Main content

Alert message

TEXAS SCHOOL FOR THE BLIND AND VISUALLY IMPAIRED

 FINANCE COMMITTEE MEETING MINUTES

 September 28, 2018

                                                                                                       

Call to Order:

Michael Garrett called the regularly scheduled meeting of the Finance Committee to order at 8:00 a.m. on Sept 28th, 2018, 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, Board member Bobby Druesedow Jr., Michael Hanley, Mary Alexander, Dan Brown, and Board President Joseph Muniz were present.

TSBVI staff members present were: Pamela Darden, Chief Financial Officer; Brian McDonald, Director of School Support Services; Amanda Hafer, Director of Accounting; Dan Hampton, Information Resource Director; Susan Morrison, General Counsel; Bill Daugherty, Superintendent and Josh Splinter, Budget Officer.

Consideration of Approval of Minutes of the September 28th, 2018 Meeting:

A motion to accept the minutes of the Sept 28th, 2018, committee meeting as presented was made by Mary Alexander. Bobby Druesedow seconded the motion. The motion passed unanimously.

Consideration of Approval of Board Policies:

Susan Morrison presented one policy, GKA which is the community relations on campus policy. It covers Trespassing, smoking, and drinking on campus. Susan explained that we have a grievance policy in place if anyone objects to being evicted from campus. Also as a state agency we have designated smoking locations outside the fences. Mary Alexander asked how we handle the trespassing on the buses at designated drop-off locations. Bill Daugherty replied stating that TSBVI’s practice would be for the staff on the bus to contact the local police agency.

Bobby Druesedow moved to approve the adoption of the new policies as amended. Michael Hanley seconded the motion. The motion passed unanimously.

Consideration of Approval of Investment Report:

Pamela Darden presented the Investment Report for the 12 months of fiscal year 2018 ended on August 31, 2018. The total short-term investments balance was reported as $465,796.14, and that earnings year-to-date on those are $7,415.97. Pam Darden stated that these funds are usually used to cover the difference between the Broday trust and what is spent out of Legacy. For FY19 though we will stick to the Broday Trust amount and these funds will be used for shortfalls in appropriated budget side. She also stated that the Texas Class is a high rate of return currently and we rolled funds from the CDs into the Texas Class Pool.  Bobby Druesedow made a motion to accept the Investment Report as presented. Dan Brown seconded the motion. The motion passed unanimously.

Review of Donations Report:

Pamela Darden reviewed the Donations Report for the fiscal year 2018 ended on August 31, 2018. The total donations over $500 received year to date was reported as $24,850.92 and donations under $500 totaled $4,625.15

Consideration of approval of receipt of gifts and donations of over $500:

Pamela Darden reported that there were four donations received for over $500.00 during this reporting period. $812 were proceeds from the spring play which go to the drama department. We received $1,000 from Janet and Michael Margrave and this was undesignated.  The Delta Gamma Foundation donated $2,373 which was undesignated and Andy McLauren donated $1,000 for the Jinna Mclauren award which is presented at graduation. Also reported was a total of $1,079.27 from donations under $500. Bobby Druesedow moved to accept the receipt of gifts and donations over $500 as presented. Mary Alexander seconded the motion. The motion passed unanimously.

Consideration of approval of request for expenditures of undesignated gifts and donations: 

Pamela Darden advised that the total for the year ending August 31, 2018 in undesignated was $7,515.40. Pam Darden requested approval from the board to transfer those funds in expanded core curriculum materials account. Michael Hanley made a motion to approve the transfer of the $7,515.40 into the expanded core curriculum account. Bobby Druesedow seconded the motion. The motion passed unanimously.

Review of budget reports:

Pamela Darden reviewed the Budget Report for the fiscal year 2018 ended on August 31, 2018. Pam stated that the report is pending the final year adjustments and that the board would receive the final total during the November board meeting. She stated she made changes to the report that will carry forward to all future reports. This is in effort to clarify actual cash available to support the budget. Pam Stated that the total short fall to this point is $338k. Those funds as the year closes out will be covered by Legacy.

Review of the Legacy Revenue report:

Pamela Darden reviewed the Budget Report for the fiscal year 2018 ended on August 31, 2018. Pamela stated that the estimated revenue was $789,600 and we actually collected $832,449. That was 105% of what was budgeted. Two Notes were added, first the quarterly Broday Trust payments increased and second, on this report it has been historically been called “Farm Rent”. The school does not actually get a rent but instead they receive a portion of what the farmers make on their share of the crops.  

Review of the Legacy Expenditure report:

Pamela Darden reviewed the Budget Report for the fiscal year 2018 ended on August 31, 2018. The remaining balance in Legacy, pending year end close is $106,780.  

Report from Information Resources Director: 

Dan Hampton reported they have consolidated the technology purchasing budgets into two accounts that he is responsible. This will allow him to keep a better eye on purchases and wasted expenses. For cyber security they have drawn back on the anticipated plan with the current financial situations. He said the new plan is a step above where we are right not but a step below the grand end all plan we originally looked at.

Report from School Support Services:

Brian McDonald provided an update on BLDG. 4801, he stated they completed several different upgrades to that building over the summer. The demolition of BLDG 507 is complete and the current architectural analysis and drawings are in the value engineering stage. The biggest adjustment is the schedule right now. The start was supposed to be October but will not be January through to the end of May.

Adjournment:

At 8:58 AM Joseph Muniz called the meeting into a closed session. They returned to an open session at 9:40. No action was needed from the closed session. Bobby Druesedow entertained a motion to adjourn the meeting. Dan Brown seconded the motion and the motion passed unanimously. The meeting adjourned at 09:45 a.m.

End of document