<p>Finance/Budget & Planning Committee Meeting Date: June 16, 2010 Location: Staff Lounge – 12:45 p.m.</p><p>MINUTES </p><p>Present: Peter Allan, G.H. Javaheripour, Mark Zacovic, Sheri Nolan-Foster, Chris Grover, Virginia Moran, Mary Pringle, Deedee Orta, Mark Clair, Jennifer Larriva (guest) and Shirley Snell-Gonzalez (recorder)</p><p>Absent: Debby Blanchard, Pearl Bandringa, Arlene Greene, Gary Menser, Khalid Rubayi and Joe Range</p><p>I. The meeting was called to order at 12:50 p.m. by Chris Grover for Peter Allan, chair.</p><p>II. Minutes of the May 26, 2010 meeting were approved as written. Deedee noted that an “Absent” portion has been added as requested at the last meeting.</p><p>III. Budget Update – G.H. reported that Jon Chaing, State Controller, indicated that the state budget deadline (June 15) had passed without an approved budget - which now forces him to make hard decisions about payments. The update to CEO’s from Eric Skinner from CCLC talked about the possibility of no growth and $150M hit which translates into a possible negative 2%. GH will be meeting with his staff to review cash on hand and discuss how VVC will proceed. In addition, PERS cost of employer rates were increased from 9.7% to 10.2% for next year. This is an additional ½% that needs to be added into the working budget.</p><p>IV. Budget Augmentation Process – Deedee distributed a spreadsheet of the 2010-2011 General Fund Budget Augmentation Requests. A change has occurred in that “Travel” funds will be dispersed through the department Vice President. Deedee asked if the committee would like to implement a process due to this change. Deedee will work with staff to refine the listing and extract “mandatory/necessary” expenditures, on-going or one time requests and will bring to the next meeting for additional review. GH pointed out that a budget needs to be provided to the Board of Trustees as direction from them is critical.</p><p>V. Other – Mark Zacovic asked if there was a plan to spend the $55 million bond funds. Discussion ensued as to having spent $1 million on main-campus beautification projects, but a specific plan has not been given, partially due to a change in the presidency.</p><p>VI. Next meeting – the next scheduled meeting is Wednesday, July 7, 2010.</p><p>VII. Adjourn – the meeting adjourned at 1:45 p.m.</p>