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TEXAS SCHOOL FOR THE BLIND AND VISUALLY IMPAIRED

FINANCE COMMITTEE MEETING MINUTES

April 8, 2016

                                                                                                       

Call to Order:  Michael Garrett called the regularly scheduled meeting of the Finance Committee to order at 8:00 a.m. on April 8, 2016, in Room 102 of Building 600 at the Texas School for the Blind and Visually Impaired, 1100 W. 45th St., Austin, TX.

In addition to Mr. Garrett, the following Committee member was present:  Bobby Druesedow.  The following Committee member was absent: Michael Hanley.

TSBVI staff members present were: Pam Darden, the new Chief Financial Officer; Kate Mainzer, Human Resource Director; Willis (Bill) Holland, Accounting Director; Mike Wolszon, IR Director; John Daude, Operations Director; Brian McDonald, the new Director of Support Services; and Karen Brown, Budget Analyst.

Introduction of Pam Darden as the new Chief Financial Officer: Michael Garrett introduced Pam Darden as the new Chief Financial Officer.

Introduction of Brian McDonald as the new Director of Support Services: John Daude introduced Brian McDonald as the new Director of Support Services.

Consideration of appointment of Pam Darden as the Chief Investment Officer:  Bobby Druesedow moved to approve Pam Darden as the Chief Investment  Officer. Michael Garrett seconded the motion. The motion passed unanimously.

Consideration of Approval of Minutes of the January 29, 2016, Meeting: A motion to accept the Minutes of the January 29, 2016, committee meeting as presented was made by Bobby Druesedow. Michael Garrett seconded the motion. The motion passed unanimously.  

Consideration of Approval of Investment Report: Pam Darden presented the Investment Report for the five months ended January 31, 2016. The total short-term investments balance at 01/31/16 was reported as $893,375.98. Pam Darden added that she will develop and present at the next meeting a report showing the increase and decrease flow of funds.  Bobby Druesedow moved to accept the Investment Report as presented and the additional report for the next meeting. Michael Garrett seconded the motion. The motion passed unanimously.

Review of Donations Report: Pam Darden reviewed the Donations Report for the five months ended January 31, 2016. The total donations received year to date is $17,154.85. Pam Darden added that there were two donations received over $500.00. A check for $12,538.89 was received from the Beta Eta Chapter of Delta Gamma at UT. The other donation for $515.00 was received from TSBVI Administrators for the Annual Staff Appreciation Event in February.

Consideration of approval of receipt of gifts and donations of over $500: Pam Darden asked for consideration of approval of receipt of gifts and donations over $500.00. Bobby Druesedow moved to accept the donations over $500.00 as presented. Michael Garrett seconded the motion.

Consideration of approval of request for expenditures of gifts and donations: Pam Darden 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, with a directive to Pam Darden to submit to the Board an itemized list of what the expenditures were going toward in the FUSA/EXIT Program. Michael Garrett seconded the motion.

Review of budget reports: Pam Darden reviewed the Budget Report for the five months ended January 31, 2016. The benchmark for expenditures was 42%. The total percent of all budgets in the State Treasury used was 38%.

Michael Garrett asked Bill Holland to schedule a meeting with Tom Cagle, Senior Investment Strategist from Wells Fargo Bank to visit with Pam Darden to discuss TSBVI’s Wells Fargo account in detail.

Report from Human Resources Director: Kate Mainzer reported on the following:

    Currently, there are job postings of 2 teacher positions, a Residental Instructor and 1 Driver.  She recently received a resignation from one of the Outreach teachers. That posting is pending.HR will begin preparing 2016-17 Teacher Contracts after the Board approves the list of renewals at today's meeting.Every department, including HR, is gearing up for summer school.Kate Mainzer and Pam Darden have been working with the Comptroller's office on preliminary information related to the Centralized Accounting and Payroll/Personnel System (CAPPS) approval and implementation.

Report from Operations and Facilities Director: John Daude reported on the following:

    Construction - TFC is currently developing better cost estimates for the 1.5 million dollars that was approved from the last legislative session.  TFC and the School had agreed upon a specific list of improvements and deferred items.Landscaping -  TSBVI planted 32 live oak trees.Transportation –  TSBVI currently has  a large bus due for delivery.Miles is putting together a vehicle replacement committee for the remaining funds to replace aged vans. If this works the way it has in the past the administration may want to come back to the board to request additional funds.

Report from Information Resources Director: Mike Wolszon shared the recent experience of the IR department responding to a ransom-ware/crypto-virus attack. The IR department was both very lucky and very good.  They  stopped the attack in very short order and had all files restored from backup.  All services were restored by the end of the day of the attack.

Report from Accounting Director: Bill Holland reported that his office has been busy with the LBB audit and the fixed asset audit.

Report form Business, Operations & Technology Director: Pam Darden reported on the following:

    TSBVI is participating in a pilot program to assess our risk and readiness for on-boarding to the statewide Centralized Accounting and Payroll/Personnel System (CAPPS).Preparations for the Legislative Appropriations Request - LAR report are in order. The “Exceptional Item” will be the request for implementing CAPPS as the Payroll and Accounting software for TSBVI.Preparations for summer school timekeeping and budget meetings are being scheduled.

Adjournment: The meeting adjourned at 9:14 a.m.