Committee Minutes, Wednesday, March 24th 2004

Chairman Mark Matthews submitted the following report on Friday, March 26th 2004, on behalf of the Committee on the Budget, and pursuant to its Wednesday, March 24th 2004 recommendations:

Attendance:

There were six (6) Members (Dworkin, Efe, Lester, Matthews, Spencer, Stephenson) present.

There were two (2) Members (Pearce, White) absent.

A quorum was present.

The following officials were also present: Fabricius, Langley, Mital Patel

Meeting Minutes:

The committee discussed recommendations that had been made by the Select Committee on the General Trust for adjusting budgeting procedures in a way that will both rapidly reduce the General Trust and provide a sustainable plan for the long-term that will ensure that the general trust does not build back up far beyond the minimum balance.

The committee went over the previous year's budget and agreed conceptually for some changes, discussing stipends and operational expenses. Legislation will be introduced by Treasurer Lester and Senate President Pro Tempore Matthews to be referred to the committee to consider, amend, finalize, and report.