JUNIOR FINANCIAL EXECUTIVES (JFINEX)

The Junior Financial Executives was first introduced to the University of San Carlos through the 6th Inter-Collegiate Finance Competition (ICFC) in 2004. That year’s participants were encouraged to establish a chapter in USC, with the original objective of scouting for and helping train future participants of the competition. Encouraged and supported by their coach and the Chairman of the Department of Accountancy, Mr. Challoner A. Matero, the participants gathered some of their peers and worked for the establishment of the organization. A constitution was drafted and USC-JFINEX was officially organized as an extra-curricular organization in the summer of 2005. The main purpose of the organization was expanded to include the promotion of interest in finance in the campus. Membership was not limited to Accountancy students, but was opened to all students of the College of Commerce. At the opening of the first semester of the academic year 2005-2006, the organization conducted recruitment of members. Today, membership has grown to more than 70 students from the different curricula in the College of Commerce.


  JFINEX EXECUTIVE BOARD

S.Y. 2006 – 2007
President Bernardino Amago IV
Vice President Gerry Huyo-a
Secretary Bryan Baclayon
Assistant Secretary Jennifer Hetutua
Treasurer Eduard Conde
Assistant Treasurer Stephen Baltazar
Director of Communications Ray Adrian Dante
Director of Member Activities Mae Hormillada
Director of External Relations Jeanelle Jorbina
Auditor Karlin Dalena

  COMMITTEE DUTIES AND RESPONSIBLITIES

Committee on Fundraising

1. Organize activities that earn revenue for USC-JFINEX
2. Remit to the Treasurer revenue generated through the fundraising activities
3. Furnish the Treasurer with complete documentation of funds raised

Committee on Field Trips > Organize trips or excursions to institutions or offices related to any financial activity

Facilitate correspondence with the chosen institution or office for approval of the excursion

Issue activity permits to participating members for their parents’ approval

Report to the Executive Board about the results of the activities

Committee on Competitions

1. Spearhead quiz bowls and any academic contests that USC-JFINEX will hold
2. Assign responsibilities of the members of the working committee of the quiz bowl or contest
3. Prepare the needed materials for the quiz bowl or contest
4. Buy the prizes or awards for the winners
5. Report to the Executive Board the results of the activities

Committee on Charity Events

1. Organize charity activities for underprivileged members of the community
2. Ensure that the activities will foster a sense of social responsibility among the members
3. Report to the Executive Board the results of the activities

Committee on Spiritual Development

1. Oversee the participation of USC-JFINEX to any spiritual activity of the University
2. Organize activities that will promote the religious spirit among members
3. Report to the Executive Board the results of the activities

Committee on Documentation

1. Take pictures or videos of activities organized by USC-JFINEX
2. Collect all files, permits, and other paper works related to any activity for archiving
3. Coordinate with the Secretary and Assistant Secretary for the handling of documents

Committee on Corporate Relations

1. Get in touch with organizations in the business community, particularly those specializing in finance
2. Assist in USC-JFINEX projects and programs spearheaded by other committees by tapping acquaintances in the business community
3. Organize activities that improve corporate relations
4. Report to the Executive Board the results of the activities

Committee on Education and Research

1. Organize activities that help promote and develop interest in finance among members
2. Establish programs that help members in their academic pursuits in finance
3. Report to the Executive Board the results of the activities

Committee on Faculty-Student Relations

1. Build database containing basic information on faculty members that USC-JFINEX may work with
2. Organize activities that foster harmonious relationship between the faculty and the members of the USC-JFINEX
3. Handle complaints and mediate disagreements between faculty member(s) and member(s) of USC-JFINEX
4. Report to the Executive Board about the results of the activities

Committee on Inter-Student Organizational Relations

1. Get in touch with other JFINEX organizations in other universities
2. Assist in USC-JFINEX projects and programs spearheaded by other committees by tapping acquaintances in other JFINEX organizations
3. Organize activities that improve inter-student organizational relations
4. Report to the Executive Board the results of the activities

Committee on Logistics

1. Take care of documents and reservations needed for the use of venues and equipment needed in the projects and programs organized by USC-JFINEX
2. Compile all documents involved in the reservations and submit to the Documentation Committee for archival purposes
3. Supervise the proper handling and safe return of equipment used during the activity

