John Wood Community College Finance & Audit Committee met March 16.
Here are the minutes provided by the committee:
The Finance Committee met at 4:00 p.m., at the John Wood Community College Southeast Education Center. Present were Don Hess and Paula Hawley, trustees; Josh Welker, Dean of Business Services & Institutional Effectiveness; Mike Elbe, president; Nora Klingele, director of fiscal services; and Josh Faivre, Wipfli.
• The audit draft was distributed and presented by Josh Faivre. The audit has been delayed this year due to the HEERF funding guidance and problems at the ICCB. Overall, it was a clean audit with no significant findings.
• 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 have been submitted and recommended them for approval.
• Financials - The financials were reviewed and will be recommended for approval.
• Board Budget – The budget was reviewed.
• President’s Expense Account – Expenses were reviewed. A request was made for the use of $300 to celebrate Juneteenth.
• Review & Discuss Investments - The investment report was reviewed. It was recommended to purchase treasury notes instead of CDs as part of the quarterly CD/investment ladder.
• Board Items
o Audit – The draft was presented.
o Audit RFP – The results were discussed, and it was recommended to accept the proposal and award a 3-year contract with an option of a 2-year extension to WIPFLi.
o Rigging RFP – The results were discussed, and it was recommended to accept the proposal and award to Associated Controls & Design.
https://www.jwcc.edu/about/board-of-trustees/board-agendas-minutes/#finance-committee
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