Present:  Jonathan Brand, Jon Chenette, David Clay, Matt Cleinman, Tom Crady, John 
Kalkbrenner, Doja Khandkar, Wayne Moyer, Mickey Munley, Russell Osgood, Todd 
Reding, Susan Schoen, Jim Swartz, Frank Thomas, and Karen Voss. 


Jonathan Brand opened the meeting at 8:34 a.m. Central Daylight Time. He introduced 
the students present at the meeting, Doja Khandkar, the SGA Treasurer, and the student 
observer, Matt Cleinman, SGA Assistant Treasurer.


Karen Voss summarized for the Committee the FY 2004 variance and reported that the 
last fiscal year closed within budget. This occurred despite net tuition revenue and 
unrestricted giving shortfalls and increased utility costs. The Committee agreed that closing 
the year within budget was due to the careful planning and control exhibited on campus. 
Discussion ensued.  Jonathan Brand added that the Trustees will hopefully approve a budget 
surplus policy which would cover surpluses and deficits in a given year. The Board is 
expected to discuss this matter at its next meeting.  


Todd Reding discussed the downturn in unrestricted giving in FY 2004 and stated that 
he and his staff have been and are continuing to work hard to identify and plan ways to 
increase the gifts and grants to the College.  


Jonathan Brand discussed the timeline for developing the FY 2006 budget and stated 
that he had previously distributed the schedule and will plan to follow it if there are no 
objections.  Discussion ensued.  He plans to draft this week the cover memo to budget 
managers with the request for submission of initial FY 2006 budget proposals by the end of 
October.  Committee members should contact Jonathan with any suggestions for the memo.


Finally, discussion ensued regarding the broad budget parameters and the possible 
effect of the strategic plan on the budget planning process. The discussion centered on tuition 
revenue, the comprehensive fee, gifts and grants, endowment spending,  student enrollment, 
salaries, facilities costs, and the budget contingency.  


The meeting was adjourned at 9:25 a.m. 


							Submitted by,




							Susan M. Schoen