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Shared Governance

Finance Council

Co-chairs: Laura Osinski and Mark Thomas, Jr.

Finance Council email

For members, meeting schedule, approved policies, agendas, handouts and meeting notes visit the Finance Council Sharepoint page.

Past reports:

Feb. 23, 2017

The Finance Council scheduled an extra meeting in February to review and discuss the policies they’ve been working on. A health insurance recommendation plus policies for cell phone allowances, dues, memberships and subscriptions, travel and catering and non-travel food purchasing were all thumbed by the Council and will be presented to the Assembly.

The Finance Council met on Feb. 2. They’re working on the 2017-18 budget and working on policies that will help generate revenue and cut costs.

Jan. 19, 2017

The Finance Council gathered on Jan. 19 to finalize the Travel Policy and the Faculty Additional Pay Policy. There’s a “packet” of policies that will soon be sent to the Assembly for thumbing.

They also worked on generating cost-reduction ideas to help reduce the $11 million deficit in the 2017-18 budget.

 

Dec. 15, 2016

The Finance Council met on Dec. 1 and 15 and reviewed work to date on their Dues/Memberships/Subscriptions Policy.

Nov. 17, 2016

The Finance Council (former Fiscal Management and Cost Effectiveness Council) met on Nov. 17. They finalized and thumbed their new charge and forwarded it to the Assembly. IT Council Co-chair Mir Qader attended to discuss the developing Technology Investment Policy.

A Council subgroup is meeting to draft a college-wide policy regarding dues/memberships/subscriptions. The Council will review at their next meeting.

 

Nov. 3, 2016

The Fiscal Management and Cost Effectiveness Council met on Nov. 3 and polished the final version of their updated Charter.

They continue to work on the College Budget Analyzer for Fiscal Year 2017-18.

Oct. 20, 2016

The Employee Relations and Professional Development (ERPD) Council met on Oct. 31 and thumbed their updated charge and the updated Use of Facilities Policy.

The ERPD Council plans to thumb the Dispute Resolution Process and Grievance Procedure at their next meeting. Subgroups continue to work on the Outsourcing and Transfer and Promotion Policies. 

Oct. 6, 2016

The Fiscal Management and Cost-effectiveness Council met on Oct. 6 where they were given a presentation regarding benefits. Resulting discussion topics included 2015-16 goals, accomplishments since 2011, available benefits at the College and their costs to the College and employees, plus a look at the 2016-17 Fiscal Year and beyond.              

The next meeting will include cost savings presentations from Council subgroups on the issues of Subscriptions/Memberships/Dues, Food/Catering and Stipends/Travel.

 

Aug. 25, 2016

The new Council was thumbed by the College Assembly on Sep. 14 and named the Fiscal Management and Cost-effectiveness (FMCE) Council. This follows the division of the former Fiscal Management and Organizational Effectiveness Council into two separate groups.
 
The FMCE Council has been focused on creating a draft charter for the new Institutional Effectiveness Council. Now that the Assembly has thumbed the charter, the FMCE Council will being talking about the Fiscal Year 2017-18 Budget Assumptions.

 

July 28, 2016
The Council met on July 28. They thumbed its division into two separate councils under the condition they remain connected. The team created a draft charter which was shared with the College Assembly on Aug. 10. After further council discussion, a final version will be presented to the Assembly for thumbing at a future meeting.

Subgroups continue to work on Issue Analysis Sheets regarding Dues/Membership, Food/Catering and Travel.

July 14, 2016

The Council met on July 14. They reviewed, discussed and shared interests regarding President Daniels’ suggestion to divide the Council into two separate entities. One would focus on finance and budget, and the other would focus on institutional effectiveness and accreditation. The Process Improvement Team also endorsed splitting the Council.         

The group will write and thumb new charters for the Fiscal Management Council and the Organizational Effectiveness Council. These will eventually be presented for thumbing to the College Assembly.

The Council has created subgroups that are working on Issue Analysis Sheets regarding Dues/Membership, Food/Catering and Travel.

May 5, 2016

The Council met on May 5. They are starting to work on Issue Analysis Sheets for travel, dues and memberships and food/catering. 

April 21, 2016

The Council met on April 21. They are continuing to review their collective thoughts on direction provided by President Daniels.

The Council is also revisiting a list they created regarding budget recommendations, which will now be considered for 2017-18.

April 7, 2016

The Council presented the latest version of the 2016-17 budget to the Assembly on April 13. They are examining new ways to close gaps between revenue and expenditures.

March 23, 2016

The Council presented feedback and results from a recent survey of budget managers to the Assembly on March 23. They continue to adjust the 2016-17 budget. 

