NORTHWESTERN MICHIGAN COLLEGE
BOARD OF TRUSTEES
TUESDAY, AUGUST 28, 2007, OLESON CENTER

CALL TO ORDER — Chair Walter J. Hooper called the meeting to order at 6:26 p.m.

APPROVAL OF AGENDA — Ross Childs moved to approve the agenda. Seconded by Bill Myers, the motion carried.

FACULTY COUNCIL REPORT - Faculty Council Chair Gordon Niemi reported about the general faculty meeting, which was very well-attended.  Topics discussed included new syllabi requirements, benefits issues that remained from the summer, the ratio of adjunct to full-time faculty, and the new policy regarding top of the adjunct pay scale being equal to overload pay, which has been our practice.

BOARD POLICY COMMITTEE REPORT - Committee Chair Jay Hooper said the committee did not meet in August.

FOUNDATION REPORT - Cheryl Follette reported that, at their meeting tomorrow morning at the Oleson Center, the Foundation will:

• Welcome a new student representative to the board, Melanie Schurkamp.  Melanie is Vice President of Service for Phi Theta Kappa, while attending classes at NMC and Ferris to earn her bachelor’s degree in Business Administration, with special emphasis on event coordination.  She also holds a part-time job at the National Cherry Festival office.
• Hear a report on plans for the annual community campaign—to be chaired this year by our own alumnus and Foundation Board member Bruce Byl.
• Hear a report that the annual Presidential Scholarship breakfast was held last Thursday, August 23, honoring eleven incoming Presidential Scholars.  Thanks to Ross Childs and Bill Myers who attended.  This is an event that energizes and reminds us of our fundraising focus, the students.
• Hear a report that the NMC Scholarship Open held on August 2 brought some 260 golfers to Crystal Mountain and raised approximately $75,000 for Honors Scholarships.  The feedback has been positive, and next year’s outing has already been scheduled for Thursday, August 7.  A new element this year was a silent auction of sports memorabilia, which netted an additional $2,000 for scholarships.

FOUNDATION FINANCE AND AUDIT COMMITTEE REPORT - Ross Childs reported that at the NMC Foundation Finance & Audit Committee met on August 22, the Committee:

• Heard a presentation on the NMC Foundation portfolio investment performance from Northwestern Bank.  Investments produced a time weighted calendar year-to-date rate of return of 4.57% as of July 31, 2007.  
• Reviewed the net sale of $602,932.30 of the Deepwater Point property gifted through the Richard Engstrom estate.  Sale proceeds are on deposit at Fifth Third Bank and are designated for the Richard Engstrom Endowed Scholarship.
• Received an overall portfolio report for the quarter ending June 30, 2007 reflecting a 5.09% return and FYTD net time weighted return of 14.57%.
• Received a quarterly statement of activities for the Foundation which reflects excess revenue to expenses of $3,588,055 as of June 30, 2007.

BOARD CHAIR REPORT - No report.

PRESIDENT'S REPORT - No report. President Nelson left the meeting early to attend an event associated with the Midwest Legislative Conference of the Council of State Governments.

PUBLIC INPUT - There was no public input.

CONSENT ITEMS - On a motion by Elaine Wood, seconded by Bill Myers, the following items were approved:

• Minutes of the July 23, 2007, regular meeting.
• Contributions for July, 2007 totaling $769,626.73.
• Summary Report for General Fund Accounts as of July 31, 2007 (attached).

OPERATIONAL PURCHASE ORDERS - Bob Brick made a motion to authorize the administration to issue operational purchase orders to specific vendors in amounts not to exceed the estimated yearly costs per vendor, as listed.  Seconded by Doug Bishop, the motion carried.

DISCUSSION - Elaine Wood asked for a brief assessment on enrollment for fall.  Stephen Siciliano, Vice President for Educational Services, reported that, although our official “count day” has yet to occur, total headcount is currently about 100 above last year. Even more impressive is that our efficiency ratio has increased considerably, to about 90 percent. He credited considerable planning and hard work on the part of academic chairs, division directors, faculty advisers and counselors in making this achievement possible.

ADJOURNMENT - The meeting adjourned at 6:38 p.m.

Recorded by Karen Sabin
Amended December 17, 2007