AIESEC-MADISON Compendium

Transcription

1 AIESEC-MADISON Compendium Contents Article I Identity Article II Entities of AIESEC Madison Article III Elections and Governance Article IV Meetings Article V External Exchange Article VI Financial Structures Appendix I AIESEC Bux Appendix II Chain of Command Mandates ARTICLE I - IDENTITY 1. This section outlines the nature and purpose of the corporation Name The entity of the corporation called, AIESEC United States, Inc. that is also a Registered Student Organization at the University of Wisconsin-Madison (hereafter referred to as the University). This entity is the Local Community (hereafter referred to as the LC ) Definition The Corporation is a 501(c)(3) not-for-profit organization and is the United States affiliate of AIESEC The AIESEC Way What is AIESEC?: AIESEC is a global, non-political, independent, not-forprofit organization run by students and recent graduates of institutions of higher education. Its members are interested in world issues, leadership and management. Student organizations that select their members or officers on the basis of commitment to a set of beliefs (e.g., religious or political beliefs) may limit membership, officer positions, or participation in the organization to students who affirm that they support the organization s goals and agree with its beliefs, so long as no student is excluded from membership, officer positions, or participation on the basis of his or her race, color, creed other than commitment to the beliefs of the organization, religion, national origin, disability, ancestry, age, sexual orientation, pregnancy, marital status or parental status, or, unless exempt under Title IX, sex.

2 What we envision: Peace and fulfillment of humankind's potential Our impact: Our international platform enables young people to explore and develop their leadership potential for them to have a positive impact in society The way we do it: AIESEC provides its members with an integrated development experience comprised of leadership opportunities, international internships and participation in a global learning environment Our Values: Activating Leadership: we lead by example and inspire leadership through actions and results. We take full responsibility for developing the potential of other people Enjoying Participation: we have a dynamic environment created by active and enthusiastic involvement of individuals. We enjoy being involved in AIESEC Striving for Excellence: we aim to deliver the highest quality of performance in everything we do. Through creativity and innovation we seek to continuously improve our results Living Diversity: we seek to learn from the different ways of life and opinions represented in our multicultural environment. We respect and actively encourage the contribution of every individual Acting Sustainably: we act in a way that is sustainable for our organization and society. Our decisions take into account the needs of future generations Demonstrating Integrity: we are consistent and transparent in our decisions and actions. We fulfill our commitments and conduct ourselves in a way that is true to our ideals. ARTICLE II ENTITIES OF AIESEC MADISON 2. This section outlines the different entities that make up AIESEC-MADISON and their functions Functional Teams All functional teams must have: Work that contributes towards AIESEC exchange A VP that is part of the EB The functions consist of: BD The main responsibilities are: a. Raising TNs b. Forming and maintaining partnerships with companies and NGOs c. Delivering on TN contracts Finance The main responsibilities are: a. Accounting and budgeting b. Writing grants c. Making sure the LC is financially sustainable Communications The main responsibilities are:

3 a. Manage the web presence of AIESEC-Madison. b. Help facilitate the marketing for events. c. Enhance the communications within our LC. d. Keep information related to AIESEC Madison and our stakeholders secure The VP COMM sets security expectations for the other functional teams at the beginning of the term. These expectations can be overruled by the current LCP Any promotional material that is not internal must first be approved of by the VP Comm or Coordinator before being released or viewed by externals OGX The main responsibilities are: a. Raising EPs b. Induction for EPs c. Matching for EPs d. Outgoing Preparation for EPs e. Tracking of EPs (throughout TN duration) f. Reintegration of EPs TM The main responsibilities are: a. Recruiting and inducting general members, which includes the first round member selection and interview process. b. Tracking and developing all members c. Consulting the other 5 functions in both HR and functional topics by giving feedback to VP that was collected by assigned TM director. Feedback is given during a monthly required meeting between VP and assigned TM Director External Relations The main responsibilities are a. Pursue ongoing personal relationships with the University of Wisconsin- Madison, AIESEC-Madison alumni, and the greater community. b. Host events which help facilitate relations among externals. c. Compile the newsletter and other updates about AIESEC-Madison for our stakeholders. d. Forming and maintaining partnerships with campus and business organizations e. Help coordinate external marketing efforts for LC activities f. Provide exposure of AIESEC Madison s operations for the membership of the engagement pool and increase the pool s valuable experience University Relations will manage the hosting and attending of campus events, campus newsletter, OGX recruitment, and create partnerships with campus organizations