Committee on Membership Drives

1. Organize activities that promote USC-JFINEX to outsiders to encourage membership in the organization
2. Provide interested parties with materials in response to inquiries about the organization
3. Report to the Executive Board about the results of the activities

Committee on Social Events

1. Oversee social activities of USC-JFINEX aimed at improving relationship both inside and outside the organization
2. Organize activities that enhance membership acquaintances within the organization
3. Coordinate with the Committees on Corporate Relations, Faculty-Student Relations and Inter-Student Organizational Relations for social gatherings involving outside parties
4. Report to the Executive Board about the results of the activities

Committee on Special Conferences

1. Organize general meetings/assemblies called for by the Executive Board
2. Report to the Executive Board about the results of the activities

  THE CONSTITUTION & BY-LAWS
OF THE
JUNIOR FINANCIAL EXECUTIVES
UNIVERSITY OF SAN CARLOS CHAPTER
(USC – JFINEX)
Last Updated:
May 28, 2005
Constitution & By-Laws
of the
Junior Financial Executives
University of San Carlos Chapter
(USC – JFINEX)

Preamble

We, the students of the University of San Carlos, in order to form a more effective and functional student organization, to help develop student interests, to foster the spirit of loyalty to the university and spirit of unity among students, to provide a means for expression of student needs, to strive toward a closer understanding between faculty and students, and to assume the fullest responsibility and power of self-government consistent with the policies of the University, do hereby ordain and establish this Constitution for the Junior Financial Executives University of San Carlos Chapter.

Article I NAME

Section 1: The name of the organization shall be the Junior Financial Executives University of San Carlos Chapter.

Section 2: The organization shall also be identified by the acronym, USC – JFINEX.

Article II MISSION

The mission of the USC – JFINEX is to expose undergraduate commerce students to a broad array of topics in Finance. Working together in an enriched environment, with the common goals of academic and future career successes, within Finance, will enhance members’ abilities to perform in the global environment.

Article III PURPOSE

The USC – JFINEX is a diverse group of undergraduate commerce students from a variety of academic backgrounds. The purpose of the organization is to help students pursue their interests in finance, to encourage student participation in finance activities, to promote finance on campus and in the community, to communicate state of the art finance theory and practice, to encourage and uphold sound, honest practices in the pursuit of opportunities in finance, and finally to promote friendly, productive interactions between students, faculty and business people.

Article IV POLICIES

This organization shall be nonsectarian, nonpartisan, and nonprofit.

Article V MEMBERSHIP

Section 1: The membership of the USC – JFINEX shall be composed of any University of San Carlos undergraduate commerce student with an interest in Finance who has paid the appropriate membership dues.

Section 2: The USC – JFINEX does not discriminate against persons or restrict in its membership by reason of age, citizenship, color, disability, gender, race, religion, national origin, political affiliation, or sexual orientation.

Section 3: Membership runs for the entire school year or until graduation whichever comes first.

Article VI DUES

Section 1: The elected officers shall establish annual dues to remain comparable to other undergraduate commerce organizations’ fees.

Section 2: Dues are payable upon application for membership and renewable on the first day of the third week right after the start of classes.

Section 3: A member is in good standing only when organization dues are paid.

Section 4: Any member who does not pay dues within two (2) weeks of renewal date shall be removed from the organization roster.

Section 5: A person who has been removed from the organization roster for nonpayment of dues may be reinstated upon payment of all delinquent dues.

Article VII DUTIES AND RESPONSIBILITIES OF MEMBERS

Section 1: To know and be concerned with all the existing regulations, policies and requirements concerning school duties, campus activities, and discipline, as defined in published school handbooks and bulletins.

Section 2: Every member must familiarize with and be guided by the constitution and by-laws, regulations and policies of the USC – JFINEX.

Section 3: It is the duty and obligation of every member to attend meetings and to participate in activities called for by the organization.

Section 4: It is the duty and obligation of every member to pay the membership dues.

Article VIII RIGHTS AND PRIVILEGES OF MEMBERS

Every member shall have the following rights and privileges:

Section 1: Right to vote during elections, plebiscites and any other instance requiring the vote of the members.

Section 2: Right to be appointed and elected to any office of the USC – JFINEX, provided he/she meets qualifications set forth in Article XV.

Section 3: Right to receive copies of the USC – JFINEX publication.

