What Money we have

There are therefore 3 areas where large amounts of money have been accumulated. The first of these is the Development Fund. This has built up over a long period of time because Executives in past years have underspent their budgets. The money has been invested in loans to student organisations (eg. Rugby Club and Ski Club), interest bearing loans, and shares. The Executive has power to spend this money without any restriction. The total of this fund stands at about $29,000.

The second area of accumulated funds is the Union Building Extension Trust fund. The balance in this at the moment is about $39,000. The Exec, has power to spend this money as it wishes.

The third area of accumulated funds is the Union Building fund, held by the University. Unfortunately, the University is not allowed by law to even lend it to us.

In summary then, the Exec. can draw from the Development and Trust funds about $64,000 in cash. The other $4,000 is not immediately available, and the Exec. is unable to use the $140,000 in the Union Building Fund.