March 3, 2016

The Council met on March 3. They are still developing a presentation to share with the College Assembly on March 23. The presentation will showcase the results of a recent budget manager survey regarding the impact of last year’s budget recommendations. 

Feb. 18, 2016

The Council is reviewing the results of a survey that was recently sent to all budget managers regarding the impact of the budget recommendations put forth by the Council last year   

Feb. 4, 2016

There are no further updates at this time.  

Feb. 2, 2016

The Council’s Jan. 21 meeting was canceled. There are no further updates at this time.

Dec. 7, 2015

The FMOE Council met on Dec. 7 and Sylvia Ramirez presented a 2016-17 budget overview to the Council. It included board financial interests, general fund estimates and projections, capital and debt services and a budget timeline. The overview will be shared with the Assembly on Jan. 27.

Dec. 3, 2015

The FMOE Council remains hard at work on the issue of bringing revenue to the college in different ways. They’re determining the easiest to do, research needed and possible referrals.  

Nov. 19, 2015

The FMOE Council continues to delve into the issue of generating revenue in different ways. They’re determining “low-hanging fruit” or simplest options, further research and referral ideas. They may hand off referral ideas to a content expert to objectively examine their viability. 

Nov. 5, 2015

The Council continues to work on the issue of “How the College can bring in revenue in different ways”. They have been brainstorming and prioritizing their ideas. The process involves determining which items can be delegated outside or pursued by the council. 

Oct. 28, 2015

There are no updates at this time.

Oct. 1, 2015

The council is hard at work on brainstorming new ways to generate revenue for the college. Visit their webpage to see the education the council recently obtained on revenue. 

Sept. 17, 2015

At their September 17 meeting, the FMOE Council determined a work theme of fiscal sustainability for the 2015-16 year.

They also designated a council subgroup to research the impacts of budget decisions made last year. This group will create a survey to send to budget managers and employees.

Sept. 2, 2015

The council met Sept. 2 and narrowed down six work themes for the academic year. Four of the six will be tackled in the very near future.

A subgroup will delve into the first theme, the impact of budget decisions made last year.

At their next meeting, the council will discuss the next three priority issues: centralizing versus decentralizing purchasing expenditures, new revenue-generation options and how to base budgets on plans versus historical patterns.

June 24, 2015

The council has formed a subgroup tasked with finding out why types of data the council will have access to in the 2015-16 academic year.

The council also is developing an annual budget development calendar.

May 19, 2015

On May 19, the council thumbed final charter and ground rules and selected a council representative to serve on the Comprehensive Campus Site Committee.

A workgroup from the council will meet to determine what further education the council needs in terms of institutional research and effectiveness.

April 15, 2015

The Fiscal Year 2015-16 Budget Recommendations were thumbed up by the Assembly at the April 22 meeting. The recommendations are being reviewed by Dr. Daniels.

With this accomplishment nearly checked off, the council plans to finalize the council charter and ground rules and to prioritize other issues that have been shared with them.

April 7, 2015

The council discussed interests expressed at the March 25 Assembly meeting regarding the budget savings proposal. Also up for review was a list of options outlined by Provost Terry Webb, which include some new suggestions plus elements of the existing Budget Task Force recommendations.

The council hopes to have a final budget savings proposal ready for thumbing at the April 22 Assembly meeting.

A fact sheet regarding parking at Madison College is in the works and will soon be posted online.

March 18, 2015

On March 11, the Budget Task Force presented to the Assembly its recommendations for balancing the 2015-16 budget. The recommendations were expected to be thumbed at the March 25 Assembly meeting but were not due to time constraints.

The council is making revisions based on the concerns shared during a forum held before the last assembly meeting. The budget’s timeline has been moved from April to May, allowing more time to explore possibilities before presenting it to the Assembly on April 22.

March 4, 2015

At their March 4 meeting, the council reviewed and discussed the new budget tool developed by the budget task force. They also reviewed and discussed the FY 2015-16 budget savings proposal created by the budget task force. The proposal was thumbed for presentation to the Assembly. A representative will record the Assembly presentation to show how the task force arrived at the proposal.

Feb. 20, 2015

A Budget Task Force will meet every Thursday afternoon and will identify concerns/interests/options from the college community for closing the projected 2015-2016 budget deficit.

The council’s primary goal is to solicit as many interests from staff as possible while evaluating the effectiveness of policies, planning and the annual budget processes and recommending changes as necessary.

College-wide suggestions are posted on the Shared Governance website. The council’s goal is to have a list of recommendations ready for one of the March General Assembly meetings.

Published March 1, 2017. Updated March 9, 2017.