Save the completed report using Committee title and date ( example: WASFAA_JRSMLI_Oct_2.doc ).
Submit your report via email to the WASFAA Executive Council listserv and post a copy to the Committee
webpage on the WASFAA website.
Quarterly WASFAA Committee Chair Report
Executive Council Meeting Date
Executive Council Meeting Location
February 20-21, 2014
San Diego, California
Committee Information
Committee Name
Fiscal Planning Committee
Chair(s) (Name, Place of Employment, State)
Wendy Olson, Whitworth University, WA
Committee Members (Name, Place of
Employment, State) Please put an asterisk next
to first-time committee members.
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Mindy Bergeron, JFK University, CA
Terri Eckel*, Yavapai College , AZ
Jack Edwards, Stanford University GSB, CA
Frank Green, Travel Institute of the Pacific, HI
Kevin Jensen*, College of Western Idaho, ID
Sun Ow, Great Lakes Higher Education, CA
Ashley Salisbury, Prospect Education, NV
Jeff Scoffield, Seattle University, Seattle, WA
Leonard Walker, University of Nevada – Reno, NV
Committee Goals
Strategic Plan Goals that are being met (check all that apply)
Goal 2: Maintain the long-term financial stability of WASFAA
X
Goal 8: Collaborate and coordinate with other organizations and associations
X
Committee Goals
Specific Committee Goals (include progress toward goals and measurement of success)
1. Monitor the annual WASFAA 2013 and 2014 budgets including the review of Committee/Activity Budget Revision
Request forms. Done and ongoing
2. Establish a balanced annual WASFAA budget for 2014. Done
3. Monitor WASFAA assets with the Treasurer. Ongoing
4. Monitor the current WASFAA asset reserve policy. Ongoing
5. Review the adequacy of the current level of WASFAA insurance coverage. Done
6. Make arrangements to have WASFAA’s fiscal records reviewed this year. Done
7. Assist the Historical Archives Chair with the update of the WASFAA asset inventory at least annually. Ongoing
8. Review fiscal management documentation for WASFAA and update the Policies and Procedures as needed.
Ongoing
9. Develop effective policies regarding the fiscal-related activities of WASFAA. Ongoing
10. Develop ways to help keep WASFAA’s expenses down but maintain the essential services and quality of service.
Ongoing
11. Make meaningful recommendations to the Executive Council regarding the financial affairs of the Association.
Ongoing
12. Have whenever possible, a Fiscal Planning Committee member participate on NASFAA’s FAC Committee. Ongoing
13. Review fiscal policies established by other states and regions for ideas to be considered for WASFAA. Done
14. Collaborate with NASFAA and CASFAA regarding finding possible vendors/sponsors for WASFAA.
Summary of Committee Activities
1.
Established goals for 2013-14
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Quarterly WASFAA Committee Chair Report
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Updated committee membership on website
Reviewed Treasurer’s reconciliation documents on a regular basis
Established with Treasurer Treasurer’s regular reporting to Fiscal Planning and EC
Worked with Treasurer to find our fiscal review accountant, Tracey Corta of Jordan and Co.
Requested EC to provide budget revision request prior to July, November and February meetings
Adjusted the budget for line items that needed additional funds, including deposits for future year contracts.
These were offset by reduction in other line items.
Worked with Treasurer to increase number of items listed on the budget to provide better information in the future
Reviewed contracts from Site Selection Committee
Developed agenda and documents for review at July, November and February meetings
Had a meeting of the committee on July 22 by GoToMeeting
Updated the historical revenue report with year-end numbers
Continued to review WASFAA’s policies and procedures as it relates to fiscal planning
Contacted WFAA Treasurer for more information about his fiscal policies that were recently established
Reviewed insurance contracts for WASFAA
Measures Tracking Tool Data Collection Information (Include required
Measures Tracking Tool data collection information to help determine progress toward Strategic
plan goals/activities that are the responsibility of your Committee. See Appendix F of the current
WASFAA Strategic Plan for guidance.)
Goal 2
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Balanced budget maintained for 2013. Zero amount of asset reserves utilized.
Asset reserve is maintained at 2 times most recent three-year average.
Budget comprised of more diverse sources of revenue – added auction at conference.
Investment policy & strategy reviewed and updated.
Annual review of membership dues and fiscal policies. Membership dues completed, policies IP.
Budget Information
Approved Budget
$100
Budget Expenditures to Date
None
Calendar of Events/Timelines
Ongoing
Review reconciliation documents
Monitor budget usage
Prepare for upcoming meetings
Update asset inventory
Review goals
Obtain suggested rates from various training event chairs with plenty of time prior to event so can advertise
Support Treasurer & President as needed
Review and update policies and procedures
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