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Financial Advisory Committee

The SAIR Bylaws state: A Financial Advisory Committee shall assist the Board with financial oversight of the Corporation. The membership of this committee shall comprise three former Board members serving staggered three-year terms.  Appointments to the Committee are made by the President.

The overall goal is to determine whether the Treasurer and the Board have been good stewards of the membership’s money and if the statements from SAIR financial institutions are consistent with the financial reports reported by the Treasurer to the Board and membership.

Financial Advisory Committee Guidelines:

  • Obtain from the previous year’s Treasurer copies of all statements pertaining to the SAIR financial institutions for the preceding fiscal year
  • Obtain copies of the preceding calendar year’s “check register”, monthly bank statements, and investment statements, as well as quarterly reports and the entire year financial statements (for the past two fiscal years) as reported to the Board and published to the membership
  • Request copies of invoices for specifically selected and/or randomly selected check register items
  • Pose questions (if appropriate) about any shifts in significant increases and/or decreases of revenue and/or expenditures from the previous year
  • Validate from the above activities whether the SAIR revenues and expenditures as reported to the Board and membership were reflected appropriately
  • On years that a new Treasurer takes office, also review the findings of the official audit
  • Submit a brief report by July 1 to the President of SAIR with a copy to the Treasurer of the Committee’s findings, and present the report with any Board comments at the annual meeting

2018-2021 Financial Advisory Committee
Committee members and institution:

  • Denise Gardner (chair) – University of Tennessee
  • Allen Gale (incoming chair) – Xavier University of Louisiana
  • Jim Purcell – Alabama Commission of Higher Education

2018-2021 Report of the SAIR Financial Advisory Committee


2017 Financial Advisory Committee
Committee members, institution, and last year of term:


  • Paige Borden – University of Central Florida (2018)
  • Denise Gardner (incoming chair) – University of Tennessee (2019)
  • Jim Purcell – Alabama Commission of Higher Education (2017)

2017 Report of the SAIR Financial Advisory Committee

2016 Financial Advisory Committee
Committee members, institution, and last year of term:

  • Donald Boeckman (Chair) – Louisiana Board of Regents (2016)
  • Paige Borden – University of Central Florida (2018)
  • Jim Purcell – Alabama Commission of Higher Education (2017)

2016 Report of the SAIR Financial Advisory Committee

2015 Financial Advisory Committee
Committee members, institution, and last year of term:

  • Bernie Braun – Louisiana State University (2015)
  • Donald Boeckman (Chair) – Louisiana Board of Regents (2016)
  • Kathleen Morley – Baylor University (2017)

2015 Report of the SAIR Financial Advisory Committee

2014 Financial Advisory Committee
Committee members, institution, and last year of term:

  • Sandi Bramblett – Georgia Tech (2014)
  • Bernie Braun (Chair) – Louisiana State University (2015)
  • Donald Boeckman – Louisiana Board of Regents (2016)

2014 Report of the SAIR Financial Advisory Committee

2013 Financial Advisory Committee
Committee members, institution, and last year of term:

  • Michelle Hall – Southeastern Louisiana University (2013)
  • Sandi Bramblett (Chair) – Georgia Tech (2014)
  • Bernie Braun – Louisiana State University (2015)

2013 Report of the SAIR Financial Advisory Committee

2012 Financial Advisory Committee
Committee members, institution, and last year of term:

  • Karen Gentemann – George Mason University (2012)
  • Michelle Hall (Chair) – Southeastern Louisiana University (2013)
  • Sandi Bramblett – Georgia Tech (2014)

2012 Report of the SAIR Financial Advisory Committee

2011 Audit Committee

Committee members, institution, and last year of term:

  • Ross Griffith – Wake Forest University (2011)
  • Karen Gentemann (Chair) – George Mason University (2012)
  • Michelle Hall – Southeastern Louisiana University (2013)

2011 Report of the SAIR Audit Committee

2010 Audit Committee

Committee members, institution, and last year of term:

  • Mary Sapp – University of Miami (2010)
  • Ross Griffith (Chair) – Wake Forest University (2011)
  • Karen Gentemann – George Mason University (2012)

2010 Report of the SAIR Audit Committee

2009 Audit Committee

Committee members, institution, and last year of term:

  • Glenn James – Tennessee Technological University (2009)
  • Mary Sapp (Chair) – University of Miami (2010)
  • Ross Griffith – Wake Forest University (2011)

2009 Report of the SAIR Audit Committee

2008 Audit Committee

Committee members, institution, and last year of term: Sam Lowther – Auburn University (2008); Glenn James – Tennessee Technological University (2009); Mary Sapp – University of Miami (2010).

