32
Budget and Finance Committee Agenda July 20, 2011 Start Time: 6:00PM A. Call to Order – RoseAnn Dominguez - 6:00PM B. Roll Call – 6:00PM quorum determined - (Karen Summers) C. Announcements: None D. Review & Approve Minutes: 1. Minutes from Finance Committee Meeting - June 15, 2011 - (pages 3-6) E. Budget and Finance Report: RoseAnn Dominguez 1. Review Financials for May 2011- (pages 7-30): Bank Balances - (DOCUMENT 1 – pages 7-8) Income Statement - (DOCUMENT 2 – pages 9-12) Organizing Income Statement - (DOCUMENT 3 – pages 13-14) Dues Receipts - (DOCUMENT 4 – pages 15-18) Per Capita Report - (DOCUMENT 5 – pages 19-22) 2. 2011 Budget Adopted March 19, 2010 - (pages 23-26 just for reference) 3. General Fund Savings - (pages 27-28) F. New Business 1. Donation for ROTC Cadets from Bakersfield High School - $500 - (pages 29-30) 2. Lease on the San Jose Office - (pages31-36) 3. Stipend for EBd Officers - (oral) G. Old Business 1. Life Insurance for members – self funding – report back from Valley Benefits - (oral) 2. Update on Errors & Omissions Policy Claim - (oral) 3. H. Informational Items 1. 2. I. Next Meetings: 1. The meetings will continue generally every 3 rd Wednesday of the month with a few exceptions. Next meeting is: Wednesday August 17, 2011, 5:30pm for food and 6:00pm for the meeting – please RSVP – The New Auditors Will be There with a Presentation J. Adjourn KMS: Kns SEIU521/CTW-CLC 1 of 36

Budget and Finance Committee Agenda - SEIU 521€¦ · Budget and Finance Committee Agenda July 20, 2011 Start Time: 6:00PM A. Call to Order – RoseAnn Dominguez - 6:00PM B. Roll

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  • Budget and Finance Committee Agenda

    July 20, 2011 Start Time: 6:00PM

    A. Call to Order – RoseAnn Dominguez - 6:00PM

    B. Roll Call – 6:00PM quorum determined - (Karen Summers)

    C. Announcements: None

    D. Review & Approve Minutes: 1. Minutes from Finance Committee Meeting - June 15, 2011 - (pages 3-6)

    E. Budget and Finance Report: RoseAnn Dominguez 1. Review Financials for May 2011- (pages 7-30):

    Bank Balances - (DOCUMENT 1 – pages 7-8) Income Statement - (DOCUMENT 2 – pages 9-12) Organizing Income Statement - (DOCUMENT 3 – pages 13-14) Dues Receipts - (DOCUMENT 4 – pages 15-18) Per Capita Report - (DOCUMENT 5 – pages 19-22)

    2. 2011 Budget Adopted March 19, 2010 - (pages 23-26 just for reference) 3. General Fund Savings - (pages 27-28)

    F. New Business 1. Donation for ROTC Cadets from Bakersfield High School - $500 - (pages 29-30) 2. Lease on the San Jose Office - (pages31-36) 3. Stipend for EBd Officers - (oral)

    G. Old Business 1. Life Insurance for members – self funding – report back from Valley Benefits -

    (oral)

    2. Update on Errors & Omissions Policy Claim - (oral) 3.

    H. Informational Items 1. 2.

    I. Next Meetings: 1. The meetings will continue generally every 3rd Wednesday of the month with a

    few exceptions. Next meeting is: Wednesday August 17, 2011, 5:30pm for food and 6:00pm for the meeting – please RSVP – The New Auditors Will be There with a Presentation

    J. Adjourn KMS: Kns SEIU521/CTW-CLC

    1 of 36

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    2 of 36

  • Minutes of the Budget and Finance Committee Meeting

    June 15, 2011 from 6:07 – 7:36pm A. The June 2011 Meeting of the Budget and Finance Committee was called to order by the

    Treasurer, RoseAnn Dominguez at 6:07pm; a quorum was present. B. ROLL CALL – Members in attendance either by video conference or teleconference:

    BUDGET & FINANCE Committee Members: Present – Roseann Dominguez Local Treasurer Fresno Present – Kristy Sermersheim Chief Elected Officer Fresno Present – Cheryl Easterbrook Region 1 Phone Present – My Loi Region 1 San Jose Absent – Diego Quevedo Region 2 Absent – John Gilbert Region 2 Present – Adam Gintz Region 3 Phone Present – Karyn Clark Region 3 San Jose Absent – Brenda Flores Region 4 Present – Ronald Pazeian Region 4 Fresno Present – Tammie Inman Region 5 Bakersfield Absent – Pamela Green Region 5 Present – Dolly Clemente Region 6 San Jose Present – Ellen Rollins Region 6 Phone

