Authority — These codes are established under the power and authority of the Associated Students (AS) Bylaws and the AS Senate.
The board shall have the authority to meet and conduct business as delegated specifically by the Senate, or through this code, while the AS Senate is not in session.
The purpose of the Finance & Strategic Planning Board is to serve the Senate to manage and give advice and counsel to the Senate on financial issues, including the budget, investments, financial operations, fees, and the reserves, as well as the strategic plan and progress towards that plan.
Article II — Membership & Process of the Board
Membership of the Finance & Strategic Planning Board shall consist of three voting members of the AS Senate, one of which will be the AS Vice-President of Finance (who shall serve as chair.)
Advisor — The AS Executive Director shall serve as the non-voting advisor to the Board.
Meetings — The board shall meet no less than twice during each month the Senate is in session for a full month, they shall meet no less than once during each month the Senate is in session for a partial month.
The board shall have the authority to meet and conduct business as delegated specifically by the Senate, or through this code, while the AS Senate is not in session.
General Responsibilities of the Finance & Strategic Planning Board are to review and provide recommendations for financial policies, budgets, investments, financial operations, fees, and reserves. The board will also be responsible for organization, periodic review of the organization’s strategic goals, program review, addition of new programs, and periodic establishment of an updated strategic plan and shall make recommendations to the Senate for action.
Budget — The board shall review all requests for funds from the AS annual budget and budget revisions. The board shall make recommendations on an annual revenue target and fund uses to the corporate Chief Financial Officer.
The board shall allow each fund/program requesting funds from the AS annual budget the opportunity to be heard at a duly scheduled meeting.
The board’s recommendation of an annual revenue target and fund uses to the Chief Financial officer of the corporation shall be approved by the board no later than 4 weeks prior to May 1st of each year.
The board’s submission should provide ample time to the Chief Financial Officer to allow the Senate three meetings to consider and approve the next year’s annual budget.
Investments — The board shall annually review the investment portfolio of the corporation and make recommendations to the AS Senate.
The board shall invite the SSU Administrator responsible for treasury activity with the campus to attend the meeting where the investment portfolio is reviewed.
Reserves — The board shall annually review and make recommendations to the AS Senate for all requests for uses from the reserves of the corporation in accordance with the AS Reserve Policy.
The board shall make a recommendation for the allocation of surplus funds to the AS Senate no later than April 15th of each fiscal year.
Policies — The board shall make a recommendation to the Senate on all financial policies, procedures, or governing documents of the corporation.
Government Resolutions on Fees — The board will review and make a recommendation regarding any AS Government Resolutions that address Category II, IV, or V fees (as defined by the CSU Student Fee Policy) at Sonoma State University.
Strategic Planning — The board will be responsible for preparing a draft of a new strategic plan every five years.
The board will bring together a group from all aspects of the corporation, including university partners, to develop the new strategic plan.
Strategic Goals and Program Goals — The board will regularly get updates from the programs and services of the corporation on their progress toward the strategic goals of the corporation, goals contained in their program plans approved by the Senate, and overall programmatic goals.
New Programs — The board will review proposals to add new programs and services to be offered by the corporation and make recommendations to the Senate for action.
