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Governance
| Finance
Committee Minutes 1/24/08 |
| Day
and Time: |
Thursday,
January 24, 2008, 9:12a.m. to 10.51a.m. |
| Members
Present: |
Robert
L. Goecks, Warren Ruppel, Mark P. Stone and Richard E. Piluso |
| Presiding
Officers: |
Richard
E. Piluso |
| Via
teleconference: |
Katharine
K. Doran and Philip G. Westcott |
| Staff: |
Suvro
Banerjee, Louis Grumet, William Pape and Omar Sable |
| Location: |
NYSSCPA
Offices, 3 Park Avenue, 18th Floor, Room 4
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Mr. Banerjee began with a presentation of the FY
2009 budget that led to discussions on the following:
- Dues
Adjustment:
-
In keeping with the Board policy from years past,
the dues increase was budgeted at a 2% increase in
each dues class; a corresponding 2% increase in each
membership class was also budgeted.
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It was noted that many Chapters do not conform to
the requested timeline for submission of their monthly
packets to the Accounting Department; and that some
of the submissions do not include all the necessary
information.
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The
Finance Committee was presented with the budget vs.
actual figures for FY 2006 and FY 2007 for each Chapter’s
revenue and expenses. The Committee discussed the
differences between budget vs. actual for each year;
and decided to use the FY 2007 actual figures as each
Chapter’s respective FY 2009 budget rather than
the budget figures submitted by the Chapters.
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Philip G. Westcott motioned to approve the budget
as amended; Katharine K. Doran seconded the motion.
The committee approved the budget unanimously.
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A discussion ensued regarding how the Society Investments
would be monitored in FY 2009.
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The
committee decided to meet once more to discuss the
CAP; and how members are selected to serve on the
Finance Committee. The Committee recommends that
all members of the Committee be members of the Board
of Directors. Chair Piluso stated that he would
let the Board of Directors know the Committee’s
recommendation.
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Dick
Piluso asked the committee to review the November
financial statements carefully
Respectfully
submitted by Omar Sable and Suvro Banerjee
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