Annual Report 12/13...Halloween Costume Contest ! For Halloween, SAMU hosted a costume contest at...

STUDENTS’ ASSOCIATION OF MACEWAN UNIVERSITY

Annual Report 12/13

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REPORT FROM THE PRESIDENT !ELECTIONS AND REFERENDA !

HIGHLIGHTS OF THE YEAR !PROGRAMS AND SERVICES OFFERED !

BANNER NIGHT AWARD WINNERS !AUDITED FINANCIAL STATEMENTS !!!!!!!!!!!!!!!!!!!!!!!!!

!!!!!FOUR !SIX !SEVEN !ELEVEN !FOURTEEN !FIFTEEN !!!!!!!!!!!!!!!!!!!!!!!!!!!

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MISSION

To enrich the MacEwan University

student experience.

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VISION

To provide an environment of

excellence for opportunities, services,

experiences, and advocacy within the

MacEwan University community.

!!!!The Students' Association of MacEwan University (SAMU) saw tremendous change in the 2012-13 year. In April of 2013, our General Manager Thomas McDade departed SAMU after a year-and a-half of service. The organization saw Jodi Campbell, former MacEwan University student advisor, hired as interim General Manager. This type of change at the upper levels of management in any students’ association presents two byproducts: challenges and opportunities. The challenge inherent in this shift is in trying to maintain continuity of institutional knowledge; however, the opportunity found is in the freshness of creating a new organizational direction and in the new learning prospects for all those involved. !Prior to this departure and subsequent new hire there were many laudable accomplishments and humbling learning experiences that took place at SAMU. At the start of the school year we held Fall Fest, our annual welcome back event for students. This year marked a noticeable difference in that the entire event (with stage, musicians, food trucks, and all) was held off campus across the street from City Centre Campus. This was done in response to external funding pressures. The event was held as a success because of the great number of students who attended and in the amount of goodwill shown. !In this year’s winter elections and referendum cycle, our student membership voted overwhelmingly to support the renewed U-Pass contract between our association and the three local transit authorities. The contract, negotiated by a

!!!!!group of local student leaders that included SAMU representatives, extended the life of this valuable transit program well into 2017. The renewed contract was negotiated down to a reasonable price point for students and looks ahead to the day when Smart Fare technology is introduced and can accurately aid in transit ridership analysis. !SAMU pulled a “first” this year and adopted a five-year strategic plan. The association incorporated input from various internal stakeholders to create this document, which has a heavy emphasis on our organization reaching one of its most critical goals: constructing a SAMU building. The association’s highest governing body, Students’ Council, has mandated that the building project be a top priority. Finding a new permanent home for SAMU has been a labourious and intensive endeavour. Through all this, I’m pleased to see the foundation for the building project laid down this past year in the form of the following actions: the topping up and growing of the Building Fund; the establishment of a joint building steering committee between SAMU and the university; and the continued work on the building feasibility study by Kasian Architecture Interior Design & Planning Ltd.

A major review of our organization’s committee structure also took place this year and resulted in the total overhaul of how these governance bodies operate. This culminated in the passing of a newly integrated Committees Policy by Students’ Council, which led to a number of new or reformed committees (such as the newly created Audit Committee).

Report from the President///////////////////////////////////

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!!!!!With so many more accomplishments and experiences to list and yet so little space to write them I thought I would save one of the most important to students’ wellbeing for last. This past year SAMU established the Department of Student Advocacy and Political Affairs. Hired as the department’s inaugural director was Duncan Wojtaszek, former executive director of the Council of Alberta University Students. The creation of this unique department embodies our continued commitment to being the best advocates for the students of MacEwan University. I have high hopes that this department and the support it provides to both elected student executives and the association as a whole will see many positive returns for our membership. Finally, I’m extremely proud of the resilience and commitment shown by our 45 plus full-time and part-time staff, countless volunteers, board members, and by my fellow executives. We should all review what we have been through as an organization, reflect on it, and know that it was all for the selfless purpose of serving students. It has been a transformational year for SAMU and I’m so excited to see what happens next. !Jed Johns President

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“The association’s highest governing body,

Students’ Council, has mandated that the

building project be a top priority.”

!!!!!The 2012 Students’ Council election and 2013 Executive Committee election varied in voter turnout by a large margin. Due to technical difficulties, the Students’ Council election was conducted using paper ballots at physical polling stations. As such, only 2.7% of the membership cast a vote. The Executive Committee election, which utilized electronic polling software instead of paper ballots, saw a higher voter turnout, with 13% of the membership casting a vote. !!Chief Returning Officer Matthew Bissett !!Academic Governance Council !William Belton* Centre for the Arts and Communications Representative !Ahmed Kermalli* Faculty of Health and Community Studies Representative Jenna Heinemann* Faculty of Health and Community Studies Representative !Josh Stock* Faculty of Arts and Science Representative !Rebecca Taylor* School of Business Representative !!Councilors !William Belton* !Virgil Cardinal* !Harry Ding* Emmanuel Ejiro* Jamie Fraleigh* Alain Gagnon* !

