Student Council approved a resolution last night that aims to hold contracted independent organizations accountable for the money they spend.
The resolution expresses support for the creation of an asset management system that will enable Council's Board of Audit and Management to classify and assess assets that CIOs accumulate through the use of Student Council-allocated Student Activities Fee.
Board chair Nick Jordan explained that after Council's Appropriations Committee approves money for a specific use, the money is then given to a CIO by the Newcomb Hall business office. The business office, however, needs to keep track of whether the money is spent, if it is spent properly and if assets are being maintained well. The board hopes to serve in a capacity that Jordan described as something "almost like the IRS" for CIOs.
Jordan explained that the system will allow the board to classify assets purchased with Student Council funds as tier one, tier two or tier three assets. The tier one portion of the system will track more expensive items such as computers and speaker systems, the tier two section will examine more disposable items such as cloth for the Fashion Club, and tier three will record how CIOs use money allocated for intangible expenses such as travel.
"We want to do a better job of tracking large--money items such as boats and computers," Jordan said. "That is where the Board of Audit and Management comes in."
The board plans to conduct "spot checks" of these assets, Jordan added, monitoring use of money and asset maintenance and verifying that assets remain in their designated CIOs. Jordan mentioned that one thing the board will examine is whether any assets are lost during officer transitions.
Vice President of Organizations Catherine Tobin said the auditing system will help the Appropriations Committee make decisions about fund allocations.
"It will help us to keep track of what organizations own so that we don't appropriate money for things they already own," Tobin said.
She added that it will also help the business office keep a record of high--priced items owned by CIOs as well as ensure that CIOs dispose of assets properly. Tobin explained CIOs are supposed to notify the business office of the disposal of high--priced items, but because there has been little oversight in the past, items have often been disposed of without the office's knowledge and through improper channels. According to Tobin, high--priced items paid for with student allocated funds must be auctioned off through the University.
Jordan said the board hopes to require groups holding tier one assets to account for them on a yearly basis when they renew their CIO status.
Also at the meeting last night, representatives raised concerns that proper proxy procedure was not being followed when Council members were unable attend meetings, including a proxy for Executive Vice President Melissa Warnke. In a closing remark to Council, College Rep. Todd Eley said he was "unhappy about how bylaws were not followed" at the meeting in terms of how proxies were chosen. Graduate Arts & Sciences Rep. Tom Bryan echoed similar concerns, noting that it was "uncertain" if Chief Financial Officer Jeff McLaughlin should be allowed to proxy for Warnke.
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