Treasury Minutes 10/13/2020

Student Union Treasury

Meeting Minutes

Date: 10/13/2020

  1. Call to Order

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

  1.  Roll Call
1Fadel AlkilaniBC ChairFallP
2Stephanie SarkarBCSpringP
3Raghed Abdel-TawabBCFallP
4Justina GuoACFallP
5Hannah ShapiroACSpringP
6Zoë HancockAC ChairSpringEExcused by Speaker
7David WanACFallP
8Jon LiBCSpringP
9Alim MerchantBCSpringP
10Joel BrodyBCSpringP
11Mishka NarasimhanACFallEExcused by Speaker
12Malar MuthukumarBCSpringP
13Max RoitblatBCSpringP
14Bryan PeltierACFallP
15Jeremy KunenACFallP
16Jordan WagnerBCFallP
17Zachary SorensenSpeakerFallP
18Keith NelsonACFallA
19Faith NgundiACSpringP
20Melinda XuACSpringP
21Otto BrownBCFallP

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

  1. Swearing in of New Treasury Representatives 
    1. Representatives Sworn in by Chief Justice Ethan Tuby:
      1. Justina Guo
      2. Melinda Xu
      3. Jordan Wagner
  2. Financial Restructure Update
    1. Presentation of the new financial overhaul by the Vice President of Finance Alexa Jochims: Link
    2. Q&A/Discussion
Bryan: Given appeals will become more common, is there any thought behind lowering the cut-off between what Treasury sees and what the VPF sees?Want to see how many events student are being held under the $1000 amount to make a decision. Want to make sure not to drain too much time, but will make decision-based on the current situation. If we have reps who help out with the decision making, it will mitigate some of the issues faced in making the decisions by the VPF
Otto: Looking back at the presentation, it seems most groups will be in 1 or 2. Who will be in category 3/what is the reasoning behind having it?Category 3 would be for the groups who do not need funding/do not want funding. This group would be aimed at the groups who want the resources of SU and not necessarily need funding. With the new AC process of approving groups, we would have many groups moved into this category since we would have many groups who are not in SU for funding be in SU’s Category 3.
Max: Could you explain the rationale for switching from 5 to 3?Alexa: Goal is to streamline the process of budgeting through flat funding access, etc.Bryan: current process has groups to have to wait for a longer time to jump categories, so this process we would be streamlining the processFadel: Current process has the difference in funding is a negligible amount, thus it does not really make sense for us to delineate funding differences between them
Otto: Is there a number in mind for flat funding?Not yet. Still working on it.Ideally, 3 things we need to know what that sweet spot is: 1. Getting back info from groups on what they think 2. Use SU finance to figure out how much student groups used for supplemental events/how many supplemental events they had 3. Determine if flat funding is the best way to go
Malar: Couldn’t we just look at the number of people that show up to the events to figure out the amount for funding?For certain groups we can tell for certain who is in the group (sports clubs, etc.). We could also observe the WUGO list. We may have WUGO check-ins. Our priority is to provide the most relevant numbers in funding amounts.
  1. Open Forum
Civic engagement (again): election is soon, you can still register in some states, if you want to request a ballot do it ASAP. If you need a notary, sign up for a notary (or talk to Otto who is one)Otto
  1. Updates
Speaker and Committee Chair:
Next week we will have a vote on late November Election rule changes/voting changes. We may have appeals afterwardZach(Speaker)
N/AZoë(AC Chair)
No BC this semester in terms of looking at budgets (since we do not want to waste the time of BC members in looking at budgets that end up not even mattering due to WU restricting spring activities). Preparing a presentation that gives a fundamental understanding SU’s monetary system, also looking at what future analysis of budgets should/could look likeFadel(BC Chair)
Started convos with University on what the Spring will look like, will probably need a GB part 3 that looks at what fees will look like, etc.Alexa(VPF)
Plugging the STL Engagement Project: project empower students to help those in marginalized communities in STL – want to use SU’s management of student groups to help coordinate the project. Looking for reps to be members of the working group interest form:
Updates on Senate (what committees are on senate). Availability for Reps to jump on meetings and be involved with the committees: of Senate)
Campus Life updates: office hours have changes M-W 1pm-5pm. Must go through the first-floor door. 2 new grad students will be working with Frats & Sororities. New advisors & other advisors returning.Looking to hire a new professional staff memberJanice
  1. Adjournment
Session Adjourned At:9:20PM
Minutes Submitted By:Raghed Abdel-Tawab
Minutes Approved By:Zachary Sorensen