Funding Success for Accounting and Finance Students
If you find yourself in front of a great initiative or are passionate to pursue endeavours that will take your accounting and finance education above and beyond, the Accounting and Finance Endowment Fund (AFEF) is there to help make it possible.
The Accounting and Finance Endowment Fund (AFEF) has been established to support student, faculty, and staff initiatives that complement the student experience in the School of Accounting and Finance.
The objective of AFEF is to better prepare students to face the challenges and responsibilities that they will encounter in their professional careers; and to provide improvements in the quality and the diversity of students’ educational experiences.
Funding balances for the 2016/2017 operating year
Principal (Book value) at April 30, 2016
Available for funding
For the 2016/2017 operating year, the AFEF Board of Directors can approve up to $65,000 in funding for proposals supporting educational initiatives for students in the School of Accounting and Finance.
Additional details on AFEF and its constitution can be found by reviewing the Governing Documents.
Funding policy and funding process
AFEF funding is approved and disbursed based on a proposal submission process. The proposal submission process happens on a per-term basis (three times per annum) in accordance with the diagram outlined below.
As proposals are reviewed each term, proposals must be submitted by the following deadlines:
- Fall 2017 deadline: October 25th, 2017
- Winter 2018 deadline: March 2nd, 2018
- Spring 2018 deadline: TBA
General AFEF Guidelines & Funding Policy
The AFEF Board gives priority to proposals that will have the greatest benefit to the highest number of undergraduate School of Accounting and Finance students at the University of Waterloo over the longest period of time.
Proposals may include (but are not limited to):
- Event sponsorship, such as conferences, speaker/panel sessions
- Equipment purchases
- Publications and student-led initiatives
- Projects with a proven educational benefit
- Conference fees for individual/team conference attendance
AFEF funding will not be provided:
- To cover ongoing operating costs related to a proposal.
- To charitable organizations or for charitable activities.
- For multiple-year commitments. Approved project funding is a one-time allocation.
AFEF funding may be provided:
- To applicants who are affiliated with the School of Accounting and Finance at the University of Waterloo. This criterion includes but may not be limited to current undergraduate or graduate students, faculty or staff.
- Retroactively, so long as the application for reimbursement is submitted within one (1) month of the event or purchase, consistent with policy established by University of Waterloo Department of Finance.
- On a reimbursement basis only.
All applicants acknowledge:
- Consent to allow AFEF to post a summary of their proposal and the disbursed funds in the event that the specific proposal is approved.
- The applicant or a designated representative must attend an AFEF Board meeting if requested to do so 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.
- Funding approvals for equipment or physical asset purchases require that possession of the asset (legal title) will remain with the entity submitting the proposal.
- Any unused funds will revert back to the AFEF and 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 must be responsible for the difference.
AFEF funding will be disbursed directly from University of Waterloo Department of Finance. Parties whose proposal applications are deemed successful will be contacted directly for details regarding the disbursement of funds.
If you have a request for an exception to these guidelines, please contact the AFEF Board of Directors for consideration.
- Use the submit a proposal form on the AFEF website to apply for funding before the term deadline.
- Present the proposal to the AFEF Board.
- Receive confirmation of the proposal outcome from the Board.
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. Every proposal must be presented at this meeting, however a proposer may choose a proxy if they are unable to attend
- All presentations will be kept to a 5 minute maximum. Because of this scheduling, we strongly encourage every proposer to use the following format:
- Briefly explain the proposal, and how it will benefit undergraduate Accounting and Finance students (1 min)
- Describe the following (3 min):
- How many students could benefit and which courses/teams/clubs 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, Faculty, corporate sponsorship) as well as from AFEF.
- For a department proposal, please indicate why the Faculty has not provided funding to cover this item.