4 Stakeholder Relations will manage the hosting and attendance of business networking events, stakeholder newsletters, assist ICX in TN raising, and making lasting business sponsorships 2.2. Leadership Team The Leadership Team is the ultimate decision-making body for the organization Working groups are formed around specific problems/ trends facing the organization and subsequent proposals for solutions are drawn up It is the responsibility of The Leadership Team to review and make a decision on the proposals of the various working groups The LCP, LCPe, VPs, VPes, Coordinators, and TM directors are required to be on the Leadership Team during the duration of their term Any member with at least one semester of experience is invited to join the Leadership Team Board of Advisors The Board of Advisors (hereafter referred to as BoA ) is an external advisory body, which provides supplemental guidance and support to the organization BoA meetings will be held twice each semester BoA meeting dates must be set up at least six weeks prior to the date of the meeting, and tentative dates for all the meetings during the calendar year must be set during the Q1 board meeting School of Business The University of Wisconsin School of Business is the external body to which AIESEC- Madison is registered, and to whose general student organization rules AIESEC-Madison must adhere. ARTICLE III ELECTIONS AND GOVERNANCE 3. This section outlines how the LC shall be elected and governed Standing Orders of the LTM Chair The LCP shall act as the Chair of the LTM. In his/her absence, the chain of command shall be followed until a replacement is found If the Chair is affected by or interested in any motion, the members may propose, second and vote for the Chairperson to be replaced during the discussion of that motion. If the motion is carried, the next in the chain of command shall temporarily conduct the meeting The Chair shall be the sole interpreter of the Standing Orders The Chair shall neither vote nor take part in the discussion of the meeting Roll Call A Roll Call must be taken at the commencement of legislation meetings of LTM In order to proceed with the meeting quorum of 50% + 1 of the LTM must be present Should a member subsequently join/leave the session, they must inform the Secretary of their presence/absence and this must be recorded in the minutes.

5 At the state of the first session, the Chair shall inform delegates of these procedures Voting Voting rights are given only to leadership roles (representing their team) who have attended all LTMs during the current semester or have sent a proxy in their place If a proxy has been send to previous LTMs, the same proxy must attend and vote during legislation, otherwise the voting member shall count as being absent General members may attend LTM and have input on legislation, however, they do not have voting rights To abstain from voting is the equivalent of a null vote of the issue being voted on The Executive Board shall be the final interpreter of the provisions of the Compendium apart from Standing Orders Any decision by the Chair can be overturned by a 75% majority vote of the Voting Body Absentee voting at all LTMs shall be permitted If a member present leaves during the course of such a meeting, he or she must submit to the Chair in writing his or her absentee vote on the issue presented In the event that an LTM member is unable to attend a legislative meeting they may appoint a proxy Proxies must meet the following criteria: Must be a general member The status of a proxy must be approved and ratified by the Chair In voting, all motions must be passed with 75% of agreement Representation Leadership Team Members and the LCP must be allowed to attend and speak at all sessions of the LTM Anyone present at the LTM is subject to removal by 75% majority vote from the Leadership Team Anyone subject to removal is not allowed to vote Motions and Mandates No motion or mandate shall be open for discussion until it has been proposed and seconded. However, the proposer shall have the right to speak on a motion or mandate in order to find a seconder Motions and mandates directly affecting the operation of, or rules of a meeting already in progress must take precedence over all other motions and must be considered immediately after all business on the motion in progress is complete The following forms of legislation shall be allowed at legislation meetings Motions - which remain indefinitely in the Compendium unless amended or withdrawn by subsequent legislative meetings Specified Time Motions which are binding for the time stated in

