Société mathématique du Canada
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Operations Fund

Operations Fund

The Operations Fund has four main divisions:

  • The General Division (GD)
  • The Education Division (ED)
  • The Research Division (RD)
  • The Publishing Division (PD)

Each division records net revenue/expenses for a given fiscal year, which are pooled in a total Net Revenue/Expenses line for the whole Operations Fund. The goal of the Society is a balanced budget in any given fiscal year. When a projected deficit in the Operations Fund is unavoidable, it should not exceed 25% of the surplus in the Operations Fund Balance.

A surplus or deficit in the Operations Fund Balance at the end of the financial period will be carried forward to the next financial year. Any amount in excess of $75,000 (excluding investment in capital assets) in the Operations Fund Balance at the end of the financial period will be transferred to the CMS Contingency Fund as a special contribution. In extraordinary circumstances, and as approved by the Board of Directors, appeal may be made to the CMS Contingency Fund for a contribution to alleviate a deficit in the Operation Fund Balance.

Office Expenses of the Society, including rent, equipment, salaries and the expenses of Staff and Executive members relative to meetings, are shared equally by the four divisions of the Operations Fund.

General Division

The GD receives membership fees, interest revenue from Operations Accounts, and all contributions not specifically earmarked for purposes related to other divisions or funds. Where appropriate it will receive monies from other accounts in recognition of services, such as use of office machines and staff time. It administers any accumulated operating surplus by appropriate short-term investments.

The GD administers the budgets of all standing committees which are not included in the budgets of other accounts.

The GD contains a line item for contingencies, which may be spent on any activity relevant to the Society. The expense is authorized by any two of the President, Treasurer, or Executive Director.

Education Division

The ED receives grants, donations and appropriations from other accounts and funds which are related to the educational activities of the Society.

The ED is responsible for the financing of mathematical competitions such as the Canadian Mathematical Olympiad and the Canadian Open Mathematics Challenge and for other educational projects sponsored by the Society. It is also responsible for the expenses related to selection, training and participation of the Canadian team in the International Mathematical Olympiad.

The ED administers the budgets of the Education Committee and sub-committees as well as the Mathematical Competitions Committee and sub-committees.

Research Division

The RD receives grants, donations and fees relative to meetings of the Society. It pays approved expenses incurred in the program and administration of the meetings, including all approved special sessions.

The RD administers the budget of the Research Committee.

Publications Division

The PD receives subscriptions, royalties, contributions and all other revenues related to publications, including electronic publications. It pays expenses incurred in the publication of the Society's periodicals, and contributes to the support of related enterprizes, such as the CMS electronic services.

The PD is responsible for salaries and other approved expenses of administrative and editorial staff. It administers the budget of the Publications Committee and the Electronic Services Committee.

next up previous
Next: CMS Contingency Fund Up: Terms_of_Reference Previous: Organizational Charts

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