Creston— The Southwestern Community College (SWCC) board of directors met Tuesday, April 15, 2014, at 5:30 p.m. in the Administration Center on the Creston campus.
Tom Lesan, SWCC vice president of economic development, spoke with the board concerning callable bonds the college has with Fansteel/Wellman Dynamics and Farley’s and Sathers for 2006, as well as Astoria Industries of Iowa, Pinnacle Ethanol, Precision, Inc. and Precision Optical for 2007. Lesan explained that by paying the bonds off early there will be a total savings of $63,605. Following Lesan’s explanation, the board approved the “Resolution Authorizing Redemption of Outstanding Bonds and Directing Notice be Given” for all of the callable bonds:
• $725,000 Industrial New Jobs Training Certificates (2006-1 Multiple Project), Series 2006-1A
• $1,120,000 Industrial New Jobs Training Certificates(2006-1 Multiple Project), Series 2006-1B
• $425,000 Industrial New Jobs Training Certificates (2007-1 Multiple Project), Series 2007-1A
• $830,000 Industrial New Jobs Training Certificates (2007-1 Multiple Project), Series 2007-1B
Teresa Krejci, chief financial officer, spoke with the board regarding a quote received from Draper, Snodgrass, Mikkelsen & Co., P.C. for audit services for the college for the upcoming three years. Krejci noted in spring 2011, SWCC had advertised for a proposal for audit services. Draper, Snodgrass, Mikkelsen & Co., P.C. was selected to perform the college’s audit for 2011, 2012, and 2013, with the option for subsequent contract extensions. According to Krejci, the fees for the upcoming three years would be $36,600 for 2014, $37,600 for 2015, and $38,800 for 2016. Following discussion, the board approved the extension of auditor’s contract with Draper, Snodgrass, Mikkelsen & Co., P.C. as presented.
In personnel, the board approved the early retirement request of Peggy Worthington, adult and continuing education secretary. Worthington, of Mount Ayr, has been employed at the college for approximately 10 years. Her last day at SWCC will be June 27.
During the President’s Report, Lesan reported that construction of Spartan Court, the new three-story, apartment-style residence hall on campus, is going well and the contractors are currently about three weeks ahead of schedule.
Krejci then explained to the board that a special meeting to approve the Official Statement for the 2014 revenue bonds and calling of the 2006 revenue bonds, as well as the 2006 and 2010 loans from the Southern Iowa Council of Governments, will need to be scheduled for April 28 or 29.
Dr. Barb Crittenden, SWCC president, told the board the spring commencement ceremony will be held on Fri., May 9, at 7:30 p.m. in the Student Center gymnasium.
Crittenden shared with the board that she and Megan Doubleday, SWCC sophomore and recipient of Iowa’s New Century Scholar award, attended the American Association of Community College annual convention in Washington, D.C. on April 8, where Doubleday was honored with 50 other scholars from across the country.
Crittenden also presented to the board outlining highlights of the Iowa Association for Community College Trustees (IACCT) statewide conference, which was hosted in Des Moines by SWCC and Northwest Iowa Community College.