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Open Meeting Minutes Page 4<br />
Currently, there is a favorable expenditure variance of $4.7 million or 8.2% as compared<br />
to budget. As the academic year comes to a close, administration expects the<br />
expenditures to more closely align themselves with the approved budget. Although<br />
administration expects this variance to narrow, a surplus is projected for year end, and it<br />
will offset the shortfall revenue.<br />
It should also be noted that, as of the end of April, health insurance claim activity is up<br />
10% from last year’s activity. This variance is reflected in the balance sheet of the<br />
College as the reserve is down $800,000 from last year’s balance.<br />
Bills<br />
• Education Fund—$3,833,222.99<br />
• Operations and Maintenance Fund—$470,115.50<br />
• Operations and Maintenance Fund Restricted—$110,505.36<br />
• Bond and Interest Fund—$647,147.50<br />
• Auxiliary Fund—$657,287.43<br />
• Restricted Fund—$319,182.42<br />
• Audit Fund—$2,304.21<br />
• Liability, Protection, and Settlement Fund—$277,343.07<br />
• Public Building Commission Operations and Maintenance Fund—$68,332.43<br />
Mr. David LaHood asked for a roll call vote to approve the consent agenda including the<br />
minutes, personnel recommendations, purchase report, finance report, and bills. The<br />
following Trustees responded “Aye”: Don Brennan, Dr. Robert Ehrich, David LaHood,<br />
James Polk, Sue Yoder, and Student Trustee Trevor Mileur (advisory vote). “Nay”:<br />
None. Absent: Katherine Coyle and Tim Elder. The motion passed.<br />
President’s Report<br />
Dr. John Erwin called attention to the Strategic Objectives for FY 2012 Projected Year<br />
End. Strategic objectives were identified in support of the five strategic priorities<br />
(Outreach, Learning, Service, Workforce, and Value). The College met 60% of the<br />
established goals including total online credit hours (total 30,702/goal 30,315); total outof-district<br />
online credit hours (total 3,432/goal 3,209); workplace learner participants<br />
(total 2,604/goal 2,439); course success rates in developmental courses (met goal<br />
61.5%); funds raised net cost of Foundation operations (total $2,200,000/goal<br />
$1,142,072); health care costs per employee (total $11,744/goal ≤$12,887); and<br />
operations and maintenance cost per square foot (total $6.41/goal ≤$7.79).<br />
Dr. Erwin also distributed a draft of Blueprint for the Future identifying goals for<br />
FY 2013. Dr. Erwin will provide more information on the FY 2013 plan as it is finalized.
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