Report of Directors - May 2001

YUFA Foundation
Report of Directors - 2000 - 2001

This is the first year in which all disbursements have been handled through the Ontario Student Opportunity Trust Fund (OSOTF). With matching funds, the total YUFA Foundation scholarships fund now stands at $2,100,000.

We are also providing $5,000 each year from 2000 through to 2007 to provide Ontario Graduate Scholarships in Science and Technology.

The annual amount of YUFA Foundation scholarships increased from about $21,000 in 1999-2000 to $85,000 in 2000-2001. This amount will rise to $105,000 in 2001-2.

With matching funds, this brings the total YUFA Foundation scholarships to $2,100,000. This will cause the annual value of the scholarships to rise to $105,000 in 2001-2.

As previously decided, half the funds available for distribution each year are distributed for merit based scholarships as in the past except that each faculty is guaranteed at least one such scholarship. The remainder of this half of the funds are then allocated in accordance with the number of students enrolled in each faculty. These criteria will be reviewed every five years by the YUFA Foundation, which may recommend changes.

For the remaining half of the funds the sole criterion is need.

The YUFA Foundation can make recommendations to change the criteria as to the distribution of scholarships and bursaries. Such recommendations would be forwarded to SCARSA which will continue to have the ultimate power to accept or reject all proposed changes.

2000-2001 Directors were as follows:

Paul Evans - 209-5801 -
Stan Jeffers - 33851 -
Tiit Kodar - 33527 -
Fred Morgan - 77771 -
Yvette Szmidt - 487-6719 -