January 2022 Meeting Minutes

January 2022 Meeting Minutes

Board of Trustees

January 13, 2022

 The North Arkansas College Board of Trustees met in regular session on Thursday, 13 January 2022 via Zoom conference call. Chair Newman called the meeting to order at 3:00 p.m. Trustees Kevin Cheri, Pam Henry, Linda Pledger, Chris McNew, R.G. Earnest, Scott Miller were present.

North Arkansas College personnel attending included Richard Stipe, Mandy Kilbourn, Micki Somers, Dr. Matt Cardin, Dr. Josephine Kershaw, Tavonda Brown, Dr. Rodney Arnold, Ricci Dillon, Nell Bonds, Melissa Bray, Scott Howie, and James White from Harrison Daily Times.

 

Approval of Agenda

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

 

Regular Reports

Finance Report—Richard Stipe shared E&G and Auxiliary budget activities through December 31, 2021.

In the E&G fund, Richard Stipe stated the year-to-date total revenue was $9,937,187, this is 66% of the budget. Richard commented, the enrollment numbers were up last Fall semester and so far up for the Spring semester but lagging a little from what was budgeted. He commented they budgeted aggressively on the tuition enrollment numbers. The expenditures ended at $7,836,205 and 53% of the year-to-date budget.

Auxiliary: Revenue for the current month ended at $42,211 with a year-to-date total of $879,196. Expenditures current month total ended at $135,194 and a year-to-date total of $914,230. Richard stated the Expenditures are trending a little higher for the month of December and Richard noted some of the expense was not budgeting for the E-sports program.

 

President's Report—Dr. Massengale stated the Student Semester Credit Hours were 15,818 and the Headcount was 1601 for the spring 2022 semester. Dr. Massengale spoke about the Spring 2022 Convocation with guest speaker, Charlotte Strickland. The Economic Department Association (EDA) grant moved to the next step towards the Robotics and Manufacturing Innovation building. Perkins reserve grant was awarded $50,000 to purchase a mini excavator for the construction equipment operations program.

Consent Agenda

The Consent Agenda included the December regular meeting minutes, December special meeting minutes, policy: Social Media, new position: Men's and Women's Soccer Coach, and New Studio Arts Degree. Chair Newman asked for a motion to approve the Consent Agenda. A motion was made by Trustee Earnest, seconded by Trustee Henry, and unanimously approved.

Monitoring Report

Mandy Kilbourn presented the Funding Formula report. Mandy gave an overview of the funding formula for year five. She reported a breakdown of the productivity index categories that determine our funding and an overview of Effectiveness & Affordability. She noted the State released the model but has not released the final numbers at this time. The funding base is at $ 7,650,937, a predicted loss of $67,251 for the financial year 2022-2023. Mandy ended the report with a breakdown of the biggest impacts to Northark and the changes to funding.

There being no further business, Chair Sarah Newman adjourned the meeting.