Guardianship: Difference between revisions
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{{PolicyIcon|Guardianship Policy}} | {{PolicyIcon|Guardianship Policy}} | ||
'''''Guardianship''''' occurs when your liability account falls below 0$. This | '''''Guardianship''''' occurs when your [[liability account]] falls below 0$. This occurs when your net balance in your [[internal account]] at the end of the fiscal year was greater than the money you had available in your [[liability account]] ("your safe"). In short, you withdrew more money than your group had, and are now indebted to the EUS. <br> | ||
If you are placed under Guardianship, your organisation’s [[Financial Officer]] must come up with a plan to get out of your deficit. All [[budget]]s must be reviewed by the EUS [[Finance Director]] and be approved by the EUS [[VP Finance]]. Any expense | |||
If you are placed under Guardianship, your organisation’s [[Financial Officer]] must come up with a plan to get out of your deficit. All [[budget]]s must be reviewed by the EUS [[Finance Director]] and be approved by the EUS [[VP Finance]]. | |||
{{Financebox}} | {{Financebox}} | ||
Revision as of 12:04, 20 September 2018
Guardianship occurs when your liability account falls below 0$. This occurs when your net balance in your internal account at the end of the fiscal year was greater than the money you had available in your liability account ("your safe"). In short, you withdrew more money than your group had, and are now indebted to the EUS.
If you are placed under Guardianship, your organisation’s Financial Officer must come up with a plan to get out of your deficit. All budgets must be reviewed by the EUS Finance Director and be approved by the EUS VP Finance. Any expense