IVCCD receives “very clean” audit report
Tuesday / April 21, 2015
It was all about finances when the Iowa Valley Community College District (IVCCD) Board of Directors met in Marshalltown this week. The Board received and reviewed an audit report on the District’s FY2013-2014 finances, and also approved filing an estimated budget for 2015-16 with the Marshall County Auditor’s Office; a public hearing on the FY16 budget will be held next month.
Don Schnurr of the auditing firm Schnurr & Company, Fort Dodge, presented the annual Iowa Valley audit report to the Board; this is his company’s fourth year as IVCCD auditor. He said the firm concurred with management on all reports and calculations and was able to give a qualified, clean opinion on the audit. “And that’s what you want … a very clean audit,” Schnurr said.
Schnurr made a few accounting comparisons to the previous year, noting that the District’s cash and receivables were virtually unchanged, property tax revenue was down, and capital assets were down because annual depreciation exceeded expenditures. “The bottom line is that you have revenue over expenditures,” Schnurr said. He thanked and congratulated Chief Financial Officer Kathy Pink and the Business Office staff for their efforts.
Also related to District finances, the Board approved filing an FY16 estimated budget and set the date for a public hearing on that budget for March 11 at 4 pm during next month’s Board meeting. The estimated budget sets the level of allowed expenditures for fiscal year 2015-2016 at $45.9 million and also sets the tax levy rate, which will be $1.78170 per $1,000 assessed valuation. It was noted that this proposed property tax assessment rate is lower than the current rate.
In other matters, the Board approved three applications for voluntary early retirement from Ellsworth Community College Psychology Professor Michael (Mac) McDonald, IVCE Family Literacy Instructor/Coordinator Gloria DeBower, and IVCE Business Solutions Consultant Jean Brownlie. The Board went into closed session to discuss collective bargaining strategy, but took no action upon returning to open session.
The Board also accepted several donations: Dean & Karen Elder donated lumber to the IVCE Creative Retirement “Little Free Libraries” construction project; Nancy Adams donated miscellaneous items to the Orpheum Theater Center; Allan Parks donated two glass table tops to the MCC Advanced Manufacturing program and Vern Ash donated labor to fabricate glass into table tops for that program; Iowa Falls Church Women United donated $1,500 for the Iowa Falls High School Equivalency Diploma (HSED) and English as a Second Language (ESL) programs; Black Hills Energy donated valves, meter bars and fittings to the MCC Gas Line Technician program; and Alliant Energy donated 70 gas meters to that same program.
MCC Student Engagement & Residence Life Director Chris Brees and Coordinator Dan Juhl gave a presentation on MCC’s co-curricular programming for students who live both on-campus and off-campus. They reported that more than 130 educational, community, residential and entertainment events were offered to MCC student during the fall semester, and many more are planned for spring term.
The Board also recognized MCC faculty member Kristen Murphy for achieving a Master’s in Instructional Technology at the University of Northern Iowa, and MCC Library Services Manager Mara Egherman for being awarded an Association of College & Research Libraries 2015 Early-Career Librarian Scholarship.
The next regular meeting of the IVCCD Board of Directors will be Wednesday, March 11, at 4 pm in Marshalltown.