Committee Minutes, Tuesday, August 21st 2007

Chairman Adam G. Compton submitted the following report to the Student Senate on Monday, September 3rd 2007, on behalf of the Finance Committee, and pursuant to its Tuesday, August 21st 2007 recommendations:

Attendance:

There were four (4) members (Compton, Douglas, McCullough, Storm) present. There was also one (1) non-voting member (Foxx) present.

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

The following officials were also present: Doucette, Whiteside.

A quorum was present.

Meeting Overview:

See Mins

Meeting Minutes:

STANDING COMMITTEE ON FINANCE
Tuesday, August 21, 2007
AGENDA

5:00 PM, Student Senate Hall, 201 Witherspoon Student Center
Sen. Adam G. Compton, Chairman, Presiding

Committee Administrative Business
- Chairman’s Remarks
• Introduction of Members and Guest
• Explanation of Committee
• Explanation of How Committee will work
• Upcoming Issues and Programs
• Potential Meeting Times
• Election of Committee Officers
• Meeting Chair Order

Reports
- Summer Expenditures & Standard Budget Report – Mr. David B. Foxx, Student Body Treasurer Presented budget from past year, budget will be available online, Mr. Doucette Spent money on several different meals, office supplies,
- Audit Status Report- Mr. David B. Foxx, Student Body Treasurer Started by the end of September,
- FY 2006-2007 Ending Cash Balance Issues Report- Mr. David B. Foxx, Student Body Treasurer Money had to come out of reserve, for expenses list such expenses
- Graduate Assistant Job Hiring Report- Mr. David B. Foxx, Student Body Treasurer Hired Anne Achele
- SG Office Manager Report- Mr. David B. Foxx, Student Body Treasurer Cira left, all supplies are being bought through the CSLEPS office, parking permits, working with advisors to have a new office manager, Chief Justice and Personnel committee as a whole, and for see able future we will may not have a person,

I want to be as open and fiscally sound as possible; we are working on having a physical week financial education,

Budget Concerns and Re-appropriation
- Staff Salaries
- Office Manager Salary
- Branch Funding Needs
• Executive Branch- Mr. Bobby Mills, Student Body President
• Legislative Branch- Mr. T. Greg Doucette, Student Senate President ASG, DC Trip, Senate in position to take advantage of everything available, discussed summer funding,
• Judicial Branch- Mr. Lock T. Whiteside III, Student Body Chief Justice Pack Pledge Program needs 2000 will provide a budget for us
• Treasury Department- Mr. David Burton Foxx, Student Body Treasurer 15,000 into appropriations, 5,000 on campus things, Pan African Week, investing in other programs on campus, Financial Education Week, more work study students
• “WITH” Program Funding- Mr. Bobby Mills, Student Body President
Freeze WITH Program –Compton
Second- Diana
Unanimous
• Service NC State Funding- Mr. Bobby Mills, Student Body President
No Bobby

Upcoming Dates and Deadlines
- Monday, July 30, 2007- External groups receiving funding from a budget line-item in the past fiscal year must provide a detailed accounting of the expenditures- Reports Needed
- Sunday, September 30, 2007- Comptroller must present balance of the General Trust and unexpended funds from the previous fiscal yea

Emerging Committee Concerns
- Re-appropriations of Funds
- Past Financial Spending
- SG Audit
- Need for Financial Stability
- WSI Status and Year Plan

Miscellaneous Business
- The committee shall entertain motions to consider any item at this time, with proper notice.

Freeze WITH Program –Compton
Second- Diana
Unanimous

Joe will be an ambassador to the library