Finance Committee Meeting — Minutes (09/03/25)

SGA Finance Committee Meeting MinutesDate: Wednesday, September 3rd, 6:15p-7:45pLocation: Gilman 119Notetaker: Amy XuPresentAbsentImad AhmedSteven AmanatZoe GaillardRyan GarzaJuan HidrowohAnisha RasamsettyMercedes RendPaul WooRebecca WuAmy XuKevin XuMamadou ThiamAgenda ItemsIcebreakersExplanation of Finance Committee dutiesBillsAllocationsEvent grantsIf you have any other ideas for activities or events, let us know!Phi Delt Crab Fest BillPassed first reading 8.26.25, needs to be approved by the committee to go to second readingBeing held September 27th but as long as we allocate the money beforehand, the money will be reimbursed (no issues with paying vendor directly)Last year $3000 was requested for 24 bushels, $3000 approved by the Committee and by the Senate.Asking for 26 bushels this year, $6625 total, asking for half, $3250Would like to see promotional material to ensure co-sponsorship policy is being honoredIs Family Engagement also helping sponsor Phi Delt Crab Fest?Price points: $15-$25 for a plate of crabs, $25-$35 for buffet style. Why are these so low? Each serving costs $21 per person – any lower is a loss. Would like some justification, potentially would like to see increasing price points.What does the range 15-25 mean? Why are there two different price points?What’s the % of $ being donated?Spent $8000, only donated $1000 2 years agoTicket sales generated $10000 last year, how much did they end up donating?How much money do we have for SGA bills?TABLED for GBM on 9/9/25Finance Committee procedures, policies, etc.Attendance: Message Amy at least before noon on Wednesday for excused absence. Here is Sumi’s attendance policy for reference. Try to make it to every meeting – your perspectives matter!Add budgets you have researched into the meeting minutes (see formatting in section below). This can be before or during the meeting, but preferably before the meeting so that Imad and Amy can look over prospective expenditures and how many budgets need to be reviewed in one meeting. Rearrange budgets in order of discussion during the meeting to preserve accuracy of the minutes.Tutorial: How to do budgetsHopkinsGroups tutorial by ImadRequired reading: SGA budget policies (see Teams files)Refer to SGA policies first while evaluating budgets. Please contact Imad or Amy (and even your veteran Finance Committee members!) for help interpreting the policies or with specific situations.We also would like to encourage reaching out to clubs if you truly need more details about things they’ve included in their budget. Consult Imad or Amy first before doing so for the first couple weeks, since we also would like to avoid confusion + see how this will work out, but this is the direction we would like to approach!Assigning everyone to their respective clubs!Grouped by category this year – no one is concretely assigned to specific clubsFor now, we will assign clubs that have already submitted Fall Allocations to Committee members so that we can get startedVoting on adding names to introductory emailGroup chat?BudgetsCLUBNAME – represented by SENATORNAMETotal requested: $___Itemized budget items here, add reasoning if provided and necessaryProposed allocation: $___Provide reasoning for proposed allocation