Funding & Finances
PLEASE NOTE: The MSU Clubs Department is in the process of closing all CIBC/PACE Club Bank Accounts and transferring them internally to be managed by the MSU. All clubs will be notified on how to manage/access these accounts as soon as they are ready. We do ask for your patience as we facilitate this large scale transfer.
Please click HERE to download the budget template that clubs are required to submit to receive a budget. This needs to be filled out as accurately as possible, with as much detail included as possible.
Budget requests for CLUBS RATIFIED for the 2019-2020 year must be submitted to email@example.com with the subject "[CLUB NAME] Budget Submission 2019" by SEPTEMBER 22nd at 11:59PM
Failure to meet this deadline will result in lack of budget allocation for the 2019-2020 school year. Budget submissions will only be accepted if submitted using the template found above, with the correct email subject line.
Clubs have the option to choose between PACE and CIBC to bank with. Below are the appropriate forms required to change the signing officers of an account, or open a new account. Make sure you submit the correct form!
- Once you have completed the form, please drop off the form to the Clubs Administrator (MUSC 215A).
- If you are with CIBC - once the form has been signed,, you will recieve a call to pick it up from MUSC 201. You then need to phone CIBC Westdale to set up an appointment.
- If you are with PACE - Once signed, the form will be faxed over to PACE- you do not need to pick up the form. PACE will contact you to set up an appointment.
- BOTH BANKS WILL NOT PROCESS YOUR REQUEST IF YOU DO NOT HAVE AN APPOINTMENT AS THEY DO NOT DO WALK-INS
- Whoever has 2017-2018 Signing Officer access will need to be present at the appointment in order to open the account, with two pieces of government issued photo ID.
- If you are just changing Signing Authorities, you do not need to have past Signing Officers present at the meeting.
CLAIMING FUNDS FROM MSU
Clubs can only claim funds from the MSU by filling out claim forms.
Reimbursement forms MUST be submitted semesterly this year.
- For term 2 expenses, all claim forms must be handed in to the MSU Accounting Office (MUSC 201) by Friday, April 3rd, 2020 at 4:59PM at the latest. Good practice is to hand in forms regularly after you spend money so you can get your money back instead of waiting till April.(Forms will NOT be accepted after April 3rd, no exceptions will be made)
You must drop off the CLUBS CLAIM FORM in person, to the Accounting Office at MUSC 201 with all original receipts attached. (photos of receipts are not accepted!)
Reimbursement approvals are made at the discretion of the Clubs Administrator - any purchases that do not benefit the entire club or the general student body will not be approved for reimbursement.
Clubs are entitled to ONE Underground Claim form in which they can expense up to $150 of purchase due on MARCH 23rd, 2020 at 4:59PM. This is to make it easier for the Accounting Department who will have to process the extra claim forms. Once you’ve filled the form, you will hand it to the Accounting Office (MUSC 201) with all original receipts, and a cheque will be made out to your club. Due to time constraints, no exceptions will be granted and no forms will be accepted after the aforementioned deadline. You MUST use the form below!
After a club has been approved for reimbursements, a cheque will then be available to the club in the following 2 weeks. All cheques are made in the club's name and not to personal accounts to be deposited into the club bank account. Cheques can be collected from the MSU Accounting Department in MUSC 201.
ADDITIONAL FUNDING SOURCES
Undergraduate Student Initiative Fund (USIF)
Another way to obtain funding is through the Undergraduate Student Initiative Fund. There are TWO times during the year when they accept applications. Criteria and Guidelines can be found by clicking here. For more information, including the application, please click here.
Special Project Funding:
Clubs may also request for further MSU Funding through a Special Project Funding request. The purpose of the Clubs Special Project Funding is to allow clubs the opportunity to work collaboratively on an event that brings clubs together and positively represents MSU Clubs, the MSU and McMaster University.
Applications for Special Project Funding can be completed by filling out the application here.
All applications must be sent in 30 days prior to event. Only approved application will be contacted.
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