NORTHWESTERN MICHIGAN COLLEGE
BOARD OF TRUSTEES
Monday, April 27, 2009, Oleson Center

CALL TO ORDER –

REVIEW AND APPROVAL OF AGENDA – On a motion by Doug Bishop, seconded by Bob Brick, the agenda was approved.

REPORTS:

Monthly Financial Report – There were no questions regarding this month’s financial report.

Foundation Report – Doug Bishop reported the following:

• The 2009 Scholarship Luncheon was held on April 17th.  Approximately 200 donors and student recipients had the opportunity to meet and get acquainted. Presidential Scholar Kristina Johnson spoke about what her scholarship has meant to her, and Foundation Board Emeritus member, David Gray, shared the story of his still-living 113-year-old grandfather, Henry Allingham, who inspired David to start a maritime scholarship in his honor.  
• The NMC Annual Community Campaign has met or exceeded all goals! A total of $350,000 has been raised from 703 donors, of which 104 are new. The popular, “Power of 10” appeal resulted in an increase in Alumni gifts of 530%, NMC Faculty and Staff contributed 14% of total dollars raised, and six new scholarships have been created,  The Annual Campaign Volunteer “Thank You” Breakfast was held in late March. We appreciate the help of all volunteers, especially our “high performance” co-chairs, Susan Sheldon and Bruce Byl.

Foundation Finance and Audit Report – Bob Brick reported that at the NMC Foundation Finance & Audit Committee meeting on April 22nd, the Committee:

• Heard a presentation from Northwestern Bank on their NMC Foundation portfolio investment performance outcomes, including
  • A portfolio market value of $1,373,114 as of March 31, 2009
  • Investments produced a Time Weighted Gross of Fees Year-To-Date Rate of Return of (8.33%) as of March 31, 2009.
• Received a Foundation Portfolio Summary Report and portfolio financials as of March 31, 2009, reflecting a combined ending market value of $19,712,906 and a fiscal year-to-date time weighted rate of return net of fees of (25.61%).
• Approved the FY10 Proposed Budget as presented reflecting a total budget with excess revenue to expense of $455,360.
• Approved the a Request for Qualifications and Request for Proposals to hire a consultant who will review the Foundation’s new draft investment and spending policy and advise regarding modifications and provide an analysis of current investments with regard to  diversification, performance, risk, style and overlap. It is expected that the consultant will perform this work beginning in August and concluding no later than the calendar year end.

BBQ Board report – Susan Sheldon reminded trustees that the NMC Barbecue is less than three weeks away!  Advance tickets are still only $5, and can be entered for a chance to win a full scholarship to NMC.  She asked trustees to encourage friends and colleagues to purchase tickets available at Oleson’s Food stores, local banks and credit unions, elementary schools and other locations. Twenty percent of any ticket purchased at an area elementary school will be returned to that school.  Susan said a subcommittee is evaluating ways to further our “greening” efforts this year. We already do considerable recycling, and will be looking for ways to make all of our waste compostable.

Board Policy Committee Report – Chair Cheryl Gore Follette said the Policy Committee recommends approval of Policy D-500.02, Sensitive Information, on a second-reading basis.

Board Chair Report – Chair Ross Childs reminded trustees about graduation on Saturday.  He said the Retirement and Recognition program was outstanding and commended Chris Keenan for doing a very nice job. The comments by Foundation Excellence Awards winners were very moving—both spoke of NMC as “family.”

President’s Report – President Tim Nelson:

• commented on his recent testimony given before the Michigan Senate Appropriations Subcommittee on Community colleges regarding concerns about language in the appropriations bill;
• provided an update on legislation that might affect community colleges’ ability to retain local control;
• described the movement toward concurrent college credit;
• said MCCA continues to work toward the targeted community college baccalaureate degrees;
• and said  the college is beginning to have conversations about how to evaluate our learning outcomes based on international standards.

PUBLIC INPUT – Marv Studinger, Business faculty, presented a memo requesting that health benefits that were reduced last year be reinstated by putting $300-$400 into each employee’s flexible medical reimbursement account.

ACTION ITEMS

Truth-in-Taxation and Budget Hearing Notice – On a motion by Cheryl  Follette, seconded by Doug Bishop, the Truth-in-Taxation First Resolution was adopted as presented.

Adoption of Board Policy D-500.02 Sensitive Information Policy – Cheryl Follette made a motion to adopt Policy D-500.02 Sensitive Information Policy on a second-reading basis.  Seconded by Bob Brick, the motion carried.

Facilities Contract Extension – Doug Bishop made a motion to authorize the administration to enter into a one-year extension of the contractual agreement in the amount of $398,060 with Sodexo to provide facilities management services effective July 1, 2009 through June 30, 2010.  The contract will be funded from the FY10 Campus Services general fund budget.  Seconded by Jay Hooper, the motion carried.

Aviation Purchase – Bill Myers made a motion, seconded by Bob Brick, to authorize the administration to seek quotations for scheduled replacement engines for the Aztec twin-engine aircraft and purchase for an amount not to exceed $65,000, to be funded from the Aviation General Fund budget.  Motion carried.

ADJOURNMENT – The meeting adjourned at 7:15 p.m.

Recorded by Karen Sabin