!!!!!!!William Hamilton* Jenna Heinemann* Jinessa Kowalewsky* Joseph Kubelka* Peter Lee* Alexander Ma* Tyler Majeau* Cameron McCoy* Duane Perera* Logan Robicheau* Dan St. Pierre* Josh Stock* Rebecca Taylor Kaushal Wadugodapitiya* !!Executive Committee !Jed Johns* President (outgoing) !Cameron McCoy* President (incoming) Ryan Roth Vice-President Academic Kassie Russell* Vice-President Operations and Finance (outgoing) !Josh Stock* Vice-President Operations and Finance (incoming) !Nicole Tupechka Vice-President Student Life !!U-Pass Referendum - March 2013 !(Full-time students voted on the program’s renewal subject to a $7.50 increase per year for four years) !Successful - 77% in favour

Elections and Referenda///////////////////////////////////

/// 6*Denotes representation for only a portion of the July 2012 - June 2013 reporting period.

!!!!Advocacy Expansion !SAMU identified advocacy as a key priority this year and hired a new position to help address this. As such, the department of Advocacy and Political Affairs was created. SAMU is now poised to expand our lobbying efforts within the university, municipally, provincially, and federally. !!Common Ground Week !Common Ground offered students the chance to participate in workshops ranging from sessions on cooking locally sourced food, bicycle commuting, and worm composting. We also offered a range of do-it-yourself projects encouraging students to reuse items and get creative. SAMU provided resources on sustainable living, created an indoor Farmer’s Market (complete with produce, delicious baked goods, and crafts), and offered a Free Store where students could snag clothes, books, and other used goods. SAMU involved many volunteers in this event and ended the week with an interactive interview with George Stroumboulopoulos. !!Food Bank CollaborationThis year, the Student Food Bank saw a surge in utilization by 25%. 316 hampers were given out, amounting to 9.7 tonnes of food. Donations for the year totalled $15,442 largely due to a collaboration with BUSN 201 classes. The results were so incredible that SAMU needed to

!!!!!investigate new storage space for the Student Food Bank. !!Fall Fest !In 2012, SAMU decided to take the annual Fall Fest off campus. Existing agreements with MacEwan University and their catering provider, Aramark, would have meant that students would have had to pay higher prices for food and beverages at an on-campus event, and the university would have profited from these sales rather than SAMU. To ensure that students saved money and that funds were returned to students through SAMU’s programs and services, SAMU relocated the two-day music festival to a lot across the street. The Arkells, Elliott Brood, Said The Whale, Michael Bernard Fitzgerald and Michael Rault played at the event, while students enjoyed food from the Molly’s Eats and The Act food trucks. The event also included plenty of free giveaways, soda and popsicle stands set up by SAMU clubs, and a Molson beer garden. The event went on without incident and student feedback was positive. !!Halloween Costume Contest !For Halloween, SAMU hosted a costume contest at the Centre for the Arts and Communication. In addition to the winner receiving $150 cash, students received an 8 X 10 picture of themselves dressed up for free. Brandon Kelm, the Lifestyle and Wellbeing Coordinator, created a

Highlights of the Year///////////////////////////////////

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!!!!!unique background for the photos that went with the Halloween theme of a “Creepy Carnival”. !!Here Comes the Sun !An annual end of the year celebration at South Campus, Here Comes the Sun, showcased local bands, while offering students a free lunch and other activities to commemorate the end of the school year. This year over 450 students attended to mingle and say goodbye to SAMU staff at their campus. !!Peer Support Success Continues !Peer support had another successful year with 87 students accessing this service. October, November, and March saw the most utilization, especially for access to condoms and pregnancy tests. For larger issues, our volunteers frequently referred students to the Student Life department, the Birth Control Centre, and the Student Food Bank. !!Peer Tutoring Program Launches !Launched in January 2013, and still expanding, the Peer Tutoring program at Alberta College Campus works to unite students with the aims of improving their grades and providing learning opportunities outside of the classroom. As this campus has many international students and students upgrading their grades from

!!!!!high school, this service is highly beneficial. !!Policy Manual Overhaul !Students’ Council saw a need to refresh SAMU’s outdated bylaws, policies, and procedures. An intern was hired for the summer to help sift through these documents while Students’ Council and the Executive Committee moved ahead with substantive additions like the Committees policy and the Approvals procedure respectively. This is the largest overhaul of the policy manual in nearly a decade. !!Safe Walk Success !During previous year, Safe Walk had a small number of volunteers and operated within the limited hours and only on particular days of the week. This year however, Safe Walk was able to operate from 6:00 pm to 11:00 pm daily. There was also an increase in awareness of the service. This was the result of a new Safe Walk logo and additional promotion, as well as the Safe Walk centre being relocated to the main foyer of the City Centre Campus. 298 walks were completed this year by 30 trained volunteers contributing 740 hours of their time. The most requested walks were to the West Parkade, Conora LRT Station, Residence, and the Residence Surface Lot.

