Financial Autonomy Petition

Over the years, the students of University Malaya have been experiencing the
difficulty to obtain financial resources from the university even after they have
successfully harness funds from generous sponsors. However, there is a common
setback, which is the inability for every student organisation to manage their
own funds as they face difficulties in claiming for their expenses from the student
administration department. Some mega projects demand a heavy deposit in
which, students will find it difficult to withdraw the amount of money required
from the Official Treasurer of University Malaya. With that, they had to fish out
their own finances and sought to claim the amount after the program.
Unfortunately, there are situations where there was a massive delay in the
returning of fund withdrawn from the account. Furthermore, there will be cases
where vendors or supplier require an initial payment of deposit at the beginning
of the contract. As a result of the tedious procedure of obtaining the required
amount, students have to fork out their own money in order to secure the
vendors as well as suppliers. This makes students who are financially tight suffer
as a consequence of the waiting process of claiming the funds to cover up the
expenses made for the particular event.
This problem has been taking place for a long time and there is no solid
improvement even after the higher authorities have been approached
continuously. Tightening the students financial belt while encouraging students
to be actively involved in activities and organizing events will only contribute to
more detriment that benefits. Even after the funds have been supplied by the
sponsors, there is no difference made if the given financial aid is being withheld
by the Treasurer and unable to be used by the students.
In order to ease the transaction process of obtaining funds from the sponsors
directly; we propose that every student organisation should be given a financial
autonomy. The question of transparency can be easily tackled by making it a
mandatory rule for each societal treasurer to submit the financial report and
transactions by the end of every year. The auditor will inspect the transactions
made in order to prevent fraud by the students. All the following solutions can be
issued to ensure transparency. Thus, this shall not affect the credibility of the
student organisations, as well as the administrations.
By implementing this proposal, each student organisation shall no longer face
such an issue whereby financial funds are being withheld, as it shall be
permissible for every student body to open up their own organisation bank
account in order to keep track of their financial stand and status. Enabling
students to carry out this alternative will encourage more students to organize
university-level projects as they need not worry about whether or not their funds
can be reclaimed.
As your representatives, we hereby urge every student organisation head to
agree with this given proposal. We truly believe that everyone shall benefit from
this if it is deemed to be a success.

I, hereby support this proposal for all good means and hope that those problems
stated above can be solved accordingly.

_____________________
Name

Club/Society :
Matric Number

Petition of Agreement
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