JUNE 2004

SASFAA President's Annual Report continued...

The Agency Liaison, Michael Morgan, served the Association with individuals who were agency contacts from all nine of the SASFAA states. The primary objectives established by the Agency Liaison Committee were:

  • To provide timely and relevant information about legislative and processing issues that affect state agencies in the southeastern region.
  • To generate discussion about legislative, funding and policy changes at both the federal and state level.
  • To generate discussion on the benefits and trends concerning merit and gift assistance programs.
  • To promote SASFAA within various professional organizations, such as NCHELP, NASSGAP and SREB and attend related meetings.

An obvious and deliberate attempt was made to increase communication between agencies and the board. The committee attempted to apprise members of legislative issues that affect state agencies. The committee was successful in generating discussion on topics other than loan originations and guarantee operations instead chose to focus on need and merit-based aid opportunities.

Some of Michael’s suggestions include: 1. more of an attempt should be made to involve active agency members of SASFAA as committee members; 2. membership information from the previous year should be made available prior to the transitional board meeting; 3. the chair should coordinate at least one conference call to discuss issues that could be presented at the annual conference.

Budget/Finance Chair, Jane McNaughton, served the Association for a second consecutive year. Jane worked very closely with her committee and with the SASFAA Treasurer, Lester McKenzie. The primary objectives of the Budget/Finance Committee were as follows:

  • Adhere to practices outlined in SASFAA’s Guide to Financial Management.
  • Review SASFAA’s Guide to Financial Management to ensure the continuity of sound financial practices.
  • Determine the appropriateness of fees assessed for dues, annual conference, workshops and ancillary services – including vendors at least once every given year.
  • Provide for establishment, maintenance, investment and monitoring of a sufficient associational reserve fund.
  • Review routinely all risks and liabilities affecting cash management and contractual obligations.
  • Determine the appropriate cash balance to be brought forward annually.
  • Periodically evaluate the financial impact of vendor sponsorship.

The Budget/Finance Committee supported the SASFAA Treasurer, Lester McKenzie, by being a resource. They assisted Lester with the Annual Conference registration and daily receipt balancing.

The Committee members were polled on their opinions when investments matured and when proposals were offered by Jim Mills of SunTrust Securities. The recommended laddered strategy of having varied certificate of deposit amounts invested for different lengths of time at available interest rates has provided the Association with a steady income stream. With the assistance of the Treasurer, Lester McKenzie, credit cards were provided for a payment option for the first time at the Annual Conference. The Association posted over $10,000 in credit card payments at the February 2004 conference. The IRS 990 Income Tax return was filed timely in early November 2003 – prior to the November 15 deadline. The Committee and SASFAA are indebted to Anne Rochester, CPA, of edsouth in Knoxville, Tennessee, for completing the return and for her continued support. The annual financial review of 2002-2003 was completed by Ken Player, former and retired SASFAA member, and was presented to the SASFAA Board at the February 2004 conference in compliance with the GAP committee recommendations.

One key recommendation from the Budget/Finance Committee is for the upcoming committee to further investigate additional investment opportunities for SASFAA’s reserve funds.

Conference Committee Chair, Zita Barree, worked very closely and diligently with her committee members – both the Conference Committee and the Local Arrangements Committee. The committees assisted with providing for the professional growth and competencies of all SASFAA members, enhancing alliances between and among various sectors of the student financial aid community, and promoting the development of future leaders by actively involving the SASFAA membership.

Under the quality direction and guidance of Zita Barree, the Annual Conference was a huge success. The theme, “Access – the Key to Brighter Futures” – was developed and maintained throughout the entire meeting. Many things were accomplished at the Conference:

  • A total of 777 attendees, with 157 indicating they were first-time attendees.
  • 100% online conference registration process.
  • A new online conference evaluation process with 331 respondents (in 2003, there were less than 200 paper evaluations submitted) – of which, 95% indicated the conference met their professional needs.
  • Utilized 89% of contracted hotel room block which more than met the 80% requirement (this compares to over 100% for 2003 and 90% for 2002).
  • A total of 43 concurrent interest sessions were offered in six different track designations – from the evaluation forms, respondents rated the quality of the sessions as being a 4.17 on a scale of 1 to 5 (with 5 being the highest possible score), compared to an average score of 4.2 in 2003.
  • A fantastic opening session with Dr. Wintley Phipps as the keynote speaker – this event scored a 4.66 on the evaluations on a 1 to 5 scale.
  • A trip to the Civil Rights Institute on Monday afternoon in which almost 300 attendees participated.
  • New format for Tuesday banquet with the SASFAA Dinner Club – on evaluations, this received an average score of 4.49 on a scale of 1 to 5.
  • Successful SASFAA Community Service Project, which raised $2500 for Kid One Transport.
  • Specialized targeted e-mails were sent to first-time attendees welcoming them to SASFAA and trying to get them better acclimated to the conference ahead of time.

Several suggestions were offered by the Committee:

  • Buffet breakfast on Wednesday would be more cost effective and easier to serve given everyone’s varying schedules on departing the conference. For the past two years, SASFAA has paid for many more meals than it needed to because it is so difficult to determine who really will be eating breakfast.
  • Open the computer/e-mail lab earlier and leave it open later – people are ready to start checking their e-mails even before sessions start in the morning.
  • At the conference itself, our biggest weakness was the hotel and there was not a whole lot we could do about that. On the evaluations, hotel services were rated 2.07 overall (on a scale of 1 to 5) as compared to last year at the Adam’s Mark which received a 3.87 score.
  • Lester McKenzie, Treasurer, and Forrest Stuart, Membership Chair, did an excellent job this year in providing the various lists that were used to make sure attendees received the correct ribbons and invitations. Some work still needs to be done on coordinating attendees of the conference who receive complimentary registrations.

One big accomplishment this year was the “re-construction” of the conference manual (details the planning agenda and construction of the conference). This is large part to Zita Barree and Janet Sain’s direction. They received assistance from Lisa Tumer as well. This will assist future Conference Chairs in developing this very important event.


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