DRAC Minutes 5/02/17
Attendance:
Christopher Bianco – Chair Music Heather Dalberg – Music
Nanette Jackson – Journalism Student
Carolyn Nielsen – Student Publications Council Chair Kaitlyn Ronstadt – Music
Julianna Jackson – International Affairs Association Rick Stefani (for Jim DeWilde) Financial Aid Suzanne Blais – Western Window
Erin Emry – Theatre and Dance Bailey Ellis – Theatre and Dance
Julia Rutledge – New VP for Activities Rebecca McLean – DRAC Budget Support
Megan McGinnis – Student Publication Program Manager Carrie Rosendahl – Forensics
Update on process:
Student Fee’s Decoupling along with tuition rates review.
We will not know the outcome until July/August 2017 depending on what happens in the legislature.
Rebecca McLean Report DRAC has reserve funds.
S&A committee has asked to reduce reserves, which has been done over time. We have them and a need for them. We need to document the reserves in some way.
Equipment lists
Equipment Replacement Schedule (Reserves)
Equipment that hasn’t been budgeted for but what we expect to need in the future. All departments need to provide equipment list needed in their area.
Life span of some equipment is unpredictable, so is not to built into the budget. Since they are instruments/tools to be used by our students, they are needed, even if only during performances, etc.build
Reserves are for unexpected replacements.
Computer replacements (5 to 7 years) are usually built into budgets.
Average expected replacement costs for non-budgeted items average $35,000 a year. We do not want to spend it down because we have so much equipment, we need to make sure our reserves can support our needs in an emergency.
Can we create an Equipment Replacement fund in the departments, instead of having it swept? They are not annual replacement costs.
Meeting needed to understand a way to allocate reserves to equipment lists. Areas fill out the form on equipment’s itemized that need replacement.
Bring form to DRAC for requests, for vote each quarter. This is from reserve fund. or If it is equipment from the equipment replacement fund.request