Bob Rhea, Board Member | John Wood Community College
Bob Rhea, Board Member | John Wood Community College
John Wood Community College Finance & Audit Committee met April 9.
Here are the minutes provided by the committee:
The Finance Committee met on Wednesday, April 9, 2025, at 3:30 p.m., at the John Wood Community College. Present were Larry Fischer and Angie Greger; trustees, Josh Welker; Dean of Business Services & Institutional Effectiveness, 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 overnight travel forms that have been submitted and recommended them for approval.
• Financials - The financials were reviewed and will be recommended for approval. RSVP funding was discussed. The College was approved to do a parking lot project from the Capital Development Board (CDB). An agreement will be brought to the Board of Trustees to set up a trust for the College’s portion of the project once requested by the CDB. The total project cost was approved at $743,600 with $185,900 coming from the College and $557,700 coming from the State of IL.
• Board Budget – The budget was reviewed.
• Review & Discuss Investments - The investment report was reviewed. The College will be establishing a sweep account with First Bankers Trust to hold cash instead of residing in the current checking account. The sweep account will be at a higher interest rate as well as fully FDIC insured.
• Board Items
Ø Upward Bound Travel Request for Proposals - JWCC solicited request for proposals from qualified vendors to provide travel for the Upward Bound program. One proposal was received. It is recommended that the Board of Trustees accept the proposal and award to Gerber Tours in the amount of $49,812.00.
Ø University of Illinois Extension Sublease Agreements – It is recommended to enter into a one (1) year lease agreement with two (2) successive one (1) year automatic renewal options with the University of Illinois Extension for space at both the Mt. Sterling Education Center and the Orr Facility on the Baylis Agricultural Education Center property.
https://www.jwcc.edu/about/board-of-trustees/board-agendas-minutes/#finance-committee
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