Quantcast

Quincy Reporter

Friday, November 22, 2024

John Wood Community College Finance and Audit Committee met Aug. 11

John Wood Community College Finance and Audit Committee met Aug. 11.

Here are the minutes provided by the committee:

The Finance and Audit Committee met at 8:00 a.m., at John Wood Community College. Present were Randy Greenwell and Don Hess; trustees, Josh Welker; dean of business services & institutional effectiveness, Mike Elbe; president, and Jenny Venvertloh; note taker.

1.Bills for Payment - The bills were reviewed and will be recommended for payment.

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

3.Financials – July financials were reviewed and recommended for approval. There was discussion regarding the transfer. It will be brought to next month’s meeting due to the auditors coming later in August.

4.Board Budget – The Board’s Budget was reviewed.

5.President’s Expense Account – The President’s expenses were reviewed.

6.Review Investments – The investment report was reviewed. Current CD rates were requested from local banks to look at the possibility of withdrawing current CDs with lower rates to re-place with higher rates. Mr. Welker has been in contact with Mercantile Bank where most of the CDs are held. They have agreed to waive any early withdrawal penalties and roll those into new accounts at higher rates.

7.Board Items

•Boiler Request for Proposals – Request for Proposals were sent out to provide replacement boilers for Building D. One proposal was received. It is recommended that the Board of Trustees accept the proposal and award to Peters Heating & Air Conditioning in the amount of $245,750.00.

8.Other

•The auditors are coming later than originally planned for field work on the FY2022 audit. They still believe it will be on schedule to be presented to the Board in October, but it is possible it could get delayed.

•The transfer will be brought to the Board next month.

•We may need an extra meeting this month for the auditors to meet with the finance and audit committee.

•Request for Proposals for chillers in the C building are being sent out.

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

ORGANIZATIONS IN THIS STORY

!RECEIVE ALERTS

The next time we write about any of these orgs, we’ll email you a link to the story. You may edit your settings or unsubscribe at any time.
Sign-up

DONATE

Help support the Metric Media Foundation's mission to restore community based news.
Donate

MORE NEWS