6 the motion, and then automatically taken off the compendium after that time Mandates to a recognized entity of the LC binding for a specified period of time, to perform a function outside the ordinary course of duty Voting members shall have the right to propose or second motions, mandates and amendments All motions/mandates become effective the day after the closing of the LTM as long as no other date is explicitly mentioned in the motion/mandate Amendments No amendment shall be moved which, by the Chairperson's ruling, rescinds, negates or destroys the original motion No other amendment shall be moved until the first amendment has been ratified or removed If an amendment is rejected, other amendments may be moved on the original motion. If an amendment is carried, the motion as amended shall become the motion and shall be the question to which any further discussion may be moved or upon which the final vote is taken The proposer and seconder of the motion, but not amendment, shall have the right to reply directly before a vote is taken on the amendment An Amendment shall be added if the original proposer and the seconder agree to it Order of Precedence That the Chairperson shall allow the following procedural motions to be implemented when there is already a proposition on the floor, in the following order of precedence: That the motion now be put to a vote If the motion "That the motion now be put to a vote" has been seconded, no further discussion of the original question shall be allowed but a member may give notice of his/her desire to speak further on the original question. If the motion is carried, only the proposer of the original question under discussion shall be allowed to speak before the original question is put to the vote The proposer shall be allowed to sum up the issue before the original motion is put to a vote If the vote on put to vote does not exceed 75% agreement, then no LTM member is allowed to put to vote the same motion for the next twenty minute period A motion to limit the debate to a specified time period. The Chair of the LTM then decides how much time is allotted for the remainder of the discussion That a matter lies on the table A motion of no confidence in the Chair A motion to adjourn the meeting to a later specified date Points of Order

7 In addition to discussion on a motion, the Chair shall allow the following points in order of precedence: Point of Order Point of Information Conduct of the Debate No members may speak until recognized by the chair All discussion must be relevant to the immediately pending question No member may speak a second time until every member who wishes to speak has had the opportunity to do so No member can speak more than twice to each motion No member can speak more than five minutes at a time Every member must address himself or herself solely to the Chair The Chair shall have the right to make a speakers list and close it according to his/her discretion The Chair shall have the right to allot additional time to any given speaker When possible, the chair should let the floor alternate between those speaking in support and those speaking in opposition to the motion Rules of debate can be changed by a 75% majority vote Rules unspecified in compendium The rules contained in the current edition of Websters New World Robert's Rules of Order shall govern the LTM in all cases to which other rules or procedures in the compendium does not specify or have clarity on. Process for Leadership Elections decided by the LC 3.2. MCP Elections Refer to MCP Elections in the most current Comendium of AIESEC United States If the delegates from the LC at the Winter National Conference (Hereafter, referred to as WNC ) minus the LCP or their proxy, reach consensus by signing a paper on how they agree to vote, then the LCP is obligated to cast the ballot the same manner If the delegates from the LC at the WC do not reach a Consensus, the LCP must sum up the points given by each delegate to determine how many points each candidate receives The LCP is allowed to award different ranking to the candidates on the official ballot only if the difference in the sum of point given by the LC delegates is less than Consequences for not following the procedure will be determined at the following LTM 3.3. LCP Elections Applications must be opened before the beginning of the University s Fall Semester Applications are due October 1st Applications must be published on Podio and sent out to all the active LC members by October 2 nd The LCP Election must occur in October, with the hopes of holding elections as early as possible.

8 At election time, candidates and voting members shall be expected to undertake the following procedure: The LCP shall act as the chair of LCP Election. In his/her absence, the chain of command shall be followed until a replacement is found The chair is responsible for making sure that all of Article 3.3 is followed Consequences for not following the procedure will be determined at the following LTM Only one candidate may be in the same room during the following tasks. The Chair may allow the plenary to split into separate rooms if there is a time constraint. All tasks must be done with the following procedure: Each candidate will enter the plenary and give a speech lasting a maximum of ten minutes Each candidate will take part in a thirty-minute question and answer session. The question and answer session must follow the procedure: No question can take longer than one minute to ask No answer can last over five minutes The LCP voting process will take place be according to the AIESEC US compendium If there is only one application for the LCP position, then they must receive more than 50% of confidence vote Members who are eligible to vote are active members that have been in AIESEC Madison for at least one semester 3.4. Process for LC VP Elections All VPs terms start and finish at the same time as the LCP s term The applications for LC VP positions must be posted seven weeks prior to the end of the semester on the LC weekly newsletter The applications are due five weeks prior to the end of the semester An Advisory Committee, consisting of the LCP, LCP elect (if applicable), current LC VPs, will share their opinions on the LC VP elects. The final choice is given to the LCP elect The Advisory Committees must notify applicants of the election results three weeks prior to the end of the semester The official Executive Board term last from January 1 st until the last day of the year of their term Process to fill Coordinator positions Process to fill Coordinator positions will be left up to the current VP and the incoming VP elect, if applicable 3.6. Process to join the Leadership Team The following positions are considered to be part of the Leadership Team: LCP, LCPe, LC VP, or Coordinator Any member who has been an LC Member eight weeks is allowed to join the Leadership Team Process for Replacement/Removal of Leadership Positions decided by the LC If in the event that a general member, any active member of the LC that

