Committee Minutes, Thursday, October 1st 2009

Senator Johnathan Tucker submitted the following report to the Student Senate on Thursday, October 1st 2009, on behalf of the Finance Committee, and pursuant to its Thursday, October 1st 2009 recommendations:

Attendance:

There were four (4) members (Green, O'Donnell, Robinson, J. Tucker) present. There was also one (1) non-voting member (Lamm) present.

There was one (1) member (Humphrey) absent.

The following official was also present: Rogers.

A quorum was present.

Meeting Minutes:

October 2nd 2009
Finance Committee Meeting
Members Present:
Tucker, O’Donnell, Robinson, Wilkie, Green: quorum was present
Guests :
Rogers, Hayes , Compton, Sevits, Gonzales, Lamm, Demanovich, Rennaker, Patel
Meeting was called to order at 7:00pm.
Mr. Compton spoke regarding Homecoming. 2 budgets were provided one without additional SG funding and one with additional SG funding. Mr. Compton stated that the original request for $9,000 was in error and the correct amount that should have been requested was $4,000.
The current budget (with additional SG funds) presented is without an additional $5,000 from the Alumni Association, funding from T-shirt sales, and ticket sales from the general public. “New Fundraising” from the previous budget was explained as $5,000 from two companies. IFC and UBA have elected not to fund Homecoming this year. Wear Red Get fed cost ~ $8,000 for the week. Homecoming has elected to not award cash prizes to winning floats. Homecoming provides all the paint for Paint the Town Red. The entire remaining budget was explained line by line.
Items of note have been included.
Publicity: $5,000 for 1,500 t-shirts and $2,000 for mass media advertising.
Pack Howl: ($52,000) head line band $13,5000, Stage $2,700 and a booking fee of $2,000, 2 bands were discussed due to the nature of the information the names will not be reflected in the minutes. Members and guest were asked to not disclose the information.
The Second budget (without SG funds) ($48,000) funding for bands will be decreased to ~$5,000, lowering the caliber of bands available to local bands.
Mr. Compton gave a brief history of SG funding for homecoming stating that the year he first joined Student Senate SG funded Homecoming ~$15,000. Funding had decreased as the AA funding increased. He stated that last year Homecoming went $30,000 (of a $90,000 budget total $120,000) over budget with the AA making up the difference. Mr. Compton stated that he plans to change the way Homecoming is funded hoping to get a fee to pay for Homecoming to prevent the need to fundraise so aggressively.

Questions:
Sen. O’Donnell asked regarding tickets, Mr. Compton explained the ticket fee(s) and advertising costs
Ms. Rennaker asked regarding general public attendance to concert. Mr. Compton stated that $8,000 was spent on advertising to general public with ~200 people attracted.
Sen. O’Donnell asked regarding new fundraising Mr. Compton stated that no new fund raising would be coming in.
Sen. Tucker asked regarding Zack Brown playing with out a booking fee. Mr. Compton stated that it would not be able to have Zack Brown without a booking fee.
Sen. Green raised concerns regarding the (*****) Mr. Compton said that he felt there would be enough advertising to get people to attend. The (*****) would be accompanied by two smaller local bands to augment the night.
Sen. Tucker asked regarding the conversation Mr. Compton had with the chancellor about Homecoming. Mr. Compton listed a number of options including a student fee and possibly joining with Athletic
Sen. Tucker expressed the concern of the committee regarding overages on the budgets from last year. Mr. Compton explained the budget from last year and this year.
Sen. Robinson expressed concern over the budget overages. Ms Rennaker and Mr. Compton explained how the budget from last year went over last year.
Trea Lamm expressed his approval of the new budget and funding additional the additional amount
Sen. Green expressed her concern regarding weather and watching (*****) with Nov 1-Nov 7th, there is currently no back up plan for weather.
Sen. O’Donnell asked regarding past Homecomings and the amount of money made/lost. Mr. Compton stated that in the past years they have; broken even, lost $10,000, lost an unknown amount of money, broke even, a small loss/slight profit, broke even, lost $30,000 each time the AA has covered the cost. This is not possible this year due to a lack of membership and lack of endowment funding.
Ms. Rennaker asked regarding ticket sales and whether or not ticket have been for sale. Mr. Compton stated that tickets have always been for sale and that has lead to an amount of risk.
Sen. O’Donnell asked regarding the error for $9,000 request, the error was explained to the committee by Mr. Compton.
Sen. Demanovich asked regarding the lack of funding from UAB and IFC. Mr. Compton stated that he could not answer why the two groups did not give funding.
Sen. Green expressed her dedication to providing a quality event for our students and that we should provided for our constituents.
Sen. Wilkie stated that (*****) would be more marketable than other acts.
Ms. Rennaker asked regarding SG funding. Mr. Compton stated what a sponsor at the $10,000 level would garner. She also asked regarding mass media advertising for the event.

Sen. Tucker motioned that $1,500 be removed from Finance Committee Disbursement Fund and $2,500 from the Surplus and to be given to Homecoming with the intent to fast track a bill written by the committee for the October 6th Senate meeting. Mr. Compton stated that he attend the Senate meeting.
Sen. Wilkie 2nd
Vote 3-1-1
The bill when written will be reported favorably to the Senate. The bill will be written with the intent to fast track. Sen. Green, Tucker, and Wilkie will be sponsoring Senators.

Closing Roll Call
Wilike, Green Robinson, Tucker O’Donnell
Meeting Adjourned 8:10pm