    EXECUTIVE BOARD MEMBERS, OFFICERS and TRUSTEES:

    Scott Johnson San Jose Emma Davis San Jose Matt Nathanson Phone Regina Kane Bakersfield Carmen Morales Bakersfield David Chavez Fresno Kevin Westbrook Fresno Diana Calderon Fresno

    OTHER SEIU LOCAL 521 MEMBERS: Debra Miranda Fresno

    SEIU STAFF:

    Luisa Blue San Jose Ming Lee San Jose Karen Summers San Jose Pamela Rodgers San Jose

    C. ANNOUNCEMENTS –.

    Ellen Rollins announced that the Juneteenth celebration in San Jose is this weekend and the American Idol winner from last year will be singing.

    D. MINUTES of the May 18, 2011, BUDGET & FINANCE MEETING: The Minutes were reviewed and APPROVED AS SUBMITTED.

    E. BUDGET AND FINANCE REPORT: RoseAnn Dominguez 1. Review of Financials for May 2011

    Bank Balances – Document 1 Income Statement – Document 2 Organizing Income Statement – Document 3 Dues Receipts – Document 4

    3 of 36

  • Per Capita Report – Document 2011 General Fund Budget Adopted March 19, 2011

    The documents were presented by RoseAnn and reviewed. It was noted that Document 1 now had the revised names as suggested by the auditor. We are beginning to show a cost savings in the General Fund Budget for the rotation of staff to the Organizing Budget. We see the savings on Document 2 line 18 vacancies and the additional expense on Document 3 line 10. We are continuing to watch expenses carefully. Even lower dues income is expected due to the decertification of West Valley Mission yesterday. We will loose My Loi as an Executive Board delegate, Budget and Finance Committee member, and the Chair of the Good and Welfare Committee. We will also loose about 269 other West Valley members and about $15,000 per month in dues. There are also other decerts and losses in members due to Bill Shawhan and others. It was suggested that the Internal Organizer provide a summary of events showing what happened when a Chapter decertifies.

    F. NEW BUSINESS

    1. Term Life Insurance for members.

    Currently members from Legacy Locals 415, 817, 700 and some retirees have either a term life insurance benefit of $1,000 or $2,000 with premiums paid by the Local as a membership benefit. Trustmark, the underwriter of the Local 415 policy, has served notice that this product is no longer available and the policy will be cancelled as of August 1, 2011. This termination notice resulted in questions about the other existing policies: should they be continued by self funding, terminated entirely, and should they be offered to all members of Local 521 not just certain areas of the Local.

    MOTION: To request Valley Benefits give the Budget and Finance Committee of SEIU Local 521 a report/answer on self funding term life insurance by the July 20th Budget and Finance Meeting – cost analysis and if Valley Benefits is willing to absorb costs of administrative/actuarial fees for people currently covered by member term life insurance and/or the entire membership. Moved/ Seconded/ Passed – unanimously

    G. OLD BUSINESS

    1. Report on further options for the Local 521 – 2011 Biennial Convention.

    The Officers did not approve the Chukchansi Convention Option recommended by the Budget and Finance Committee last month. Instead they asked that additional options be researched for consideration. This was done and more options were presented to the Budget and Finance Committee for consideration this month. MOTION: To recommend that the Executive Board approve Option 2 – SEIU Local 521 office and rooms at the Raddison Hotel in San Jose – as the site for the 2011 Biennial Convention and authorize Local staff to secure the site and move on plans for the Convention. Moved/ Seconded/ Passed The date was left to be determined by the Executive Board at their meeting on June 28, 2011.

    2. Update on Errors & Omissions Policy Claim. Luisa needs to interview Elsa Caballero and then talk with our attorney.

    4 of 36

  • 3. Discussion on Member Reimbursement Policy – how to proceed. The Officers did not vote to recommend the Policy to the Executive Board for approval. It was decided that the Treasurer should write a letter to the Executive Board and have it approved by the Budget and Finance Committee explaining the Policy so that less time would be necessary at the Executive Board Meeting to discuss this subject.

    H. INFORMATIONAL ITEMS 1. My Loi, member of West Valley Mission Chapter which has voted to decert the Local,

    said that she will miss the Local and the members and stated that she has learned a lot by serving over the past several years.

    I. NEXT MEETINGS – The date of the next Budget and Finance meeting is Wednesday July

    20, 2011, food at 5:30pm and meeting at 6:00pm. J. ADJOURNMENT

    The meeting was adjourned at 7:36pm. ML:kns SEIU 521 CTW/CLC

    5 of 36

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