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!!!!!SAMU Building Project !As identified in the Strategic Plan as SAMU’s top priority, incredible progress was made this year on the Building Project. Students’ Council approved a feasibility study to determine the space requirements of our programs and services along with a suite of new offerings that the next generation of students will benefit from. The “Capital Development Fund” was renamed to become the “Building Fund” to narrow the scope of future infrastructure spending. !This year, the Building Project became more than just a priority for SAMU, it became a goal of MacEwan University’s Board of Governors. Further, the Board approved a motion, in principle, that a portion of the land north of the Sport and Wellness facility would be set aside for the Building Project. !!SAMU Rebrand !SAMU went through a complete rebrand over the course of the 2012-2013 school year. While the former logo was intended to represent SAMU's departments, we felt that the components of our new brand, such as the logo, our website, and presence on campus, needed to represent our students. Our graphic designer worked to create a clean logo design with several workable variations, while the Director of Marketing and Communications implemented these designs in a cohesive website and overall brand concept. Working with Paperleaf, a

!!!!!web design company in the city, we launched samu.ca in November of 2012. Since then, our web-traffic has been remarkably high and student participation has increased in all facets of our social media. !!SAMU Speaker Series !The SAMU Speaker Series saw great success during the 2012-2013 school year. SAMU hosted four speakers: sex therapist and television host, Sue Johanson; Post Secret Founder, Frank Warren; Lieutenant General Romeo Dallaire; and Canadian icon George Stroumboulopoulos. !!South Campus Volunteers !A huge success at SAMU’s South Campus was the volume and quality of volunteers. Over 290 hours of volunteer time were put in over the course of the school year, through work with SAMU events, programs, and services. These volunteers showed initiative, spirit, and commitment. !!Southern Alberta Flood Relief !The worst natural disaster in Canadian history struck southern Alberta in late June. To aid our fellow students, a vehicle full of excess student food bank donations was delivered to Calgary to the delight and gratefulness of our friends to the south.

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!!!!!Strategic Plan Update !SAMU created a new five-year strategic plan this year which clearly identified moving forward with the SAMU Building Project as our top priority. This was the iteration of such a document and it will be updated yearly to reflect progress towards our goals and to identify new strategic directions. !!Taking on City Hall !Over the course of the year the U-Pass program faced several challenges, the first being a steep increase in cost, originally proposed to be $30.00 per term in the first year of a new contract. SAMU President Jed Johns worked in collaboration with other students’ unions and associations in the city to negotiate a fair price for the new four-year contract. These efforts were successful, resulting in this increase being spread out over four years. Students found this to be an acceptable increase and voted in favour of adopting the new contract. !!Valentine’s Day Singing Telegrams !For Valentine’s Day, staff and faculty at the Centre for the Arts and Communications were able to purchase a unique valentine for their significant other. Students had the opportunity to give their valentine a singing telegram in collaboration with the music students on campus. SAMU raised money for Adopt-A-Family and the music students enjoyed

!!!!!showcasing their writing and vocal abilities. !!Working for the Greater Good !South Campus stepped their game up when it came to social wellness. Over 100 hampers were distributed to students in need through the Student Food Bank program. 570 bras were collected to raise money for Breast Cancer Research during the citywide Bras Across the Bridge campaign. Additionally, eight free breakfasts were held over the course of the fall and winter semesters that served to feed nutritious meals to approximately 400 students.

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!!!!With 3328.5 hours of time donated, over 166 dedicated SAMU volunteers and staff helped to deliver programs and services that cater directly to the diverse student population at MacEwan University. !!Academic Appeals and Advocacy !Students are in university to learn and grow and sometime are concerned about the quality of education they receive. When students have questions about grading and assessment, SAMU is available to provide assistance. We can help students navigate the university’s appeals process. !!Breakfast Club !To ensure students have the nourishment they need to start their day, SAMU’s Breakfast Club offers a healthy breakfast for participating students. Held in the SAMU Students’ Lounge, Breakfast Club is a free service, piloting in Fall 2013, that not only provides students with a tasty meal, but also creates opportunities for networking and community building. Research for this program began in 2012-13 and will continue. !!Clubs !Housing over 70 clubs, SAMU is committed to helping students connect with their peers through established clubs, or by helping them start a club of their own. Clubs provide a place to

