Paula Hawley, Board Member | John Wood Community College
Paula Hawley, Board Member | John Wood Community College
John Wood Community College Finance & Audit Committee met Sept. 11.
Here are the minutes provided by the committee:
The Finance and Audit Committee met on Wednesday, September 11, 2024, at 2:00 p.m., at John Wood Community College. Present were Larry Fischer; trustee, Bryan Renfro; president, Josh Welker; dean of business services & institutional effectiveness, Nora Klingele; director of fiscal services, and Jenny Venvertloh; note taker.
1. Bills for Payment - The bills were reviewed and will be recommended for payment.
2. Overnight Travel Requests – The committee reviewed the out of district travel forms that were submitted and recommended them for approval.
3. Financials – Financials were reviewed and recommended for approval. July and August were both presented due to no August Board meeting. Preliminary FY2024 year-end financials were also discussed. The College ended FY2024 with operating revenues that exceeded budget and operating expenses that were lower than budget.
4. Board Budget – The Board’s budget was reviewed.
5. Review Investments – The investment report was reviewed. Proposals were sent out for current CD rates. The committee approved moving forward to obtain the new CD’s.
6. Board Items
• Transfer – The College is requesting a transfer from the Operating Funds to the Auxiliary Fund to help raise the self-insurance fund balance and to ensure sufficient funding levels for additional auxiliary funds such as student transportation, student life, and athletics.
• Transfer – The College is requesting a transfer from the Operating Funds to the Operations and Maintenance Restricted Fund to replenish deferred maintenance and capital projects funds that were spent in FY24, and also help fund maintenance and capital projects planned for FY25 and future years.
• Door Access Request for Proposal – The College requested proposals to provide a door access system that would lock and unlock daily and have the option to immediately lock all doors with the push of a button and automatically contact the Quincy Police Department. It is recommended to accept the proposal and award to United Systems, Inc.
https://www.jwcc.edu/about/board-of-trustees/board-agendas-minutes/#finance-committee
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