonstrate they’re experiencing genuine financial hardship. Students can apply for four kinds of Hardship Subsidies: Full U-Pass, Partial U-Pass, SUB Renewal, AMS Fee.

The values for the subsidies for current the Winter session (2019/2020) are:

  • Full U-Pass Subsidy: $164
  • Partial U-Pass Subsidy: $82
  • SUB Renewal Subsidy: $100
  • AMS Fee Subsidy: $113.90

How to apply

Fill out the Subsidy form and follow the steps. Applications accepted until January 30, 2020.

Current applicants will receive notification of their status by the end of February. Successful applicants will receive the funds as a credit in their SSC account in March.

Please contact Vpfinance@ams.ubc.ca for any questions about applying for hardship subsidies.

AMS Funds

The Finance Department administers AMS funds to assist students, clubs, and constituencies with innovative projects. All AMS fund applications are available below. Please note, in order for the applicant to receive the fund if approved, the applicant will have to provide us with:

  • A detailed final report that outlines the impacts of your project, as well as a final budget
  • Copies of receipts, invoices etc, that total to at least double the amount of funding you were approved for.

Premium Assistance Fund

Partial or full reimbursement of the Health & Dental Plan fee ($244.69) is available on a needs basis from the AMS and GSS through the AMS/GSS Health Plan Premium Assistance Fund. The application form is available at www.gss.ubc.ca/health.

Student FundS

There are several funds available for students led projects and initiatives, listed below.

Fund
Description
Details & Contact
Sustainability Projects Fund
For sustainable projects contributing to an environmentally conscious culture through student-led projects. The committee meets once a month to review projects. Max amount: $15,000/project

Apply Anytime

Application details here.

Contact: sustainadmin@ams.ubc.ca

Innovative Projects Fund
For students, faculty and staff working on projects that benefit a significant number of students and further develop campus community. In the past, innovative projects have included media initiatives and new student services. Max amount: $3,500/year; no more than $10,500 over 3 consecutive years.

Deadline: Friday, February 22, 2019

Application details here.

Contact: fundsandgrants@ams.ubc.ca

Students Initiatives Fund
For UBC students only. Used to fund philanthropic, academic or other causes deemed worthy by the AMS Finance Commission Max amount: $1,000/project, less than 75% the cost of the project

Deadline: at least 3 weeks prior to the project

Apply Here

Contact: fundsandgrants@ams.ubc.ca

Impact Grant
For UBC students interested in conducting scholarly research to build knowledge and understanding of post-secondary matters affecting UBC Vancouver’s community. The ultimate goal of the program is to create a healthier, more supportive, more successful student community. Max Amount: $5,000/ project

Deadline: March 15, 2019

AMS Impact Grant Application Form 2019

Contact: vpacademic@ams.ubc.ca 

AMS Impact grant holders
Grant holders 2017-2019
Past reports
Suicide Ideation and Attempts among First-year Undergraduates at UBC

Clubs and Constituency FUNDS

There are six funds administered directly by the AMS for Clubs and Constituencies, listed in the table below. Clubs are also able to acquire loans from the AMS if their budgets are temporarily experiencing, or will soon experience, a deficit.

APPLICATION PROCESS

In order to apply for AMS funds, applicants must fill out the relevant forms.

Sustainability Projects Fund (SPF) please email sustainadmin@ams.ubc.ca.

After submission, applications are reviewed at the bi-weekly Fund Committee meetings. If an application is approved, the applicant will be asked to provide final submission documents.

Other UBC Funds

Apart from the funds handled by the AMS Finance Committee, there are some alternative funding options available.

Fund
Description
Details & Contact
Clubs Benefit Fund
All AMS Constituted Clubs are eligible if budget and executive list is approvedOne time project only, cannot be annual events

Used to fund events, special projects related to the club’s academic interest, or furnishing expenses which benefit the club as a whole

Granted only once per fiscal year per club.

