King's Student Union Budget & financial Reports
Do you want to learn more about KSU’s financial operations and how we spend money? Then you have come to the right place! Here, we will post our yearly budget (the proposed budget, once approved at the Winter General Meeting, and the final budget once approved at the Fall General Meeting), as well as our year end financial reports so that we can provide financial transparency and accountability to students.
Banking
At the 2025 Fall GM, the student body voted to switch from Scotiabank (who we currently use for banking) to the East Coast Credit Union. Reasoning for this change can be found in this memo written by the Finance Vice President.
With the change approved, we will begin the process of switching and make this transition as smooth as possible for societies who have bank accounts (Tier II societies).
Financial Year Ends
Due to delays during COVID and loss of historical knowledge, we are behind on completing our Financial Year Ends. FYEs are completed by accountants and are records of the amount of revenue we had in a given year and how it was spent. It is our utmost priority to get up to date with our FYEs. The 2021 year is currently being finalized and a motion will be brought to the Winter General Meeting to ratify/accept it. Once the 2024 FYE has been completed, we will conduct an audit, which is a more in depth review.