Ryerson is going to withhold most of the fees it transfers to the Ryerson Students’ Union (RSU) until an audit of the student government’s finances is complete, according to an official statement made by the university Wednesday night.

In the statement, the university clarified that the RSU “is a separate corporate entity from Ryerson University” and is responsible for the actions of its own members.

The statement was released after the RSU’s executive members and board of directors met with senior members of Ryerson the afternoon of Jan. 30. Ryerson is requesting the RSU’s board complete a forensic audit, share the results of the audit with Ryerson University and renegotiate the terms and conditions of the fee transfer process between the university and the RSU to ensure good governance and accountability.

(Peter Goffin/Ryersonian)

The university said it is “encouraged” by the meeting that took place, but most fees normally collected from students and transferred to the RSU will be put on hold until the recommended steps from university administration are completed. The university will continue to turn over “funds necessary to meet the RSU’s operational obligations.”

Previous reporting from the Ryersonian said that several RSU board members have been calling on president Ram Ganesh to resign, after credit card statements that indicated significant misspending surfaced Jan. 24.

Charges included $3,500 spent at Toronto bars and nightclubs, $900 spent at the LCBO and $3,000 at a credit risk management company.  

RSU financial controller Dharshini Jay has given executive members a deadline of Feb. 1 to reconcile finances. An emergency RSU board of directors meeting has also been called for the same day.  

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