Past Due Balances

							                                       MASFAA Board 2008-2009
                                      Finance Committee Meeting
                                             April 17, 2009



Attendees: Rick Shipman, Lois Mulbrook, Diane Fleming, Lori Vedder, Jeff Pethick, Jason Reinoehl, Jim
Broooks
Guest: Vickie Crupper

Lois Mulbrook opened the meeting at 4:15pm

   1.    Vickie Crupper discussed Summer Institute (SI) and went over concerns of registration being
        down considerably. As of today, 38 participants are registered. She is looking for guidance on
        what to do. Core has been purchased, but jump drives, etc. have not. Because of our
        relationship with Baldwin-Wallace (BW) they are willing to work with us and refund the $5000
        deposit. Diane suggested that as of May 1st if there are not 70 registrants then cancel SI.
        Suggested current registrants be contacted and tell them not to make their travel plans yet. If
        they have, MASFAA will reimburse the travel costs. There are only 10 days to double the
        number of registrations. Rick indicated that many schools are waiting to hear about their
        budgets, and it is not a lack of interest, but funds. Vickie has told her committee to not make
        their travel plans. Considering ideas like every other year event, podcasting the event, etc.


   2. Past Due Balances: Lois sent a letter to several staff at a school to get the attention of the past
      due debt owed to MASFAA. No funds have been received to date per Jason. These bills/notices
      were sent to in early April. Only current bills outstanding are from 2008 Summer Institute.
      Discussion as to whether some of these registrants actually attended. Need to discuss what we
      need to do with schools that do not pay. Diane suggested a listing of non-payment schools and
      that MASFAA deny registration to any future events. The database is able to sort by institution
      or person. Holds will be placed on institutions that will deny them registration, but not
      individual membership. Lois will make a motion at the full board meeting on Saturday
      regarding this issue. If passes, Diane will update the policy and procedures manual.


   3. Tax Return Update: Preparer is “busy until April 15th” but Lois will follow up as it is due May
      15th. Does not want to file an extension again. Extensions allow it to be due approximately 2
      1/2 months later. Still seriously considering changing our preparer. Donor Support Chair Janet
      Ingargiola is recommending we leave the exhibitor fee at $2000. This is on the exhibitor
      enrollment form already, requests to continue to have one complimentary registration fee, but
      not the $50 annual membership fee. Brief discussion on Leadership. Where are we with the
      planning? It is to be self-sustaining. Finance decided the $2000 exhibit fee stands as is going
      forward for 2009 conference. Finance would like donor support efforts to bring in $75,000.
4. Reviewed Financial Statements: Income of $22k in income profit is interest/dividend. $44k
   listed as membership dues came in mainly around the 2008 October conference. Membership
   that comes in before the year begins should be put in a “pre-paid” membership and move it
   after the year starts. Jason, Treasurer-Elect will have to watch as the conference registration
   site goes live, to see if registrants are paying two years worth of membership fees. Jason
   inquired about the membership fee being reimbursed if we cancel Summer Institute (SI). Most
   say no, as policy says we do not reimburse membership. However, if someone from SI questions
   it, membership potentially can be reduced, only because MASFAA may cancel SI. Discussion
   took place. Decided that if travel and or registration is reimbursed to registrants they will be
   given the option to keep the $50 toward membership or have it reimbursed. Rick questioned
   where any additional President’s expenses fall. Jeff explained it could be something like a state
   exchange visit or association representation. Discussion of the budget component Association
   Representation.

5. Grant applications – Family Educational Concerns Jeff was able to secure a family donor to
   sponsor all T-shirts for the Family Educational Concerns program when held in Minnesota. The
   donor will be recognized for their donation, and a proper receipt with proper statements
   included. Jason checking with his Development office for this.


6. Reimbursement approvals:
      a. Conference/membership reimbursements – Lois suggests documentation procedures in
         the form of an expense report or something for people that reimburse registrations, etc
         for those that cancel within the reimbursement period. MASFAA needs better way to
         track these.
      b. Monthly bills – ATAC not signed off on every month by Lois. Who should sign off on
         this? This is a bill that is not automatically deducted from our checking. In past, emails
         were sent to Treasurer. Right now for ATAC invoice goes to Michele Saigh, per Jeff, she
         sends it to him and it is covered. Expense form should be used now for tracking.
      c. Honorariums, etc. – need to be sure conference committee tracks these. Consistency
         needed on how these are handled. Needs to be clear to conference committees’ chairs.
         Some checks given at the conference, some invoiced, some indicated on program
         presentation form, etc. Rick recommending that we have a budget item called
         “conference” with sub categories so we can see actual cost breakdowns. Line item will
         be added for President’s Reception event prior to conference. Expense report also
         needs to be updated to include additional categories. Discussion of attachments may
         suffice if provided as some do that already.

7. Reimbursement form – any changes – signature reviews, if anyone has any changes to the form
   let Lois know. Reviewers had questions about the form.
8. Annual Review – Reviewing procedures was very beneficial Lois stated. MASFAA Delgates at
   Large are now the annual reviewers of the accounting records. The continuity of carryover of
   members that participate was well received. Reviewers looked at those items over $1000.
   There were 33 items. The actual Year End Review is the report they will submit. Listed items of
   concern. Some items were lack of some original receipts; dinner per diem of individual versus
   group meals. Refer to hand out on “MASFAA Year-End-Review” for all items addressed in
   report. Each item discussed by Finance in regards to need to implement or further discussion
   needed. For expense items over $5 for which receipt is not provided, such as some tips, an
   additional form will be created and attached to the expense report. Lois will also update the
   expense form to indicate need to complete the additional form.

9. Economic Conditions – talked about what Rick has witnessed at other conferences over the
   year. How to scale back conference, other ideas for board cost savings, etc. Need to form a
   special task force that will focus on cost savings. Will ask Dick to come back with costs of Grand
   Rapids conference hotel and can it be renegotiated if decided to decrease days in attendance.
   Will pull State Presidents in on Sunday morning to have some discussion on this topic.



    Meeting adjourned at 6:50pm