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Minutes of Meeting

Committee on Finance

Texas School for the Blind and Visually Impaired
January 29, 2016

Michael Garrett called the regularly scheduled meeting of the Committee of Finance and Audit to order at 8:00 a.m. on January 29, 2016, in Room 102 of Building 600 at the Texas School for the Blind and Visually Impaired, 1100 W. 45th St., Austin, TX. The other Committee members present were Bobby Druesedow, Michael Hanley. Staff members present were Barney Schulz, Chief Financial Officer; Kate Mainzer, Human Resource Director; Willis (Bill) Holland, Accounting Director; Mike Wolszon, IR Director; John Daude, Operations Director; Karen Brown, Budget Analyst

A motion to accept the Minutes of the November 20, 2015 committee meeting as presented was made by Bobby Druesedow. Michael Garrett seconded the motion. The motion passed unanimously.

Bill Holland reviewed the following Board Policies and asked for the consideration of approval of policies CFEA and CHF.

CFDA Accounting: School Activity Fund Management (review)
CFDB Accounting: Student Trust Fund (review)
CFE Accounting: Payroll Procedures (review)
CFEA Payroll Procedures: Salary Deductions (amend)
CFG Accounting: Cash Received for School Purposes (review)
CG Bonded Employees and Officers (review)
CHF Purchasing and Acquisition: Payment Procedures (amend)
CV Facilities Construction (review)

Bobby Druesedow moved to accept policy CFEA and CHF as amended. Michael Garrett seconded the motion. The motion passed unanimously.

Bill Holland presented the Investment Report for the three months ended November 30, 2015. The total short-term investments balance at 11/30/15 was reported as $861,985.82. Bobby Druesedow moved to accept the Investment Report as presented. Michael Garrett seconded the motion. The motion passed unanimously.

Bill Holland asked for consideration of adoption of a resolution regarding the review of the investment policy – CDA and strategies of TSBVI.

Bobby Druesedow moved to approve the adoption of a resolution regarding the review of the investment policy – CDA and strategies of TSBVI. Michael Garrett seconded the motion. The motion passed unanimously.
Minutes of Meeting

Bill Holland reviewed the Donations Report for the three months ended November 30, 2015. The total of donations received year to date is $3,231.00. Mr. Holland added that there was one donation received over $500.00. A check for $2,250.00 was received from the US Association for Blind Athletes to sponsor and implement a National Fitness Challenge program at TSBVI.

Bill Holland asked for consideration of approval of receipt of gifts and donations over $500.00. Bobby Druesedow moved to accept the donation over $500.00 as presented. Michael Garrett seconded the motion.

Bill Holland asked for consideration of approval of request for expenditures of gifts and donations. Bobby Druesedow moved to approve the request for expenditures of gifts and donations. Michael Garrett seconded the motion.

Bill Holland reviewed the Budget Report for the three months ended November 30, 2015. The benchmark for expenditures was 25%. The total of all budgets in the State Treasury was 25%.

Kate Mainzer reported working on information for the LBB audit, going through the hiring process for the new CFO, and working with The Comptroller’s Office to implement the Centralized Accounting and Payroll/Personnel System - CAPPS.

John Daude discussed the following:

• Upcoming construction, TFC has 1.5 million for deferred maintenance. I will include correcting electrical grid issues left over from the original construction, replacement of mechanical systems at the 570 series dorms and other minor repairs on campus.

• Transportation issues such as vehicle replacement of vans, and buses. We have permission to increase our fleet size from 29 to 36. One of these increases will be a large 48 passenger bus so we can eliminate the last charter bus we use. The other considerations are to purchase SUV’s to transport small groups 1 to 6 staff and students, instead of using a 15 passenger bus or van. And, to purchase Prius Hybrids for Outreach to replace the rental car and gas expenses they incur traveling around Texas.

• Since TFC has been providing the cleaning, grounds and maintenance for the campus, they appear to be doing a reasonable job and improving.

• Preparations to retire and assisting the new Operations Director.

Mike Wolszon discussed the following:

• The IR department is doing well.
• We have posted a job opening for a Systems Administrator and hope to have it filled soon.
• Stacey, our Webmaster is developing plans to completely redo our website.
• Our programmer has been busy creating changes and enhancements to the Student Care System, and has been very well received.
• The Collective Access video cataloging program is nearly ready to deploy, including 54 usable terabytes of storage.

Bill Holland reported that the 1099’s are in the mail and the W-2’s will be going in the mail soon. He also mentioned his office is busy working on the LBB Data Request.

Barney Schulz reported that he will be working 2 days a week towards the end of February, and will possibly be here in May to prepare for the Legislative Appropriations Request - LAR if the new CFO requests it, and Bill Daugherty approves it.

Adjournment: The meeting adjourned at 9:03 a.m.