Section 4: Right to enjoy programs, services and privileges which the USC – JFINEX may offer.

Section 5: Right to have access to all records of the organization.

Section 6: Right to be heard for suggestions and complaints.

Article IX FISCAL RESPONSIBILITY

The fiscal year shall commence on the 1st day of June and shall end on the 31st day of May.

Article X EXECUTIVE BOARD

Section 1: The elected officers of the USC – JFINEX shall be:

• President
• Vice – President
• Secretary
• Assistant Secretary
• Treasurer
• Assistant Treasurer
• Director of Communications
• Director of Member Activities
• Director of External Relations
• Auditor

Collectively, these officers shall be referred to as the Executive Board, also known as the Board of Directors.

Section 2: Only individuals, who meet qualifications set forth in Article XV, shall be eligible to serve in the Executive Board.

Section 3: Elected officers shall assume their duties immediately after the end of the fiscal year under the previous administration and shall serve for one year or until the successors are duly elected and qualified.

Article XI STANDING COMMITTEES

Section 1: The standing committees of the USC – JFINEX shall be:

• Education and Research
• Membership Drives
• Fundraising
• Corporate Relations
• Special Conferences
• Social Events
• Field Trips
• Competitions
• Inter-Student Organizational Relations
• Faculty-Student Relations
• Charity Events
• Spiritual Development
• The Executive Board shall appoint the committee chairs.

The standing committees may not be retired, except through a majority vote of the Executive Board, at an executive meeting convened by the President, for the purpose in mind.

Section 2: Only individuals, who meet qualifications set forth in Article XV, shall be eligible to serve as standing committee chairs.

Section 3: The process for appointment to any standing committee within the organization shall be:

• Within two (2) weeks following the election of the Executive Board, any member desiring to be appointed shall submit his/her name to the incoming President.

• A candidate must be a member of the organization and may be considered for and appointed to more than one position.

• At the end of the two (2) week period, the Executive Board shall convene to debate and vote on each appointed position.

• Any candidate with the majority of the vote shall be considered appointed.

• In the event of tie, the Executive Board may proceed with a runoff vote, in which the majority recipient shall be deemed appointed.

• In the event the above is not feasible, the President shall have the deciding vote.

Article XII SUPPORTING POSITIONS

Section 1: The Executive Board shall create the support positions of the USC – JFINEX as necessary.

Section 2: The process for appointment to any support position within the organization shall be:

• Within two (2) weeks following the election of the Executive Board, any member desiring to be appointed shall submit his/her name to the incoming President.

• A candidate must be a member of the organization and may be considered for and appointed to more than one position.

• At the end of the two (2) week period, the Executive Board shall convene to debate and vote on each appointed position.

• Any candidate with the majority of the vote shall be considered appointed.

• In the event of tie, the Executive Board may proceed with a runoff vote, in which the majority recipient shall be deemed appointed.

• In the event the above is not feasible; the President shall have the deciding vote.

Article XIII FACULTY ADVISOR

Section 1: The Executive Board shall recommend one or more Faculty Advisors to the Dean of the College of Commerce for appointment.

Section 2: Faculty Advisors must be instructors from the College of Commerce.

Section 3: The advisor shall serve for at least one full school year and shall aid and advise the group on matters under consideration.

Section 4: Additional faculty members may be asked to join the appointed Faculty Advisor whenever the tasks involved make it feasible to have additional faculty representation.

Article XIV ELECTIONS

Section 1: The COMELEC, composed of five (5) graduating officers, shall be duly appointed by the outgoing Executive Board unless otherwise agreed upon. They shall elect among themselves a Chairman and a Vice – Chairman.

Section 2: Elections shall be held not later than a month before the end of classes for the second semester.

Section 3: Each member shall have one vote. The COMELEC shall distribute the ballots to the members at the time of elections, and collect them prior to the counting of the votes.

Section 4: Election for officers shall be taken at an official meeting of the USC – JFINEX.

• All members shall be given notice of such meeting and its purpose at least two (2) weeks prior to the meeting.


• Nominations shall be accepted by the COMELEC from the time notice is given until nominations are closed 24 hours prior to the electoral meeting.


• All nominees for officer positions must be members at the time of elections.


• Members may only submit nominations for one position.


