Quincy Reporter

John Wood Community College Board of Trustees Finance Committee met June 10.

Here is the minutes provided by the committee:

The Finance Committee met at 9:00 a.m., at John Wood Community College. Present were Randy Greenwell; trustee, Josh Welker; Dean of Business Services & Institutional Effectiveness, Mike Elbe; president, Susan Fifer, director of fiscal services, and Jenny Venvertloh; note taker.

• Bills for Payment - The bills were reviewed and will be recommended for payment.

• Out of District Travel Requests – There was no travel to approve.

•Financials - The financials were reviewed and will be recommended for approval.

• Review Investments – The investment report was reviewed. Proposals were sent out for certificate of deposits. The results will be emailed out for review.

•Board items

a.Tentative Budget – the tentative budget was reviewed. The proposed budget is balanced. Some key items from the budget:

•The total budget is $15,991,005. This is an increase of $451,131 from last year’s budget.

•Revenues include flat state funding of $1.6 million.

•41,300 credit hours

•No change in tuition or fees

•Expenses include items from planning documents (Missouri waivers, several program improvements, etc.)

•Faculty and staff salary increase of approximately of 2.75% for all Board approved positions and associate faculty.

•Implementation of the updated Staff Compensation Plan which includes a change to a 36-hour full-time workweek and compliance with the Illinois Minimum Wage Law.

•Addition of eSports as an NJCAA intercollegiate sport.

b.Student Account Write-Offs – A recommendation will be taken to the Board to approve student account write-offs.

c. School Treasurer’s Bond – The treasurer of the college is required to be bonded. The level of bonding is $6.4 million. A recommendation is being taken to approve this bond level.

d. Request for Qualifications – a recommendation will be taken to the Board approving an architectural firm for planning services for the Workforce Development Center Expansion.

• Other

o We received a tax appeal from the City of Pittsfield regarding Bunge.

o We received a notice that the city of Meredosia’s TIF is expiring and they will not be renewing.

https://www.jwcc.edu/about/board-of-trustees/board-agendas-minutes/#finance-committee