AMS VP Finance Gagan Parmar campaigned on increased efficiency, better transparency and stronger support for constituencies and clubs.
As Parmar's term comes to an end, he has delivered on many campaign promises and executive goals — but some remain unfinished beyond target timelines.
Increased investment returns
Parmar’s most significant achievement this term was to “[align the AMS’s] risk tolerance [with its] asset allocation,” as outlined in his executive goals.
In November, AMS Council approved a change to its investment allocation, which Parmar said will increase the student union’s target nominal return to seven per cent, up from the previous five per cent target. The change aims to significantly reduce the AMS’s investments in cash equivalents and fixed-income investments while increasing its exposure to equities.
While this shift allows for the potential of greater returns, it also increases the level of investment risk the AMS is exposed to. However, Parmar said that the new policy is “not a significant change in risk tolerance.”
In explaining the decision, Parmar said that the AMS has “maintained a level of longevity and stability, and there [is] not an immediate foreseeable need for a large withdrawal of investment capital.”
The AMS is expected to gain up to an additional $200,000 per year in the long run from the change.
Reimbursement procedures, increasing transparency
One of Parmar’s overarching priorities for the 2025-26 year is to achieve “operational excellence.”
In support of that goal, Parmar has worked to enhance the club treasurers’ Canvas course; each module now includes a video walk-through covering the processes a treasurer may encounter. Upon course completion, treasurers are authorized to complete financial transactions on behalf of their clubs. Enhancements to the AMS’s reimbursement processes also mean treasurers no longer need to come to AMS offices for most routine financial interactions.
Parmar has also worked to reduce reimbursement times for club members and vendors. As part of this effort, the AMS has expanded access to its credit card for pre-approved purchases, allowing some clubs to bypass the reimbursement process altogether. Since the program launched in the summer, pre-approved purchase requests have been made 33 times.
However, some of Parmar's transparency goals remain in progress.
Originally targeted for September completion with monthly updates, the expanded AMS disclosure for student-facing funds has yet to be implemented. The disclosures would allow students to monitor how funds are spent.
The Clubs Benefit Fund is currently published, but disclosure is still pending for the Competitive Athletics Fund, Sustainability Projects Fund, Constituency Aid Fund and Student Initiative Fund. Parmar said that this is “[in] the works.”
Another goal was also to include “notes and commentary” to the AMS budget, so that students can have a “clearer understanding of the Society’s expenditure.” However, this has not been implemented.
Since the student fee opt-out process became digital in 2023, several student groups have faced budget constraints. Former-VP Finance Abhi Mishra ran campaigns to increase student awareness about the new process, emphasizing student affordability as a consideration for students deciding whether to opt-out.
Last year’s VP Finance Gavin Fung-Quon adopted a more “neutral tone” on AMS awareness campaigns after consultation with student groups.
In his candidate interview with The Ubyssey last March, Parmar said that he wanted to take a “collaborative approach” with affected student groups.
This year, Parmar said that fee-receiving groups were able to review all AMS marketing material before publication and were invited to provide feedback directly. In addition, Parmar said student groups were “[invited to] make direct edits” to marketing material.
For the remainder of his term, Parmar said he is focused on completing outstanding executive goals while managing operational demands as the AMS prepares for the next fiscal year. He said some project timelines have shifted due to day-to-day operational needs, but the remaining initiatives are on track for completion by the end of the year.
Parmar added that several major goals have already been accomplished, and that his focus is on ensuring his term “[finishes] strong."