!!!!!explore ideas, advocate for causes, and have fun. !!Emergency Loans !SAMU offers an emergency, no-interest loan to students who are struggling financially and have nowhere else to turn. For single parents, emergency loans can be especially useful as student budgets rarely allow for unexpected costs associated with dependents. !!Global Projects !Global Projects celebrates multiculturalism while raising awareness of global needs, issues, and diversity. It organizes several activities and events that provide MacEwan University students with insight extending past the North American bubble. !!The Gray Gallery !Approved as a one-year pilot project, the Gray Gallery is SAMU’s student art space, named in honour of the late Dorothy Gray. The Gray Gallery acts as a retreat within the university and a space for the appreciation and sharing of student artwork. !!the griff !the griff is SAMU’s student newspaper – made by the students, for the students.

Programs and Services Offered///////////////////////////////////

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!!!!!the griff is distributed to all four campuses and has an audience of roughly 2,500 students. !!Health and Dental Benefits !All full-time SAMU members are covered under the SAMU Health and Dental plan provided by Gallivan and Associates. Full-time SAMU members may opt out if they have alternative coverage. This year, the Benefits Office was relocated to the SAM Centre, making the Health and Dental plan more accessible to students. Steps were also taken to ensure that students could easily find benefits information online. !!International Student Partnership Program !The International Student Partnership Program celebrates growing diversity on campus. It hosts welcome parties and plans social events that allow international students to make friends, feel comfortable, and learn about Canadian culture. !!Peer Tutoring !The Peer Tutoring program at Alberta College Campus unites students with the aims of improving their grades and providing learning opportunities outside of the classroom. !!

!!!!!Peer Support !Peer Support is a confidential, peer-to-peer counselling service. Here, students can talk about their troubles in a safe environment and access health resources from across the city, free feminine hygiene products, free pregnancy tests, and free condoms. !!Safe Walk !SAMU Safe Walk is a volunteer-based service that assists students walking to their car, bus stop, or LRT station, after dark. Working closely with MacEwan University's security, Safe Walk also works to reduce risk and empower students through self-defence programming. !!SAM Centre !The SAM Centre is your hub for all SAMU gear, discounted tickets, and printing services. Located right by the City Centre Campus cafeteria, the SAM Centre also sells student-made giftware, music, and art. !!SAMU Marketplace !The SAMU Marketplace site was built to assist students in buying and selling used textbooks and in contacting student tutors for specific subjects. It is a safe site for the MacEwan University community and is consistently monitored by SAMU.

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!!!!!Social Wellness !The Social Wellness program aims to create a healthy campus culture that educates, motivates, and empowers students to adopt and maintain a healthy lifestyle. !!Student Food Bank !The Student Food Bank helps subsidize the cost of groceries by providing students with food hampers and gift cards in times of need. Students participate by donating to the Student Food Bank, volunteering, or accessing the Food Bank themselves. This service is confidential. !!Sustainability !Under the vision of Dr. Grant MacEwan, SAMU is committed to doing real work for the environment through awareness campaigns, speakers, and activities. !!U-Pass !Voted for by students, the U-Pass is a mandatory service that provides each full- time SAMU member with discounted public transportation from September until April. The U-Pass offers students access to all Edmonton Transit System services, as well as St. Albert Transit and Strathcona County Transit.

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166 People Volunteered

3328.5 Hours of Their Time to

Our Programs and Services

!!!!Banner Night is an annual awards night to celebrate and honour outstanding members of the SAMU community. This year’s event was held at the Sutton Place Hotel with a theme of “old Hollywood”. Selection criteria for each award may be found in the Awards procedure. !!Campus Champion !Trina Halloway, Alberta College Campus !Mike James, Centre for the Arts and Communications !Courtney Cliff, City Centre Campus !Scott Ariza, South Campus !!Club of the Year !Enactus !!Dorothy Gray Award !Brenda Barrett !!ERBS Students’ Association Outstanding Volunteer !Hanna Dyckerhoff !!Student of the Year !Jamie Hoffman !!Employee of the Year !Tosheena Thompson !!Laurence Décore Award !Chris Bacon !Courtney Cliff !Ellisha Sharma !Samantha Sperber

!!!!!!!Dan St. Pierre !Josh Stock !!New Club of the Year !League of Legends !!Outstanding Contribution to Events Award !Steven He!!Outstanding Contribution to Food Bank Award !Linda Tang !!Outstanding Contribution to ISPP Award !Justine Werklund !!Outstanding Contribution to Peer Support Award !Brendan Bischoff !!Outstanding Contribution to Safe Walk Award !Denver Poburan !!Spirit of MacEwan University !Kunjan Amin !!Students’ Councilor of the Year !Rebecca Taylor !!the griff Writer of the Year !Jibril Yassin !!Volunteer of the Year !Courtney Cliff

Banner Night Award Winners///////////////////////////////////

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Students' Association ofGrant MacEwan University

Financial StatementsJune 30, 2013

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Management's Responsibility

To the Members of the Students' Association of Grant MacEwan University:

Management is responsible for the preparation and presentation of the accompanying financial statements, including responsibility forsignificant accounting judgments and estimates in accordance with Canadian accounting standards for not-for-profit organizations andensuring that all information in the annual report is consistent with the statements. This responsibility includes selecting appropriateaccounting principles and methods, and making decisions affecting the measurement of transactions in which objective judgment isrequired.

