Finance 10-2-18

MEETING START TIME: 6:32 PM

ATTENDANCE:

Committee: Feeney, Lachance, Vutech, Pelisson, Palmer, Taylor

Absent: None

Non-Committee: Howard, Gall

COMMITTEE DISCUSSION:

Topic 1: CSIC Contingency Grants
- The Crew Club handed in three out of the five quotes necessary. They claimed that they did not want to waste our time with the full five quotes, as the first two that they received were not worth considering.
- Feeney would like to request the two extra quotes so that the committee may have more information to put onto the floor, if it comes to that.
- Chair says that he is not currently receiving any statements from CSIC pertaining to external accounts. Such statements would be important to look over in order to understand if the club would be able to provide funding for itself.
- Chair asks if the Committee has any ideas as to what we are going to do in terms of coming up with a decision from this contingency grant.
  - Palmer states that he believes that they would only ask for the money if they truly believed that they needed it.
  - Chair brings to light that they do have an emergency account with money in it. They also are not comfortable with taking out another loan, as they are currently paying off a loan for their truck.
  - Vutech is excited at the fact that they are actually fundraising, because he believes that no other club is realistically fundraising.
  - Pelisson motions to push the Contingency Grant of CSIC to the General Senate floor. Vutech Seconds.
    - 6-0-0.
  - Topic 2: PINK Women
    - They would like this Contingency Grant that they are requesting to be a total of $500. It is a book award, and the specifics of this will be touched upon more at the next Finance Committee. Feeney points out that they are asking for an annual amount of $250 (as a part of the greater $500). This would not be allowed, and the Finance Committee would need to discuss this with PINK Women.
  - Topic 3: Cape Veridian Student Association
    - SPECIFICATION: NOT looking to have a contingency grant be their entire budget – this was previously rather misleading. More on this at the next Finance Committee
  - Topic 3:Habitat for Humanity
    - Would like to have an external account before November, which is typically their allotted time for major fundraising.
    - Chair Taylor moves to have an external account be put in place for HFH. Vutech Seconds.
      - 6-0-0
    - Topic 4: Quiz for Finance Committee
      - Chair would like Lachance and Feeney to continue making drafts for the Finance Quiz. This should be up and running on a Google Form by the fifteenth of October
    - Topic 5: Research
      - Taylor requests that Lachance research more into the IRS.
        
        American Student Government Association and the IRS
        
        Numbers, etc. General information by the next Finance Committee meeting.
        
        Feeney should put research into Veterans Association
      - Extra Information:
        
        Feeney provides a question on how many clubs have current external accounts, and how many of those we are currently getting statements on them.
        
        No organization has been handing in bank statements.
        
        Finance Chair stresses that he would like to start opening up the Finance Desk in the office to current finance members.

MEETING ADJOURNMENT TIME: 7:05 PM