Quarterly WASFAA Committee Report Executive Council August 8, 2013 Meeting Date Executive Council GoToMeeting Conference Call Meeting Location

Committee Information Committee Name Fiscal Planning Committee Chair(s) (Name, Place Wendy Olson, Whitworth Univeristy, WA of Employment, State) Committee Members  Mindy Bergeron, JFK University, CA  Terri Eckel*, Yavapai College , AZ (Name, Place of Jack Edwards, Stanford University GSB, CA Employment, State, note  new committee members  Frank Green, Travel Institute of the Pacific, HI with ‘*’)  Kevin Jensen*, College of Western Idaho, ID  Sun Ow, Great Lakes Higher Education, CA  Ashley Salisbury, Prospect Education, NV  Jeff Scoffield, University of Hawaii - Hilo, HI  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 the Association Goal 8: Collaborate and coordinate with other organizations and associations in order to serve our members more efficiently and effectively 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 for FY 2013, and Budget Expenditure Request forms for 2013 and 2014 submitted by committee chairs/co-chairs. 2. Establish a balanced annual WASFAA budget for 2014. 3. Monitor WASFAA assets with the Treasurer. 4. Monitor the current WASFAA asset reserve policy. 5. Review the adequacy of the current level of WASFAA insurance coverage. 6. Make arrangements to have WASFAA’s fiscal records reviewed this year. 7. Assist the Historical Archives Chair with the update of the WASFAA asset inventory at least annually. 8. Review fiscal management documentation for WASFAA and update the Policies and Procedures as needed. 9. Develop effective policies regarding the fiscal-related activities of WASFAA. 10. Develop ways to help keep WASFAA’s expenses down but maintain the essential services and quality of service. 11. Make meaningful recommendations to the Executive Council regarding the financial affairs of the Association. 12. Have whenever possible, a Fiscal Planning Committee member participate on NASFAA’s FAC Committee. 13. Review fiscal policies established by other states and regions for ideas to be considered for WASFAA. 14. Collaborate with NASFAA and CASFAA regarding finding possible vendors/sponsors for WASFAA. 15. Look to NASFAA for guidance into grant writing opportunities for WASFAA. (Goal 2- Strategic Action 7)

Summary of Activities 1. Established goals for 2013-14 2. Updated committee membership on website 3. Reviewed Treasurer’s reconciliation documents 4. Established with Treasurer Treasurer’s regular reporting to Fiscal Planning and EC 5. Worked with Treasurer to find our fiscal review accountant, Tracey Corta of Jordan and Co.

Page | 1 Quarterly WASFAA Committee Report Executive Council August 8, 2013 Meeting Date 6. Requested EC to provide budget revision request prior to July meeting 7. 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. 8. Worked with Treasurer to increase number of items listed on the budget to provide better information in the future, for example the conference’s silent auction income 9. Reviewed contracts from Site Selection Committee 10. Developed agenda and documents for review at July meeting 11. Had a meeting of the committee on July 22 by GoToMeeting

Budget Information Approved Budget $100 Budget Expenditures to Date $0

Suggestions for Future Committee

Calendar of Events/Timelines Review reconciliation documents Monitor budget usage. Prepare for upcoming meetings Ongoing Update asset inventory Review goals Support Treasurer-Elect Review and update policies and procedures

Page | 2