In discharging its responsibilities for the integrity and fairness of the financial statements, management designs and maintains thenecessary accounting systems and related internal controls to provide reasonable assurance that transactions are authorized, assetsare safeguarded and financial records are properly maintained to provide reliable information for the preparation of financial statements.

The Executive Committee is composed primarily of Councillors who are neither management nor employees of the Association. TheCommittee is responsible for overseeing management in the performance of its financial reporting responsibilities, and for approving thefinancial information included in the annual report. The Committee fulfils these responsibilities by reviewing the financial informationprepared by management and discussing relevant matters with management and external auditors. The Committee is also responsiblefor recommending the appointment of the Association's external auditors.

MNP LLP is appointed by the members to audit the financial statements and report directly to them; their report follows. The externalauditors have full and free access to, and meet periodically and separately with, both the Committee and management to discuss theiraudit findings.

December 12, 2013

Signed "Jodi Campbell"____ Signed "Kausar Khanduker"______General Manager Director of Finance and Operations

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Independent Auditors’ Report

To the Members of the Students' Association of Grant MacEwan University:

We have audited the accompanying financial statements of the Students' Association of Grant MacEwan University, which comprisethe statements of financial position as at June 30, 2013, June 30, 2012 and July 1, 2011 and the statements of operations, changes innet assets and cash flows and related schedules for the years ended June 30, 2013 and June 30, 2012, and a summary of significantaccounting policies and other explanatory information.

Management’s Responsibility for the Financial StatementsManagement is responsible for the preparation and fair presentation of these financial statements in accordance with Canadianaccounting standards for not-for-profit organizations, and for such internal control as management determines is necessary to enablethe preparation of financial statements that are free from material misstatement, whether due to fraud or error.

Auditors' ResponsibilityOur responsibility is to express an opinion on these financial statements based on our audits. We conducted our audits in accordancewith Canadian generally accepted auditing standards. Those standards require that we comply with ethical requirements and plan andperform the audits to obtain reasonable assurance about whether the financial statements are free from material misstatement.

An audit involves performing procedures to obtain audit evidence about the amounts and disclosures in the financial statements. Theprocedures selected depend on the auditors’ judgment, including the assessment of the risks of material misstatement of the financialstatements, whether due to fraud or error. In making those risk assessments, the auditor considers internal control relevant to theentity’s preparation and fair presentation of the financial statements in order to design audit procedures that are appropriate in thecircumstances, but not for the purpose of expressing an opinion on the effectiveness of the entity’s internal control. An audit alsoincludes evaluating the appropriateness of accounting policies used and the reasonableness of accounting estimates made bymanagement, as well as evaluating the overall presentation of the financial statements.

We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion.

OpinionIn our opinion, the financial statements present fairly, in all material respects, the financial position of the the Students' Association ofGrant MacEwan University as at June 30, 2013, June 30, 2012 and July 1, 2011 and the results of its operations and its cash flows forthe years ended June 30, 2013 and June 30, 2012 in accordance with Canadian accounting standards for not-for-profit organizations.

Edmonton, Alberta

December 12, 2013 Chartered Accountants

Suite 400, 10104 - 103 Avenue NW, Edmonton, Alberta, T5J 0H8, Phone: (780) 451-4406, 1 (800) 661-7778

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Students' Association ofGrant MacEwan UniversityStatement of Financial Position

As at June 30, 2013

July 12013 2012 2011

(Restated -Note 11)

(Restated -Note 11)

AssetsCurrent

Cash (Note 4) 439,458 122,973 193,029Marketable securities (Note 4) 6,275,201 5,046,230 3,885,941Accounts receivable 90,209 213,767 103,881Inventory 62,975 20,340 42,127Prepaid expenses and deposits 38,539 23,063 30,677

6,906,382 5,426,373 4,255,655

Capital assets (Note 5) 199,717 272,722 338,414

7,106,099 5,699,095 4,594,069

LiabilitiesCurrent

Accounts payable and accruals 247,792 190,391 169,467Deferred revenue (Note 6) 647,113 623,506 406,106Health and dental reserves 826,074 642,303 953,494Trust liabilities (Note 12) 81,626 40,460 58,868

