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October 24, 2002 Board asks CSU for financial statement




At the board of governors meeting held yesterday, Feb. 12, board member Alex Carpini proposed a resolution to require the Concordia Student Union and affiliated companies and associations to provide the rector with the most recent audited financial statements and budgets before Feb. 21, 2003.

The resolution goes on to say that if the documents are not produced on time, or if they raise sufficient grounds for concern, funds collected by the university on behalf of the CSU will be held inescrow, i.e., in trust, or be paid to the court until such time as satisfactory explanations have been provided to the board.

The resolution came out of a discussion that began over recent accusations made in The Link about the CSU use of student funds.

The Board has also made several requests over the last few months for audited financial statements from the CSU before approving fee increases for undergraduate students to be collected on behalf of the CSU.

After much discussion, the resolution passed.