9 meets all membership criteria, does not feel confident in either an LCP, an LC VP, a Leadership Team Member or a Coordinator, they must submit a letter of no confidence to the EB within the current semester The EB will then discuss the proposed letter of no confidence at the next EB meeting following the letter s submission The person in question must not be present during this discussion The individual being questioned reserved the right to request a meeting with the EB and the EB can also request a meeting with the questioned individual A meeting of this nature must take place within two weeks of the letter s submission The EB will then vote to either remove the individual from their leadership position or allow the individual to continue on in their position. The person being questioned is not allowed to vote. This vote must take place within three weeks of the letter s submission The EB must reach a 75% consensus in their decision of removal or continuation of the questioned individual If the person in question is currently on the EB, they are not included in the consensus LCP shall be granted the right to remove an underperforming EB member without the process LC Membership Criteria Full Member Status In order to retain full member status, an LC member must remain under two points Points are allocated according to the Point System in NFT Definition: members who are completing AIESEC work, but who are not on a team or hold a leadership position Criteria: Must be approved by EB at the beginning of a semester Must follow up regularly with either LCP or someone else if agreed by LCP Examples: OCP of a conference, setting up a project team, and anything else deemed appropriate by the EB Must report to VP of Talent Management Point System Everyone is accountable to the point system, both leadership and general members. Once someone has been allotted 2 points, their membership status will be discussed with the functional VP and the VPTM Members with two or more points will be given a warning and an AIESEC assignment/work. If the member does not complete this assignment, it is up to the executive board s discretion whether or not to retain the member in AIESEC. Radoslav Radinov 7/18/12 10:15 PM Comment [1]: here

10 Points are allotted as follows: What absences warrant points: Excused Absences from GMM's/ required functional training allot 1 point Other mandatory/significant meetings and/or events allot 1 point Members must arrive to all Wednesday meetings on time. Members will be allotted a 15 minutes grace period. If not on time, TM members (who are already responsible for attendance) must count as an unexcused absence. Policy applies to all members of AIESEC Madison. VPTM is responsible for keeping everyone accountable Absences that do not warrant a point (all except emergencies require prior notification to VPTM): An exam during the meeting Any extenuating circumstances are left to the discretion of the VP TM Team Assessment Points: What does warrant a point: Failure to reach minimum requirement for AIESEC work in respective member's team (equivalent to an average of 2 hours per 2 weeks minimum) What does not warrant a point: Emergencies, which also apply to GMMs An exam during the meeting Consequences for missing functional team meetings are left up to the discretion of the functional VP AIESEC member: Strives to gain the exchange experience as well as leadership development Has an indirect impact on the community Replacement of a Leadership Position Team assessments for the VPs, Coordinators, and TM members are done by the LCP and VPs, respectively The process to find the replacement will be similar to the normal process, however the duration may be shortened according to the specific situation Process to rejoin AIESEC if previously left on good terms Members interested in rejoining AIESEC must meet with the executive board to demonstrate their commitment Members are eligible to apply for a semester break after he/she completes a full semester of AIESEC work To go on a break the member must: a. Make a proposal for why the member is leaving

11 b. Speak with the VPTM about the proposal To come back from a break the member must: a. Inform the VPTM b If an LC member quits and would like to rejoin the LC, the member must: a. Inform the EB b. Complete an application c. Interview with the EB d. If accepted, member will be on Member on Alert status Board of Advisors BoA Terms New BoA member term shall last one year. All BoA term after the first year should last three years All BoA terms shall be staggered so that every year one third of the BoA terms shall end Criteria for BoA members: Must know and believe in AIESEC s mission Must commit one hour a month to AIESEC Must attend at least two BoA meetings a year Process for accepting members to the BoA: A new candidate to the BoA must submit the following: a. A resume of the candidate A one-page recommendation from a current member or alumni of AIESEC To renew a Board member s commitment to another three year term for the BoA, the Board member must submit the following: A one-page note on why the member wants to stay on the Board that is signed by the LCP To accept or reject a proposed candidate to the BoA, the BoA must reach consensus Alumni cannot make up more than 75% of the BoA Process for removal from the BoA: The EB must submit a one-page report on why the BoA should be removed signed by all the EB members The BoA, minus the candidate up for removal, must reach consensus to remove the candidate from the BoA BoA Chair Criteria: Must either be a current BoA member or have served a full BoA term in the past Must be able to commit two hours a month to the position for two years from the end of the University s fall semester of which the BoA-elect was selected Process for removal: The removal of a BoA Chair must be approved by 75%