1,802,605 1,496,660 1,587,935

Net AssetsInvested in capital assets 199,717 272,722 338,414Internally restricted - Building Fund (Note 7) 4,522,409 3,585,508 2,685,354Internally restricted - Contingency Reserve Fund (Note 7) 525,997 361,839 -Unrestricted 55,371 (17,634) (17,634)

5,303,494 4,202,435 3,006,134

7,106,099 5,699,095 4,594,069

Approved on behalf of the Executive Committee

Signed "Cam McCoy" Signed "Josh Stock"President Vice President

Operations and Finance

The accompanying notes are an integral part of these financial statements

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Statement of Changes in Net AssetsFor the year ended June 30, 2013

Invested incapital assets

BuildingFund

Contingencyreserve Fund

Unrestricted 2013 2012

(Restated -Note 11)

Net assets beginning ofyear, as previously stated

272,722 3,639,454 361,839 (17,634) 4,256,381 3,038,478

Correction of an error(Note 11)

- (53,946) - - (53,946) (32,344)

Net assets, beginning ofyear, as restated

272,722 3,585,508 361,839 (17,634) 4,202,435 3,006,134

Excess of revenue overexpenses

(117,512) - - 1,218,571 1,101,059 1,196,301

Purchase of capitalassets

44,507 - - (44,507) - -

Interfund transfer(Note 7)

- 936,901 164,158 (1,101,059) - -

Net assets, end of year 199,717 4,522,409 525,997 55,371 5,303,494 4,202,435


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Statement of Cash FlowsFor the year ended June 30, 2013

2013 2012(Restated -

Note 11)

Cash provided by (used for) the following activities Operating activities

Excess of revenues over expenses 1,101,059 1,196,301Amortization 117,512 105,437

1,218,571 1,301,738Changes in working capital accounts

Accounts receivable 123,558 (109,886)Inventory (42,635) 21,787Prepaid expenses and deposits (15,476) 7,614Accounts payable and accruals 57,401 20,924Deferred revenue 23,607 217,400Health and dental reserves 183,771 (311,191)Trust liabilities 41,166 (18,408)

1,589,963 1,129,978

Investing activities Purchase of capital assets (44,507) (39,745)Purchases of marketable securities (1,228,971) (1,160,289)

(1,273,478) (1,200,034)

Increase (decrease) in cash resources

316,485 (70,056)

Cash resources, beginning of year 122,973 193,029

Cash resources, end of year 439,458 122,973


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Notes to the Financial StatementsFor the year ended June 30, 2013

1. Nature of operations

The Students’ Association of Grant MacEwan University (the "Association”) is a non-profit organization incorporated underthe Post Secondary Learning Act (Alberta) without share capital. The goals of the Association are to provide opportunitiesthat advance student success through advocacy and support services. The Association is exempt from income taxes. Asthe Association's revenues are derived from the MacEwan University (the "University") student body, it is economicallydependent upon the University.

2. Impact of adopting accounting standards for not-for-profit organizations

These are the Association’s first financial statements prepared in accordance with Canadian accounting standards for not-for-profit organizations (ASNPO). The accounting policies in Note 3 have been applied in preparing the financial statementsfor the year ended June 30, 2013, the comparative information for the year ended June 30, 2012, and the opening ASNPObalance sheet as at July 1, 2011 (the Association’s date of transition to ASNPO).

The transition to ASNPO has not affected the statement of financial position, statement of operations, statement of changesin net assets, or statement of cash flows previously reported under Canadian generally accepted accounting principles(GAAP).

3. Significant accounting policies

The financial statements have been prepared in accordance with Canadian accounting standards for not-for-profitorganizations as issued by the Accounting Standards Board in Canada and include the following significant accountingpolicies:

Revenue recognition

The Association follows the deferral method of accounting for contributions. Restricted contributions are recognized asrevenue in the year in which the related expenses are incurred. Unrestricted contributions are recognized as revenue whenreceived or receivable if the amount to be received can be reasonably estimated and collection is reasonably assured.Student fees collected are recognized evenly over the university year. Fees that relate to the portion of the university yearthat occurs subsequent to the Association's year end are recorded as deferred student fees. Revenue from programs andservices are recognized as services are performed and collection is reasonably assured. Revenue from marketing andcommunications and retail sales are recognized at the time of the sale.

Cash and cash equivalents

Cash includes balances with banks and marketable securities with maturities of three months or less.

Marketable securities

Marketable securities with prices quoted in an active market are measured at fair value while those that are not quoted in anactive market are measured at cost less impairment. Changes in fair value are recorded immediately in the excess ofrevenue over expenses.

