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Parkland College Shows "Clean" Fiscal Health in Audit

Published on Thursday, October 18, 2018

Parkland College Shows "Clean" Fiscal Health in Audit

Trustees receive external audit, fall enrollment, tax savings reports

Parkland College's financial fitness has again received top marks in the school's external audit. 

On Wednesday, Parkland College's Board of Trustees officially accepted the Comprehensive Annual Financial Report (CAFR) from Martin Hood, LLC. The report presents the college with an unqualified "clean" opinion of its FY 2018 financial statements, the best type to receive from independent review. The audit highlights the college's exemplary fiscal management and includes reports on Parkland's schedule of expenditures of federal awards and its internal control over financial reporting and compliance.

Also at their regular meeting, the trustees heard reports on fall enrollment and on the tax savings homeowners will receive due to bond refinancing.
 
The board received the fall enrollment update from Dean of Enrollment Management Kristin Smigielski. Smigielski noted the number of high school students taking advantage of Parkland courses continues to increase, with a 21.61 percent increase in early college enrollment through dual credit, Early College and Career Academy (ECCA), and the new Early Transfer Academy (ETA). While fall 2018 headcount decreased by 1.19 percent, the college's enrollment decline overall has slowed and diversity of the student population continues to increase. 

Chief Financial Officer Christopher Randles also reminded trustees that the college has completed its bond refinancing, and the result will be a projected 2.18 percent decrease in the college's taxpayer burden. The college will also set the levy for tax year 2018 in November. 

The Trustees also approved a program-specific reduction-in-force of a full-time faculty member effective in academic year 2019-2020. 

In other business Wednesday, trustees approved the following:

  • the purchase of white paper from Veritiv Operating Co. of Morton, Ill., for $24,480
  • emergency expense for the D-wing elevator for Kone, Inc. of Peoria, $54,138
  • new boiler system for the Child Development Center from Reliable Mechanical Co. of Champaign, $45,340
  • purchase of Kaplan Test Prep's Integrated Testing Program and NCLEX-RN Review Course for its Practical Nursing program, up to $23,850 
  • personnel appointments:
    • Krystal Garrett, Assistant to the President and the Board of Trustees; Garrett will fill the position vacated by Nancy Willamon on Feb. 1, 2019.
    • Beth Burdette, Purchasing Agent, Business Office
    • J. Maurine Sterrett, Financial Aid Assistant, Financial Aid and Veteran Services
    • Melanie Whited, Academic Success Coach-Student Engagement Specialist, Center for Academic Success
    • Somphon Penland, Police Officer, Public Safety

Categories: Board of Trustees, General

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