2018 June Board Notebook

Budget/Finance Dr. H. Kenneth Dinkins (Pages 68 - 82)
Brought in the investment broker to speak-Dan Foster from Raymond James-
Gave out financial outlook ( attachment). John Posey sat in for this information.
Dan stated it was a dismal point last year from the Charleston meeting in 2016,
but has improved performance this year. The performance was improved
because earnings has improved. Mr. Foster explained the investments
performance to the board ( Please see attachments)- Pg. 2.
Changes-
We will reduce the amount of money in Large-Cap Value and move it into
International markets because they have seen growth. The Investment choices
and balances were explained on pg. 3. The take-away message was given on
pg. 4 as a summary and explanation of the benefit of tax reform. The
determining of the Board of the Federal Reserve and the changes of who will
sit on the board may change the policy and its effect on the market. Dan Foster
asked for questions and the board thanked him for the report.
Bob introduced John to the board and gave information on the audit. John gave
the general information on the audit and sent over the trial balance to the
auditor the week of Oct. 16-20. He plans the audit will come quickly. Mr. Clarke
Scott gave thanks to John for getting us back on track for the audit. John
invited the board to contact him at any point.
Proposed Handbook Additions
Currently we can only carry over20 days a year- We want to move it to 30 days a
year.
Neglect and Abuse policy added into the handbook because we work with
children.
♣ Approved Recommendations/Revisions - any additional items
IA Report-
Updates by Pat Stout-5 people with Bob, they just meet on 10/19/17 at the main
office. The group viewed the building yesterday. Bobby gave the updates on
insurance from Blue Choice and an increase of 25%, and moving to Aetna and
the API gap plan which was a high deductible, but a plan that is working as of
right now. It is causing all staff to become more aware of choices. We will move
out to the insurance marketplace in January. Herman Williams asked about the
plan. Most updates will come through the IA report. The IA committee divided
and reported to various groups and talked with them and reported the thoughts
of employees back to the who IA group. Pat asked if any other IA members had
anything to say, all other information will be given in the final IA report.