Quincy Reporter

John Wood Community College Finance & Audit Committee met Nov. 20.

Here are the minutes provided by the committee:

The Finance Committee met on Wednesday, November 20, 2024, at 4:00 p.m., at John Wood Community College. Present were Larry Fischer and Angela Gregor; trustees, Josh Welker; Dean of Business Services & Institutional Effectiveness, Dr. Bryan Renfro; president, Nora Klingele; director of fiscal services, and Jenny Venvertloh; note taker. Also attending was Sara McKenna, auditor with WIPFLi via Zoom.

1. Sara McKenna gave an overview of the audit. The audit will be presented at the Board of Trustees meeting this evening.

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

3. Overnight Travel Requests – The committee reviewed the overnight travel forms that were submitted and recommended them for approval.

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

5. Board Budget – The board budget was reviewed.

6. Review & Discuss Investments - The investment report was reviewed. CD proposals will be sent out in December.

7. Board Items

• Tax Levy –A Resolution Regarding the Truth in Taxation Act is being taken to the Board to adopt. The 2024 tax levy will not exceed 105% of the 2023 tax levy.

• Audit – The 2024 audit will be presented.

• PACT Lease Agreement – The Parent and Child Together (PACT) is requesting to lease space on the College’s main campus that PACT will use to provide childcare services. It is recommended that the Board of Trustees authorize to enter into a lease agreement with PACT.

• Two Rivers Regional Council of Public Officers (TRRCOPO) has requested to renew the lease agreement at the Mt. Sterling Education Center. It is recommended that the Board of Trustees authorize to enter into a one (1) year lease agreement with TRRCOPO.

• Other

a. Mr. Welker distributed and reviewed five-year financial projections.

https://www.jwcc.edu/wp-content/uploads/2024/11/11.13.24-BEM-1.doc