2017-2018: Members pay $700.00 through three (3) fees.
2016-2017: Members paid $900.00 through four (4) fees. The Clubs, Events, and Services Fee expires after this year.
Student Society Fee
The FMUA Student Society Fee is the core funding for the organization and its operation. The fee covers staff wages, operating costs of the office, banking, legal and accounting serivices, and the cost of providing services to students.
FMUA Special Projects Fund
The FMUA Special Projects Fund funds co-curricular initiatives put forward by the Faculty of Music Undergraduate Association, its membership, and the Faculty of Music.
Example initiatives include the purchasing of equipment used for co-curricular activities, production of co-curricular events, operation of co-curricular services, and funding for co-curricular experiences that directly enhance the experience of Faculty of Music undergraduate students.
The FMUA has the following goals for all projects supported by the FMUA Special Projects Fund:
1. That they go above and beyond what is merely necessary for the delivery of a music degree via co-curricular services, events and projects.
2. That they, whenever possible, be for capital and not operating expenditures. Exceptions may be granted for approved projects which are services and require yearly contributions.
3. That the magnitude of the expenditure is proportional to the number of students impacted.
4. That funds be allocated in an equitable but not necessarily equal fashion so that all members may reap the benefits of the fund.
5. That all proposals submitted be made available to the membership for feedback for at least two weeks before approval or rejection and that all approved projects be made available to the membership.
At the end of each fiscal year, any leftover funds that have not been spent due to lack of qualifying submissions may be transferred to the FMUA Endowment Fund.
FMUA Endowment Fund
Interest earned from the principal is spent using the same criteria as the FMUA Special Projects Fund.
In addition, the principal of the fund can be spent on capital projects such as building renovations and student space construction in the future when the need arises. Such decisions shall be brought forward to the membership at a General Meeting of the Faculty of Music Undergraduate Association.
The goals of the FMUA Endowment Fund are as follows:
1. Establish a permanent endowment for the improvement of student facilities and co-curricular services at the Faculty of Music and the operation of the FMUA and its Clubs.
2. In the short term, reduce the cost of the FMUA Special Projects Fund by offsetting it with income from the FMUA Endowment Fund.
3. In the long term, replace the FMUA Special Projects Fund with the associated gains of the Endowment Fund.
4. Create a long-term financial plan for provision of student space within capital projects and renovation of new student space.
5. To solicit matching contributions to the FMUA Endowment Fund from donors and benefactors.
At the end of each fiscal year, any leftover funds that have not been spent due to lack of qualifying submissions may be reinvested in the FMUA Endowment Fund.