2008 Report of the SAIR Audit Committee

The Audit Committee reviewed the financial records of the Association for 2008 and found that the records fairly represent the financial activity of the Association during the year and the financial position at the end of the year. Beyond the scope of the review, the Committee has the following recommendations for consideration by the SAIR Board of Directors:

Recommendations

  1. To assist in improving the management of financial aspects of the Association, the Audit Committee suggests that the Treasurer provide the Board with a collection of comparative financial information about Previous Year and Current Year revenues and expenditures, in more detail than is presented currently in the financial statement. Providing year-end information for the review year (e.g., 2008) and for the previous year (2007) would be helpful. Providing Budgeted as well as Year-End information would be even more informative to the Board and to the Audit Committee.
  2. The Committee suggests that the Treasurer review and discuss the comparative information with the Board annually and that the Treasurer also share this comparative information with the Audit Committee. Through this sharing of comparative information, the Board and the Audit Committee would have an opportunity to determine consistency of revenue and expenditure patterns from one year to the next and to ensure that notable changes are understood well.
  3. The Audit Committee suggests that the Board of Directors re-examine the feasibility of tracking workshop revenues and expenditures, in order to have a better understanding of how workshops impact the overall budget.
  4. By footnote or legend in the financial statement, the “CMG” and “PDCF” acronyms should be spelled out, to ensure that members understand what these acronyms represent: Committee on Mission and Goals, and Professional Development Crisis Fund.
  5. The Audit Committee suggests that the Board consider establishing an approval procedure for SAIR payments of $5,000.00 or more, requiring the approval of more than one SAIR official for these larger payments.

Submitted to the SAIR Board of Directors on October 15, 2009.

Sam Lowther, Auburn University
Glenn James (Chair), Tennessee Technological University, Chairperson
Mary Sapp, University of Miami

2007 Audit Committee

Committee members, institution, and last year of term: Gerry Dizinno – University of Texas at San Antonio (2007); Sam Lowther – Auburn University (2008); Glenn James – Tennessee Technological University (2009).

2007 Report of the SAIR Audit Committee

The Audit Committee reviewed the financial records of the Association for 2007 and found that the records fairly represent the financial activity of the Association during the year and the financial position at the end of the year.
Beyond the scope of the review, the Committee has the following recommendations for consideration by the SAIR Board of Directors:

Recommendations

  1. Review the cash flow of Association activity, and determine an appropriate threshold for the amount of funds needed in the checking account in order to pay for Association expenses. Continue the practice of shifting excess cash from the checking account to an account that will provide greater yield to the Association while still maintaining appropriate levels of safety and liquidity.
  2. Consider shifting the “investment account” funds from a money market account to an account (such as a certificate of deposit, for example) that will yield a greater return on investment for the Association while maintaining safety and reasonable liquidity of the funds. The investment account could contain funds that will not be expected to be used for typical operational expenses of the Association.
  3. Review the relationship between the Association and the Communications Specialist (and any other similar type of position) and the associated financial responsibilities of the Association regarding this relationship.

Submitted to the SAIR Board of Directors on October 20, 2008.

Gerry Dizinno, University of Texas at San Antonio
Sam Lowther (Chair), Auburn University
Glenn James, Tennessee Technological University, Chairperson

2006 Audit Committee

Committee members, institution, and last year of term: Debbie Dailey – Georgetown University (2006); Gerry Dizinno – University of Texas at San Antonio (2007); Sam Lowther – Auburn University (2008).

2006 Report of the SAIR Audit Committee

The Audit Committee has reviewed financial records of the Association, discussed matters among themselves and with the Treasurer, and reached the following conclusions: The financial records of the Southern Association for Institutional Research appear to be thorough, complete and well-maintained. All expenditures and revenues are documented and accounted for, recorded accurately and in a timely manner, and the required reports are compiled and distributed. We find all financial matters to be in order. Treasurer Bernie Braun and his predecessor are to be commended for excellent work.
Beyond the basic scope of this review, the Committee members would like to offer some recommendations for consideration by the SAIR board of directors, in relation to finances, that arose during the review.

