The president of the University of Regina (U of R) told CTV News on Monday he feels the university has a responsibility to ensure that students’ union funds are being spent wisely.
The comments come the week after university administrators opted to terminate a fee collection agreement with the union, commonly known as URSU.
U of R President Jeff Keshen acknowledged that the decision to effectively kneecap the organization elected to represent students’ interests was unfortunate, but he felt he had no choice.
“There was concern that URSU was not going to be able to pay its bills and when the university, through our board of governors collects that money and distributes it to URSU so they can pay those bills and make sure people get their salaries and the dental plan and all student organizations, then it’s our fiduciary responsibility to ensure that our students get the proper representation,” Keshen said.
He hopes that a new fee sharing agreement will be reinstated soon adding the money will then be transferred to an effective student government.
Keshen said that over the past several months the school tried to work with URSU’s leadership and offered financial and governance assistance but the group did not follow its guidance.
The decision will come into effect on Aug. 31.
According to URSU’s audited financial statements for its last fiscal year, the organization accumulated a net asset deficit of more than $1.3 million as of April 30, 2024. URSU’s total revenue for the same fiscal year was more than $8.9 million, according to the audited financial statement. More than $5.4 million of the group’s revenue came from student fees.
The union’s expenses column totalled more than $2 million, including over $540,000 for the board. Operating expenses included more than $1.5 million in salaries and benefits.
URSU said it hopes to negotiate a resolution with the university that restores confidence in the student body.
-With files from David Prisciak