• After nominations are closed,


• Nominees for all positions may make presentations lasting no more than five (5) minutes each to the members present, just before the ballots are distributed and prior to the elections, by electronic media or other forms of media.


• Voting shall take place by secret ballot at the electoral meeting.


• Absentee ballots will not be entertained.


• Any nominee with a simple majority of the vote in this election shall be declared the winner of the election. If, for a particular office, no nominee receives a majority of the vote,


• A run-off election shall be held between the two nominees with the greatest number of votes.


• The nominee with the majority of the run-off votes shall be declared the winner.


• If the run-off election ends in a tie, the winner will be determined by a coin toss, to be administered by the President.


• The votes will be tallied by the COMELEC. If available, the Faculty Advisor shall also be present for the vote count.

Article XV QUALIFICATIONS

Section 1: Candidates for officers must be a bona fide member of the USC – JFINEX with good standing.

Section 2: He / She must be a full time student.

Section 3: He / She must have at least one (1) year residence in the College of Commerce immediately preceding the election.

Section 4: He / She must not be a graduating student the semester following his / her election.

Section 5: He must have a good academic standing.

Section 6: He must be of good moral character.

Article XVI DUTIES OF THE EXECUTIVE BOARD

Section 1: The Executive Board shall:

• Supervise the affairs of the organization.


• Make recommendations for the organization's growth and prosperity.


• Make recommendations to the organization regarding proposed amendments to the constitution and bylaws.


• Report at the annual meeting the business transacted by the USC – JFINEX during the organization year.

Section 2: The President shall:

• Act as the official representative of the organization.


• Chair the Executive Board.


• Serve as Ex-Officio member of all committees.


• Exercise general supervision over the affairs of the organization.


• Oversee all activities of the directors.


• Preside at all official meetings and declare quorums.


• Call special meetings when appropriate.


• Jointly, with the Secretary, oversee all elections of the organization.


• Jointly, with the Faculty Advisor, establish organization’s official goals at the beginning of each semester and evaluate these objectives at the close of each semester.


• Send relevant communications to the general membership.


• Oversee transitional meeting for incoming administration.


• Perform all other duties normally expected of a President.

Section 3: The Vice – President shall:

• Perform the duties and exercise the powers of the President in his/her absence or disability.


• Study reports of Committee Chairmen and submit his comments to the Executive Board.


• Exercise coordinating supervision over the USC – JFINEX committees.


• Advise on all questions of parliamentary practice upon request by the President.


• Do such other duties that may be prescribed by the President from time to time.

Section 4: The Secretary shall:

• Schedule and arrange all Executive Board and General Body meetings.


• Record the minutes of all meetings of the organization.


• Read the minutes of the previous meeting during the following meeting.


• Jointly, with the President, oversee all elections of the organization.


• Handle and record all correspondence throughout the organization.


• Oversee archival process for all relevant materials for subsequent administrations.


• Perform all other duties normally expected of a Secretary.


• Do such other duties that may be prescribed by the President from time to time.

Section 5: The Assistant Secretary shall:

• Exercise the powers and perform the duties of the Secretary in the latter’s absence or incapacity.


• Assist the Secretary in the keeping of the USC – JFINEX official records and recording of minutes of the meetings of the Executive Board and the General Body.


• Do such other duties that may be prescribed by the President from time to time.

Section 6: The Treasurer shall:

• Exercise care and custody of the USC – JFINEX’s funds, subject to regulations imposed by the membership or the University of San Carlos.


• Deposit funds in the depository bank authorized by the Executive Board, in the name of the USC – JFINEX.


• Receive and disburse funds in behalf of the USC – JFINEX provided such disbursements are authorized and duly supported with receipts or its equivalent.


• See to it that funds for special purpose shall be disbursed for such purpose only unless a surplus is realized in which case it may be disbursed as the Executive B Board may deem it.


• Sign together with the President for any withdrawal from the depository bank.


• Coordinate with the Chairman of the Fundraising Committee.


• Maintain the financial records of the organization.


• Report the organization’s duly audited current financial position to the Executive Board at the executive meetings, or when requested by the President.


• Report the organization’s duly audited current financial position and official semester budget to the Faculty Advisor at the start and close of each semester.


• Collect dues from all members.


• Update list of organization members who have paid membership dues.


• Perform all other duties normally expected of a Treasurer.

