Last Thursday, we erred-somewhat.
In our article (SAC to pay CFS $1m, Nov. 9), which previewed Thursday’s annual general meeting (AGM) of the Students’ Administrative Council (SAC)-the student union representing undergraduates on U of T’s St. George and Mississauga campuses-we reported that SAC members vote on whether to pay back fees owed to the Canadian Federation of Students.
In fact, on Thursday SAC members will be voting whether to receive audited financial statements for the past year, which contain that item as a “theoretical expense” on SAC’s income statement, according to SAC general manager Rick Telfer.
“SAC didn’t previously have the capacity to know what is owed,” he said. Now that the sums have been tallied up, that amounts to $1,085,608.
“Putting it on the books is to properly account for what is owed. Not a cent has been actually allocated to the Federation for those back dues, nor is there any proposal on the table to do so,” Telfer said.
“Has the Federation sent us an overdue notice? No. But does the Federation expect the money at some point in the future? Yes.”
SAC’s annual general meeting is taking place on Thursday, Nov. 16, at 6 p.m., in the Bahen Centre for Information Technology (40 St. George St.)
