Le Moyne College Faculty Senate Finance Committee

Finance Committee

Just Added:

Download the Faculty Salary Plan presented by the Faculty Senate Finance Committee (PowerPoint Show). Additional details about the plan are also available to read (pdf).

Function and Purpose:

The Finance Committee serves on behalf of the faculty in fiscal and budgetary matters, primarily as a conduit of influence and information between the Executive Board of the Senate and various venues of budgetary deliberation and decision-making throughout the governance structure of the college. In this service it is often called-upon to offer counsel and initiative to the senate leadership in the formulation of policy recommendations and resolutions concerning budgetary matters to be brought before the Executive Board and the Senate at large. However, at minimum, the Finance Committee is understood to be the primary conduit of information surrounding budgetary matters for the faculty, reporting back, at every juncture, on issues and deliberations with which, in its various committee assignments, it is conversant.

Members of the Finance Committee serve as faculty representatives on the College Budget Committee, and as resource persons for the Finance Committee of the Board of Trustees. In past years members of the Finance Committee have also served as members of the College Planning Committee (now defunct) and on various ad hoc task forces constituted to address matters of budgetary concern. It is to be presumed that such service on behalf of the faculty will befall the work of this committee.

Finally, the Finance Committee bears a certain responsibility for assisting faculty members in their effort to be conversant with budgetary matters of importance to the college. It is to be presumed/expected, then, that the Finance Committee take steps toward this end during any given semester such as holding “town meeting” sessions on issues before the committee or “one evening” seminars on crucial concepts.

Membership:

There are four members of the Finance Committee, appointed by the President of the Faculty Senate.

Though not a matter (as yet) of constitutional requirement, it is presumed that the membership appointments to the Finance Committee shall serve three goals: representation across academic departments/disciplines; knowledge/expertise in fiscal and budgetary matters; and, a balance of continuity and rejuvenation in membership. Persons appointed to the Finance Committee should expect to serve more than one year (hopefully three), go through a period of training and education, and serve as representative on other committees during their tenure as members.

Finance Committee Members

Committee	Name	Email	Division
Finance	Wayne Grove	novakpp@lemoyne.edu	2
Finance	Thaddeus Sim	smithsg@lemoyne.edu	3
Finance	Robert Flower	hevern@lemoyne.edu	4

Chairperson:

The chairperson of the Finance Committee is chosen from within and by the membership of the committee. Again, it is presumed that the chairperson of this committee is one of the more senior members of the committee.

The chairperson shall be responsible for facilitating meeting schedules, the formulation of meeting agendae, shall serve as Co-Chairperson of the College Budget Committee (in concert with the CFO of the college), and shall convey timely reports to the Executive Board of the Faculty Senate (by both attendance at the meetings of the Board and by way of posting written reports on the Senate webpage).

While it is presumed that the Chairperson of the Finance Committee will serve as one of the resource persons on the Finance Committee of the Board of Trustees, and as the representative of the committee at meetings of both the Executive Board of the Faculty Senate and of the Faculty Senate at large, for the purposes of education and continuity, these assignments should be shared with other members of the Finance Committee during any given year.

It must be noted that, in the role as Co-Chair of the College Budget Committee, the Chairperson of the Finance Committee is responsible to take active (and equal) part (with the CFO) in the regular reports of the College Budget Committee to the President of the College and, if need be (that is, if, in the opinion of the members of the Finance Committee/Senate leadership), present to the president counsel in contradistinction to that presented by the CFO.

Procedures:

Tradition has it that the procedures of the Finance Committee are fairly informal/collegial. Decisions are by consensus and arrive out of informal discussion.

Over the past years minutes of the Finance Committee have not been kept, leaving what modest record there is to the reports presented at the regular meetings of the Executive Board.

Budgetary Process Task Force Final Report

The Budgetary Task Force was constituted at the close of the spring semester, 2007, in agreement between the President of the College, John Smarrelli, the Vice President for Finance and Administration and Treasurer, Roger Stackpoole, and the President-Elect of the Faculty Senate, Cliff Donn. As a follow-through on the work of the Task Force on Faculty/Staff Salaries, constituted in response to a fiscal crisis issue over salaries that surfaced in January of 2007, the Budgetary Task Force was charged with the responsibility to reconstitute the College Budget Committee after carrying out a thorough review and reconsideration of the issues surrounding budgetary processes at the college.