Quincy Reporter

John Wood Community College Finance & Audit Committee met Dec. 9.

Here are the minutes provided by the committee:

The Finance Committee met at 2:30 p.m., at John Wood Community College via ZOOM.  Present were Paula Hawley and Don Hess; 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 - The bills were reviewed and will be recommended for payment.    

• Approval of Travel Requests – The committee reviewed the out of district travel forms that were submitted and recommended them for approval.  

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

• Board Budget – The Board budget was reviewed.  

• President’s Expense Account – The President’s expense account was reviewed.

• Review & Discuss Investments - The investment report was reviewed.  Proposals were sent out for two 36-month CD’s and a 24-month CD.  It was approved to obtain all three CDs with People’s Prosperity.

• Board Items

o Tax Levy – Resolutions and Certificates will be presented regarding the tax levy.  The tax rate is estimated to remain the same as it was last year at $0.424 per $100 EAV.  Due to increases in District EAV, the levy will generate approximately $350,000 more than last year, of which $230,000 will be for the operating budget.

o Bonds – Resolutions and Certificates will be presented for the sale of bonds.

• Other – Proposals were received for a CDL Truck driving simulator.  The recommendation requests the Board to authorize acceptance of the proposal and award it to Virage Simulation, for $94,995.00 with the options of the Fire Truck and School Bus software, for a total of $111,895.00.

• The College is still waiting for the HEERF guidelines for the audit.  It is likely that it will be presented to the February Board meeting.

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