Minutes from April 16, 2014 SASA Controllers Group:
We discussed some requests some auxiliaries are getting from our International Ed, Agency Accounts. There have been requests for credit cards for some of the faculty going overseas, so they do not have to receive cash advances. Some International Ed accounts still want to have cash advances.
- We discussed some changes that may be coming for the way financial aid is being paid to students. There is a movement to decrease the number of financial aid checks given to students, a direct transfer to the students Higher One Card is being offered. This has decreased the amount of money that is being put on auxiliaries’ debit cards. The possibility that the payment of financial aid may be delayed by six weeks was mentioned by one in the group.
- We discussed various methods that are being used by auxiliaries to handle campus student government accounting. The most popular product seems to be Collegiatelinc.
- Brome CC is implementing a card system “One Card System “ instead of the more well known Cbord system to handle its meal plan program.
- We discussed the continued rise in the cost of Workers Comp for auxiliaries, and the experience some are having with “The State Fund”.
- It is generally agreed that most auxiliaries have very competitive rates for their life insurance/disability/dental insurance coverage.
- We discussed that many auxiliaries are preparing RFP’s for the administration of their retirement plan programs. Oneida Wealth is currently working with some auxiliaries, and has been approached by other auxiliaries to prepare a plan to meet their needs.
- The Oswego Auxiliary had an independent study done to compare the costs of credit card processing when card cards are used to pay for services offered by the Auxiliary. According to the survey done by Dermody, Burke & Brown, CPA’s Chase Paymentech was the most cost effective.
Ralph R. Eisenmann
The College at Brockport