sfss: Student society 'in the money' this year
Woosang Lee, The Peak

With the U.S. war on terrorism, a global economic downturn, and the softwood lumber fiasco, it may seem like good news is hard to come by. But the Simon Fraser Student Society's (SFSS) latest financial report shows a surplus whereas they ran a deficit last year.

The SFSS is a non-profit organisation funded by a semesterly student activity fee. The student union has no power to govern student conduct and no powers of legislation over students' lives. The money collected from fees is distributed throughout the student society and affiliated entities such as the Women's Centre, The Peak and CJSF Radio.

The money acquired by the student society allows them to do advocacy work on behalf of SFU students and provide funding for student-run clubs, grad caucuses and departmental student unions.

"We like to think of [the SFSS] as two separate components," said SFSS treasurer Carolyn Tansey. "We have our advocacy side and we have our business."

She explains that on the advocacy side, the student society supports different campaigns concerning such issues as the transit U-Pass and tuition freeze. As well, the SFSS works with the Canadian Federation of Students to lobby government.

"The pub, Quad Books, Higher Grounds coffee bar and our catering services traditionally have lost money in the past," said Tansey.

"The year before 2000, the student society, both advocacy and business side, was actually in the red. Last year however, year 2001, we actually had a surplus." She added that the surplus was generated mostly by better management and business practices as well as a mandatory surplus stipulated in a student society by-law.

In 2000, the SFSS lost $155,386 in contrast to the past year's surplus of $95,845.

"That money was placed into our members' equity, and although members' equity is still in a debt, it improved dramatically over the last year." Tansey predicts that they should be in the black in terms of members' equity sometime in the next two to three years.

Members' equity is the entire value of the student society in terms of their businesses, advocacy, offices, supplies and debts. "Because of the improved financial position of the student society, we are doing a lot better than we have been. [In the] next two or three years, we should be where we want to be," Tansey said.

The SFSS executive member said that the surplus is being used to pay off their members' equity and to continue their advocacy work.

Some other possible future plans include improving The Peak office, making the pub more appealing to students, and providing more funding for clubs, student unions, grad caucuses and the Women's Centre. However, advocacy is their number one priority, said Tansey. She encourages students to get involved with the SFSS. "Get involved in clubs, student unions or grad caucuses. This is why we are here to allow students to have a more enriching student experience."

The SFSS office is located in the Maggie Benston Centre. Their financial statements are now available to the public.

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