SUB financing approved

The board unanimously approved a Commitment Letter from the Bank of Nova Scotia regarding financing for the new Student Union Building (SUB). At the SFSS AGM in September, the student body approved a motion that would allow the board to procure a loan for the project to move forward.

As such, the board authorized the SFSS to “establish the Credit Facilities and borrow monies from the Lender upon such terms and conditions [. . .] pursuant to the Commitment Letter,” among other items.

Emergency Food Bank Certificate Program

There was a brief discussion about the status of the SFSS’s Emergency Food Bank Certificate Program. The program identifies students in financial need and helps them cover the costs of food expenses. It was noted by Business Representative Hangue Kim that over 3,000 students have used the program since it began. Kim suggested looking into improving accessibility to the program and improving the screening process to prevent misuse.

VP External Kathleen Yang brought up that the word “emergency” might deter people who may be in financial need, but not in dire circumstances.

Food and Beverage Services mandate

The society’s Food and Beverage Services (FBS) has a new mandate in an effort to prevent further deficits. The mandate, passed unanimously, specifies that whereas the FBS currently “has no clear mandate,” it should operate as a profitable business and a report should be drafted about the feasibility of this mandate.

VP University Relations Brady Yano explained the reasoning behind the new mandate: “We didn’t want to set the bar at break-even.”