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.NameCommitteeSeatP/T/A/E*Comments
1Fadel AlkilaniBC ChairFallP
2Stephanie SarkarBCSpringP
3Raghed Abdel-TawabBCFallA
4OPENFall
5Hannah ShapiroACSpringP
6Zoë HancockAC ChairSpringP
7David WanACFallP
8Jon LiBCSpringP
9Alim MerchantBCSpringP
10Joel BrodyBCSpringA
11OPENSpring
12Malar MuthukumarBCSpringP
13Max RoitblatACSpringP
14Bryan PeltierACFallP
15Jeremy KunenACFallP
16OPENSpring
17Zachary SorensenSpeakerFallP
18Keith NelsonACFallA
19Faith NgundiACSpringT
20OPENFall
21Otto BrownBCFallP

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

  1. Legislation Reaffirming Virtual Meetings
YesNoAbstentionsTotal
120012
DecisionThe 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
YesNoAbstentionsTotal
121013
DecisionMultiple 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

YesNoAbstentionsTotal
130013
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