12 of the executive board and current BoA. ARTICLE IV - MEETINGS 4 This section outlines the meeting structure of AIESEC-Madison. 4.1 Local Committee Meeting must be held at least twice per month Purpose: provides a venue for team updates, building a personal connection with the AIESEC mission, learning about opportunities available, attaining useful professional skills, and maintaining a network among the LC members. All members required to attend A portion of each LCM is used for soft skill training that the leadership team has deemed necessary and relevant to that weeks focus and is organized by TM Listserv Guidelines: Only s directly related to AIESEC should be included on the listserv; no inappropriate or extraneous s All announcements should be made in the weekly update if possible If the weekly update has already been sent and it is not possible to wait until the next week, an individual announcement is permitted. 4.2 Functional Trainings must be held at least once per month Purpose: to provide trainings related to different functional teams. To empower the members with the knowledge they need for future development. Trainings may be made mandatory by the executive board members Delegate Profile: All members of the organization are required to attend Functional Team Meeting- time of meeting is left to the discretion of the Vice President and Coordinators Purpose: To make progress in achieving the objective of the functional team Delegate Profile: Members must attend any required meetings of the team to which they are held accountable Executive Board Meeting - must meet 1 time per week up at the discretion of the LCP Purpose: To maintain effective management of the operations of the LC Delegate Profile: The Local Community President and Vice Presidents of respective Functional Project Teams must attend. Any organization member has the option to sit in on the meeting Leadership Team Meeting- shall meet at least twice a semester, and as deemed necessary by the Executive Board Purpose: To vote on working group proposals Delegate Profile: All members of the Leadership Team must attend monthly meetings. The last meeting of each semester shall be open to

13 all members of the LC Board of Advisors Meeting Local Community President must set up a meeting twice per University semester Purpose: To update the Board of Advisors on the operations of the organization and attain supplemental feedback and support Delegate Profile: Members of the Executive Management Board are expected to attend Regional Kickoff Seminar (RoKS) The Rowdies West Region organizes two conferences per year Purpose: Emphasis on orienting new members, introduction to AIESEC while experienced members act as mentors, facilitators and motivators to bond with the new members Delegate Profile: All new members are required to attend along with the LCP or appointed leader from the LC. Old members are encouraged to attend Winter Retreat Time: Within the first two weeks of the beginning of the University s Spring Semester Purpose: Unveil the LC plan to all General Members, assign members to teams and create individual plans Delegate Profile: All general members are required to attend Fall Retreat Time: Within the first two weeks of the beginning of the University s Fall Semester Purpose: review of LC plan Delegate Profile: All General Members are required to attend. ARTICLE V EXCHANGE PROGRAMS This section outlines the procedures for AIESEC Madison s Exchange Programs 5 Participant Recruitment track. 5.1 Focus Increase the capacity of outgoing exchange Send more qualified individuals abroad Engage more students in AIESEC. 5.2 Difference between Exchange Programs and Team Member/Leader Programs: Definitions available in AIESEC International Program Definitions Exchange Integration Stages Recruitment: This process selects the candidates that are qualified to pursue a traineeship through assessment center During recruitment, note that AIESEC offers the opportunity of international exchange programs, but does not guarantee placement An interview will be conducted based on their potential to go abroad and become and agent of change.

