April 23rd, 2019 Board Minutes

April 25, 2019

Date:               Tuesday, April 23rd, 2019

Time:              12:00 PM       

Location:         THINC Board Room
                        One College Circle, LaGrange, GA 30240

Present:          Dr. Chris Williams, Frank McRae, Bill Stump, John Radcliffe, John Asbell, Dr. Roy Nichols, Regina Ingram, Kevionte Gaskin, Joseph Miller, Mitchell Key, Helen Rice, Brandon Brooks, Kash Lakhlani, Charis Acree, Michelle Brown, Kevin Donovan, Gerald Wyatt, Becca Eiland, Dr. Kathy Carlisle     

Other:             Regan Mock, Jayne Pauley, Brandon Smith, James Bence            

The meeting began at 12:15 PM.

  • Audit Review was provided by James Bence with Mauldin & Jenkins.
    • $741,000.00 placed in investments.
    • $17,000.00 in liabilities.
    • $1.9 million in residuals.
    • There is no material weakness in the control structure.
    • Management was compliant with every request made throughout the audit.
  • New accounting standards discussed by Brandon Smith with Mauldin & Jenkins.
    • Current categories Unrestricted, Temporarily Restricted and Permanently Restricted will be condensed into the categories Without Donor Restriction and With Donor Restriction.
    • Expense categories are listed by general functions and will now be provided in a statement of functional expense, which will be more descriptive.
    • A new foot note will be added to Liquidity and Availability to show what financial resources you have available for disposal over the next 12 months.
  • Dr. Kathy Carlisle announced that we have signed another 3 year contract with Mauldin & Jenkins as our auditor.

  • THINC Back 30 presented.
  • Healthcare Instructor, Jayne Pauley, discussed THINC’s Healthcare Industry Certification.
    • The Certification Team reviewed several things, along with occupational standards, student assessments, HOSA, Healthcare curriculum. There were no recommendations made.
    • Receiving this certification provided THINC’s Healthcare with a $10,000.00 grant for equipment and supplies.

  • Bill Stump called a motion to approve February minutes.
    • John Asbell 1st, John Radcliffe 2nd
  • Dr. Roy Nichols with the Troup County School System stated the budget needs a more sustainable trajectory. THINC is high on the list of enhancements.
  • Regina Ingram provided a Personnel Committee update.
    • Malone Staffing posted the opening position for THINC CEO on March 28th and will close on May 3rd.
    • As of April 21st there have been 220 applications, with 11 being realistic candidates.
    • Malone will filter the top 10 and provide them to the Personnel Committee. Once the Personnel Committee reviews the applicants, 3-5 candidates will be given to the Interview Panel.
    • Interview date is TBD.
  • Gerald Wyatt provided March 31st financial report and interest report of matured CD accounts.
    • Plans for disbursement of Randy Jackson funds is still TBD.
    • Bill Stump called a motion to approve financials.
      • John Asbell 1st, Frank McRae 2nd
    • Bill Stump called a motion to approve policy change from limitations of 12 month term CD to now allow terms up to 24 months to be allowed.
      • John Radcliffe 1st, John Asbell 2nd
    • THINC CEO along with a member of finance will make final decision on selection of CD terms and the institution that they are placed.
    • Christopher Mabe Memorial Scholarship of $1,300.00 will be held at THINC starting FY2020 to facilitate to a student who is a senior, exemplifies leadership and is involved in athletics or extracurricular activities. Currently LaGrange High School holds the funds and they will be presented to a LaGrange High School student at THINC’s Honor Night by John Asbell.
  • Dr. Kathy Carlisle announced that THINC received the first installment of $20,000.00 from Mando’s $100,000.00 grant that is to be paid over 5 years.
  • Dr. Kathy Carlisle stated that Dr. Chris Williams will provide the Scorecard review at the next meeting, due to his required attendance at Central Office for a principal’s meeting this afternoon.
  • Honor’s Night invitation was presented to all attendees at the Board Meeting.

Meeting was adjourned at 1:08 PM.

Next meeting date: Tuesday, May 28th at 12:00 PM in THINC Board Room, Once College Circle, LaGrange, GA 30240.