Accounting and Finance Endowment Fund (AFEF)

Funding Policy

The AFEF Board will evaluate proposals on the criteria that:

• i.e. if the event is in Winter, the proposal should be submitted in the prior Fall term

Examples of what are eligible and non-eligible expenses

Please note that AFEF will be following the University of Waterloo’s policies regarding in-person activities in Fall and only fund initiatives that follow said policies.

If you have any questions about the funding policy, please do not hesitate to contact the AFEF Board of Directors

AFEF funding is approved and disbursed based on a proposal submission process. The proposal submission process happens on a next-term basis (three times per annum) in accordance with the diagram outlined below. All funding proposals should be submitted one term in advance of the event/initiative it is intended for.

1. How to submit a proposal
   1. Refer to the eligibility section for information regarding what should and should not be requested from AFEF.
   2. Use the submit a proposal form on the AFEF website to apply for funding before the term deadline.
2. Presentation Guidelines
   1. Presentations of AFEF funding proposals occur once a term and provide the AFEF Board of Directors with a chance to hear about the advantages of each suggested proposal. Eligible organizations/individuals will be invited to present their proposal at dates/times specified via email after the proposal submission deadlines.
      Every proposal must be presented at this date; however, a proposer may choose a proxy if they are unable to attend.
   2. Tips for success:

      1. All presentations will be kept to a 5 minute maximum with a 5-10 minute Q&A session afterwards, please keep your answers concise

      2. Make sure you describe the following:

         • The proposal, and how it benefits undergraduate SAF students

         • How many students could benefit and which clubs/organizations/courses could realistically benefit from this proposal
         • What other funding sources have you pursued? It is strongly encouraged that proposers DO attempt to obtain funds from other sources (MEF, your Faculty, corporate sponsorships) as well as from AFEF
         • For a department proposal, please indicate why the Faculty has not provided funding to cover this item
      3. Please email any presentation files (PowerPoint or PDF preferred) to the AFEF Director in advance of the presentation to avoid unnecessary delays. All presentations will be presented through Zoom while campus activities are online.
3. Reimbursement Procedures

   1. Please note, AFEF no longer reimburses individuals directly. All reimbursements will be made to the specific club or society.

      In the event your proposal is approved to be funded, please take into account the following guidelines:

      • AFEF provides funding on a reimbursement basis. After your event, you will submit a request reimbursement for the approved expenses
      • Reimbursement requests should be consolidated (only one PDF submission) to ensure that the reimbursement process is efficient for all parties
      • Refer to UWaterloo Finance's reimbursement process for processing timelines and payment methods

      Reimbursement Process: Student Society Clubs (AFSA and AFSA-affiliated clubs, ASU, Matchsoc, etc.)

      1. Complete the AFEF Reimbursement Package
      2. Send AFEF an email 1.copy of the reimbursement package to uwaterlooafef@gmail.com along with copies of all receipts in one PDF file. Ensure you keep all original physical receipts on hand in case requested
      3. AFEF will review the package to ensure all documents necessary are present
      4. If there are no issues, AFEF will issue a request for an invoice to WUSA for the funding granted
      5. Upon receipt of the invoice, AFEF will forward WUSA's invoice to SAF's financial officer for payment and will email you notifying that the invoice is being processed for payment

      Reimbursement Process: WUSA Clubs

      1. Complete the AFEF Reimbursement Package
      2. Complete the WUSA Cheque request form along with the submission of any related receipts. Ensure you keep all original physical receipts on hand in case requested
      3. Please email both the physical AFEF package and all cheque request forms to AFEF. Please keep photocopies of all receipts and forms for your own records
      4. AFEF will review the package to ensure all documents necessary are present and will submit the package to WUSA if the package is approved. AFEF will send you an email to notify you as well
      5. AFEF will request an invoice from WUSA, and after submission to SAF's financial officer, you will be paid to your WUSA club account. Individual reimbursement cheques will be available when ready and mailed to the individual
      6. If you have any questions about the funding policy and funding process, please do not hesitate to contact the AFEF Board of Directors

      All applicants acknowledge:

      • Consent to allow AFEF to post a summary of their proposal and initiative in the event that the specific proposal is approved
      • The applicant or a designated representative must attend an AFEF Board meeting to address questions about the proposal
      • A complete, formal estimate of costs associated with your project is required with your submission. This may include invoices, on-line quotes, or estimates
      • Funding decisions made by the AFEF Board of Directors are final. The AFEF Board provides acceptance communication confirming the extent of funding for successful applicants
      • Any unused funds not claimed during the reimbursement process may not be carried over to another initiative or operating period
      • If the cost of your project is higher than you expect, you or your group are responsible for the difference

Here are just a few examples of the amazing student initiatives supported by AFEF that can serve as an example of successful proposals and pitches.

	With AFEF’s funding, we were able to give back to the volunteer mentors who played a major role in this year’s tax clinic. Waterloo’s first-ever virtual tax clinic would not have been successful without the consistent support of 66 volunteer mentors who shared their time and expertise to mentor filers and file complex tax returns. Only with AFEF’s funding, we were able to reward the volunteer mentors for their hard work with gift cards to make our volunteers feel valued and appreciated.
	AFEF’s funding helped UWAC acquire these experienced SAF students and full-time accounting professionals by compensating them for their time, therefore encouraging them to participate in our events. This allowed UWAC to improve the quality of our events. As a result, UWAC fostered the development of current SAF students by providing them with valuable information and personalized advice.
	AFEF’s funding is used to support the series of events held during the orientation week to welcome incoming students who will be joining the School of Accounting and Finance (SAF) in the upcoming fall term. Specifically, funding is used to help encourage first years to sign up and engage in a variety of activities and events, while meeting their peers and making meaningful connections. This allows us to welcome incoming students and help them transition into university life even before AFOW officially starts.

AFEF is a non-profit organization primarily funded through donations from undergraduate students in SAF. Interest earned on the principal of this Fund is used to support various projects that enrich the educational experiences of SAF students at the University of Waterloo. 

If you would like to make a donation to contribute to the growth of the Fund to support SAF students, please contact Associate Director of Advancement, Sheilaah Guthrie.