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SDASFAA BOARD MEETING
Wednesday, November 4, 2009
AmericInn - Chamberlain, SD
DRAFT
CALL TO ORDER: Denise Grayson, President, called the meeting to order at 12:50 p.m.
Members present: Denise Grayson, President; Cindy Swinson, Past-President; Starla Russell, Secretary; Becky Pribyl, Treasurer; Bob Prouty, Patti Klinkhammer, and Sharon Martin, Members at Large; Jean Rock, Associate Member at Large.
Absent: Tom Poloncic, President-Elect
APPROVAL OF AGENDA: Cindy made a motion to accept the agenda, seconded by Sharon. No discussion followed. The motion passed.
APPROVAL OF MINUTES FROM JULY 8, 2009, BOARD MEETING: Denise asked for a motion to accept the minutes from the July 8, 2009, meeting. Bob made a motion to approve the minutes as amended, which included grammatical changes, seconded by Becky. All members were in favor, and the motion passed.
OFFICER REPORTS
Secretary: Starla reported that she is concluding her service as Secretary of SDASFAA, and thanked the board for allowing her to serve. Starla will continue her service to the region as Secretary of RMASFAA.
Treasurer: Becky distributed the Balance Sheet from January 1, 2009 through November 4, 2009. There are a few updates from the July 2009 Balance Sheet which reflects little income and mostly expenses. Total income is $15,828.38, and expenses are $10,913.22. The total ending Balance is $4,865.20. The SDASFAA Asset Statement was also distributed. The Wells Fargo CD is at .9% and will mature in December 2009. Becky will email the board members at that time to determine how to re-invest those funds, if applicable. The US Bank CD has been reinvested and will mature in October 2010. The Great Plains CD will mature in March 2010. It was suggested that perhaps the Board consider investing funds in longer-term CDs in order to get a better rate. The Board members are also encouraged to review CD rates at other financial institutions to determine if rates might be higher. The total available assets are $45,031.21. Future updates to the balance sheet will include the Support Staff workshop, the November 4, 2009, Board meeting expenses, and the High School Counselor’s Workshop.
Past-President: Cindy reported that it was challenging to fill an election ballot for the 2010 board election, but it has been completed and the election results will reviewed later in the meeting.
President-Elect: No report was given.
President: Denise reported that she received Tom Poloncic’s resignation as President-elect this past week. Therefore, she has been busy working with the High School Counselor Workshop committee to get the preparations in place for the High School Counselor Workshop scheduled for December 2010. She will also be contacting the Spring Conference Committee. Denise also reported that she attended the RMASFAA Board meeting on October 24 and 25, 2009, along with the RMASFAA Conference in Overland Park, Kansas.
Patti made a motion to approve the reports, seconded by Bob. All members were in favor, and the motion passed.
OLD BUSINESS
Policy & Procedure Changes: Denise reported that she has reviewed all of the changes to the Policy and Procedures and the SDASFAA Calendar. She had two updates that needed corrected. Starla will make the necessary corrections, and will send them out to the board members.
Personal Liability Insurance Coverage: Denise reported that this item was previously brought to the table by Tom, and she contacted Laurie Weber from North Dakota to get some ideas. She indicated that North Dakota currently does not have liability insurance. Patti indicated that when she checked on a facility for College Goal Sunday, she was referred to Howalt McDowell Insurance that offers one-day or event liability insurance. Becky indicated that the information that Tom provided included a quote of $1,425.00, and that may likely exceed what SDASFAA would need for coverage. Becky inquired as to the need for the insurance – is it for board members, SDASFAA members, or participants? The board feels that it is for all of the above. Discussion also included how individuals’ insurance would cover liability, or institutions, etc. In addition, the question arose as to the net worth of an organization before liability insurance would be needed. It was determined that SDASFAA will not proceed with purchasing liability insurance. There was no action taken.
Review of 2009 Budget with updated income and expenses: Denise distributed updated 2009 SDFASAA budget. With Tom Poloncic’s resignation, he also asked SDASFAA to submit to him an invoice from the NASFAA Leadership Conference so he can reimburse SDASFAA. Becky has drafted an invoice in the amount of $1,462.98. Denise also indicated that the November 2009 board meeting costs will higher than in years past due Decentralized Training not being held, and the Board needing to reimburse the Board members for travel expenses. Denise suggested the Board consider having the summer board meeting through conference call in order to save costs. The 2009 proposed expenses are set at $16,122.02, and are expected to come in less than the revenue, which is projected at $17,987.95.