Max Amount: $2000/club or 75% of total cost

Deadline: at least 3 weeks prior to the project

Apply Here

Competitive Athletics Fund
An AMS Club competing in races/competitions, or hosting tournaments at UBC, used to purchase necessary equipment or rental of sports facilities.-Applicants of this fund may not be eligible for funding from UBC Athletics Max Amount: $3,600/club, no more than three-quarters of the cost of the project 

Deadline: At least 3 weeks prior to the project

Apply Here

Constituency Aid Fund
Used to fund elections referenda expenses, communication expenses or furnishing expensesElections per referenda per communication expense shall total 20 cents per constituency member but no less than $100 in total and no more than $500

Granted only once per fiscal year per constituency

Max Amount: $1,000/ Constituency, no more than three-quarters of the cost of the project 

Deadline: At least 3 weeks prior to the project

Apply Here

Sexual Assault Initiatives Fund (SAIF)
This fund is currently inactive. N/A.
Walter Gage Memorial Fund  Current UBC Students affiliated with the AMS, faculty or from a recognized UBC Organization-Non-curricula student activities that enhance the University’s reputation. Max Amount: $2000/group

Deadline: Before the event is completed

Please contact
UBC VP Students

Global Lounge Fund
 

Current UBC student organizing an international/intercultural event or project, preferably with a long term impact-Preference to initiatives involving the global lounge and its members.

Max Amount: $2000/student

Deadline: third Monday every month, at least 2 weeks before the event

Please contact global.fund@ams.ubc.ca

Student Society Emergency Aid Program
 

Joint program between the AMS and the Ministry of Advanced Education-Established to provide emergency aid funding through student raised money to assist students in need

Funds are distributed in the form of bursaries

Max Amount: $10,000/year

Contact your Enrolment Services Professional (ESP) for more information

Constituency Funds
All Constituencies provide funding to students for travel costs, special projects etc. Please contact your respective Constituencies for further information

Clubs & Constituencies

Clubs & Constituencies

This section covers relevant information for treasurers including Treasurer Authorization and budget submission processes. Please refer to the 2019-20 Procedure Guide for a more detailed breakdown of some of the most important policies and procedures regarding Club and Constituency finances.

Treasurers Authorization Process

Please note that this process is the same for ALL treasurers, regardless if you are a returning treasurer from last year.

Step 1: Complete the Treasurer Authorization Form

Note! Make sure to save the Signature Card File as a PDF named:  “MainAccountCode_ClubName_LastName_FirstName” (for example 123_FinanceClub_Yan_Tyler)

Completing Step 1 grants you temporary signing authority until the end of orientations.  You must complete Step 2 (attend an orientation) in order to be fully authorized for the rest of the year.

After completing the Treasurer Authorization Form, you can assume you are authorized within 48 hours (business days). 

Step 2: Attend a Treasurer Orientation

Email Anna at fincom@ams.ubc.ca for the latest information on Treasurer’s orientations. Information on orientation sessions and sign up links will be posted on Clubhouse.

After completing the Treasurer Authorization Form and attending a Treasurer Orientation, you are a fully authorized treasurer! We will be sending out budget templates shortly after you are fully authorized.

Budgets
Shortly after full authorization, you will receive a budget template. Budget submissions are due within two weeks of receipt. No exceptions will be made as everything can be completed remotely.

Any subsidiaries that fail to submit their budget by this deadline will have their accounts frozen.

Forms

Every AMS Club has to submit certain information to the AMS for administrative purposes, to process transactions, etc. The 2018-19 Procedure Guide includes all information you will need to navigate the different administrative processes. All the forms you need can be found at the island outside the AMS Front Desk on the 3rd floor of the Nest. These must be submitted in person to the AMS Front Desk.

Some further supporting documentation is available below.


Fintech

Sharepoint and Account Access

One of the fundamental roles of a Treasurer is keeping track of the club’s finances. To do so, you can get a print out of your club’s account details at the front desk administration office, or get it online. The AMS Main Offices are open during the summer from 9 am to 4 pm; treasurers can come to the main office between these hours to request the print outs. To review your club’s accounts online, treasurers can see club account balances and transaction details online via sharepoint.ams.ubc.ca. Treasurers and presidents who need access to their accounts should email fincoordinator@ams.ubc.ca.


