Special Finance Meeting Minutes
Finance
Meeting Time and Location: RH: 105 May
- 28, 2015 at 1:17pm
‐
I.
Preliminary Items
A.
Call to Order at 1:17pm
1.
Members Present:
a)
President, Jimmy J. Johnston
b)
Treasurer, Blanca Per
c)
Student Rep, Harold Lewis
d)
Secretary, Susana Nieva
e)
CFO Chair, Bill Gaper
f)
Dean, Dorothy S. Smith
g)
Secretary, Susana Nieva
(1)
Quorum is established
B.
Move to adopt the minutes May 19, 2015
1)
2)
3)
I.
-
sitting in – Charles Greene
-
sitting in – John Elbey
- Representative, Elizabeth B.
Dean S. Smith Motion to approve the Minutes for May 19,2015 at
1:20 pm
Dean, Smith - Seconded with correction 1st sheet on second side
introduction and reports Harold Lewis (Spelling error) r-e-g-i-o-n
No Objection, Motion Passes
Public Comment on Non-Agenda Items
No comments
II.
Introductions and Reports
A. Treasure Blanca – I meet with Bill Gasper this Wednesday at 8:00am. He tried
to get me access to Quick Books but the IT department is having trouble getting
everything together, so I have to wait longer. We talked about the procedures
on the proposal for the request of funds to ASO and we need to follow the srags Student Regulation from 4, 5,6,12 and 13 that apply to the procedure that
we have to follow for the request of funds. We need to have invoice or receive
that have the same amount that is being requested, the amount have to match.
I came across with several issues, but that I will talk to the individuals.
B. Dean Smith – I had meetings with Bill Gasper, when we launch the new process
for the finance committee to have some structure, if we run up against some
issues across, if is not the exact amount whatever the lower price is, we will
pay, is something less obvious as it relates to the problems we have with the
district and the audits.
C. John Elbey – working with Mr. Charles and Baye, my goal is to get a positive
name to ASO, my thing is to put positive events for ASO.
D. Secretary Susana – I’ve been doing my duties and I spoke to Christian Galeno on
the previous missing minutes. He said he was going to email me what he had,
but I haven’t receive anything yet.
E. Elizabeth, Rep of Bill Gasper – I distributed the ASO Financial Statement for
May 14, 2015. So far ASO is earning income compared to the previous year. Set
aside parking income through the ASO funds since then we can see a profit for
the ASO funds. The first column is the prior year financial statement, the second
is the adopted revenue, which is the budget forecast. The third column is the
actual Revenue which is the actual money we get, through the ASO fees, interest
income time deposit. Last column is the difference between the actual revenues
verses the budget, it shows that we are still short $2,462 for the ASO
membership income but we will recover the amount of $2,462 by the end of
June. So the total revenue we have for the actual is $89,223.13 as of May 14,
2015. On the second part of the expenses you can see the actual expenses on the
third column, on the second we have the budget, on the third we have the Actual
and on the last one we have short or over, short means we already exhausted the
funds set aside for the awards and banquets, we still have money like in child
development we have $456.
F. Dean Smith – 2014/2015 that we look straight down, we started with $89,223.13
this is actual expenses. everything on the revue part one is base 100’s, next one
down is how many the account been identify by 4,5,6,7, down the column under
2014/2015 the total expenses are $53,288.67. We expended $53, 288.67 out of
$89,223.13, which means we have around $33.000 to spend.
G. Elizabeth B. - turn page 2014-2016, on the first column is the ASO Income, is
separated from the Rep. Fee Income. The ASO Income is the seven dollars fee
ASO Members pay. The Rep Fee is the number one dollar per student fee
according to the Rep Fee Income there is $27, 691.05. We collected $61, 532.08
for the ASO income, the total expenses for the ASO Income is $32,819.28 that
leads us with ASO Income balance of $28,721.80. Rep Fee Income the total as of
May 14, 2015 is a total 27,691.05 and that money is only spend on workshops,
conferences etc. Out of that $27,691.05 we spend $20,469.39, which we have a
balance of $7,221.66, which equals to $35,934.46 minus $7,221.66 because that
money can only be spend on conference workshops etc. our real money is
$28,712.80.
