The FMUA Student Society Fee is the core funding for the organization and its operation. The fee covers staff wages, operating costs of the office, banking, legal and accounting serivices, and the cost of providing services to students.
This fee is used to support student-run clubs registered with the FMUA and FMUA events and co-curricular services such as: FMUA Orientation, Socials, FMUA Course Unions, the FMUA Store, FMUA Café, Mental Health and Wellness services, and the FMUA Study Lounge and Writing Centre.
The FMUA Special Projects Fund funds co-curricular initiatives put forward by the Faculty of Music Undergraduate Association, its membership, and the Faculty of Music.
Example initiatives include the purchasing of equipment used for co-curricular activities, production of co-curricular events, operation of co-curricular services, and funding for co-curricular experiences that directly enhance the experience of Faculty of Music undergraduate students.
The FMUA has the following goals for all projects supported by the FMUA Special Projects Fund:
At the end of each fiscal year, any leftover funds that have not been spent due to lack of qualifying submissions may be transferred to the FMUA Endowment Fund.
Interest earned from the principal is spent using the same criteria as the FMUA Special Projects Fund.
In addition, the principal of the fund can be spent on capital projects such as building renovations and student space construction in the future when the need arises. Such decisions shall be brought forward to the membership at a General Meeting of the Faculty of Music Undergraduate Association.
The goals of the FMUA Endowment Fund are as follows:
At the end of each fiscal year, any leftover funds that have not been spent due to lack of qualifying submissions may be reinvested in the FMUA Endowment Fund.