Quincy Reporter

John Wood Community College Board of Trustees Finance Committee Met June 9.

Here is the minutes provided by the committee:

The Finance Committee met at 8:30 a.m., at John Wood Community College. Present were Don Hess and Paula Hawley (via Zoom); trustees, Josh Welker; Dean of Business Services & Institutional Effectiveness, Mike Elbe; president, Nora Klingele, director of fiscal services, and Jenny Venvertloh; note taker.

Bills for Payment – Two sets of bills (April and May) were reviewed and will be recommended for payment.

Out of District Travel Requests – The committee reviewed the out of district travel form that was submitted and recommended it for approval.

Financials – Two sets of financial statements (April and May) were presented and will be recommended for approval.

Board Budget – The budget was reviewed.

President’s Expense Account – Expenses were reviewed.

Review Investments – The investment report was reviewed. Proposals were sent out for certificate of deposits and the College will obtain those CD’s from Mercantile.

Board items

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

The total budget is $16,199,429. This is an increase of $208,424 from last year’s budget.

Flat state funding of $1,816,571, which represents 11.2% of total revenues.

Tuition revenue based on 40,300 credit hours which represents a decrease of 1,000 credit hours from FY2021 budgeted credit hours.

Local property tax levy based on an estimated flat tax rate of $5,396,195, which represents 33.3% of total revenues.

No change in tuition rates or universal fees.

No State or Federal stimulus dollars have been included.

All contractual obligations including all debt payments.

Items from the College’s Strategic Master Plan.

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

An increase in student waivers to support the expanded Missouri CTE Scholarship program.

Funding for new Instructional Coordinator position.

The Strategic Plan will be presented as part of the tentative budget and will be officially adopted with the approved budget next month.

School Treasurer’s Bond – The treasurer of the college is required to be bonded. The level of bonding is $6.3 million. A recommendation is being taken to approve this bond level.

Elevator Service and Preventative Maintenance - JWCC solicited request for bids from qualified vendors to provide elevator service and preventive maintenance to the existing elevators. It is requested that the Board of Trustees authorize acceptance and award the 3-year bi-monthly elevator service and preventive maintenance bid to Barnard Elevator of Quincy, IL. The total 3-year cost of $25,200.00 will be billed at $700.00 per month.

FY 2022 ICCB Capital Budget Request RAMP (Resource Allocation Management Plan) Document - It is recommended that the Board of Trustees approve six RAMP documents and matching funds commitment for submission to the Illinois Community College Board. The projects are:

Parking Lot Repairs – Main Campus

Heat Pump Replacement - Agricultural Education Center

Roof Replacement – Learning Center (B Building of Main Campus)

Backup Generator – Workforce Development Center

Restroom Stall Partition Replacements – Main Campus and Agricultural Education Center

Entrance Vestibule – Heath Center (D Building of Main Campus)

Other

The College received the EDA grant. This will help fund the expansion of the Workforce Development Center. The College is looking at issuing bonds to fund the match. Mr. Welker will be setting up presentations from bond companies. This may result in an additional meeting for the finance and audit committee.

We received a tax appeal from Pike County.

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