Finance 9-24-2012

MEETING START TIME: 4:01pm

ATTENDANCE: Stewart, Weinreich, Sit, Nowinowski (Murphy was late 4:06pm)

COMMITTEE DISCUSSION:

 

Club Instruction Fees

 

  • Stewart- Only 5 clubs are budgeted for instruction
  • Senate wants a fair and equal precedent across the board
  • Ballroom – $3000
  • Only 12 people though
  • Scuba Club – coming to request money for instruction (3750)
  • Stewart – if it’s budgeted, don’t need to reapply to get the funds

o   Go through a purchase req. and payment order to get access to the money

  • Email sent earlier – sent about half an hour ago

o   Stewart – email sent about a new

  • $500 for instruction for entrance course = open water

o   Student members pay $250 = 50%

o   15 ppl in the current class

  • 12 in the pool
  • 3 in a separate class with the instructor (couldn’t make Tuesday nights) ~ express class

o   Most expensive of the courses

  • There are advanced classes too but members have to pay full rates since it’s quite reasonable.

o   Advanced classes are cheaper than the entrance course

  • Stewart – very glad they came got all the information we needed

o   Lorrie was worried since Scuba had an event coming up soon.

 

 

Inventory Tech

 

  • Was in the office this week

 

 

Good 5 Cent Cigar

 

  • Deficit of $24,000 dollars as of last year
  • Last year, they only had $9,000 for stipend

o   Under Holzman, they now have $20,000 for stipends

  • They have required positions

o   Business Manager

  • They don’t collect debts for advertisers

o   Lorrie showed a big log of uncollected bills

o   Cigar has not been good with collecting debts

  • Last year they had a good accountant but still down $24,000
  • We give them $90,000 every year
  • Business Plan
  • Get the Newspaper to audit their accounts and see what they can collect

o   Weinreich – We should run it as a business not as a bailout happy bank

  • Let’s hear from them before we make a decision.
  • Stewart – Ideally they should have incentive to get a good business going

 

 

Handbook

 

  • We don’t need to go over it since the bill already went out to the floor
  • Weinreich – wondered if anyone came up to pose questions

o   Stewart – nope nothing

  • Equipment for a presentation to Senate
  • Need the cords to connect the computer to the projector

o   Weinreich, Sit, Murphy – We’ll bring laptops and HDMI cords.

o   It will happen – there’s enough tech knowledge here to get it done.

 

MEETING ADJOURNMENT TIME: 4:18 pm