H. Treasurer Blanca – is the $17,000 included here (ASO Budget Report).
I. Elizabeth B - $17,000 is for fiscal year 2013-2014, is not for this current year
2015. 17,000 will go to undesignated funds. Undesignated funs is where the
money that is not spent goes with the $80,000 funds.
J. Dean Smith – how do we get our $17,000, what is the process so we can start
asking for our money.
K. President J. Johnston Rep. Charles Green - was actually $22,000 but they only
found $17,000.
Elizabeth Rep. - As a suggestion since the money came from 2013- 2014 if we
would do the right proper accounting procedure there should be included on the
previous year not this current year. But on your new budget include the
$17,503.15, the money would be included for the on the current year 2015-2016.
We got the $17,000 I deposit the money on May 26, 2015, is in the ASO bank
account, but is not included as income because it belongs to previous year. On
the project projection include the $17,000 for the current year 2014-205 without
distorting the financial statement of ASO.
L. Dean Smith – we did is in the minutes for the $17,000 to roll over to the incoming
year 2015-2016. Our budget income for 2015-2016 is around $101,063. As a
committee we need to get together and determined what line items go where for
our upcoming year. $80,000 we still have access so we can update, we set
$50,000 for ASO renovation.
IV.
Old and New Business
President Jimmy Johnston has arrived at 2:07pm
A. Dean Smith – Motion to approve item A, Finals Give Away of $1500 from line
497, College Wide activities
1) President, Jimmy Johnston – Seconded
2) No objection, Motion Passes
B. John Elbey – Move to postpone item B, ASO Summer Fest, until incoming new
board
1) President Jimmy – seconded
2) No objection, motion passes
C. President Jimmy Johnston –Move to table item C ASO Stipend Pro-Rate until
next Finance Meeting
1) Dean Smith – seconded
2) No objection, motion passes
D. Dean Smith – Motion to table or combine with another item, item D, ASO
Semester Dinner Event
1) President Jimmy – Seconded
2) No objection, motion passes
E. President Jimmy – Move to allocate $50,000 for ASO Renovation from budget
$34,000, undesignated funds fiscal year 2014-2016.
1) Dean Smith - seconded
2) No Objection, motion passes
F. President Jimmy Johnston – Motion to move $4,444.80 from line 503,
conference to line 459, Awards and Banquets
1) Seconded
2) No objection, motion passes
G. President Jimmy – Motion to combine items F, ASO Jackets, with item G,
Awards and approve one total of $5000
1) John Elbey – seconded
2) No objection, motion passes
H. President Jimmy – Motion to postpone items I and M to next agenda.
1) Seconded
2) No objections, motion passes
I. Dean Smith – Motion to move $300 from line 535, Dean’s
Teas/Reception/Awards, to line 545, College Transfer.
1) Seconded
2) No objection, motion passes
J. Dean Smith – motion to move item 664, Public Relations-ASO, to line 661, and
approve printing for the ASO new board members business cards.
1) John Elbey – Seconded
2) No objection, motion passes
K. Jimmy Johnston – move to support the BSU with $6000 for their events under
assumption that the contractors will accept payment after their duties, from
account line 497, College Wide Activities.
1) Seconded
2) No objection, motion approved
L. Dean Smith – account line 781, and 783 not to be touch, we have to pay the
secretary and Treasurer, Blanca
M. President Jimmy – move to allocate $1000 for Deaf Day, Magic Mountain from
lines 525, Multi-Cultural Activities
1) Seconded
2) No objection, motion passes
N. President Jimmy – Motion to move $1000 from line 551, Equipment Purchase,
to line 525, Cultural Activities-Multi
1) Seconded
2) No objection, motion passes
O. President Jimmy – items to be table J, ASO Cameras, H, ASO Laptops, K, ASO
Meeting Greet, L, ASO Xbox.
1) Seconded
2) No objection, motion passes
VII. Public Comments on Non-Agenda Items
A. Comm. Of Fundraising John Elbey - Bring it all together the
Appreciation Dinner
VIII.
Advisor Comments
IX.
Future meetings
President Jimmy Johnston – We do not meet during finals
X.
adjourned at 2:35pm