Finance 10-16-18

November 19, 2018

MEETING START TIME: 6:30 PM

 

ATTENDANCE:

Committee:  Cimbal, Feeney, Lachance, Taylor

Excused Absence:  none

Unexcused Absence:  Pelisson, Palmer, Vutech

Non-Committee:  Howard, Gall

 

COMMITTEE DISCUSSION:

 

  • Topic 1: SVO (Student Veteran Organization)
    • The Student Veteran Organization applied to go to a conference, but they do not have their signature cards filled out completely
    • Chair tells them to work on signature cards
    • Finance Committee will hold off on fulfilling their request for money to go to this conference, and will work out the numbers at our next meeting.
  • Topic 2: Ballroom Dancing
    • Organization is requesting funds to go to a competition held at Brown University ○ They have two newcomers, and nine bronze athletes who would be in attendance.
    • They are requesting $ 465, up from the original $405 dollars.
    • They have been to this competition before, it is not a budget specific event. It was not budgeted last year.
    • Chair says that this is something that could easily become a budgeted item, as it happens year-to-year. This may be implemented in the future.
    • Since last year, this organization is up from 2 to 12 people who are going to competitions
    • Competition is the 28th of October,2018. Some haste is requested in terms of fulfilling the Request.

■ Approved ,  4-0-0

  • Topic 3: Transition Materials
    • According to the Finance Chair, he had a terrible experience being in finance when he first started out, thus the TRANSITION materials
    • Finance Meetings used to be far longer, he hopes to keep them short – between thirty and forty-five minutes
    • Detailed reports will be written for contingency requests that are greater than or equal to $3,000.

■ If anything else is noteworthy, a detailed report should also be written. If this is a request that is out of the ordinary, a detailed report should be written.

○ Committee Chair can approve anything < $250. Finance Committee can approve anything < $1,000. All other amounts  must  be sent to the General Senate.

○ Imperfect information is a problem, thus the Detail Reports (as well as the Finance Committee Minutes).

○ The primary question that should be answered by a detailed report is,“What makes this expense note-worthy?”

 

MEETING ADJOURNMENT TIME: 7:10 PM