Budget & Finance Committee Report
Clark Aldridge, Chair

In April I met with an ad hoc committee chaired by Heather Boutell that was charged with revising the Policy and Procedures Manual and the Guide to Financial Management. The committee was composed of Heather Boutell, Lester McKenzie, Susan Little, Randy Craig and myself. Under Heather’s leadership, the committee undertook a page-by-page review of the Manual with the intention of bringing it into compliance with the Association’s current electronic processes and clarifying and revising, as needed, other sections of the document. These revisions will be submitted to the SASFAA Board at a future meeting.

In consultation with President-Elect Brent Tener and Treasurer Heather Boutell, a draft of the 2006-2007 SASFAA has been prepared and forwarded to the 2006-2007 Board.

A certificate of deposit in the amount of $25,000 bearing an interest rate of 4.30% will mature on 6-12-06. I have been in discussion with Jim Mills at Suntrust concerning the reinvestment of this CD. Based on my discussion with Mr. Mills, I recommend to the Board that we reinvest this CD for a 12-month period, as there is little difference in the rate of a 12-month and a 24-month CD. Based on today's rate, we can expect a rate in the neighborhood of 5.10%-5.15%.

After an analysis of our 2005-2006 income and expenses to date, I am recommending that an additional CD in the amount of $25,000 be purchased. In addition, we will review our end-of-year balance with the idea of purchasing an additional CD in early 2006-2007.

I anticipate that our revenue for investment to increase nicely in the next several years, as we have several low-yield CDs maturing that will be reinvested at significantly higher rates.

Conference Committee Report
Lisanne Masterson, Chair

Although this year’s conference is several months behind us, there is always one to look forward to! The 43rd Annual Conference in Greensboro was a huge success, due in large part to the hard work of the conference committee. However, work is already underway in planning next year’s conference to be held at the Renaissance Hotel in downtown Nashville TN. Thanks to all of you who completed a conference evaluation form—this will assist next year’s committee as they begin to make final plans.

Since SASFAA 2007 will be in the VOLUNTEER state, now is your chance to become involved. Although the conference committee consists of only one representative from each state, plus local arrangements and board ex-officio members, there are numerous opportunities to serve on various sub-committees or to help on site. Please complete the online Volunteer Form, or contact Michael Morgan, MMorgan@edamerica.net, if you are interested.

Remember, this is YOUR annual conference. We want to ensure that your professional development needs are met, so when the “Call For Sessions” goes out on the listserv, we need to know not only what sessions you would like to see offered, but also if you are willing to present a session.