League of Women Voters Observer Report

Triton College Finance/Maintenance & Operations Committee

September 9, 2015

Board Room A 300

Pauline Koch, Observer

Call to order: Scheduled to begin at 4 p.m. and called to order at 4:07 by Elizabeth Potter in the absence of Committee Chair Donna Peluso.

Roll Call: Present: Garrick Abezetian, Alida Carpenter, Michael Garrity, Kevin Kennedy, Joe Klinger, Stephen Kubiczky, John Lambrecht, Jim Reynolds, Sean Sullivan, Mary-Rita Moore.

Approval of Minutes of August 5, 2015 Meeting

Citizen Participation/Presentations

Presentation by Christine Torres of Crowe Horwath LLP regarding audit of Triton College for Fiscal Years ended June 30, 2014 & June 30, 2015. The committee members and observer were given an 88-page draft document titled “Triton College Comprehensive Annual Financial Report.”

Particularly noteworthy items on page 18 are Capital assets, net of $60,130,807 that is indicative of the work in progress and General obligation bonds of $53,525,951.

On page 19, noted that student tuition and fees have increased by $5 per credit hour while enrollment has decreased about 3%. The discussion was about how enrollment is down at all the Community Colleges in the area – conjectured due to a lack of State funding. Also noted on page 19, State capital appropriations of $6,764,781 that is non-cash and used for improvement of H building for Health Sciences.

In the notes on page 31 under “Pension Liabilities, Expense, and Deferred Outflows of Resources and Deferred Inflows of Resources Related to Pensions” and “ Net Pension Liability At June 30 2014,” SURS (State Universities Retirement System of Illinois) reported a net pension liability (NPL) of $21,790,983,139. The net pension liability was measured as of June 30, 2013. The amount of the proportionate share of the net pension liability to be recognized for the College is $0. The proportionate share of the State’s net pension liability associated with the College is $194,302,702.

New Business

Business

1. Approval of FY 2015 Audit (Draft) Ms. Torres said the final version will be ready before the September 22 Board of Directors Meeting.

2. Resolution Adopting FY 2016 Budget – Total budget is $154,797,292

3. FY 2016 Student Activities Budget and Expenditures $1,659,000

4. Certification of Chargeback Reimbursement (Draft) “Can’t finalize until State gets a budget.”

5. Request for Life Safety Project FY 2016 – CCTV $300,000

6. Strata Information Group (SIG) Consulting Agreement from June 30, 2015 to June 30, 2016

7. Waiver of Facility Rental Fee for Village of Melrose Park – (Confirmation of Board Poll)

Information Systems

1. CollegeNet Event & Class Scheduling Solution Maintenance Addendum $29,110 annually.

Academic Affairs/Student Services

1. Renewal of Memorandum of Understanding Between Dominican University and Triton College – 2 year term with termination notice of 90 days to be given.

2. Agreement with Rosemont Theater for graduation Saturday May 21, 2016. Cost of cleaning not to exceed $35,000.

3. Waiver of facility Rental Fee for Illinois Student Assistance Commission (ISAC) event on October 13, 2015. Cost for cleaning $240 for a $1,700 rental value.

4. Affiliation Agreement with Advocate Health and Hospitals Corporations D/B/A Advocate Lutheran General Hospital and Triton College. Must give 90- day notice of termination - no cost for x-ray tech students.

5. Student Training Program Agreement with Shriners’ Hospital for Children – 1 year renewable at no cost for Surgical Tech program.

Public Relations

1. Contract with Cision US, Inc. - Media research September 2015 to 2016 for $10,815.

Items 1-14 were unanimously approved for submission to the Triton College Board of Directors for their approval.

Remarks from Sean Sullivan, Vice President of Business Services “ There has been no problem with the audit of the Financial Report since 2007.” Stephen Kubicsky, (Community Representative) agreed with him.

Purchasing Schedules

B38.03 District-wide Schedule of Classes Spring 2016 – Woodward Printing $35,826.

Closed Session – Not required

Information Item

Monthly Financial Report – by Jim Reynolds

Donna Peluso arrived at approximately 4:25 p.m.

Adjourned at 4:37 p.m.