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
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.
As proposals are reviewed each term, proposals must be submitted by the following deadlines:
- Fall 2019 deadline: October 24, 2019
- Winter 2020 deadline: TBD
- Spring 2030 deadline: TBD
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.
- 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. If you’re proposal is successful, you will be invited to present on the following dates at a specified time.
- Fall 2019: TBD
- Winter 2020: TBD
- Spring 2020: 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).
* 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 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: Student Society Clubs(AFSA, ASU, Mathsoc, etc)
- Complete the AFEF Reimbursement Package.
- Send AFEF an email copy of the reimbursement package to email@example.com along with photocopies of all receipts. Ensure you keep all physical receipts for individual reimbursements, which should be submitted through your student society
- AFEF will review the package to ensure all documents necessary are present
- If there are no issue, AFEF will issue a request for an invoice to WUSA for the funding granted
- Upon receipt of the invoice, AFEF will forward the invoice to our financial officer for payment and will email you notifying that the invoice is being processed for payment.
Reimbursement Process: WUSA Clubs
- Complete the AFEF Reimbursement Package.
- For individual reimbursements, complete the WUSA Cheque request form along with submission of related physical receipts.
- Please submit both the physical AFEF package and all cheque request forms to HH 3157, and indicate to the front desk that the package for AFEF. Please keep photocopies of all receipts and forms for your own records.
- 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.
- AFEF will request an invoice for payment, and after submission to our financial officer, will be paid to your WUSA club account. Individual reimbursement cheques will be available when ready at the WUSA office for pickup
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
Matthew Hong 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. When not in school, Matthew enjoys playing hockey, working out, and traveling the world.
Hunter Leung is one of the four elected directors and serves as head of Treasurer of the AFEF Board. He is currently a third-year student in the Accounting and Financial Management program. Hunter is passionate about all kinds of sports, especially playing competitive ice hockey in the winter and fishing in the summer. He has very high expectations for the Toronto Maple Leafs in the upcoming 2019-2020 season.
Stella Li is one of the four elected directors and serves as one of the representatives for Marketing and Outreach. She is currently a third-year student in the Accounting and Financial Management Program. In her spare time, she enjoys singing and playing musical instruments.
Jeremy Mai is one of the four elected directors and serves as one of the representatives for Marketing and Outreach. He is currently a third-year student in the Accounting and Financial Management Program. Jeremy enjoys playings board games and soccer in his free time.
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.
Matthew Cheung is the Chair of the Accounting and Finance Student Association (AFSA) Board of Directors and represents AFSA on the AFEF Board. He is currently in his third year of the Accounting and Financial Management program. Outside of school, Matthew enjoys playing basketball and video games.
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.