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Presented by Sean Fleming, CUS President

Commerce Undergraduate Society Endowment. Presented by Sean Fleming, CUS President. Sources of the Surplus. $441,644 in Operating Surplus on May 1 st , 2013. Where we are now. 1999 Fee Increase. Conservative Budgeting. Increase in BCom Enrollment. Causes. Sources of the Surplus.

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Presented by Sean Fleming, CUS President

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  1. Commerce Undergraduate Society Endowment Presented by Sean Fleming, CUS President

  2. Sources of the Surplus $441,644 in Operating Surplus on May 1st, 2013 Where weare now 1999 Fee Increase Conservative Budgeting Increase in BCom Enrollment Causes

  3. Sources of the Surplus $441,644 in Operating Surplus on May 1st, 2013 Where weare now 1999 Fee Increase Conservative Budgeting Increase in BCom Enrollment Causes Invest portion of Accumulated Surplus Introduced Better Financial Controls Lowered Fees to $245 Changes Create sustainable, cost-efficient value for students Where we can be

  4. Sources of the Surplus $441,644 in Operating Surplus on May 1st, 2013 Where weare now 1999 Fee Increase Conservative Budgeting Increase in BCom Enrollment Invest portion of Accumulated Surplus Introduced Better Financial Controls Lowered Fees to $245 Changes Create sustainable, cost-efficient value for students Where we can be

  5. February Council Meeting • Previous: • IMANT Endowment • $250,000 • $50,000 over 5 years • Old Contract Is this the best way to invest the money? Is this what students want? Does the contract protect students?

  6. Since February Council Meeting Is this the best way to invest the money Is this what students want? Does the contract protect students?

  7. Investment Criteria Return on Investment Measured in monetary or monetary equivalent terms, adjusted for length of investment Which channel provides the most value? Inter-generational Benefit Does this benefit past, current or future students? Which students benefit? Fit with Organization Does this fit the CUS’s abilities and goals? Want to make sure this investment can be successfully implemented and overseen by future groups of leaders Is the value adequately protected? There are legal, operational and uncertainty risks with any investment and these need to be evaluated Legal Protection

  8. Investment Options 2 3 1 AMS Endowment CSC Down Payment IMANT Endowment .87% -.41% 3.5% Real Return Principal – Very Low Payments - Medium Medium None after Payment Flexibility Low/Medium Medium Low Risk UBC IMANT provides the best tradeoff of risk and return

  9. Investment Options 2 3 1 AMS Endowment CSC Down Payment IMANT Endowment .87% -.41% 3.5% Real Return Principal – Very Low Payments - Medium Medium None after Payment Flexibility Low/Medium Medium Low Risk UBC IMANT provides the best tradeoff of risk and return

  10. UBC Investment Management Trust • IMANT Endowment 3.5% return, $10,500/year in spending Long term value for students Strong legal protections for students

  11. Since February Council Meeting Is this the best way to invest the money Is this what students want? Does the contract protect students?

  12. Referendum Results “I authorize the Commerce Undergraduate Society’s Board of Directors to approve a transfer of $300,000 from its accumulated operating surplus to an endowment to be administered by the University of British Columbia’s Investment Management Trust, with the annual returns from this investment to be used for projects and activities benefiting Bachelor of Commerce students.”

  13. Since February Council Meeting Is this the best way to invest the money Is this what students want? Does the contract protect students?

  14. Changes to Contract Review by External Legal Counsel – Michael Blatchford; Bull, Houser, and Tupper Article 6/7 Any changes must support the purposes (Benefits to BCom students) Schedule A More clarity about how the money is disbursed and spent

  15. Investment Options 2 3 1 AMS Endowment CSC Down Payment IMANT Endowment .87% -.41% 3.5% Real Return Principal – Very Low Payments - Medium Medium None after Payment Flexibility Low/Medium Medium Low Risk UBC IMANT provides the best tradeoff of risk and return

  16. Encroachment History

  17. Appendices

  18. AMS Endowment • AMS Endowment .87% return (5 year average), $2,610/year Flexibility if new projects emerge Exposed to all the same risks as the CUS

  19. Investment Returns

  20. AMS Investment Returns

  21. The actual return was 2.53%, 27% lower than stated

  22. 2 3 1 Objective #1: Create Quality Content Elevate industry standard for television content

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