Square

Square is a point of sale software aimed at replacing traditional credit card terminals and cash registers. Square allows clubs and constituencies to take credit card payments for all club operations. The devices are provided free of charge by the AMS, to register for Square, please fill out the Square Request Form. Please contact fincoordinator@ams.ubc.ca with any questions about Square.


Showpass

Showpass is our online event and ticket organizer. Showpass enables you to create and sell customized tickets to events. You can also get access to information on revenue holdings, ticket sales, and invoices, with the ability to process refunds. It is straightforward and open to everyone on the web, so more traffic can get to your event page. Please contact fincoordinator@ams.ubc.ca with any questions about Showpass.


RBC USBank Credit Card

A credit card may be given to clubs and constituencies who have applied and been accepted for its use based on that individual clubs prior fiscal year revenue and expenses. Clubs and Constituencies with a RBC USBank Credit Card are able to directly spend their club funds with a credit limit set up to 3% of the clubs/constituencies previous year’s net revenue. Many conditions apply to this program because transactions are not approved by the AMS before they are taken out of the club account. Organizations that are a part of this program must submit a monthly report. To be approved for a credit card, contact fincoordinator@ams.ubc.ca to start the application process.

 

 

Financial Reports

The financial reports posted here are split into three sections: AMS Financial Reports; Societies & University Group Financial Reports; Constituency Financial Reports.

AMS Financial Reports provide an overview of the Society’s financial standing including contributions and expenses relative to its budget. The reports track performance throughout the Fiscal Year, the management of expenditures and business contributions, and the anticipated budgetary forecasts going forwards.


AMS Financial Reports

2019-2020 Fiscal Year

2018-2019 Fiscal Year

2017-2018 Fiscal Year

2016-2017 Fiscal Year


Societies & University Group Financial Reports


Constituency Financial Reports

 

Finance Team

Name & Title Contact Duties & Responsibilities
Lucia Liang
Vice President Finance
VPFINANCE@AMS.UBC.CA
(604) 822-3973
NEST 3526
Oversees all financial operations of the AMS.
Grace Ji
Associate Vice-President Finance
FINCOMVC@AMS.UBC.CA
(604) 827-2737
NEST 3304
Oversees all financial operations of Clubs & Constituencies; Monitors club accounts and Financial Policies and Procedures
Rishav Jasrotia
Financial Systems Coordinator
FINCOORDINATOR@AMS.UBC.CA
(604) 827-2737
NEST 3304
Oversees all financial systems used by the society; Square, Showpass, SharePoint, US Bank Credit Cards. Assists in all implementation of new financial technology.
Anna Mackenzie
Clubs & Constituencies Financial Administrator
FINCOM@AMS.UBC.CA
(604) 822-2361
NEST 3501
Oversees the Treasurer Authorization Process, conducts Treasurer Orientations, grants, SharePoint Access and oversees Financial Forms and Budget Submissions.
Viktoria Lonča
Funds & Grants Administrator
FUNDSANDGRANTS@AMS.UBC.CA
(604) 822-2737
NEST 3504
Processes all fund and grants applications, short term loan applications, Finance Department minutes, opt in/opt out options for fees.
Solomon Atta
Sustainability Fund Administrator
SUSTAINADMIN@AMS.UBC.CA
(604) 827-2737
NEST 3304
Oversees the Sustainability Project Fund.
Irafasha Credo
WUSC Fund Coordinator
WUSC_SRP@AMS.UBC.CA
(604) 827-2737
Oversees the financial operations of WUSC.
Joan Yu
Financial Administrator
JOANYU@AMS.UBC.CA
(604) 822-5910
Accounts payable approval, sub account code changes, events insurance.
Britney Wu
Financial Processing Assistant
britneywu@ams.ubc.ca
(604) 822-0571
Financial Systems payments, payment status for cheques, historical data for any AMS bank account.
Tomomi Miyano
Accounting/Office Assistant
tomomimiyano@ams.ubc.ca
(604) 822-3978
General accounting support and administration.
Cathy Chaye/ Christine Tu
Cashier
CASHIER@AMS.UBC.CA
(604) 822-1877
Processes cash reimbursements.