Following a $250,000 spending scandal involving Ryerson Students’ Union, the president of Ryerson University has asked to meet with the school’s student union about allegations of financial mismanagement as a deadline for them to explain a credit card bill approaches.
“Protecting the interests of Ryerson students is of primary concern to the university,” reads an email statement from the school’s administration.
The two men at the centre of this scandal are student union president Ram Ganesh and vice-president operations Savreen Gosal. Some of the many questionable expenses making up that incredibly large amount includes purchases at LCBO locations, a shisha lounge and a credit risk company in Stratford.
The expenditures allegedly date back to May 2018, when Ganesh began his term as president.
News reports suggest that after Ganesh and vice president Savreen Gosal took over the student union’s credit card they began using it or rather abusing it.
The financial statements must now be reconciled by Feb. 1, according to a deadline handed down by the student union’s financial controller. Ganesh agreed to the date during a union meeting on Thursday evening.
“We’re going to meet our deadline of Feb. 1 to hand in our reconciliations to give the students a more wholesome picture of the current financial standings,” he said, according to reporting by The Eyeopener.
While the credit card purchases have not been proven to be illegitimate, union members and school reporters say there have been a number of concerning developments since the current leadership group took office.
Ganesh fired the union’s former general manager which allowed him and Gosal to take control of the credit card account.
Red flags were raised after the student union failed to release its quarterly financial statements in late 2018.
The question on the mind of any outsider hearing about this spending anomaly would wonder how on earth was there no oversight built into the system. How could two individuals be allowed to rack up such incredible amounts with no questions asked.
During the previous president’s term, the union had an approximately $2,000 limit on discretionary spending, and that all other purchases would have to be approved by multiple executives. The rules appear to have changed with the new head. -CINEWS