Successful Audit Presented at SIC Board Meeting
December 12, 2018
The Southeastern Illinois College Board of Trustees met Tuesday night, Dec. 4, to hear a successful annual audit, approve the annual tax levy, and approve the use of bond money for upgrades to the Learning Commons Area in A Building.
The annual audit was presented by Kemper CPA out of Harrisburg, which was praised for being unmodified and clean.
Additionally, the College ended fiscal year 2018 in the positive and the latest Composite Fiscal Index (CFI) ended at 5.23, the highest CFI score in decades and well above the accepted rate required by regulators.
“We have come a long way from a CFI of less than one about a dozen years ago to where we are today,” said Board member Jim Ellis.
Auditors also said that the process for WA grades (excessive absence) could be modified and attention to the need for financial aid support personnel was needed.
“This was a highly successful audit, and I want to thank all our staff who made this happen,” said President Dr. Jonah Rice.
The board also passed a tax levy that will actually have a lower rate than the prior year, coming in at 0.850 as opposed to 0.863 last year. While the actual levy will be modestly adjusted upward, given a retired bond and a few other adjustments, the Board passed this unanimously.
The board discussed tuition for next year, and anticipates freezing tuition for a second year in a row, but a few fees may be adjusted. The board will vote in January.
“SIC must remain an affordable option for our working families and students who don’t want to bury themselves in debt,” said Board Chairman Dr. Pat York. “SIC remains one of the best bargains in the State and this board is committed to maintain that.
In other business, the board approved use of a 2010 bond fund to use for renovation in the Learning Commons area to combine with a state grant. The board also passed a new organizational chart for the Learning Commons area.
The board passed modifications to the next three years of academic calendars and reviewed an institutional research policy for passage in January.
In personnel, Rhonda Smith resigned as the Learning Resource Center Para Professional, Ben Ross was approved as Distance Learning Specialist, and a number of adjunct faculty were approved.