John Wood Community College Finance and Audit Committee met Sept. 9.
Here is the minutes provided by the committee:
The Finance and Audit Committee met at 2:00 p.m., at John Wood Community College. Present were Randy Greenwell and Andy Sprague; trustees, Michael Elbe; president, Josh Welker; dean of business services & institutional effectiveness, Susan Fifer; director of fiscal services, and Jenny Venvertloh; note taker.
Susan Fifer’s last meeting with this group is today. Susan has taken another position. The committee wished her well and good luck.
1.Bills for Payment - The bills were reviewed and will be recommended for payment. The self-insurance balance is building back up. Randy asked for clarification on the payroll report with the two categories listed. One category is direct deposit and the other is actual checks that are still being printed and mailed.
Mr. Welker noted that the purchasing card program is being reviewed and changes are being made to make the process more secure.
2.Financials – Financials were reviewed and recommended for approval.
3.Review Investments – The investment report was reviewed. The College is obtaining three new CD’s from the proposals that were sent out. Mr. Welker may bring more information next month regarding treasury bonds.
4.Other
– The College received a large packet of assessment appeals. These are just notifications. The College does not have to approve the appeals.
•Next month will start the tax levy process and the audit will be presented. We will also have bids for approval for the robotics welding program.
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