NEW BUSINESS
NASFAA Website hosting: Denise reported that the RMASFAA Board has discussed NASFAA’s idea of hosting websites for state associations. Denise has contacted Mary Anne at Great Lakes to assess if SDASFAA’s website which is being hosted by Great Lakes will continue. At this time, the website hosting will continue through Great Lakes
Update on High School Counselor Workshop: Denise provided most of this update during the President’s report. The fees include: $20 registration fee; $25.00 fee if mailed. The materials can be printed at the various locations, with printing costs to be reimbursed by SDASFAA. Discussion included enabling the sites to distribute the materials electronically, and presenting more of an electronic format through computer labs or wireless laptops. The sites are able to present and distribute the materials as needed.
This flexibility may provide the re-direction that the subcommittee is responsible for this event, rather than just the president-elect. Becky discussed the possibility of having this event be the responsibility of the past-president, rather than the president-elect. It was further discussed that the president-elect should utilize the subcommittee members more to assist with this event. Becky reported that he 2008 HSCW costs was just over $700 for printing and the purchase of binders. Ken, Starla and Becky will be added to the email listserv for the HSCW. Becky will forward the registrations to the site coordinators.
Membership Renewal Process: Jean reported that she contacted the Associate Members to visit about the future of SDASFAA’s corporate sponsorship form. Overall, the cost for the items listed on the forms seem reasonable, however, the future of corporate sponsorships for the associate members remains to be seen. With changes in legislation, and the future role of lenders in question, coupled with any decrease in SDASFAA functions, the viability of the items on the corporate support form may be in question. Discussion included expanding membership to include organizations that work with institutions of higher education and business office staff that may benefit from being a member of SDASFAA, including training opportunities.
Discussion included when the membership dues should be submitted, which in the bylaws reflects a date of December 15, however on Appendix B – Corporate Sponsorship Form, it indicates a date of January 15. Starla reported that there was a change in the Bylaws regarding the date change; she will review the previous meeting minutes, determine the correct date and update the appropriate document. Starla will also notify Becky of which correct date.
Becky asked if the form needs to be changed. It was determined that the form will not change. Patti recommended that the five direct loan servicers be contacted for potential membership, which includes: Wells Fargo, Great Lakes, PHEAA, Nelnet, and Sallie Mae. It was also recommended ACS and Perkins loan servicers also be contacted. Board members are encouraged to approach these types of organizations and staff to visit about the benefits of SDASFAA. The contact information should be forwarded to Denise and Cindy for follow-up contact. Becky will email the Board members on the status of membership from time to time, and any needs that she might have on approving new members.
Denise reported that if associate members felt that items on the corporate sponsorship may be too costly, the board may consider other option items for associate members, and will be discussed as needed.
2010 Election Results: Cindy reported on the 2010 election results. 19 of the 24 schools have voted and were tallied. The results are:
President-Elect: Starla Russell
Secretary: Laura Olson
Members at Large: Greg Binstock, Augustana
Marlene Seeklander, Lake Area Technical Institute
Resignation and replacement of President-Elect: Denise reported with Tom Poloncic’s resignation, the President-Elect position has been left vacant. The Board discussed the need to fill the current president-elect position, since the Tom resigned before his president position begins on January 1, 2009. The Board is considering filling the president-elect position, which will take office as president on January 1, 2009, with a current board member who will inform the board of their ability to serve. The Board will take an email vote and discuss filing the position at a later date.
Denise will email the RMASFAA President, Sharon Kienow, to inform her of the status of the President-Elect position.
Denise will serve on the Review Committee to review the Treasurer’s books prior to the February 2010 meeting.
ANNOUCEMENTS
Next Meeting: The next meeting will be set by the President, and will be determined.
Denise thanked the outgoing members, including Patti, who is concluding her service as Member at Large, and Cindy, who is concluding her service as Past-President.
ADJOURN
Becky made a motion to adjourn the meeting, seconded by Patti. No discussion. The motion was passed, and the meeting adjourned at 2:58 p.m.
Respectfully Submitted,
Starla Russell,
Secretary
South Dakota Association of Student Financial Aid Administrators
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