14 Coordinators and VP OGX must meet to make final decisions of participant acceptance General Preparation The session will be planned by the matching role and facilitated by respective team members (Global Internships Program or Global Community Development Program) Expectation and goal setting Introduction to myaiesec.net and/or other exchange tools Explanation of the application process This step will assimilate the participant into AIESEC and give them an understanding of the organization Traineeship application: Meetings with respective team members (Global Internships Program or Global Community Development Program) will begin the following: CV updates/creation, visa procedures, myaiesec.net, and TN database searching Cultural resources must be provided/available by respective team members (Global Internships Program or Global Community Development Program) Outgoing Preparation Exchange: Further AIESEC Madison support: consistent contact to verify quality of traineeship and the program participant is assimilated, help with culture shock, stay connected with participants to make sure participants are on task Feedback and Reintegration: Upon completion of TN, AIESEC-Madison will contact EPs to support them in the reintegration process Returning EP Survey: AIESEC-Madison will ask returning EPs to fill out an AI survey with the purpose to evaluate other Local Committees, keep track of past experiences and improve on the quality of future ones Returning participants are encouraged to apply to participate in our Team Member/Leader Programs What AIESEC Madison should reasonably expect from Exchange Program Participants Commitment to one traineeship at a time Inform AIESEC United States in a timely manner if you become unavailable for a traineeship or decide to leave the program for any reason Obtain appropriate international health insurance, a valid passport, and the appropriate work or residence permit The participant is responsible for personal health and safety.

15 Contract directly with the company that is providing the traineeship, around all work related conditions (i.e. salary, duration, exact job tasks) Have adequate living expenses and a return ticket to the United States (unless the participant plans on realizing more than one traineeship) Be a positive representative and ambassador of the United States culture and AIESEC as an organization Responsible for attending all required sessions and performing all necessary preparation tasks that are outline for the participant Pay $150 traineeship database search fee (nonrefundable, with continuous access for one year) Pay required program fee after match What participant should reasonably expect from AIESEC Madison Provides access to international traineeships Provides Exchange Program Participants who have secured a traineeship access to resources about the traineeship country Provides Exchange Program Participants who have secured a traineeship access to resources on the process to acquire a Visa and/or work permit in the traineeship country Provides standard logistical and cultural preparation Provides support throughout the traineeship in the form of periodic written or verbal communication Provides access to reintegration resources upon return if requested by the EEP Expectations of Exchange Program Participants on Traineeship Availablility GCDPs are the most available, usually shorter in duration, and generally offer accommodation and meals GIPs are more competitive, are usually longer in duration, and generally offer salaries (based on average cost of living in host country) Be flexible in terms of duration (if possible), job type, and desired region. This is the best method to find the exact job desired, which may not be first country of choice The company, not AIESEC, makes the final decision Traineeships range from six weeks to 18 months in duration The LC will adhere to the procedures stipulated in the National Compendium, and will facilitate an External Exchange Program according to the procedures outlined in the national compendium Cultural Envoy for Exchange Development (hereafter referred to as CEED ): Outgoing and Incoming Individuals sent to an LC to help in certain aspects of the LC's structure: Incoming CEED Structure:

16 The team or VP(s) to which the CEED is responsible, shall arrange the CEED s AIESEC work throughout his or her stay The Account Delivery Team and traineeship raisers are responsible for logistical matters and responsible for integration Nothing in this document is to be construed as barring other teams from holding social events with the CEED, only that the Account Delivery Team is primarily responsible. ARTICLE VI FINANCIAL STRUCTURE 6. This section outlines the financial structure that AIESEC-Madison has 6.1. The Fiscal year of the LC runs from Jan 1st to December 31st. 6.2 Finances shall be raised by: Traineeship Fees (fees from ICX, OGX, and sales contracts) Corporate sponsorships and partnerships Grants and donations Membership Fee: All members are required to pay a membership fee within the first ten weeks of the beginning of the semester once the current VP Finance and LCP determine that the fees will be collected for the given semester The membership fee shall be less than or equal to a $25 payment to the LC subject to the current financial status of the LC itself At the time of the collection period, members who attend the Regional Kick-Off Seminar will be exempt from the membership fee for that given semester (subject to discretion of VP Finance and LCP given the current financial situation of the LC) Fees collected in each semester will only be used for logistical purposes and operational costs incurred by the LC By any other means available and compatible with the bylaws of the organization that are not in conflict with the mission and objectives of AIESEC Any revenue stream that is affiliated directly with alcohol or any other illegal substance is not in accordance to the mission and objectives of AIESEC; therefore, it is not allowed as a source of revenue for AIESEC-Madison. 6.3 Financial Procedure The LC shall retain all funds given by the University in their local bank account and any LC expenditures shall be subject to the rules imposed by the University The LC is ultimately accountable to AIESEC United States and must follow all rules and guidelines that are sanctioned by the MC of AIESEC United States.

