IVCCD Board saves taxpayers $162,566
Monday / June 8, 2015
The Iowa Valley Community College District (IVCCD) Board of Directors approved refinancing of $4.7 million in general obligation bonds at its May meeting. The action represents a savings of $162,566 to local taxpayers because the refinancing is at a significantly lower interest rate than what was originally available to the District when the bonds were issued in 2007.
At a recent Board retreat, IVCCD Chief Financial Officer Kathy Pink told the Board, “This is not money in the bank for Iowa Valley, this is money that stays in our taxpayers’ pockets because we were able to reduce the interest rates over the remainder of the life of the bonds.”
In other matters, the Board approved a $4,999 Iowa Jobs Training Agreement with Barnhart Electric of Iowa Falls to train nine Barnhart employees in mechanical, plumbing and electrical code updates. This is the District’s fifth training contract with Barnhart Electric.
The Board also approved: the addition of four course-specific fees and an increase to two course-specific fees; the District’s Quality Faculty Plan for 2015-16; an agreement between Ellsworth Community College and the Iowa Falls Police Department related to cooperative public safety efforts; and payment of FY16 membership dues to the Association of Community College Trustees.
Several gifts were accepted by the Board, including: a set of World Book Encyclopedias donated by Rev. Darrell Mitchell to the Education & Training Center; lumber donated by Dean and Karen Elder for the IVCE Little Free Library construction class in October; a monetary donation by Gayle and Lois Strickler to the Orpheum Theater Guild; a gaming headset donated by Martha Schwandt to the MCC Student Engagement program; a monetary donation by Church Women United of Iowa Falls to IVCE’s high school completion and English as a Second Language/ESL programs in Iowa Falls; and monetary donations by Shawn Zimmerman, Amy Trainer, Ann Bresler, Rita Harmsen, Tara Sebring, Jenny Schlabaugh, Cheri Delay, Jessica Hobbs, Abigail Maas, Kandy Neer, Mandy Berkley, Shaya Sorensen, Sue Runge, Susi Norman, Kristi Jones, Dawn Schuett, Jeannie Stolee, Cori Cooper and Betty Broders to the MCC Youth for Understanding/YFU program.
The Board held two closed sessions to discuss collective bargaining strategy and to conduct its annual performance evaluation of IVCCD Chancellor Dr. Chris Duree. No action was taken on either item upon returning to open session.
The next regular meeting of the IVCCD Board of Directors will be June 10 at 4 pm in Grinnell.