College of Dupage Board of Trustees May 21, 2020 Regular Board
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COLLEGE OF DuPAGE Regular Board of Trustees Meeting @ 6:00 p.m. May 21, 2020 Page 1 of 237 Page 2 of 237 NOTICE AND AGENDA THE REGULAR BOARD MEETING OF THE BOARD OF TRUSTEES OF COMMUNITY COLLEGE DISTRICT #502, COUNTIES OF DuPAGE, COOK AND WILL, STATE OF ILLINOIS, WILL HOLD THE FOLLOWING COMMITTEE MEETING VIRTUALLY PER EXECUTIVE ORDER 2020-07 AND THE AUDIO WILL BE AVAILABLE ONLINE AT https://www.cod.edu/about/administration/multimedia_services/live-streaming/botmedia.aspx MEETING: REGULAR BOARD MEETING THURSDAY, MAY 21, 2020 6:00 P.M. ~ ROOM SSC-2200 As our COD community navigates through this unprecedented time, in an abundance of caution to protect our community and limit the spread of the COVID-19 virus, members of the public are invited to view a livestream of the proceedings at Board of Trustee Meeting Streaming Media. *In lieu of providing public comment in person, members of the public may send statements to the Board of Trustees by e- mail at [email protected]. Please be aware that e-mails sent to the Board of Trustees will be read individually and entered into the record, but not read aloud at the Board of Trustees meeting. AGENDA 1. CALL TO ORDER / ROLL CALL 2. PUBLIC COMMENT* see above 3. CLOSED SESSION 4. RETURN TO OPEN SESSION 5. REPORTS a. Chairman’s Report b. Student Trustee Report c. President’s Report d. General Counsel Search Committee Report e. Budget Committee Report f. Audit Committee Report 6. PRESENTATIONS o Outstanding Faculty . Dr. Mark Curtis-Chávez, Provost o Dual Credit Update . Cynthia Sims, Associate Vice President Academic Partnerships and Learning Resources o Cyber Security . Donna Berliner, Director Information Technology o Proposed FY21 Budget . Robert Hayley, Budget Manager Page 3 of 237 7. INFORMATION a. Personnel Items b. Financial Statements c. Gifts Report d. Construction Change Orders e. Monthly Construction Update f. Grants Report g. In-Kind Quarterly Donations Report 8. CONSENT AGENDA a. Change Orders b. Biometric Screening Services “Wellness Screening” c. Hewlett Packard (HP) Computer Laptops for Career and Technical Education (CTE) Adjunct Faculty and Students d. 3D Printers for Manufacturing Technology e. Institute for Excellence & Leadership Continuing Education f. Marketing and Public Relations Services for the McAninch Arts Center (MAC) – Proposal Rejection g. SLEA Vehicle Purchase h. Athletics Supplies BSN Increase i. Face Masks Emergency Spend Increase j. Minutes of the April 16, 2020 Organizational & Regular Board Meeting k. Closed Session Minutes: a. April 16, 2020 Closed Session Minutes l. Personnel Approval m. Financial Reports n. Reimbursement Request for Trustee Maureen Dunne o. CARES Act Student Relief Funds Phase 1 9. APPROVAL: American Express Expense Management and Business Travel Solutions 10. APPROVAL: Closed Session Minutes of the December 20, 2019 Regular Board Meeting 11. TRUSTEE DISCUSSION 12. CALENDAR DATES / Campus Events Thursday, June 25, 2020 Public Hearing: FY2021 Budget @ 5:45 p.m. – SSC2200 Thursday, June 25, 2020 Regular Board Meeting @ 6:00 p.m. – SSC-2200 13. CLOSED SESSION (if needed) 14. ADJOURN DANIEL MARKWELL, SECRETARY BOARD OF TRUSTEES OF COMMUNITY COLLEGE DISTRICT NO. 502, COUNTIES OF DuPAGE, COOK AND WILL, STATE OF ILLINOIS Posted 5/19/20 Page 4 of 237 Page 5 of 237 Item 7 May 21, 2020 INFORMATION a. Personnel Items b. Financial Statements c. Gifts Report d. Construction Change Orders e. Monthly Construction Update f. Grants Report g. In-Kind Quarterly Donations Report Page 6 of 237 Page 7 of 237 Item 7a May 21, 2020 COLLEGE OF DuPAGE REGULAR BOARD MEETING BOARD INFORMATION 1. SUBJECTU Personnel Actions for Board Information. 2. BACKGROUNDU INFORMATION The following personnel actions are provided for information only: a) Classified Promotions / Transfers b) Managerial Resignations c) Classified Resignations d) SURS Retirements Staff Contact: Linda Sands-Vankerk, Vice President, Human Resources and Project Hire-Ed Page 8 of 237 Item 7a May 21, 2020 PROMOTIONS / TRANSFERS NameU TitleU U DepartmentU U StartU Date U U TypeU SU alary CLASSIFIED Lisa Saltiel Program Support Specialist Arts, Communication and 05/04/2020 Transfer $51,168. Hospitality RESIGNATIONS Years of NameU TitleU U DepartmentU U EndU Date U U TypeU ServiceU MANAGERIAL Laura Daly Interim Manager, Student Student Financial 04/24/2020 Resignation 3 Yrs. 10 Mos. Financial Aid Aid CLASSIFIED Michele Reinders Programmer Analyst II Information Systems 04/30/2020 Resignation 6 Yrs. 3 Mos. Joyce Stuart Administrative Assistant II Counseling, Advising & 05/01/2020 Resignation 1 Yrs. 3 Mos. Transfer Page 9 of 237 Item 7a May 21, 2020 RETIREMENTS Years of NameU TitleU U DepartmentU U EndU Date U U TypeU ServiceU CLASSIFIED Lisa Berquist Instructional Assistant II Learning Commons 05/28/2020 SURS Retirement 18 Yrs. 9 Mos. Charlene Mohr Library Assistant I Library 06/03/2020 SURS Retirement 13 Yrs. 0 Mos. Page 10 of 237 Page 11 of 237 Item 7b May 21, 2020 COLLEGE OF DuPAGE REGULAR BOARD MEETING BOARD INFORMATION 1. SUBJECT Financial Statements: Schedule of Investments, General Fund – Budget and Expenditures, Operating Cash Available to Pay Annual Operating Expenses, and Tax Levy Collections. 