January 2021 Meeting Minutes

January 2021 Meeting Minutes

Board of Trustees

Jan. 14, 2021

The North Arkansas College Board of Trustees met in regular session on Thursday, 14 January via Zoom call. Chair Miller called the meeting to order at 3:01 p.m. Trustees Debbie Johnson, Linda Pledger, Pam Henry, Chris McNew, Kevin Cheri, Sarah Newman, and Don Tomlinson were present.

North Arkansas College personnel attending included Richard Stipe, Mandy Kilbourn, Nell Bonds, Brandon Cone, Eddie Phillips, Ricci Dillon, John Gripka , Melissa Bray, Scott Howie, Carla Jacobs, Brandy Gatlin, Jessica Butterfield, Dr. Josephine Kershaw, Sarah Bing , Tavonda Brown, Dr. Rodney Arnold, Rick Massengale, Brandon Cone, Jennifer Marshall, Judge Robert Hathaway, and James White from Harrison Daily Times.

Approval of Agenda

Chair Miller asked if there were any changes to the agenda as presented. There being none a motion was made, unanimously approved.

Oath to Office

Judge Hathaway sworn in three new Board of Trustees; Linda Pledger, Pam Henry, and Debbie Johnson.  They replaced former members; Bill Lovell, David Evans, and Sarah Jo Fendley.

Regular Reports

Finance Report—Richard Stipe shared E&G and Auxiliary budget activities through December 2020.

In the E&G fund, Richard Stipe stated the year-to-date total revenue was at $9,107,816 and the expenditures ended at $7,190,103. The year-to-date total ended with a net gain of $1,737,066.  Richard stated the revenue and expenditures are trending consistently to previous years.

Auxiliary: Revenue for the end of December totaled $624,805 and the Expenditures totaled $663,460. The year-to-date total ended with a net gain of $106,029. Richard stated the revenue was below some, but now has caught back up to previous years.  Richard briefly discussed the change in format of the Operating budget monthly report.

Mr. Stipe ended the report with the revenue budget projections- Student Semester Credit Hours impact that included the spring enrollment as of January 14, 2021.

 

President’s Report—Dr. Esters mentioned the Google maps virtual tour is added to the college website. He listed the current numbers of enrollment with the headcount at 1,395 and the student semester credit hours at 14,755. Dr. Esters gave an update on current grants the college has received. He stated as of now, the Governor is not contributing funds for the Center for Robotics and Manufacturing building, however we can reapply in April 2021.  Dr. Esters ended his report with the timeline for the Covid-19 vaccine clinic.

 

Consent Agenda

The Consent Agenda included the December Regular Meeting Minutes, Certification of Solvency. Chair Miller asked for a motion to approve the Consent Agenda. A motion was made by Trustee Newman seconded by Trustee Cheri, and unanimously approved.

 

Monitoring Report

Mandy Kilbourn presented the Funding Formula report. Mandy gave an overview of the funding formula for year four. Mandy gave a breakdown of the productivity index categories that determine our funding. She gave an overview of Effectiveness & Affordability and stated the funding base is at $7,807,078 with the state funding at $7,650,936 for financial year 2022.

Richard Stipe presented Increase reserves; improve efficiencies report. He gave an overview of the Affordability and discussed the fund balance as percent of revenue w/GASB pension and OPEB liability. He stated Northark hit the target line for the fund balance. Expenditures per FTE with GASB pension and OPEB liability has stayed in line with other peer institutions. The student service, Institutional, Physical Plant expenditures per FTE are slightly below the average for Arkansas two- year colleges. Richard stated the tuition and fees: in- district are at $3,090 for the 2020-20201 fiscal year and below the average tuition of Arkansas two-year colleges at $3,650. Tuition and fees: in-state are at $3,840 compared to the average Arkansas two-year colleges, $3,958. Richard reported with a comparisons chart of affordability of tuition and mandatory fees. Northark placed fifth In- District and eleventh for In-State.  

 

Trustee Cheri moved to adjourn the meeting. Trustee Newman seconded the motion, which was unanimously approved.