Ryerson University and Ryerson Students’ Union negotiate a new operating agreement
Ryerson University is pleased to announce that on April 30, 2020, the university and the Ryerson Students’ Union (RSU) entered into a new operating agreement.
The new agreement enhances the relationship between Ryerson and RSU by ensuring that a model of good governance and accountability forms the basis of a partnership that puts the student experience first. The new agreement contains a number of provisions centered around accountability and transparency that were absent from the previous 1986 Operating Agreement between Ryerson and RSU. These provisions include, but are not limited to:
- a requirement for the RSU to record revenues and expenses, and oversee the use of student fees in accordance with generally accepted accounting principles;
- a requirement that the RSU provide Ryerson University with its operating budget and audited financial statements;
- a requirement that the RSU designate a liaison between Ryerson and the RSU to improve communication and the working relationship between both organizations; and
- a fixed term of five years with a requirement that the parties attempt to renegotiate the renewal of the agreement on mutually agreeable terms nine months before the end of the agreement’s term. If the parties cannot agree on mutually agreeable terms, the agreement automatically extends for a one-year term, up to a maximum of five successive one-year extensions.
The agreement was approved by RSU’s Board of Directors on April, 21, 2020 and ratified by the Ryerson Board of Governors on April 30, 2020.
Ryerson’s primary responsibility is and always will be to act in the best interests of students and to ensure that the student fees collected on behalf of RSU are accounted for. The financial accountability and transparency provisions, as well as provisions with respect to term and the obligation to renegotiate in good faith in the future, result in a strong agreement that is fair to both Ryerson and RSU. Most importantly the agreement will result in further transparency for and accountability to Ryerson students when it comes to the use of student fees.
We want to extend a sincere thank you to the outgoing 2019-2020 RSU Executive for their hard work and dedication to negotiating the new agreement. Ryerson is confident that the new agreement will serve as a foundation for a positive and constructive working relationship with RSU and as a framework for a collaborative partnership, opportunities for alignment, and a shared approach to supporting students.
Ryerson looks forward to working with the incoming 2020-2021 RSU Executive and furthering the spirit of collaboration throughout the upcoming academic year.