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.
For the 2018/2019 operating year, the AFEF Board of Directors can approve up to $80,000 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
*NOTE: AFEF is transitioning to a next term funding basis starting Winter 2019. This means that funding applications proposals submitted this Winter Term should be submitted for Winter 2019 and Spring 2019. Please submit these as separate applications. For more information about these changes, please visit our AFEF Facebook Page.
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 proposals should be submitted one term in advance of the event/initiative it is intended for.
Deadlines
As proposals are reviewed each term, proposals must be submitted by the following deadlines:
- Fall 2018 deadline: Monday, October 22nd, 2018 at 11:59 pm
- Winter 2019 deadline: Thursday, February 28th, 2019 at 11:59 pm
- Spring 2019 deadline: Friday, June 28th, 2019 at 11:59 pm
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.
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.
Application Process
- 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.
Presentation Guidelines
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. If you’re proposal is successful, you will be invited to present on the following dates at a specified time.
- Fall 2018: Saturday, Nov 3rd, 2018
- Winter 2019: Saturday, March 9th, 2019
- Spring 2019: TBD
Every proposal must be presented at this date; 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).
Funding Disbursement
General Guidelines
*NOTE: AFEF will no longer be reimbursing individuals directly. All reimbursements will be made to the specific club or society. Any individual reimbursements should be made through FEDS. Please refer the FEDS Club Manual page 22 for more details.
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.
Reimbursement Process
- Complete the AFEF Reimbursement Package.
- Submit reimbursement package with all physical receipts to FEDS (or your student society who will do it on your behalf) and request an invoice be made to AFEF. Ensure that if a club/society member needs an individual reimbursement, you submit the applicable FEDS cheque request forms along with the AFEF reimbursement package. Keep a photocopy of the package and all receipts for your own records
- Contact the AFEF Board of Directors and let us know that the package has been submitted to FEDs, and send us a photocopy of the package you kept to uwaterlooafef@gmail.com.
- AFEF will review the package to ensure all documents necessary are present
- If there are no issue, AFEF will pay the invoice and the reimbursement will be made directly into the respective FEDS club/society account. FEDS will then make the necessary individual reimbursements
If you have any questions about the funding policy and funding process, please do not hesitate to contact the AFEF Board of Directors.
Our People
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
Jason Li is one of the four elected directors and serves as the chair of the AFEF Board. He is currently in his third year of the Accounting and Financial Management Program. Outside of school, Jason likes watching/playing soccer, and enjoys playing various card and board games.
Derek Wang is one of the four elected directors and serves as the Treasurer of the AFEF Board. Derek is currently working to complete his Accounting and Financial Management degree. Outside of campus and academic activities, Derek loves to go skiing and bouldering.
Szwina Yip is one of the four elected directors and serves as the Secretary of the AFEF Board. She is currently in her third year of the Accounting and Financial Management program. Outside of school, Szwina enjoys reading and eating new foods.
Ivan Yung is one of the four elected directors and serves as the head of Marketing and Promotions. He is currently a third-year student in the Accounting and Financial Management program. During his spare time, Ivan is either spending time with his friends, playing the guitar or surfing the web.
David Ha is the designated representative for the School of Accounting and Finance. David graduated with a Masters of Accounting and a Bachelors of Accounting and Financial Management. After several years of professional practice as a Chartered Professional Accountant, David is now a faculty member in the School of Accounting and Finance and teaches business courses. David enjoys being active, travelling, and hiking.
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.
Rena Ding is the President of the Accounting and Finance Student Association (AFSA), and represents AFSA on the AFEF Board. She is currently in her third year of the Accounting and Financial Management program with a goal of pursuing a career in accounting. Outside of campus and academic activities, Rena loves re-watching her favourite movies, hanging out with friends, and travelling the world.
Brayden Goehner as the Chair of the Accounting and Finance Student Association (AFSA) Board of Directors, represents AFSA on the AFEF Board. Brayden is currently working to complete his Accounting and Financial Management degree. Outside of school, Brayden loves to play tabletop games and is an avid film buff.
