Glen Oaks reports $150,000 higher net surplus over this time last year due to rising enrollment, said Marilyn Wieschowski, CPA, Chief Operations Officer. Total revenues year-to-date were $4.1 million, which represents 38 percent of the annual budget. The revenue rate as a percentage of budget was approximately four percent higher than last year’s revenue rate at this time. Expenses year-to-date were $4 million, which represented 37 percent of the annual budget. The college’s spending rate was about two percent higher than last year’s rate at this time. Tuition Revenue was $1.8 million through November and exceeded last year’s figure at the same time by approximately $442,000. The remaining deferred Tuition Revenue for the semester was $607,000. Fee Revenues were $456,000 through November, reflective of the enrollment increases for fall and the upcoming winter semesters. The remaining deferred Fee Revenue through November was $152,000. Payroll expenses were $2.1 million through November 2009. That was $453,000 higher than last year at this time. This is due to raises in July 2009 and fiscal year 2010 faculty wages expensed when earned, not when paid. Total budgeted payroll related expenses represent 75 percent of the total budgeted general fund expenses.
The Board voted unanimously to enter into an infrastructure upgrade contract with the Honeywell Corporation. The action followed a Honeywell presentation at the November meeting explaining the program covering 10 years and managed through the college’s budget and savings that will be made with lighting modifications and financed in part by an internally secured bond that would not be paid by additional taxes. After an energy audit of the college’s mechanical and lighting systems, Greg Mackey of Honeywell said company experience shows significant savings would be realized through lighting changes. He expected enough to make the entire renovation feasible. The Honeywell proposal includes a guarantee of savings. Trustee Jim Moshier, who served on the committee analyzing the Honeywell findings, said, “Our top priorities will be the college’s boilers and a lighting sensor system.”
The Board announced positive results following a President Evaluation process of Dr. Gary Wheeler. The evaluation by the Michigan Leadership Institute (MLI) comes two years into Dr. Wheeler’s leadership. Board Chairperson Paul Schubert provided a statement of the findings: “The Board of Trustees has worked with a consultant to complete a comprehensive evaluation of the President and is pleased to report an overall positive opinion of his leadership and direction of the College. In these difficult times there are issues that have been identified and the Board commits itself to address these with the President.”
The Board received an update from Cora Davis, Phi Theta Kappa President, on the organization’s activities this academic year. Phi Theta Kappa is the international honor society for community college students. Ms. Davis said the Fall semester included a number of fund raising events and assistance to the local Breast Cancer Awareness program. The Glen Oaks chapter successfully hosted a regional PTK conference attended by over 100 people. The local chapter is now five star rated or the highest possible achievement. PTK will be involved in the Walk for Warmth on the last Saturday in February and another Trike-A-Thon is being planned for the College Concourse. Some members will attend the PTK International Conference at Orlando, Florida in April and the Michigan PTK Regional Awards program in May.