Inventory

Inventory is valued at the lower of cost and net realizable value. Cost is determined by the first in, first out method. Netrealizable value is the estimated selling price in the ordinary course of business, less selling costs.

Capital assets

Purchased capital assets are recorded at cost.

Amortization is provided using the straight-line method at rates intended to amortize the cost of assets over their estimateduseful lives.

RateComputer equipment 3 yearsEquipment 5 years

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Health and dental reserves

The health and dental group insurance plan portion of the student fee is accounted for as a liability when it is collected.Fees remitted to the insurer on a monthly basis are recorded as a reduction of the liability. Where student fees collectedexceed monthly premiums paid to the insurer during the year, the surplus is retained as health and dental reserves andused to pay for future deficits that may occur from year to year.

Contributed materials and services

The Association does not record the value of donated items and services, such as the provision of space used by theAssociation's offices, because of the difficulty in determining their fair market value.

Measurement uncertainty

The preparation of financial statements in conformity with Canadian accounting standards for not-for-profit organizationsrequires management to make estimates and assumptions that affect the reported amounts of assets and liabilities anddisclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenueover expenses during the reporting period.

Accounts receivable are stated after evaluation as to their collectability and an appropriate allowance for doubtful accountsis provided where considered necessary. Provisions are made for slow moving and obsolete inventory. Amortization isbased on the estimated useful lives of capital assets.

These estimates and assumptions are reviewed periodically and, as adjustments become necessary they are reported inexcess of revenue over expenses in the periods in which they become known.

4. Restricted cash

The Association holds funds in the amount of $181,546 (2012 - $124,502), the use of which is restricted by various studentclubs or programs. Of this total, $78,249 (2012 - $36,889) is included as part of cash and the remainder is included as partof marketable securities. The use of these funds must be approved by the individual student club or program and meetguidelines established by the individual organization raising the funds, while adhering to the bylaws and policies of theAssociation.

5. Capital assets

2013Accumulated Net book

Cost amortization value

Computer equipment 89,336 64,943 24,393Equipment 580,460 405,136 175,324

669,796 470,079 199,717

2012Accumulated Net book

Cost amortization value

Computer equipment 75,452 50,514 24,938Equipment 549,837 302,053 247,784

625,289 352,567 272,722

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6. Deferred revenue

Deferred revenue consists of the following:2013 2012

(Restated -Note 11)

Student fees 547,193 539,464Student refugee program 40,017 43,616Adopt-a-Family 19,095 14,276Food bank 21,132 12,448MacEwan University Foundation 7,700 2,576Global Education fund 6,009 5,159The Faculty Association of Grant MacEwan University 4,500 4,500The Space Project 1,467 1,467

647,113 623,506

7. Internally restricted net assets

Students' Council Policy 27 requires that a Building Fund be maintained for future capital development of the Association.Specifically, funds are being maintained for the construction of new student association facilities. Association Policyrequires that 10% of student fees, excluding secondary student membership fees, be restricted for the Building Fund eachyear. In addition, any excess revenue over expenses at year end will also be allocated to the Building Fund. Anyexpenditure of funds from the Building Fund must be approved by a Special Resolution of Students' Council, uponrecommendation by the Finance Committee.

Beginning in Fiscal 2012/2013 Students' Council Policy 37 requires that a Contingency Reserve Fund be maintained forfuture operations during periods of financial distress. Association Policy requires that 5% of revenue earned from theStudents' Association fee is allocated to the fund until the maximum is reached and maintained. The maximum amount is25% of the prior year's budgeted operating expenses. If however, the budgeted operating expenses should decrease fromthe prior year, then the maximum amount shall remain unchanged. Contingency Reserve Fund expenditures can only bereleased for use upon unanimous approval from the Executive Committee, along with approval from the Students' Council.If the maximum amount has been reached, any excess shall be allocated to the Building Fund. The Association has electedto allocate $164,158 (2012 - $361,839) to the Contingency Reserve Fund in the current year.

8. Related party transactions

MacEwan University provides substantial office space, janitorial, security and IT services to the Association. These have notbeen included in the financial statements as it is not within the constraints of cost and timeliness to determine the the fairmarket value of these services.

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9. Financial instruments

The Association, as part of its operations, carries a number of financial instruments. It is management's opinion that theAssociation is not exposed to significant interest, currency, credit, liquidity or other price risks arising from these financialinstruments except as otherwise disclosed.

Interest rate risk

Interest rate risk is the risk that the value of a financial instrument might be adversely affected by a change in the interestrates. Changes in market interest rates may have an effect on the cash flows associated with some financial assets andliabilities, known as cash flow risk, and on the fair value of other financial assets or liabilities, known as price risk.

