Committee Chair: George Darling
Mandate:
The CIM UMS Funding Committee’s mandate is to manage and distribute funds in and out of the society. The Funding Committee will be lead by a Chair and support the objectives of the CIM UMS.
The Funding Committee will liaison with national on sponsorship and donations. It will also participate in fundraising efforts, promoted by national, that are relevant to the society. The Chair will communicate once per month with national on potential funding issues.
The Funding Committee will be composed of 3 members, a committee chair and 2 other board members and will serve for a 2-year term. All members will be from the UMS Board.
The Funding Committee, in working with the Treasurer, will ensure that funds are distributed in a manner serving the UMS mandate. The Funding Committee will also recommend any fundraising ventures that fall under the UMS mandate.
At the beginning of the budget year funds will be allocated to items that fall within the scope of the UMS mandate. This will form a funds budget. This might be sponsorship, recurring donations or expenses related to the funding committee. Funding requests follow the template guidelines found on the National website. For this reason, the Funding Committee with liaison with national on the merit of requests falling under the UMS mandate. The sponsorship requests, once vetted with National, will be approved by the UMS Board. Approved sponsorships will be followed up by the funding chair to ensure funds have been allocated per request form. Any deviations will be reported to the Board. The Funding Committee will meet once per month to analyse requests.
Donations also require Board approval. The following threshold levels are in place for sponsorship and donation approvals;
$1000 plus UMS Board approval
$500 -$999 Funding Committee/Treasurer and Fund Chair
Under $500 Treasurer and Fund Chair only
At each Board meeting a report will be presented of all sponsorships and donations approved or in process from the previous month.
The Funding Committee will also work with MEMO to support the convention in funding methods.
A simple majority vote of the funding committee will approve the funds under the guidelines above
Strategic Goals:
Annual Objective (2021/22):
