Treasury Minutes 8/24/2020

Student Union Treasury

Meeting Minutes

Date: 8/24/20

1. Call to Order

Speaker of the Treasury called to order the Treasury session at 8:00PM CST today on Zoom.

1.  Roll Call

No.	Name	Committee	Seat	P/T/A/E*	Comments
1	Fadel Alkilani	BC Chair	Fall	P
2	Stephanie Sarkar	BC	Spring	P
3	Raghed Abdel-Tawab	BC	Fall	A
4	OPEN	Fall
5	Hannah Shapiro	AC	Spring	P
6	Zoë Hancock	AC Chair	Spring	P
7	David Wan	AC	Fall	P
8	Jon Li	BC	Spring	P
9	Alim Merchant	BC	Spring	P
10	Joel Brody	BC	Spring	A
11	OPEN	Spring
12	Malar Muthukumar	BC	Spring	P
13	Max Roitblat	AC	Spring	P
14	Bryan Peltier	AC	Fall	P
15	Jeremy Kunen	AC	Fall	P
16	OPEN	Spring
17	Zachary Sorensen	Speaker	Fall	P
18	Keith Nelson	AC	Fall	A
19	Faith Ngundi	AC	Spring	T
20	OPEN	Fall
21	Otto Brown	BC	Fall	P

* P – Present     T – Tardy     A – Absent     E – Excused

1. Legislation Reaffirming Virtual Meetings

Yes	No	Abstentions	Total
12	0	0	12
Decision	The legislation was passed

Decision Rationale:

The COVID-19 pandemic has mandated that all SU meetings take place virtually.  However, under the current stipulations laid down by Robert’s Rules of Order, the legislative bodies are not allowed to hold meetings virtually.  Exec Council, under the SU Consitution, met in place of the legislative bodies and passed legislation that would allow the legislative bodies to meet.  Treasury confirmed this legislation in order to enable itself to continue functioning during the pandemic.

1. General Budget Revision

Yes	No	Abstentions	Total
12	1	0	13
Decision	Multiple revised budgets were passed, the specific budget used will be determined off of final enrollment numbers

Decision Rationale:

The COVID-19 pandemic has wrought havoc on the budget that was originally passed in March for the upcoming school year.  As such, the budget was heavily modified in order to minimize costs such that enrolled students would be paying as low a SAF as possible.  In order to accomplish this, virtually all funding was cut save for essential costs such as contractual and overhead costs.  Depending on various levels of enrollment, different budgets were created and the budget to be followed for fall 2020 shall be the budget with the anticipated enrollment closest to actual student enrollment for the Fall 2020 semester.

1. Carryforward Account Transfer

Yes	No	Abstentions	Total
13	0	0	13
Decision	$170,582.14

Decision Rationale:

In order to supplement the projected revenue SU anticipates receiving from collecting Student Activities Fees, $170,582.14 will be taken from the carryforward account and used to cover costs during the Fall 2020 semester.

1. Updates

Speaker and Committee Chair:
Treasury applications will soon be going live.  The first day of the Activities Fair was a massive success; I will send out the volunteer sign-up link so please sign up if you have time.	Zach(Speaker)
The new group recognition process was revamped for Category 5 groups as we had noticed that it was too difficult for groups to get off the ground and attain Category 5 status.	Zoë(AC Chair)

Exec:
I will be sending out an all school email just before school starts so please send me any updates you want sent out to me before then.  Congrats to Philip who was elected our new CRE Chair.	Ranen(SUP)
Entity leader spotlights have been going live on the Instagram and please stay tuned for a recruitment video going live soon starring a bunch of you guys!	Anne(EVP)
Please stay off of SU Finance until we tell you it is ok as it may mess up our transition to WUFIN.	Alexa(VPF)

Advisor:
I am sending out the campus-wide programming guide in the chat, please make yourselves familiar with the guidelines laid down as they pertain to all programming occurring during the pandemic.	Peggy

1. Adjournment

Session Adjourned At:	10:22PM
Minutes Submitted By:	Bryan Peltier
Minutes Approved By:	Zachary Sorensen