2025 March Agenda and Minutes

Approve new 2025 $2.25M Bond Issue Documents

Chair Feighert asked VP of Finance and Administration, Richard Stipe if he had any additional comments. Richard introduced Kevin Faught, Senior VP of Stephens, Inc. who has helped with the process of the bond documents. He pointed out we received good pricing for the bonds. Trustee Tomlinson asked if this caps our county milage. Mr. Stipe said we are at a maximum position that the college would want to be at, but we do have some “wiggle room.” Trustee Feighert asked how long the wait time is if we could finance. Richard said it is five years.

A motion was made by Trustee Tomlinson, seconded by Trustee Patience, and unanimously approved.

Approve investigation of an agreement with University of Arkansas System and appoint Board Chair and Northark President as leads.

Which reads, to ensure Northark is a future-focused institution providing the highest quality education, and to enable the college to provide expanded opportunities for student and employee professional and education growth, the Board of Trustees request that I, as Board Chair, and President Dr. Massengale discuss an affiliation agreement with the University of Arkansas System. If, upon further exploration, this partnership is forthcoming, Dr. Massengale and I will present the agreement to the Board for its review and approval. If the agreement is also approved by the Board of Trustees of the University of Arkansas System, this would initiate the process to further explore becoming a member college of the University of Arkansas System. If the Board of Trustees would like to make such a request, a motion and vote are appropriate at this time, as well as any discussion in which the Board wishes to engage.

Chair Feighert asked Dr. Massengale to comment on the item. Dr. Massengale stated that the educational landscape has changed significantly since COVID-19. He mentioned that when he assumed the role of President, he was advised to "keep it between the ditches" and believes the Cabinet has successfully met this expectation. He emphasized that his duty is also to take care of the students. He shared an experience with a high school student who was receiving a scholarship and mentioned that he looked forward to seeing her on campus. The student replied that Northark was the only college she could afford. Dr. Massengale explained that one of the key reasons he brought the investigation to the Cabinet and Board was his understanding that if a student receives a degree from Northark, they can continue at the University of Arkansas, Fayetteville, through the transfer scholarship at the Northark tuition rate. Alternatively, students can attend the University of Arkansas, Fort Smith, a sister institution, and receive a $100 discount per credit hour off their tuition rate, which is just one dollar less than Northark's tuition.

Dr. Massengale reminded the Board that this item is only to initiate an investigation into the University of Arkansas System in Little Rock, as there is still much research that needs to be done.

He further expressed that he wants to offer Northark’s students the same opportunities that smaller institutions can provide through the U of A System. This initiative would also enhance educational opportunities for Northark students, employees, and the broader community. 

Trustee Don Tomlinson asked how many agreements Northark has with other institutions. Dr. Massengale responded that Northark has Memorandums of Understanding (MOUs) with four-year institutions in the state. Trustee Tomlinson then asked if Northark students receive the same tuition rate when transferring to these four-year institutions. Dr. Massengale clarified that there are no agreements in place to guarantee Northark students the same tuition rate when transferring. 

Trustee Patience asked whether the tuition rate would remain stable or increase over time, potentially making it less beneficial for students. Dr. Massengale acknowledged that he expects tuition to rise gradually over time but believes it will continue to increase slowly. He noted that there were once twenty-two independent colleges in the state, but now fewer community colleges remain independent. 

Trustee Burnside inquired whether online education would be included in the Northark transfer rate. Dr. Massengale responded that he did not know the answer at that moment but emphasized that the approval would allow them to investigate and gather answers to such questions. Trustee Burnside noted that Harrison High School has observed students deliberately choosing to attend U of A Fort Smith due to the benefits of the transfer scholarship. 

Chair Feighert asked, "Why now?" Dr. Massengale explained that education is currently in a particularly volatile state, more so than he can remember. He highlighted that approval of this investigation would provide access to numerous legal experts and professional staff within the U of A System. Dr. Massengale stated that the region is underserved by the U of A System from an institutional perspective and that this initiative would align with both Northark's and the U of A System's missions to serve students. He added that while Northark still needs to engage with faculty, staff, and the community, the investigation must be approved in order to proceed with further research. A motion was made by Trustee Tomlinson, seconded by Trustee Pledger, and unanimously approved.

The commencement award committee, Trustee Pledger on behalf of committee Chair McNew, and committee proposed Mary Mallett to receive the Board of Trustees Commencement award. No other recommendations were received from the floor. Dr. Massengale announced that former Board member, Scott Miller will receive the Presidential Citation award. A motion was made by Trustee Pledger seconded by Burnside, and unanimously approved.