Virginia Peninsula Community College Local Board
Budget and Finance Committee
April 17, 2024
Members Present: Joseph Fuentes, Mary Bunting, and Dr. Linda Reviea
College Staff Present: Steven Carpenter, Vice President for Finance and Administration; Tim Crittenden, Business Officer Manager; Gina Baird, Local Funds Accountant; and Geraldine Mathey, Administrative Assistant=
I. Call to Order. Mr. Fuentes opened the meeting at 4:14 p.m.
II. Minutes from February 21, 2024, Meeting. The minutes were reviewed. A motion for approval was made by Dr. Reviea, seconded by Ms. Bunting, and approved by the committee.
III. Recommended FY 2025 Local Funds. Mr. Carpenter noted the following in the recommended budget:
a. Local Operating Fund (page 1) Highlights:
- Due to the expiration of our current bookstore contract and negotiations for a new contract, commissions are expected to be significantly lower. Lower commissions result in the need to adjust expenditures. The College will continue with a one-year contract with Follett while we pursue other bookstore options.
- While reductions in the Local Fund Professional Development line exist, state funding for Professional Development has increased so that overall investment is maintained or increased.
- In recent years, the VCCS policy was adjusted to allow for additional funds to be sent to the College’s Educational Foundation. The increase in Foundation Support allows for the maximum funding to be transferred, which provides the greatest flexibility for supporting College needs.
b. Student Activities Fund (page 2): The only change is the renaming of the line-item Athletics to Personnel since these funds only support the Athletics Director’s compensation and no operating costs. All budget amounts remain unchanged.
c. Athletics Fund (page 3): The recommendation is to eliminate this from the Local Funds since the expenses are being paid from the Educational Foundation (with the exception of a portion of the Athletic Director compensation, which is funded from Student Activities). A question was raised regarding the Foundation, and whether the Local College Board has authority over how their funds are spent on behalf of the College. Another question was asked about the line-item Wages/Salaries/Benefits. By moving these funds to the Foundation, does this change make the Athletic Director an employee of the Foundation? A third question was raised regarding whether other VCCS schools are handling Athletics funding similarly.
d. Safety, Security and Parking Fund (page 4): The funds in this account will be used for needed maintenance and upgrades and the budget matches the spending plan for the VCCS’ 2-year Auxiliary Parking Plan to be submitted for approval at the Board meeting.
e. Construction Fund (page 5): Spending from this fund will increase as facilities projects increase over the coming year.
This information was presented for discussion and budget approval will be requested at the May meeting.
IV. 2025-2026 Auxiliary Reserve Parking Plan. A copy of the 2023-2024 plan was distributed to the committee for comparison purposes. Many of the projects in the previous plan were superseded by projects that took priority and are included in the 2025-2026 plan. It was shared that a consultant identified by the System Office Facilities team has been engaged and the College will follow their recommendations on prioritizing projects to the extent financially feasible. In addition, the Facilities Committee would review the projects and plan in their committee meeting, scheduled for today. The plan requires approval by the Local Board. A motion for Committee approval was made by Dr. Reviea, seconded by Ms. Bunting, and approved by the committee.
V. Standard Operating Procedure. There was only one change in the version distributed to the committee: references A and B were swapped. This draft will be presented to the full Local Board for informational purposes with final approval requested during the May meeting. It will be requested that any questions or corrections be brought to the Committee Chair’s attention no later than May 1st. A motion to accept the draft Standard Operating Procedure was made by Dr. Reviea, seconded by Ms. Bunting, and approved by the committee.
There being no additional business, the meeting adjourned at 5:02 p.m.