COMMUNITY COLLEGE SYSTEM OF NEW HAMPSHIRE
Board of Trustees
Finance and Audit Committee
November 5, 2009
In Attendance: Chair Ned Densmore, Michael Marr, Paul Holloway,
Mark Edelstein, Lucille Jordan, Richard Heath, Steve Budd, Richard Gustafson, David Paquette, Lynn Kilchenstein, Ron Rioux, Will Arvelo, Harvey Hill,
Katharine Bogle Shields, Katharine Eneguess, Robert Mallat, and Steve Guyer
Also in Attendance: Kelly Chapman, Susan Proulx, Chuck Annal,
Sarah Woods, Bill Beyer, Melanie Kirby, Gloria Bacon, Marie Marcum,
Alice Mowery, Tim Fontaine, Amber Wheeler, and Joanne Berry
The meeting was called to order at 10:25 a.m. at the NHTI MacRury Hall, Concord, NH.
Chair Ned Densmore introduced Katharine Bogle Shields who has recently been appointed to the Board of Trustees.
1._____Approval of Minutes of September 10, 2009
VOTE: On motion by Mr. Hill, seconded by Mr. Paquette, the Committee
voted unanimously to approve the minutes of September 10, 2009 as presented.
2._____Financial Results 9-30-09
Mr. Marr explained the revenue and expenses report as of September 30, 2009. This includes a report for each college, the System Office and CCSNH combined. At this time, on the expenditure side, the projection is on target at 75%.
3._____Credits Sold 10-15-09
Mr. Marr presented the Credit Comparison for the fall term as of October 30, 2009. This compares fall of 2008 to fall of 2009. The documentation was circulated to the Committee members. The 11% increase remains stable.
4._____Fall 2009 Max/Actual Enrollments – Day Classes
At the last Finance Committee meeting on September 10, 2009, the Committee requested a report showing class size. In response to this request, Dr. Annal distributed and presented a sample of fall 2009 max/actual enrollments capturing classes that could be compared across all colleges. He reported that the colleges are not far off from the national average of 25 per class. There is no system policy in place for class size. Dr. Annal pointed out that typically developmental and remedial classes tend to have smaller numbers.
The Committee reviewed a system-wide snapshot of class sizes and engaged in a spirited discussion about class size at River Valley CC and the Committee’s desire that it be addressed by President Budd (who promised to address it).
ACTION: Chair Densmore requested that Dr. Annal continue to produce this kind of report each semester for review by the Finance Committee.
Question was raised as to whether or not there was a common numbering system to which Dr. Annal responded that there was not. Each college determines the maximum number of students per class.
Action: Presidents will track class sizes. Dr. Annal will be available to provide input and any recommendations if needed.
5._____Audit Matrix
Mr. Marr gave an update on the status of the Audit Matrix. This document will be sent to the Oversight Committee for review of the updates.
6._____Internal Audit – Physical Security
CCSNH Internal Audit team performed an audit of the IT physical security. Included in this audit were the IT areas located in the System office and within the annex. Sarah Woods, Internal Auditor, provided the Finance Committee with the team’s observations and recommendations. Mr. Beyer will continue to update the Finance Committee on the progress made with respect to the Internal Audit team’s recommendations.
Dr. Gustafson suggested that a report of the progress in this area be made available at the end of the fiscal year.
VOTE: On motion by Mr. Mallat, seconded by Mr. Paquette, the Finance
Committee voted unanimously that security in the IT areas is a high
priority, and that funding should be made available to support this initiative.
7._____UNIQUE Grants
The UNIQUE Scholarship report was distributed by Mr. Marr. This scholarship fund is managed by Fidelity and the scholarships are awarded on a need basis. There are two categories of allocation; annual and endowment. The UNIQUE grant continues to be an important and significant source of aid to our students.
8._____Permanently Assigned Vehicles
Currently, there is no policy in place with respect to how vehicles are assigned.
ACTION: It was decided that a policy should be put in place to ensure
proper approval of assigned vehicles.
9,_____Contract Processing
New processes for contracts are presently being reviewed by Attorney Naomi Butterfield.
10._____Banking Services RFP
The RFP is in draft form and has been reviewed by various parties.
11._____Other Business
· Lapse Fund Request from System Office for $25,000.00 to be used to initiate design for a new space for the administrative offices.
VOTE: On motion by Mr. Mallat, seconded by Mr. Paquette, the Committee voted unanimously to approve $25,000.00 to be moved from lapse funds to be used to begin the design process for new space for the CCSNH System administrative office.
· Financial Aid
Susan Proulx circulated and explained the Financial Aid Comparison report for (Fall2008/Fall 2009). This was a report of all seven colleges including totals for the CCSNH system.
ACTION: Ms. Proulx was asked to prepare reports pertaining to default
rates, loan burden and the percentage total of students
receiving financial aid. She will prepare these reports for the
next Finance Committee meeting.
· Dr. Gustafson informed the Committee that the health care benefit costs would be increasing in January. This only affects the employer contribution. This increase is projected to be $580,000, which is over and above the current payroll benefit projection for the entire system.
Adjournment
The meeting adjourned at
No future meeting was scheduled.
Respectfully submitted,
Karen Keeler
Administrative Assistant - MCC
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