- In any time remaining, please mention any long-term impacts of the proposal, significant achievements by your student team, AFEF promotion within your team or department, successful AFEF proposals in the past, etc. (1 min)
- Please note, you will be stopped after 5 minutes, so plan accordingly
- Following the presentation, you may be asked questions by members of the AFEF Board. Please keep your answers brief.
- PowerPoint presentations are the preferred method of visual aids; however, other media such as videos, flash presentations, overheads, or pure verbal presentations are acceptable. Please email any PowerPoint files to the AFEF Director in advance of the presentation to avoid unnecessary delays. The AV equipment in the presentation room will be used (i.e. a Nexus Windows XP Computer).
In the event your proposal is approved to be funded, please take into account the following guidelines:
- AFEF will provide funding on a reimbursement basis. You will disburse funds and request reimbursement for the approved expenses.
- Reimbursement requests should be consolidated to ensure the reimbursement process is efficient for all parties.
- Refer to UWaterloo Finance's reimbursement process for processing timelines and payment methods.
- Complete the AFEF payment request form.
- Contact the AFEF Board of Directors to request Board Chair approval.
- Submit the approved Payment Request Form with all supporting documents to Donna Sutherland in Hagey Hall 3107.
- When the cheque is ready, you will be contacted with the appropriate details.
If you have any questions about the funding policy and funding process, please do not hesitate to contact the AFEF Board of Directors.
AFEF Board of Directors
Coherent with the AFEF Constitution, the Accounting and Finance Endowment Fund is led by a Board of Directors. The Board of Directors consists of:
- Four elected Directors
- The Director (or designate) of the School of Accounting and Finance
- Two School of Accounting and Finance alumni
- The Chair of the Accounting and Finance Student Association
The President of the Accounting and Finance Student Association
Jacqueline Sue is one of the four elected directors and serves as the Chair of the AFEF Board. She is currently in her fourth year of the Accounting and Financial Management program with a goal of pursuing a career in accounting. Outside of campus, Jacqueline enjoys watching/playing basketball, eating all kinds of chicken, and playing boardgames.
Andres Perez-Vilarino is one of the four elected directors and serves as the Treasurer of the AFEF Board. Andres is currently completing his co-op terms and entering fourth year of the Accounting and Financial Management degree with the goal of pursuing a career in accounting. Outside of campus and academic activities, Andres is involved with various non-profits and loves finding new pizza places to eat at.
Jason Leong is one of the two Alumni Directors of the AFEF Board. Jason graduated from the Honours Arts Co-op Accountancy and the Master of Accounting programs at the University of Waterloo. Jason is a CPA, CA currently working as the Vice President of Financial Planning & Analysis (FP&A) and Treasury at MMM Group Limited, a Canadian infrastructure engineering services company. Jason is an avid traveller and global Disney theme park hopper.
Oni Prisecaru is an Alumni Director on the AFEF Board. Oni is currently a Senior Associate at Deloitte Corporate Finance primarily focused on mergers and acquisitions advisory with private companies and an industry focus on technology. Oni attended the University of Waterloo where he graduated from the MAcc and BAFM programs. Outside of work, Oni is very involved at church, is pursuing a Master Degree in theology and loves to spend time with family.
Allen Wang as the President of the Accounting and Finance Student Association (AFSA), represents AFSA on the AFEF Board. Allen is currently working to complete his Accounting and Financial Management degree. Outside of campus and academic activities, Allen loves to hang out with friends and try new things.
The Constitution for the Accounting and Finance Endowment Fund (AFEF) was created with the scope of defining the function, purpose, powers, and general administration for the Fund. The Constitution is a body of fundamental principles or established precedents to which AFEF is governed.
The AFEF Operating Guidelines were created and approved by the AFEF Board of Directors in August 2015 to represent a modus operandi for the Fund.
Any questions or comments regarding these Governing Documents can be directed to the AFEF Board of Directors.
The Accounting and Finance Endowment Fund (AFEF) is a non-profit organization primarily funded through donations from undergraduate students in the School of Accounting and Finance (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.