17 6.3.3 Budget Updates The LC will submit its proposed yearly budget to the MC of AIESEC United States on or before the date of January 31 of each year The budget must be updated monthly and submitted to the MC on or before the 15 th day of the following month (subject to the release of the monthly actuals) and also presented to the LC during the following month s general member meeting The monthly updated budget must be uploaded to the Podio Finance space on or before the 15 th day of the following month (subject to the release of the monthly actuals) under the application Budget Updates Within the budget itself (if it is contained within the Excel program), Each projected and actual revenue and expense must be accompanied with a posted comment describing to an external user what that given revenue and expense originated from The quarterly budget must be presented to the Board of Advisors at each and every of the BoA meetings held during the fiscal year The LC is responsible for reconciling the account statement to its records The LC account must always maintain a balance of no less than $750. Before the LC takes out a loan or arranged overdraft, it must receive the approval of the MCP and LCP Any expenditures in excess of $500 that will be withdrawn from the LC local account must be accompanied with subsequent revenues that are directly affiliated with aforementioned expenditures within the next two months The VP Finance must work with the current executive board in creation and adjustments of the current budget at the beginning of each quarter to properly portray the realities of each functional team for the rest of the fiscal year The VP Finance will update the Current Financial Status section on Podio found under the activity page weekly, giving both accounts receivable and accounts payable to showcase transparency to the entire LC on a weekly basis The VP Finance or LCP, when holding cash assets belonging to the LC, must portray it in the Current Financial Status section under the label cash holdings on a monthly basis All members of the LC must be included in the finance Podio workspace to provide financial transparency upon their request The online platform of Wave Accounting will be the main financial tracking tool of the local committee and it will be supplemented by Intacct and the budget template.

18 All accounts listed on this platform shall reflect the entire financial status of AIESEC- Madison including the proper revenue and expense accounts Wave Accounting will be updated on a monthly basis to reflect this financial status The LCP and VP Finance will immediately disclose Wave Accounting information that is requested by the Board of Advisors or any general member All financial reports will be produced via the Wave Accounting software. 6.4 Allocation and Distribution of Funds For Conferences Regional Kickoff Seminars (hereafter referred to as RoKS ) The LCP and VP Finance will determine the amount of funds that are allocated for each and every RoKs conference If RoKs scholarships are offered, the application process must be open to all general members who attended and recipients of the scholarship must attend each and every session at the conference, to the best of knowledge of the decision makers National Conferences The LC will cover no less than 50% of travel and delegate fee for national conferences VP s and LCP are required to attend (subject to the LC Finances and the discretion of the LCP and VP Finance) A Additional funds above 50% of total expenses may be dispersed given the current financial status of the LC and the discretion of the LCP and VP Finance VP Finance shall make information available, in compliance with the LCP, of total available funds for each and every national conference before the conference occurs Attendance, enthusiasm and professionalism during the entire conference will affect adjustments to the funds that the delegate will receive National Presidents Meeting (NPM) The delegation fee and travel expenses for the LCP shall be covered by the LC for both fall and spring NPM The delegation fee LCP-elect shall be covered by the LC for fall NPM and the travel expenses may be

19 covered at the discretion of the current LCP and VP Finance International Conferences Prior to attending an international conference, the attendee and their VP must decide which functional areas the attendee will focus on while at the conference The LC is allowed to allocate funds for International conferences at their own discretion given that the total account balance for both accounts maintains a balance no less than $6,000 after the funds have been allocated For all AIESEC members, a conference subsidy application is required to be submitted on the Finance Podio space no less than 2 weeks before the conference that is outside the normal LC conference cycle. Subsidized amount will be based on financial situation of the LC, decisions will be made based on the Executive board and Finance Team s discretion Reimbursement Process Before AIESEC-Madison incurs any expense, it must have a prior approval by the VP Finance or the LC will not process the reimbursement If the expense incurred is planned to exceed $50, it must have prior approval by both the LCP and VP Finance before the expense is incurred Any planned investments must be uploaded to the Finance Podio workspace under the application Investment Request no later than two weeks before the planned expense date unless the expense contains both the qualities of unforeseen and immediate (subject to the discretion of the LCP and VP Finance) Once approval is granted on a planned LC expense, the receipt must be retained and uploaded to the Finance Podio workspace under the application Reimbursement Forms no later than two weeks after the expense is incurred A reimbursement request that is submitted later than two weeks after the expense is incurred may not be given or only partially reimbursed given the circumstantial evidence available for that particular transaction (subject to the of the VP Finance and the LCP) The VP Finance must process the reimbursement request and, subsequently, he or she must showcase that the request has been processed and to which account it was drawn from in the comment section of the application itself Events

