Present: Jonathan Brand, David Clay, Tom Crady, Bob Grey, John Kalkbrenner, Jack Mutti, Russell Osgood, Helen Scott, Paula Smith, Jim Swartz, Frank Thomas, and Karen Voss.

The meeting was called to order at 7:30 a.m.

The Committee discussed the overarching goals of the budget process, including the goal of establishing greater interaction between Board-focused broad budget parameters such as the endowment contribution and on-campus budgetary matters including the allocation of resources among functions (e.g., institutional support, student services, or instruction).

The Committee then discussed its role in the budget process, which is to recommend to the President funding priorities to assist in the development of the College's annual operating budget.

The Committee spent considerable time discussing how it can ensure effective communication with others on campus. Members of the Committee will meet throughout the budget process with SGA, the Faculty Executive Council, and the Staff Relations Committee. There will also be a website related to the FY 2003 budget process, which will provide minutes from the Committee's meetings and any memoranda/reports produced by the Committee.

Finally, the Committee began a preliminary discussion of broad budget parameters. No decisions were reached on any items.

The meeting adjourned at 8:45 a.m.