HSF’s budget of over $10-million for year ended is released

by | Apr 8, 2016 | IGNITE, Life

Corey Brehaut

The Humber Students’ Federation released its budget of over $10-million for 2015-16 at the Annual General Meeting Mar. 30.

The total HSF revenue this past year was $10,313,898 and its total expenses were $10,713,898. This leaves a deficit of exactly $400,000.

HSF’s revenue almost entirely comes from $5,183,648 in student activity fees and $4,805,250 in health and dental fees.

The federation’s largest expenditure by far is services at $5,862,000. This includes part-time staff salaries, student services, health and dental premiums and bursaries.

In a distant second is the administration budget at $1,789,898. This is made of full and part-time staff expenses, full-time salaries, office supplies and infrastructure.

New this year is a $400,000 expense for HSF’s rebranding due to its consolidation with University of Guelph-Humber’s student union, which is equal to the budget’s entire deficit.

“We didn’t want to take $400,000 from our current operating budget and try to do it for our rebranding,” HSF president Ahmed Tahir told Humber Et Cetera in an interview during the campaign.

He said this is so that students still get to keep all of their services rather than cut them in one year or another.

“We don’t think its fair to students. So what we decided was to kind of use some of our unrestricted assets for rebranding.