Section 7: The Assistant Treasurer shall:

• Have the powers and duties of the Treasurer in the latter’s absence or incapacity.


• Assist the Treasurer in the collection of dues.


• Do such other duties the President or the Treasurer may prescribe from time to time.

Section 8: The Director of Communications shall:

• Monitor and update the USC – JFINEX website and bulletin boards.


• Ensure that the USC – JFINEX website acts as a historical reference point for future Executive Boards, especially for past officers, activities and guest speakers.


• Organize USC – JFINEX promotions, with the help of the Executive Board, during the beginning of the school year.


• Make notifications of upcoming USC – JFINEX events.


• Advise USC – JFINEX members of coming events throughout the year, and promotion of these events throughout the year.


• Perform all other duties normally expected of a Director of Communications.

Section 9: The Director of Member Activities shall:

• Organize social events, speaker events and extracurricular activities.


• Reserve conference rooms at request of Executive Board.


• Identify, through research and surveys, events members request and ideas for new events.


• Recruit potential members, as well as report new members and paid dues to the Treasurer.


• Communications with key sponsors and individuals linked to making the events for the organization possible, including room arrangements and guest preparations.


• Perform all other duties normally expected of a Director of Member Activities.

Section 10: The Director of External Relations shall:

• Engage in recruiting new members throughout the school year.


• Establish and foster relationships with corporate leaders for the purpose of coordinating corporate speakers and securing corporate sponsorship of events.


• Jointly, with the Director of Communications, monitor and update the alumni database.


• Perform all other duties normally expected of a Director of External Relations.

Section 11: The Auditor shall:

• Audit the records of the Treasurer.


• Examine and verify reports or statements prepared by the Treasurer before submission to the Executive Board or the General Body.


• Perform such other duties the President may prescribe from time to time.

Article XVII IMPEACHMENT

Section 1: Any member of the organization in good standing may institute an impeachment proceeding against any officer on the following grounds:

• Gross neglect of duty


• Gross violation of the Constitution

Section 2: The Executive Board, with the advice of the Faculty Advisor(s), shall have the sole power to impeach.

Section 3: The Executive Board may be called to a special meeting for impeachment proceedings by at least five (5) members of good standing.

Section 4: Two – thirds (2/3) votes of all the members of the Executive Board shall be necessary to remove one from office.

Section 5: The President shall preside over such proceedings, unless the President is the subject of the impeachment in which case, the Vice – President shall preside.

Article XVIII MEETINGS

Section 1: A quorum shall be required for any vote or election to be official. Quorum shall consist of a simple majority of the attending membership.

Section 2: The President may call an official meeting or a special meeting of all or any group of members.

Section 3: The Executive Board shall hold their first meeting not later than one (1) week after their election to office.

Section 4: Regular meetings of the Executive Board shall be held at least once a month.

Section 5: The General Body shall have their first meeting not later than one (1) month from the start of classes.

Section 6: The General Body shall have their regular meeting at any time.

Section 7: The members of the Executive Board shall formulate house rules to govern their meetings and those of the General Body.

Section 8: Any member of the USC – JFINEX may request the President to call a special meeting of the organization, after indicating the specific issues to be considered at the meeting. The request must be made in writing to the President. Upon such request, the President must immediately poll the officers of the Executive Board and, if a majority of these officers favor convening a meeting, a meeting will be called.

Section 9: An annual meeting shall be designated at which time reports summarizing the year's activities shall be given. All members shall be notified in writing as to the time and place of the annual general meeting.

Section 10: No member shall have more than one vote, and no voting by proxy shall be allowed.

Article XIX AMENDMENTS

Section 1: The constitution and by-laws shall constitute the operating basis of the USC – JFINEX.

Section 2: The Executive Board shall review the constitution annually to ensure that it is in keeping with the needs and activities of the USC – JFINEX.

Section 3: Amendments to these constitution and by-laws may be proposed by the Executive Board.

Section 4: All proposed amendments shall be presented to the Executive Board prior to presentation to the General Body.

Section 5: All proposed amendments shall be sent in writing to every member at least one (1) month before they are to be voted upon.

Section 6: These constitution and by-laws may be amended by a two-thirds (2/3) vote of the members present and voting at any regular meeting.

Section 7: Amendments shall take effect immediately upon ratification of the General Body.

Adopted: June 1, 2005