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FISCAL ADVISORY
 

Fiscal Advisory Committee

Notes – May 31, 2005

Present:  Charlotte Rayne, Jackie Eberts, Lisa Gray, Andy Reese, Jerome DeRidder, Jo Laird, Greig Mitchell, Betty Crockett, Alan Selser

Absent:  Fred Kundell, Memo Diriker

The notes of the May 13, 2005 meeting were approved as written. 

The Fiscal Advisory Committee received the Projected FY 2005 State Support Surplus Support (compiled following input from the Executive Staff) along with the Prelimary FY 2006 State Support Estimates.  There was no recommendation for approval or rejection of the documents.

During the summer, Greig Mitchell will meet with Dr. David Buchanan and Jo Laird (FAC chair) to discuss the development of methods to allow the committee to better meet its charge by identifying funding priorities earlier in the year, whether there is a surplus or not. 

The Charge of the committee is as follows:

The purpose of this committee shall be to review the University's fiscal resources and

to make recommendations regarding the utilization of these fiscal resources to the President's Administrative Council. The committee shall focus its efforts on the following activities: 

• becoming knowledgeable about the internal and external mandates that affect the allocation of the University's fiscal resources; 
• examining the University's plans and priorities in making recommendation regarding current and on going initiatives; 
• reviewing and commenting on the University's operational budget; 
• advising or recommending the disbursement of supplemental and discretionary funds as they become available; 
• providing input in the development of reports for the University of Maryland System and for the Maryland Higher Education Commission on the University's fiscal allocation plans and actions; and 
• reviewing the University's annual expenditures and providing an annual report to the Salisbury University Forum that summarizes fiscal activity for the year in meeting the University's mandates and priorities. 

The committee shall consist of the Vice President of Business and Finance (ex-officio and non-voting); five faculty serving three-year terms, three staff serving three-year terms; and two students serving one-year terms. 

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