Ohio Association of Student Financial Aid Administrators
Business Meeting
May 13, 2014
Marriott Dayton Ohio
President Randy Green called the meeting to order at 8:04am.
Secretary’s Report:
· Minutes from the December 12, 2013 Business Meeting were presented.
· Motion to accept the minutes was made by Sam Selvage and second by Mary Kay Freshour.
Treasurer’s Report:
· The budget and financial statements were present by Val Kepner.
· There were no questions or comments.
Old Business/President’s Report:
· OASFAA had conducted an external audit of the 2011-2012 financial records.
· Two items noted in the auditor’s report, which will be incorporated in the OASFAA P&P
o More oversight is needed of treasurer to treasurer elect functions by the President-Elect to ensure regular reconciliation.
o There should be quarterly, rather than annual, review and updates to report earnings and losses more frequently.
· This was an independent audit recommended as recommended by the executive board and finance committee.
New Business:
· Proposed increase in annual membership fees.
· Concern is core membership expense exceeds current membership fee (or core costs)
· A web-based town hall meeting will take place next Wednesday following conference for questions and discussion. An electronic vote of members will take place after town hall ends and will be open for one week.
· An announcement will go out to active members as well as inactive via membership and vote by survey monkey.
Discussion:
· It had been recommended by a member to increase the cost up to the core cost provided in the handout of $43, which is the true core cost to the association.
· The executive committee has recommended a conservative increase with hope to grow membership.
· Refer to communication, Appendix B in P&P that covers OASFAA core cost.
· Randy emphasized what really impacts members / on line credit card payments – startup cost and other going items.
· It was suggested that we consider an institutional membership along with individual.
· Another suggestion had been raised regarding online tool and research options other than our current tool, which is ATAC.
· Angela Johnson and Adam DiIulio have discussed credit card payments and usage online and will research other resources.
Randy Green asked for a motion to adjourn meeting. Motion to adjourn meeting was Scott Lehman & second was Chuck Taylor 8:26am