5 things you missed at the Feb. 24 board of trustees meeting

By Paulette Parker, News Editor
and Taylor Robinson, Staff Writer

 

  1. College hires advanced transportation director

Alan Lecz, previously director of employer strategies at the Workforce Intelligence Network for Southeast Michigan, was hired as the director for WCC’s prospective Advanced Transportation Center. He will be paid $104,000 annually.

  1. WCC receives $3 million skilled trades grant

As a part of Gov. Snyder’s $50 million skilled trades grant program, WCC will receive $3 million to purchase equipment for educational programs that emphasize high-wage, high-skill, and high-demand occupations.

  1. Board approves VPI search firm contract

The board of trustees approved a $53,000 contract with RPA Inc. to aid in the search for a new vice president of instruction. It is expected that a permanent VPI be in place for the start of the fall 2015 semester.

  1. Amendments to affirmative action policy approved

Amendments to the policy include an emphasis on nondiscrimination against any person “because of sexual orientation, gender identity, or gender expression.” The changes add that women and minorities employed by the college align with the employed population of Washtenaw County. 

  1. Board approves amendments to investment policy

Previously, community colleges were permitted by law to invest only in bonds, bills or notes of only the U.S. Treasury or the State of Michigan http://www.michigan.gov/treasury. Recent changes to the law allow the policy to change to permit investments in local governments, municipalities, school districts and other qualified, local investments to attain higher rates of return.


The Mar. 9, page A1 story “5 things you missed at the Feb. 24 board of trustees meeting,” should have stated that WCC received a $4.4 million skilled trades grant.

WCC trustees to vote on changes to investment policy

by PAULETTE PARKER
News Editor

The WCC board of trustees had their first reading of an amendment to board policy 6020, pertaining to permissible investments for the college’s funds at the January board meeting.

In January, the Michigan Community College Act was revised to reflect changes related to permissible investments as a result of legislation proposed, drafted and supported by Washtenaw’s Chief Financial Officer Bill Johnson and Director of Government Relations Jason Morgan.

Previously, the act allowed investments in bonds, bills or notes only of the U.S. Treasury or the State of Michigan; the modifications allow for community colleges to invest their money in local governments, municipalities, school districts and other qualified, local investments to attain higher rates of return. Local investments can yield a differential of 1-1.5 percent higher, Johnson said.

In addition to changes in the types of investments allowed, further investment policy structure was added to reflect the overall intent of WCC investment goals and related guidelines to insure that WCC administration achieves these overarching goals.

Investments must meet certain allocation guidelines. The target percentage of our investments locally is 35 percent of our funds. All investment-grade bonds must have a credit rating of BBB- or better, with a maturity of 10 years or less. Short-term investments require an A- or better rating, with an initial maturity of 3-12 months.

“In the end it’s about making it fit right for us,” Johnson said.

 

RELATED LINKS: Board of Trustees