IASFAA Executive Council Minutes
December 11, 2014

Members present: Julie Haack,, Kristi Fuller, Tristan Lynn, Mindi Bucklin, Molly Weber, Todd Brown, Pam Perry, Carolyn Schwendeman, Mary Jo Smith, Brittany Peterson, Gary Adams, Kathie Aswegan, Mary Jacobsen, Chris Ditter, Brandi Miller, Julie Dunn, Chad Olson, Michele Dunne, Sara Harrington, Renae Armentrout

Meeting called to order by President Julie Haack at 10:33

Approve minutes from November 7, 2014 Business Meeting: Motion by Todd Brown , seconded by Carolyn Schwendeman

Treasurer’s Report –Molly gave report for Bethany

  1. Profit/Loss-Attached at end
  2. $29,784.74 in income as of 12/11/2014. $350 of this is due to the collection of Spring 2014 and Drive-In Director’s workshop late payments in the month of July.
  3. $6117.87 in expenses as of 12/11/2014.
  4. Given our expenses and income to date, we currently have a net income of $24,041.87.
  5. I have the Fall conference invoice from the Radisson that I will be paying this week. The amount is $14,219.86 so our net income will drop to $9,822.01 once that has been paid.
  6. Balance Sheet-Attached at end
  7. We currently have $91,993.93 in our money market checking account.
  8. We have 4 CD’s worth $59,516.86.
  9. Total Assets = $151,510.79.
  10. Motion to approve-Tristan Lynn motioned and Kathie Aswegan seconded, approved.

Past President – Jen Sassman

1)Just a reminder that if anyone needs help or just a sounding board with their committee work, please let me know. I would be happy to help where I can.

President – Julie Haack

I have requested credit card usage costs from Beth as MASFAA is currently collecting data to supply to states who currently aren’t offering credit card payment as an option. I will be compiling this data and forwarding it on.

I received the State Exchange information for Kristy who will be visiting Indiana in the spring and we are still on track for Val Meyers to come to our spring conference in April from Michigan.

MASFAA Leadership Symposium in June 2015 information is out and the nomination form is available. Last year, we had Kristy as the President – Elect and Tristan as Vice-President - Elect attend. We can encourage the same for this upcoming year.

Still working on Institutional membership vs. individual. Hoping to have something in rough draft form by next meeting.

The By-law changes were made and signed by Secretary Mindi Bucklin and myself and sent back to delegate Pam Perry.

And with heavy heart, we will be saying goodbye to Mindi in January so I will need to find a replacement secretary to fill in until April. I have a few feelers out and hopefully will have someone by the next meeting!

President Elect – Kristi Fuller
Elections going on right now and so far 85 people have voted. A reminder email will be sent out soon. Will be going to Indiana as part of the state exchange.

Vice President – Tristan Lynn

  1. Setting up conference calls for various committees.
  2. Continuing to reconcile.

Secretary – Mindi Bucklin
Please send me your reports if you haven’t already and let me know if you need anything. Thank you all for the opportunities you have given me through the year so far. I will miss everyone!

Delegates – Todd Brown, Pam Perry, Carolyn Schwendeman

No report

Commission Report- Todd Brown

Each year following the December 1 fall reporting deadline, Commission staff analyze all program expenditures and budgets and make awarding parameter amendments, if needed. All awarding parameter amendments for 2014-15 have been completed and communicated. The Iowa National Guard will likely begin approving spring only NGEAP recipients towards the end of December.

The 2015-16 Iowa Financial Aid Application will go live January 1 – to coincide with the 2015-16 FAFSA. Upon completion of the FAFSA, all Iowa resident applicants have the option to link to the Iowa Financial Aid Application directly from their FAFSA confirmation page.

Awards Committee –Mary Jo Smith/Brittany Peterson

Please be thinking of a student you can honor with IASFAA's Student Success Story Award which we will award in the Spring!

We will send a message in January to the listserv to encourage people to be thinking of a student they can nominate!

We'll also be meeting in January to begin planning for Spring Conference

By-Laws Committee – Delegates
By-laws have been updated and uploaded to the website

Community Outreach Committee –Lisa Croat/Gary Adams

We will be in contact with Julie Leeper at Iowa College Student Aid Commission to schedule the Governor’s signing of the proclamation to make the February “Financial Aid Awareness Month.” We hope that we can schedule that to coincide with the Director’s Drive-In Workshop, which has been scheduled for February 5th, 2015.

Exhibitor Relations –Kathie Aswegan/Michele Dunne

Fall 2014 IASFAA Conference. Nine exhibitors were present. No feedback about the location as of yet.

Electronic Services Committee – Chris Ditter/Mary Jacobsen
We have updated the website with the change from Newsletter Editor to Association Communications. New Award recipients have also been updated. The website navigation also now includes the Fed/State Issues page link.

Voting is open for 2015-16 Elections. Be sure to vote! We sent ATAC the photos for the membership directory today so they will be working on that. We will be working with Brian Eben to get Director’s Drive-In workshop registration up in early January.

Federal and State Issues Committee –Brandi Miller/Sarah Harrington

No report

Finance Committee – Julie Haack

Made purchase of bond and financials should show the reinvestment.

Newsletter Committee –Amy Norton/Renae Armentrout
The Communications Committee met via conference call on11/20/14.

  • A separate gmail account has been established for blog submittals (). All committee members have access to the email account and currently submittals are being forwarded to the chair automatically.
  • The blog has a new header and look to it.
  • Directions for reading the blog and instructions on submitting items for the blog were emailed to IASFAA members.

