IVCCD Board Report – June 8 Meeting
Friday / June 10, 2022
IVCCD Board Approved Tuition, Room and Board Rates for Upcoming Academic Year
MARSHALLTOWN –The IVCCD Board of Directors discussed tuition, fees, and room and board rates at the June 8th meeting. The Board approved a tuition increase of $6 per credit hour increase for in-state residents. Tuition will increase from $184 per credit hour to $190 for resident students, from $201 to $211 per credit hour for MCC non-residents, and from $226 to $232 for Ellsworth non-residents. Housing rates for both Marshalltown Community College and Ellsworth Community College will remain steady and not increase for the 2022-23 academic year. Meal plans, provided through Great Western Dining, will see a moderate increase on both campuses to cover the increased cost of food production and labor.
Board Approved Bond Sale
The Board approved the sale of $15 million worth of bonds to Piper-Sandler at an interest rate of 2.38 percent. Speer Financial assisted the District with the sale. Maggie Burger of Speer Financial reported that the District maintains an Aa3 rating with Moody’s, which is consistent with our prior rating and opens the door for more favorable rates in the future.
Board Approved Contract with Area School Districts
The Board approved the concurrent enrollment contracts between IVCCD and four area high schools: BGM, GMG, Montezuma, and South Tama school districts to provide summer and fall courses for college credit and/or courses for the 2022-23 academic year. The summer courses will be on a Healthcare track and feature three classes: Nutrition, Medical Terminology, and Human Growth and Development.
Board Approved 260E and 260F Training Agreements
The Board approved several job training agreements with area businesses:
- 260F with JBS Swift & Co., Marshalltown, Iowa – $24,842
- 260F with Latimer Associates, Inc., dba ASI Signs, Grinnell, Iowa – $49,939
- 260E with Bruin Manufacturing Company, Marshalltown, Iowa – $120,000
- 260E with River Valley Pipe, LLC, Iowa Falls, Iowa – $120,000
Board Approved Contractor for Thompson Hall Renovation
The Board accepted the bid for the Thompson Hall renovation project at Ellsworth to Henkel Construction Company of Mason City in the amount of $4,696,000. Renovations will focus on the restrooms, heating, cooling, and paint, providing for the most critical renovations for the dorm.
The next regular board meeting is scheduled for July 13, 2022, at 4:00 p.m. and will be held via Zoom.