By RICK HAYES
---- — INA — Mt. Vernon pharmacist Eric Black is the new chairman of the Rend Lake College Board of Trustees.
Black was appointed during the November board meeting on Tuesday, following the resignation of board chairman Bryan Drew, a Benton attorney.
Drew had served on the Board of Trustees for eight years, it was reported.
"I appreciate the opportunity and the people of our district who gave me the honor of serving on the board," Drew told fellow board members. "I love Rend Lake College. My mother, father and brother all went here. It was a good beginning for all of us."
Drew requested his replacement be from the Franklin County area, and the board appointed Randall Crocker to fill Drew's position.
Russ Courter of Clifton, Gunderson LLP presented highlights of the Fiscal Year 2013 audit. As of June 30, the district showed assets of $56.2 million, liabilities of $23.3 million and net assets of $33 million.
Current assets increased by $4.3 million due to the fact the college experienced an increase in its cash position when compared to the same time in the previous fiscal year, it was reported. Courter said this was due to more timely state payments received, the additional cash reserves held which are associated with the move to a fully self-insured group medical program, and the issuance of working cash bonds.
Liabilities increased $1 million due primarily to paying off outstanding bond and lease obligations which was offset by the issuance of new debt.
The college's total net assets increased by $2.7 million. This was the result of the college's ability to effectively manage all revenues received for maximum benefit coupled with the revenues received as proceeds from the sale of working cash bonds.
The college continues to be very dependent upon the revenues received from tuition and fees and the resulting state payments which are directly tied to credit hour generation, it was reported. This dependency will prove even more significant when one considers the shift in funding based not only upon credit hour generation but also on retention, completion and student success.
The college has recognized several areas of potential opportunity which are likely to allow the college to continue to maintain a strong financial position, the summary stated.
"In summary, in light of current fiscal pressures, the college has been able to position itself in such a way that future advancements in college programs and facilities can be attained," it concluded.
IN OTHER BUSINESS:
n The Board conducted a first reading on a nepotism policy, which prevents family members of board members, the president and vice president from being employed by the district.
n Held a first reading on policy and procedures regarding campus security and the use of force.
n Was given permission to advertise for bids for a new anatomy/physiology/cadaver lab in the Science Building. Estimated cost of the project is $246,891 and will be funded with Title III grant funds.
n Approved a memorandum of understanding between the district and the U.S. Army Corps of Engineers, St. Louis district, to plan and implement mutually beneficial programs, projects and activities that educate, maintain and enhance the natural resource management program.
n In personnel action, the board approved job descriptions and will advertise for a coordinator of Title III Health Studies Support, for an activity director/curriculum specialist, and a project assistant; and accepted the resignation of Caroline Smith as the subsidized child care specialist, effective Nov. 6.