April 16th, 2018 Finance Minutes

April 16, 2018

Date: April 16, 2018

Time: 12:00 p.m.

Location: THINC. Conference Room

One College Circle, LaGrange, Georgia 30240

Present: Robby Burch, Renae Willis, Corinne Hodges, Frank McRae, John Asbell, Bill Stump

Absent: John Radcliffe, Kathy Tilley, Byron Jones

Others: Kathy Carlisle, Chris Williams, Molly Sumner-THINC

Frank McRae called the meeting to order at 12:30 pm.

Hodges made a motion to approve the January and February minutes

  • Burch 2 nd , none opposed

McRae went over the P&L

  • Stump asked if the Special Education Fund should be move to another line on the report.
    • Carlisle stated that those funds would move into sustainability next year
  • Carlisle mentioned the interest payments received from Charter Bank that will begin to
    appear on the balance.

Burch made a motion to approve the Financials
o Hodges 2 nd , none opposed

Carlisle reviewed the audit report.

  • Asbell asked if there would be any additional cost this year
  • Carlisle said there would not be.

Williams presented the request to purchase a F-250 for THINC

  • Hodges asked if students would be able to be transported in the vehicle.
    • Williams was waiting on Radcliffe to approved
  • Burch asked about the advantages of purchase vs. lease
  • Hodges asked how fuel would be purchased and funded.
    • Williams stated those factors were still being worked out with Radcliffe
    • Hodges commented that you may not be able to wrap the truck if leased.
  • Willis inquired about leasing a Suburban vs. a truck
    • Williams stated a Suburban would not be able to tow the trailer as an F-250 can.
  • Asbell asked if any business supporters had been contacted to fund the truck request.
    • Williams said dealers were asked but not interested.
  • Hodges asked about the Ram truck option at the lower purchase price.
    • Williams chose the F-250 since it would maintain a higher resale value.
  • Williams will compile buy vs. lease pros & cons to present to the committee.
  • Asbell asked the committee of any supports they could approach for support to purchase the
    truck.

    • Hodges to contact CW Matthews
    • Asbell to contact Batson Cook
  • Hodges to bring approval to THINC Board for an up to price
    • Williams to get a quote on getting the truck wrapped.
  • Hodges made a motion to put on Board agenda
    • Burch approved, none opposed.

Williams presented moving expenses to be paid for new hire Engineering Instructor

  • Not to exceed $5,000
  • Carlisle said cost could move from NCAC funds.
    • Hodges did not want to move funds from procedural and expenses accounts.
  • Asbell wanted Carlisle to ask State if Charter has that flexibility
    • Carlisle stated that it would be taxable income.
    • Hodges suggested the BOE be told THINC wants to pay the expense.

Williams reviewed the THINC salary rubric.

  • Hodges asked if new hires would be put behind existing employees pay
    • Williams said 1 would but they were not a 240 employee
      • Asbell asked the impact of being 240 and not 190
        • Williams said it was critical for the instructor in order to keep up with industry standards and expectations.

Carlisle gave update on fundraising

Carlisle presented an update on PLC

  • Hodges stated a separate MOU be created for it.
  • Carlisle stated that the BOE had talks of moving all CTAE programs to THINC but removing Academics.
    • Williams said that HVAC program would move to THINC.
      • Hodges asked if that job was in demand in this community to justify pathway
        at THINC.
    • Hodges to discuss MOU for PLC at upcoming meeting.

The meeting ended at 1:15 pm.

Next meeting date: May 21, 2018 at 12pm in the THINC. Board Room, One College Circle, LaGrange,
GA 30240.
______________________________________________ Approval