20 For all events hosted by the LC, the finance team is responsible to reveal the lump sum budgeted amount for all events no less than a month before the first event A finalized budget for every event needs to be reviewed no less than 2 weeks before the event, and is subject to the Finance Team s approval Within 2 weeks of every event, the Finance team is responsible to reveal the actual revenue and expenses to the organizing committee and available to the local committees reference All reimbursements for events must be submitted no later than 1 week after the day of the event. 6.2 AIESEC Bux AIESEC Bux are to reward LC Members for doing work that helps the organization become financially sustainable, all AIESEC Bux earned by a specific individual are accumulated and will be kept on reserve awaiting withdrawals Any individual that is a part of the AIESC-Madison LC can earn AIESEC Bux. The actions required and the respective amounts are outlined in Appendix A AIESEC Bux can be used for the following AIESEC related reasons after approval by the finance function Traineeships (Both application & match fees) CEEDs Membership Dues Conferences AIESEC Bux cannot be withdrawn for the purchasing of any type of merchandise The VP Finance must calculate AIESEC Bux using the actual amount to be received by the LC as revenue after the MC Fee is incurred at the end of every quarter, therefore, the net amount of exchange revenue (net of MC exchange fee) must be used and not the total revenue in calculating monthly AIESEC Bux Bux Withdrawal Procedures: All applicants wanting to withdraw AIESEC Bux for a given event that is in accordance to the aforementioned guidelines must make it apparent to the finance function before the transaction is made All AIESEC Bux withdrawal forms must be uploaded on the Finance Podio workspace under the Bux Withdrawals no later than two weeks after the payment has been made Identical to the treatment of a reimbursement request, Bux Withdrawal requests that is submitted later than two weeks after the payment is made may not be given or only partially allowed given the circumstantial evidence available for that particular transaction

21 Appendix A AIESEC Bux (subject to the discretion of the VP Finance and the LCP) Identical to the treatment of a reimbursement request, The VP Finance must process the Bux withdrawal request and, subsequently, he or she must showcase that the request has been processed and to which account it was drawn from in the comment section of the application itself An individual s AIESEC Bux account balance may dissolve for the following reasons: The member is removed from the LC The members quits the LC The member has not been a part of the LC for one semester and does not plan on rejoining the LC upon return of their travels Any individual s balance may be dissolved at any point once the entire executive board unanimously decides that it is necessary to do such. TRANSACTION DETAILS WHO CAN EARN EVENT HOW MUCH Any General Member Be Elected LCP $75 Be Elected For a VP Position $50 Be Elected For a Coordinator Position $15 Most Motivated New Member Award $15 Semester Functional Team Award $10 Most Motivated General Member Award $15 Hold 10 Sales Meetings In A Month (Needs Verification) $10 Member Involved With TN Receive Grant Raising TN Contract Matching TN Contract 5% of Grant Revenue $40 Per TN 1% for AD and 2% for original TN raiser VP BD Any Contract Raised.5% of LC Revenue VP OGX Total Revenue From Raising & Matching.5% of LC Revenue EP Manager receives $10 & Coordinator VP OGX Matching EP $15 & Coordinator receives $3 GCDP: receives $2 GIP: EP Manager receives TM Team: Family Leader General Member: Leadership Role & Exchange $15 LCP Any General Member Successfully Lead The LC Be Designated By EB to Receive AIESEC Bux 0.5% of Total Revenue TBD By Executive Board Appendix II Chain of Command

22 1. In the event of the absence of the LCP, the chain of command must follow the order established by the LCP The LCP must establish the chain of command and communicate it to the Executive Board by the beginning of his term 1.2. The chain of command may be altered by the LCP during his term in the event of changes in the EB. Mandates: 1. At least 90% of the fully-active, participatory members of the AIESEC Madison local committee, a subsidiary of AIESEC United States, shall be currently enrolled students at the University of Wisconsin-Madison 1.1. The executive board of AIESEC Madison, as well as all short-term and longterm leadership positions, shall be held by currently enrolled students at the University of Wisconsin-Madison