November 29, 2021 Audit Finance Committee Meeting
The Audit/Finance Committee of the Board of Trustees of Illinois Valley Community College District No. 513 met at 5:00 p.m. on Monday, November 29, 2021 in the Board Room (C307) at Illinois Valley Community College.
Committee Members Physically Present
Jay K. McCracken, Committee Chair
Maureen O. Rebholz
Committee Members Virtually Present
Amy L. Boyles
Committee Members Absent
Board Members Physically Present
William F. Hunt
Others Virtually Present
Mark Grzybowski, Vice President for Student Services
The meeting was called to order at 5:00 p.m. by Mr. McCracken.
PUBLIC COMMENT
Mr. McCracken expressed sympathy to Judy Day, Secretary to the Board on the recent passing of her mother, Sylvia Eaton.
2021 TAX LEVY
The committee discussed the tentative $13.9 million 2021 tax levy that includes a 9.3 percent increase over last year’s $12.5 million levy. The levy is based on a nearly 9 percent increase in the district’s equalized assessed valuation (EAV). Dr. Seaton informed that the levy will keep the tax rate nearly flat for tax payers. With the EAV increasing more than 5 percent, the Board will hold a truth-in-taxation hearing on December 9. Mr. McCracken noted that the spreadsheet provided to the committee was very helpful. The committee recommended that the 2021 Tax Levy be presented to the full Board,
COMPREHENSIVE STUDY & RECOMMENDATIONS
Dr. Seaton reported that beginning in 2020, the college began experiencing turnover in several hourly positions and most of these were in skilled areas such as technology, accounting or business services. Input from exit interviewing indicated that wage was a primary concern for support staff leaving the college. While IVCC offers competitive benefits, the wages provided in some cases were not competitive with private and public sector positions within the Illinois Valley. A comprehensive study was conducted and the data presented in the report represents all current full and part-time non-exempt employees in Levels five through eight. Dr. Seaton noted that the study provides research that the Board and administration can use when making compensation decisions for current and future employees. He added that the compensation study was conducted by the Business Office in consultation with the Business Employment Skills Team (BEST). A breakdown of recommendations was provided in the report for Committee review. Dr. Boyles thanked Dr. Seaton, Ms. Hofer and Ms. Ross for the informative report. Dr. Rebholz and Mr. Hunt both expressed appreciation and support for the study and recommendations. Mr. McCracken noted that the information presented provides a pattern for budget planning.
REQUEST FOR PURCHASE – INVESTMENT SERVICES
Dr. Seaton informed of the benefits of employing a third-party vendor to manage the college’s investments and strategies. The committee was supportive of the proposal and Mr. McCracken noted that it was an excellent idea.
REQUEST FOR PURCHASE – REVIEW OF IT SERVICES
Dr. Seaton proposed hiring CampusWorks at a cost of $45,000 to do a 360-degree evaluation of IT services, protocols, security and staffing. He noted that if the Board approves, the contract would be paid for with HEERF funding. Dr. Seaton added that our plan is to gather as much information as possible about our current state prior to making any major changes. Mr. McCracken called for a motion to approve the recommendation going to the whole Board. Motion made by Dr. Rebholz and seconded by Dr. Boyles to approve taking the request for purchase for review of IT services to the full Board.
Roll Call Vote: “Ayes” – Dr. Rebholz, Dr. Boyles, Mr. Hunt and Mr. McCracken. Motion carried.
AUDIT UPDATE
Dr. Seaton informed that the audit has been delayed due to some data issues that are coming from the Illinois Community College Board (ICCB). Dr. Seaton noted that the plan is to complete the audit in January or February. ICCB has granted all community colleges an extension to March 31, 2022 to complete the audit.
EMPLOYMENT OF COVID-19 SPECIALIST
Dr. Seaton informed of transitioning our COVID Coordinator, Ms. Kimber King to a full-time employee with the cost of transitioning to a full-time position split between the HEERF funds and the GEER II grant. The committee expressed support for the employment transition. This item will be an information item for the December Board meeting.
SIX-MONTH BUDGET UPDATE
Dr. Seaton reported that nearing the half-way point of the 2022 fiscal year we are spending less in our funds as we are utilizing available HEERF funding. We are on track to be very favorably positioned for mid-year.
HEERF FUNDING UPDATE
Dr. Seaton informed that we have proposals for spending down HEERF funding such as HVAC and technology upgrades and the purchase of a master scheduling system. He noted that spring semester students enrolled in 12 or more hours will receive $1,000 and those in 6 to 11 hours will receive $500. Payments will be made after April 7. In addition, high school students enrolled in all IVCC dual credit and some dual enrollment courses will have tuition waived.
DENTAL LAB EXPANSION
Dr. Seaton reported that the Dental Lab expansion project is currently out for bid. The estimated cost for the project will be near $852,000. The plan is for the Dental Assisting program to move to the upper floor of G-Building with a dental hygiene program being added in fall 2023. Dr. Seaton noted that the Board will be presented with the low bidder information at the December Board Meeting.
PHS PROJECTS 2021
Dr Seaton informed of financial considerations for $2.7 million in PHS projects including upgrades and repairs in Building C boiler room for $206,195; parking lot 1 repairs for $53,130; and removal and resurfacing of lot 5 for $718,200. A proposed complete renovation of the band room for $1.7 million includes elevator replacement, asbestos abatement and removal of the raised floor. Dr. Seaton noted that if the levy is finalized in December, $1.17 million will be levied for these projects. Options for covering the remaining amount for the projects were presented.
ATHLETIC COACH SALARY & WAIVER
Mr. Grzybowski presented an athletic waiver reallocation update. He reported that we are moving forward with our commitment and reallocation of waivers to utilize our lineup of athletic opportunities to retain in-district students as well as recruit out-of-district students to attend IVCC. Mr. Grzybowski added that reallocating waivers so that all IVCC athletic teams can benefit will greatly assist in being able to spread waivers more broadly and thus increase roster sizes.
Mr. Grzybowski informed of the IVCC Athletic Department recommendation to adopt a new salary schedule for all coaches. The plan is to pay all newly hired head coaches $8,000 and assistants $4,000 to be more in line with pay scales at other regional community colleges. Coaches who have not reached the threshold will have stipends increased to that level. Mr. Grzybowski noted that this move represents a more equitable scale for all coaches. Dr. Corcoran added that the recommendation would allow IVCC to attract quality applicants for vacant positions and retain quality coaches in current positions. The committee thanked Mr. Grzybowski and Dr. Corcoran for the information and updates.
OTHER
Dr. Seaton informed that a meeting of the Audit Finance Committee would be scheduled in February to address tuition and course fees and a potential audit.
Mr. McCracken expressed appreciation for all of the information presented from the IVCC team of experts.
ADJOURNMENT
Mr. McCracken declared the meeting adjourned at 5:45 p.m.