2. REASON FOR CONSIDERATION Provided for Board information. 3. BACKGROUND INFORMATION a) Schedule of Investments – This report is presented to the Board for information each month. It lists the Schedule of Investments for each of the College’s Funds. The report details the purchase and maturity dates and interest rate earned. b) General Fund – Budget and Expenditures – This report is presented to the Board for information each month. It lists the budget-to-actual results for the current fiscal year for the General Fund. c) Operating Cash Available to Pay Annual Operating Expenses – This report is presented to the Board for information each month. It shows the amount of operating cash and investments on hand and Board-approved fund balance restrictions compared to prior year annual operating expenses and presents the ratio of cash available to annual operating expenses. d) Disposal of Capital Assets - This report is presented to the Board for information on a quarterly basis. This report lists the reason for the disposal, location, number of items and their respective dollar values. Page 12 of 237 Item 7b May 21, 2020 e) Tax Levy Collections – This report is presented to the Board for discussion purposes on a quarterly basis (July, October, January, April). This report lists the tax receipts by counties and also by each of the funds that levy taxes. f) Budgetary Position Additions – This report is presented to the Board for information on a monthly basis. This report lists the positions that have been added after the Annual Budget was adopted. Staff Contact: Ellen Roberts, Interim VP Administration, Scott Brady, Interim CFO and Treasurer, David Virgilio, Interim Controller Page 13 of 237 a. COLLEGE OF DUPAGE TREASURY PORTFOLIO OVERVIEW AS OF APRIL 30, 2020 1 Page 14 of 237 Overview of What the College Can Invest in • Summary of authorized investment types and limitations Limitation of fair market value of the total portfolio Item Investment Types Max. Aggregate Max. Single Issuer 1US Treasury bonds, bills, notes No limit No limit 2Fed agency bonds / notes 25% in callable, no limit in non‐callable None 3Negotiable interest‐bearing certificates of deposit 30% 5% 4 Commercial paper 30% 5% 5 State and municipal bonds 30% 5% 6 Collateralized repurchase agreements 10% None 7 Mutual funds in money market funds No limit 20% 8 Mutual funds in short term corporate bonds funds 15% 5% 9 Illinois Trust, IL Funds, ISDLA Fund Plus 15% 5% Please refer to Board Policy 10‐55 for further detail. • No more than 40% of the fair market value of the portfolio shall be invested in non‐government securities • The specific objectives of the policy prioritize safety over liquidity and return • The policy prohibits direct investments in any derivatives, private placements and unregistered stock 2 Page 15 of 237 Overview of Investment Performance • For the month ended April 30, 2020, the College had an average cash and investment balance of $296.4 million. The average investment balance was $287.3 million. QE 3/31/20 ME 4/30/20 Fiscal YTD Average Investment Balance ($millions)$ 295.1 $ 287.3 $ 302.3 Interest Earned (Yield)$ 1,410,593 $ 425,350 $ 5,402,726 Annualized Yield % 1.91% 1.78% 2.14% Realized Gain/(Loss) $ (5,692) $ 722 $ (7,445) Yield + Realized Gain/(Loss) $ 1,404,901 $ 426,072 $ 5,395,281 Annualized Yield + Realized Gain/(Loss)% 1.90% 1.78% 2.14% Unrealized Gain/(Loss)** $ 3,049,139 $ (284,580) $ 2,632,813 Net Yield + Realized & Unrealized Gain/(Loss) $ 4,454,040 $ 141,492 $ 8,028,094 Annualized % 6.04% 0.59% 3.19% *Realized gain of $722 reported in this month is due to maturity of the securities that were purchased at a discount. The College buys a security at a discount when its coupon rate is favorable to earn higher interest income over the life of the security. **Unrealized gains/losses from BMO portfolios due mainly to market price fluctuations. Given high quality of assets, if held to term losses are unlikely. 1 – Return, here and on following pages, calculated by: (total income plus realized & unrealized gain/loss)/average period portfolio balance. 2 – The average period balance is calculated using the total balance at the beginning and at the end of that period. 3 – College owns certain securities, including commercial paper, which are bought at a discount or premium and pay interest when matured. 3 Page