September 17, 2018 SSE Finance Committee Minutes
Minutes
Sonoma State Enterprises, Inc.
Finance Committee
Monday, September 17, 2018
MinutesMembers Present:
Megan Varnadore, Christina Gamboa, Neil Markley, Amanda Visser
Members Absent:
John Kunat
I. Call to Order
The meeting was called to order at 12:35 p.m.
II. Approval of the April 27, 2018 Minutes
The minutes passed with no objections
III. Draft 2017-2018 Financial Audited Financial
Ms. Visser reported that hte Audit Committee had reviewed and accepted the audited financial statements. Ms. Visser distributed pages that were the most similar to previous statments provided to the committee. She reviewed the statements of activity and net position.
IV. Multi-Year Budget Development
Ms. Visser reminded the Committee that we would be discussing a mulit-year budget plan over the Committee's next meetings. We will also discuss aligning the budget with the University's Strategic Plan.
V. Other Non-Action Items
Ms. Visser distributed the current investment policy, and asked the committee to reach for our next Finance Committee meeting. Board Member D. Urbanski asked that we review our investment asset allocation and there maybe some other updates needed. Ms. Visser said she would compare the policy to other CSU Auxiliaries similar to SSE and bring some recommendations to the next meeting.
The CSU Auditors are beginning a compliance audit of SSE as part of their three-year cycle.
Some discussion ensued regarding the CSU's banking relationship with Wells Fargo and providing some discussion to use this for SSE as well.
Meeting was adjourned at 1:06 p.m.