You might be wondering what the procedure is for reviewing and processing your fund applications as a CUPE 3903 member! Here it is, step-by-step:
- After you submit an application, the relevant internal fund adjudicating committee meets after the deadline to confidentially adjudicate applications, having signed confidentiality forms that ensure all members’ information stays secure. They decide how much to award each applicant and notify members accordingly.
- This process happens usually shortly after the deadline, but the timeline differs across committees (from a couple weeks to a few months). Processing depends on the volume of applications received and whether all required documentation was submitted.
- Once adjudication is done, committees submit fund requisitions for approved/awarded applications to the Union’s Finance Team (i.e., the Secretary-Treasurer and Financial Coordinator) for payout. The Finance Team will process requisitions in Plooto in batches by fund.
- Processing is usually 2-4 weeks.
- For accountability and to prevent the misuse of Union funds, all payments require approvals from two signing authorities or authorized signers.
- An authorized signer is a person who has been given permission by the account’s owner to access a bank account. For CUPE 3903, the authorized signers are the Chairperson, Recording Secretary, and Secretary-Treasurer. Because we usually process 150+ payments at a time, the signing process can take up to 5 days.
- Once payments are approved, they are ‘scheduled’ in Plooto. Plooto will coordinate debiting our bank accounts, notifying you of the payment, and then depositing the funds in your bank account.
- Want to know more about receiving funds through Plooto? Follow this link!
Questions about this procedure? Contact the Secretary-Treasurer at treasurer@cupe3903.org.