Recommendations

  • Periodically, SAIR officers should review the relationship with the primary checking account provider. This should weigh convenience and service against possible greater returns on the account balances.
  • A policy should be developed to guide the Treasurer in setting the balance for the checking account. During the past year, the monthly balance ranged from around $65,000 upwards. Only during one or two months of the year are expenditures at such a level that would require a ready balance this large. A more moderate balance level could be maintained for most of the year and appropriate amounts transferred from the investment account to the checking account to meet these readily anticipated needs. This would result in a significantly greater return on cash balances, without unduly restricting liquidity.
  • Another matter that might be handled by board policy is the investment of funds not required for operations. Currently, the “investment” account involves no investment, but only a money market fund. It may be that the board is perfectly satisfied with this situation, but it might be worthwhile to develop a plan for how these funds can be handled, the risk the board is willing to take on, and the desire for a greater return on the holdings.
  • Insofar as possible, it would be most helpful to the Audit Committee if additional detail were provided in the revenues and expenditures categories. As it stands now, it is not possible to track revenues to expenditures by function (e.g., special event).

Submitted to the SAIR Board of Directors on October 4, 2007.

Debbie Dailey, Georgetown University
Gerry Dizinno (Chair), University of Texas at San Antonio
Sam Lowther, Auburn University, Chairperson

2005 Audit Committee

Committee members, institution, and last year of term: John Kalb – Southern Methodist University (2005); Debbie Dailey – Georgetown University (2006); Gerry Dizinno – University of Texas at San Antonio (2007).

2005 Report of the SAIR Audit Committee

Members of the Audit Committee were provided a spreadsheet with information on expenditures and revenues for the period January 1, 2005 through December 31, 2005. Each member reviewed the transactions recorded. A meeting of two members (Dizinno and Dailey) with the past SAIR Treasurer, Michelle Hall, was scheduled for Wednesday morning, May 17th, to ask questions and review findings. Unfortunately, Ms. Hall was unavailable for our meeting, but current SAIR Treasurer Bernie Braun did meet with the members. Mr. Braun was able to answer the questions posed by the members regarding some of the items on the spreadsheet.

Findings

  1. Our general finding is that the expenditures and revenue statement indicates that SAIR is appropriately using members’ funds to support professional development and activities related directly to the organization.
  2. A few items listed as “Miscellaneous” should be more clearly described in the accounting process. This is especially true of the item listed as “Miscellaneous” under the Expense Categories listing and the “Other Income – Unassigned” listing under Income Categories. Additional category listings should be developed so that “Miscellaneous” is not used frequently to describe items.

Submitted to the SAIR Board of Directors on June 2, 2006.

John Kalb, Southern Methodist University
Debbie Dailey, Georgetown University
Gerry Dizinno, University of Texas at San Antonio, Chairperson

2004 Audit Committee

Committee members, institution, and last year of term: Gerry McLaughlin – DePaul University (2004); John Kalb – Southern Methodist University (2005); Debbie Dailey – Georgetown University (2006).

2004 Report of the SAIR Audit Committee

The 2004 SAIR Audit Committee completed a review of the financial records of the Association and based on the records available found them to be fully in order. All revenues and expenditures were recorded accurately as documented by bank and investment balance statements and the financial balance displayed on the financial report as of the end of calendar year 2004 is correct.

We have the following recommendations for the future:

  1. An attachment listing charges that fall into the miscellaneous categories (both conference and general ledger) would be useful for those who are auditing in the future.
  2. Have the books audited by a professional auditor every time the books change hands, i.e., each time a new treasurer is elected.
  3. List the checks and their amounts that are outstanding as of the end of the year on the final bank statement to help in the reconciliation of the balance sheet and the bank statement.

Submitted to the SAIR Board of Directors on August 11, 2004.

Gerry McLaughlin, DePaul University
John Kalb, Southern Methodist University
Debbie Dailey, Georgetown University, Chairperson

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The Southern Association for Institutional Research (SAIR) is dedicated to the advancement of research leading to improved understanding, planning, and operation of institutions of post-secondary education. SAIR provides a forum for the dissemination of information and interchange of ideas on problems of common interest in the field of institutional research. In addition, SAIR promotes the continued professional development of individuals engaging in institutional research and fosters the unity and cooperation among persons having interests and activities related to research.

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