Hamilton: wants nominations to appoint a treasurer of the BoT.
April 30 2015 to the next meeting May 20, 2016
Moves to nominate Thomas Glaser as Treasurer of the BoT.
They call Glaser to the podium.
Mazzochi — asks question — what will you do differently if appointed to answer questions about certain accounts.
Glaser: There is no imprest account. It’s a terminology to differentiate payments that are either above or below 15,000. There is no cash behind it. It’s just a terminology.
Glaser: The check register htat we publish on the COD website is accurate and reconciled to the invoices.
Mazzochi- Are you stating that you consider it true to be that anything designated as an imprest is accurate and there is no mistake.
Mazzochi– why is the original document not posted on-line, just the check register.
Mazzochi: In the on-line financial documents there is a description that the disbursement comes only from the first invoice.
Glaser: so we have a number of electric metteers around the college. Each one of those meters gets a separate bill. We consolidate those payments for efficiency.
Mazzochi– if you look at current report on-line there is a notice on the website, there is a line item available to the public. It can cover multiple line items but the description to the public is not complete.
Glaser– the way we do it, all the information is available.
Mazzochi- are you willing to have a check register that is accessible to the public.
Glaser- would have to consult with out IT folks to see.
Mazzochi-are you an employee who has used house accounts at Waterleaf and Wheat Café?
Glaser: yes, at Waterleaf.
Mazzocchi- have you had meals at Wheat Café that were charged to house accounts.
Mazzochi– you want the BoT to have a policy to reduce the qualifications of people managing college’s financial accounts.
Glaser — there could be changes in those who actually manage the accounts. We wanted to make it more of a group in charge.
Mazzochi- Who are on the financial committee.
Glaser-Lynn Sapyta is the comptroller. B. Murphy Bridgeview Bank, Jim Leckinger of Northern Trust. Tom ?member of William Blair. Carol Mackoff of Rice Financial.
Mazz: who signs off on Breuder’s expenses?
Internal auditor signs off on Breuder’s expenses. Jim Martner. He is the initial person to make sure it is compliant.
Mazzochi-who has final authority to check off his expenses?
Glaser– Breuder sends them. Then the internal auditor looks into them.
Glaser– I do not check the accuracy of Breuder’s expenses.
Hamilton: any further discussion?
Mazzochi votes no, all others vote yes.
Chair Hamilton: Each year the BoT sets its schedule. She lists the dates of the next meetings for the year.