Professional Development Committee -Brian Eben

The next item on the calendar for the Professional Development committee is the Director Drive In workshop. The event will be held on Thursday, February 5th on the AIB campus in Des Moines. The event will run from 9:30 a.m. to 3:00 p.m. The make-up date will be February 12th.

I have been working with Mary Jacobsen and Chris Ditter to ensure the online registration is scheduled to be on the IASFAA website in early January.

An email was sent to the association on Wednesday, December 10th reminding everyone of the upcoming event.

Program Committee –Julie Dunn/Karen Snyder

Overall the program committee was pleased with the results of the fall conference. A huge thank you to all who contributed to our charity event as we raised $1,643.25 for the Quad City Scholars.

  • I received the results of the evaluations and the committee will review these to see how we can use the feedback for the spring conference. Overall the feedback was positive.
  • Spring Conference planning will begin after the first of the year. Committee welcomes topic ideas!

Site Coordinating Committee –Chad Olson/Joan Meyer

  • The Site Committee received a three year contract from the Stoney Creek Inn for Spring conferences in 2016, 2017, and 2018. It is the committee’s recommendation that President Haack sign the contracts.
  • Site Committee members Gary Adams and Brian Eben visited the Stoney Creek Inn in Sioux City on November 21 for a possible Fall 2016 IASFAA conference. The facility has forwarded a proposal to Chad Olson that he is reviewing. He may meet with the group for follow up on December 18.
  • The Site Committee located and hosted the State of Iowa dinner at the Federal Student Aid Conference in Atlanta, GA, on Wednesday, December 3. 32 Iowans attended the event.

Approval of Officer and Committee Reports

  • Motion –Molly Weber
  • Second –Todd Brown
  • Motion carries

Old Business
none

New Business

Julie is researching to see if Carolyn can hold a Delegate position and replace Mindi as the Secretary for the rest of the term. They will research to make sure that is ok with the rules. Next meeting is scheduled for

Adjournment

  • Motion –Carolyn Schwendeman made a motion to adjourn at 11:03
  • Second –Tristan Lynn seconded the motion
  • Motion carries

Respectfully submitted by Mindi Bucklin, Secretary

IASFAA Profit and Loss
July 1 - December 11, 2014
TOTAL
Income
DUES / 14,345.00
Interest & Dividend Income / 384.74
REG FEES
CONFERENCE - Fall / 10,705.00
CONFERENCE –Spring (late payments) / 310.00
DRIVE IN WORKSHOP (late payments) / 40.00
Exhibit Fees - Fall / 4,000.00
Total REG FEES / $15055.00
Total Income / $29784.74
Expenses
ASSOC REP
Association Travel / 1,146.57
Total ASSOC REP / $1146.57
ASSOCIATE MEMBERS / -195.50
AWARDS / 411.76
Bankcard Fee / 71.53
CMMNTY OTRCH
FinAid Awareness Month / 500.00
Meals / 84.16
travel / 221.88
Total CMMNTY OTRCH / $806.04
DEVELOPMENT/EXHIBIT REL / 77.91
ELECTRONIC SRVS / 2,475.00
EXEC CNCL / 327.48
FEE / 553.51
FINANCE / 349.02
Meals / 34.01
Total FINANCE / $383.03
PROGRM COMM
Charity Efforts / -1,613.25
Fall Conference Decorations / 75.21
Fall Conference Entertainment / 402.42
Fall Conference Guest Gift / 72.80
Fall Conference Printing / 95.41
Fall Registration Refund / 110.00
Hospitality Suite / 276.37
Meals- Planning / 153.26
Travel - Planning / 488.32
Total PROGRM COMM / $60.54
Total Expenses / $6117.87
Net Operating Income / $23666.87
Other Expenses
Reconciliation Discrepancies / -375.00
Total Other Expenses / -$375.00
Net Other Income / $375.00
Net Income / $24041.87
Thursday, Dec 11, 2014 08:15:30 AM PST GMT-6 - Cash Basis
IASFAA
Balance Sheet
As of December 11, 2014
TOTAL
ASSETS
Current Assets
Bank Accounts
Money Market Checking / 91,993.93
Total Bank Accounts / $ 91,993.93
Total Current Assets / $ 91,993.93
Other Assets
AbnAmro Bank NV -CD- / 14,876.83
Allergan, Inc / 14,640.03
American Express Centurion Bank Salt Lake City UT / 0.00
Capital One Bank Glen Allen CD / 0.00
Capmark Bank Midvale UT CD / 0.00
Discover Bank Geenwood / 0.00
Discover Bank Greenwood DE / 15,000.00
First Bank of Beverly Hills CD / 0.00
GE Moneybank CD / 0.00
GE Moneybank CD (deleted) / 0.00
GE MoneyBank Draper UT CD / 15,000.00
Gold Bank Leawood Kansas CD / 0.00
Rabobank S & P 500 CD / 0.00
WesternBankPuerot Rico Mayaguez PR / 0.00
Total Other Assets / $ 59,516.86
TOTAL ASSETS / $151,510.79
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Other Current Liabilities
Morgan Stanley / 0.00
Total Other Current Liabilities / $ 0.00
Total Current Liabilities / $ 0.00
Total Liabilities / $ 0.00
Equity
Opening Bal Equity / 106,014.78
Retained Earnings / 21,454.14
Net Income / 24,041.87
Total Equity / $151,510.79
TOTAL LIABILITIES AND EQUITY / $151,510.79