Madison College Faculty and Staff,
The following business was conducted during the Feb. 1, 2017, meeting of the Madison College District Board. Visit this link to access the complete meeting agenda and supporting documents.
Workforce Development Trends and Serving South Madison
Madison, and specifically South Madison, reflect national trends in educational attainment. In order to serve students effectively, the college will continue to develop services and supports that assist students in reaching their educational and career goals. In addition, strategies for engaging employers will continue to evolve to meet employer needs by providing learning opportunities for students that allow them to attain employment with living wages.
Madison College Budget Goals
The District Board unanimously approved the following budget goals for the college:
- Develop a balanced budget without the use of General Fund balance or any short-term borrowing for operating cash flow purposes;
- Budget for 8,800 full-time equivalent students in FY2017-18;
- Reduce personnel spending below 80 percent of total General Fund spending in FY2017-18. Explore maintaining or continuing to decrease that percentage to 75 percent over the subsequent 2-5 years; and whenever possible, by employing strategies that minimize the impact on current employees (e.g. attrition, not filling positions);
- Establish and maintain an annual contingency of 3 percent of budgeted revenue;
- There will be periodic updates to the Board and the College and an annual assessment regarding progress toward goals.
Board Appointment Process
The remaining timeline for appointing new Board members was shared:
- The deadline for applications will be Feb. 3, 2017
- Applicant information will be mailed to county board chairs on Feb. 10, 2017
- The list of applicant names will be published Feb. 17, 2017
- The Appointment Meeting will be March 6, 2017
- New Board members will be sworn in at the July 2017 Board meeting
Wisconsin Manufacturers and Commerce (WMC) Board Support of Technical Colleges
The WMC Board recently supported new investments in the Wisconsin Technical College System (WTCS). They unanimously passed the following motion:
To expand Wisconsin’s skilled talent pipeline and sustain pathways for career exploration and acceleration, Wisconsin Manufacturers and Commerce supports new state investments in the Wisconsin Technical College System and in Wisconsin Technical College students that are targeted to talent outcomes, dual enrollment and direct financial assistance to students.
This endorsement will go far in advocating for new state investments for WTCS colleges.
Capital Projects Borrowing
The Board adopted a resolution awarding the sale of $4,235,00 in general obligation promissory notes to Piper Jaffray and Company. These funds will finance the acquisition of moveable equipment and technology ($2.735 million) and building remodeling and improvement projects ($1.5 million).
Madison College Investment Policy
Information was shared regarding the Madison College investment activities, including; investment objectives, the college’s cash flow profile, investment options for the college, the annual performance of the college’s investments, and future plans.
Consent Agenda – All Items Approved
- General fund financial report as of December 31, 2016
- Quarterly Investment Report as of December 31, 2016
- Request for proposals/request for bids/sole sources
- Supplier payments greater than or equal to $2,500, and schedule of checks issued for the period December 16, 2016, through January 15, 2017.
- Employment of personnel
- Resignations and Separations
Jack E. Daniels, Ph.D.