The Association is exposed to interest rate cash flow risk with respect to marketable securities, all of which are invested inmoney market funds. The funds bear interest at rates that fluctuate with market rates.

Credit risk

The Association is exposed to credit risk through its accounts receivable, which is due from Grant MacEwan University,advertising customers, and members of the student body. This credit risk exposure is limited, due to the majority of thereceivables being due from Grant MacEwan University.

10. Comparative figures

Certain comparative figures have been reclassified to conform with current year presentation.

11. Correction of an error

During the year the Association determined that student fee deferred revenue was understated by $53,946 at June 30, 2012and understated by $32,344 at June 30, 2011. The retroactive application of this correction of an error has resulted in anincrease in deferred revenue of $53,946 at June 30, 2012, and increased in deferred revenue of $32,344 at June 30, 2011,and a decrease in student fee revenue of $21,602 for the year ended June 30, 2012.

12. Trust liabilities

Trust liabilities are cash deposits held on behalf of student clubs. These cash receipts are treated as liabilities of theAssociation and are extinguished when cash is used for club purposes.

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Schedule 1 - Schedule of General and Administrative Revenue and ExpensesFor the year ended June 30, 2013

2013 2012(Restated -

Note 11)

RevenueStudent fees 3,275,429 3,030,203Contributions for MacEwan University Foundation 100,000 100,000Interest 79,011 79,625Other 20,051 20,874

3,474,491 3,230,702

ExpensesSalaries and benefits 1,515,355 1,388,652Professional fees 166,102 61,691Donation to MacEwan University Foundation 100,000 100,000Executive projects 35,201 23,230Bad debts (recovery) 34,139 (8,999)Office 33,020 34,646Student governance 31,512 28,362Staff conferences and retreats 24,549 31,219Donations and gifts 15,779 7,614Scholarships 15,441 15,500Students' Council 15,096 27,877Goods and service tax 12,557 9,010Club grants and promotion 9,983 17,020Telephone 9,213 11,251Insurance 9,003 11,531Office leases 5,700 9,260Memberships 5,644 9,931Repairs and maintenance 3,626 142Interest and bank charges 3,105 8,144Travel and parking 2,794 2,644Food and catering 1,929 4,047

2,049,748 1,792,772

Excess of revenue over expenses 1,424,743 1,437,930

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Schedule 2 - Schedule of Programs and Services Revenue and ExpensesFor the year ended June 30, 2013

2013 2012

RevenueStudent refugee 106,136 34,652Global education 34,170 20,295Events 38,787 5,575Event rental space 25,410 14,950Food bank 8,589 -Event sponsorship 2,952 9,000Other 1,638 905Adopt-a-Family 800 1,400Fundraising and sponsorships 659 -Project Hope - 429

219,141 87,206

ExpensesStudent refugee 106,136 34,652Awards night 73,467 73,053Speaker services 58,469 18,177Other programs and services 55,747 43,714Global education 34,170 20,295All campus new programming 19,014 9,216South campus 18,902 20,976Performances 16,313 22,833Volunteer appreciation 14,192 9,967Centre for the arts 10,347 12,409Food bank 8,589 -Events 6,722 -Alberta College 6,409 3,888Adopt a painting 4,165 1,618Coordination training and development 1,474 1,611Supplies 1,121 3,172Adopt-a-Family 800 1,400

436,037 276,981

Deficiency of revenue over expenses (216,896) (189,775)

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Schedule 3 - Schedule of Marketing and Communications Revenue and ExpensesFor the year ended June 30, 2013

2013 2012

Revenuethe griff advertising 49,075 26,341Handbook advertising 37,334 16,735Printing 1,298 34Miscellaneous - 50

87,707 43,160

Expensesthe griff 44,398 33,345Students' Association promotion 33,061 18,902Handbook 29,529 24,547SAMU Designated 11,774 -Plotter supplies 6,568 2,119Consulting 1,650 -Google apps 669 -Equipment and software 656 1,479

128,305 80,392

Deficiency of revenue over expenses (40,598) (37,232)

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Schedule 4 - Schedule of Retail Revenue and ExpensesFor the year ended June 30, 2013

2013 2012

RevenueETS passes 230,787 243,228Other 64,356 43,129Sporting events 46,759 70,830Movie tickets 25,190 26,777Table bookings 20,033 14,186Entertainment passes 7,894 10,413Students' Association wear and promotional items 4,692 4,023Consignment items 960 2,283

400,671 414,869

ExpensesETS passes 252,106 225,314Sport tickets 35,182 42,519Movie tickets 24,323 23,210Prepaid phone card 16,261 13,002Students' Association wear and promotional items 8,068 3,879Entertainment passes 6,418 8,043Merchant fees 4,354 4,571Student price card 2,637 3,517

349,349 324,055

Excess of revenue over expenses 51,322 90,814

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