Finance Committee Meeting

              
              Thrusday,March 27, 2008
              Attended:

              Cole Creighton
              Steve Morse
              Ehsan Kianirad
              Prakash
              Muhammad Shakar
              Madeeha Basharat
              Lauren Nicoll



              

Minutes of the Meeting

1.Guest Speaker- Law Professor Susan Maze-Rothstein a.Discussed option of GPSA funding group "moot court" competitions b.Decision made to alter language of conference funding to include "competition" 2.Budget Allocation for 2009 a.Discussed results of graduate survey b.Looked at projections 10 years out, and decided to allow portion of reserve account to be used if needed to fund conference or group funding c.Changes made to last years budget are as follows i.No change- Line Budget Items: Salaries, Telephone, postage and membership and Dues remain the same at last year ii.Changed- Line Budget Items: Capital Equipment decreased from $1,000 to $500, Supplies increased from $250 to $500, promotional decreased from $2,200 to $2,000, Entertainment decreased from $3,000 to $2,000, Food decreased from $4,400 to $4,000 iii.Programs Funding up from $36,000 to $40,000 iv.Conference Funding up from $40,500 to $63,570 v.Total budget for next year: $121,405 3.Discussed new bylaw wording regarding access to reserve account, all agreed a.Agreed to limit withdrawals to 15% a year b.Also agreed to leave funding wording somewhat vague, to leave room for interpretation depending on E-board in play at the time 4.Summarized meeting and set time and agenda for next meeting 5.Ended meeting ** Did not have a quorum so could not officially vote on anything