John Wood Community College Board of Trustees Finance & Audit Committee met April 12.
Here are the minutes provided by the committee:
The Finance Committee met at 3:45 p.m., at the John Wood Community College. Present were Don Hess and Paula Hawley (via Zoom); trustees, Josh Welker; Dean of Business Services & Institutional Effectiveness, and 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 have been submitted and recommended them for approval.
• Financials - The financials were reviewed and will be recommended for approval. The FY22 budget will end with a surplus that will be used to make one-time purchases that will result in a savings for the FY23 budget.
• Board Budget – The budget was reviewed.
• President’s Expense Account – Expenses were reviewed. Mr. Elbe has contributed to the Juneteenth community celebration.
• Review & Discuss Investments - The investment report was reviewed. The College obtained three US treasury bonds through Commerce Bank.
• Board Items
Ø Audit – The final audit is being presented for approval.
Ø Tuition – A $7 increase in tuition is being presented for approval.
Ø Video Wall RFP – It is being recommended to accept the proposal and award to Live Space, LLC, for a video wall in the Student Activity Center. This will be used for classes, college events, and community events. A grant will pay $50,000 of the cost.
Ø Mt. Sterling U of I Extension Lease – It is being recommended to authorize to enter a one (1) year sublease agreement with (2) successive one (1) year automatic renewal options with the University of Illinois Extension for space at our Mt. Sterling Education Center.
Ø Orr Center U of I Extension Lease – It is being recommended to authorize to enter a (1) year lease agreement with two (2) successive one (1) year automatic renewal options with the University of Illinois Extension for space at the Orr facility on the Baylis Agricultural Education Center property.
• Other
Ø FY23 Budget – The budget will be presented at the June Board of Trustees meeting. It is based on 34,000 credit hours. Included in the budget is a 4.75% raise for faculty and staff as agreed upon in the CBA. There is savings in technology and equipment. We will be able leverage some lost revenue with the HEERF funds to help with the budget.
Ø Tax appeals from Pike County and Adams County were reviewed.
https://www.jwcc.edu/about/board-of-trustees/board-agendas-minutes/#finance-committee
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