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Printed by: Leslie Saturday, January 12,2002 9:01:50 AM
Title: Board Approval: Classroom of the Future Page 1 of 2
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Friday, January 11, 2002 5:51:47 PM
Message
From: 5 bdanley@mcgregor.edu
Subject: Board Approval: Classroom of the Future
To: p Glenn Watts
Cc: .5. vwilliamson@mcgregor.edu
,5, bedfob@yahoo.com
5 Leslie Johnson
§ James Hall
Glenn, I know how busy you are but I am concerned that we have not been
given direction on how to get information readied for the board book on
the Classroom Project. We got all we were requested to do in, and are
waiting on guidance.
As you recall, I need a resolution for the Facilities Committee that
allows me to access the Endowment Fund of 100K (and will try to raise it
back with community help) AND to spend over 25 (around 4 times) on this
room immediately so we can get it open. As a reminder:
25K Mead
around 29 restricted, possibly more
90K loan for equipment from the DBC
Leaving around 57K that will come from endowment (and we need some to do
heating/air conditioning/repairs in Sontag Fels after that)
the amount on the Classroom Project from endowment – to be raised back to
go above the line.
Total around 201K
I feel I am missing a deadline although I am ready and the
donors/vendors/community is ready to start ordering equipment immediately.
It will take up to 2 months to come in and set up and we want to get this
open in March. What should I do? I can’t do this without you telling me
the proposal should look like. Thank you.
Barbara
Dr. Barbara Gellman-Danley
President
Antioch University McGregor
800 Livermore Street
Yellow Springs, Ohio 45387-1609
937-769-1850 Fax: 937-769-1855
Printed by: Leslie
Title: Re: Board Approval: Classroom of the Future
Sunday, January 13, 2002 8:53:31 AM
Page 1 of 2
From:
Subject:
To:
Cc:
Saturday, January 12, 2002 6:48:50 PM
Message
§ Glenn Watts
Re: Board Approval: Classroom of the Future
H. bdanley@mcgregor.edu
,5j. vwilliamson@mcgregor.edu
.5. bedfob@yahoo.com
§ Leslie Johnson
p James Hall
bdanlev@mcqreQor.edu writes:
I need a resolution for the Facilities Committee that
allows me to access the Endowment Fund of 100K(and wijl try to raise it
back: Witrfcommunity l^ 25 (ground ^times) xinjhfe
room Irrirnejdjate^ carrget it open. iAii^a reminder:
25KMead
around 2£ restricted; possibly more
90r£lban for equipment from thepBC
LeaVihcrarOuri^
he^tirig/air/cphditionihcj/re
the’almojurit oh the^^a^sfobm Project from endowment – MheM^§^^^9.
go above the line.
Totaf around 201K
Barbara,
If I understand what you want to do in order to finance the Classroom of the
Future project, you need to do three things:
First, you want to be able to use part of the $100,000 that was allocated to
McGregor this year as part of the annual budget process. If you will use this
money for capital purchases, no additional Board approval is needed to use the
money, PROVIDED that the purchases for the project are below $25,000 in
total.
Second, it sound like you are going to get a loan from the Dayton Business
Community for about $90,000 to purchase equipment. When we talked about
this element a couple of months ago, I thought that the DBC was going to buy
and own the equipment, but they would let you use it. As I remember, they
wanted to be able to depreciate the equipment, and after 3 years when the
equipment is fully depreciated, they would gift it to McGregor.
col- r^
Printed by: Leslie
Title: Re: Board Approval: Classroom of the Future
Sunday, January 13, 2002 8:53:45 AM
Page 1 of 1
nr-if
From:
Subject:
Saturday, January 12, 2002 8:21:22 PM
Message
p bdanley@mcgregor.edu
Re: Board Approval: Classroom of the Future
To:
Cc:
7 Glenn Watts
.& vwilliamson@mcgregor.edu
.5. bedfob@yahoo.com
0 Leslie Johnson
.5. jhall@antioch.edu
qlenn@universitv.antioch.edu writes:
> exceed $25,000 (“around 57K”).
No, the 57K is what I need for the Classroom from the Endowment. There are
smaller repairs needed elsewhere; Vikki can identify. They may not exceed
25K and if no approval is needed to access the 100K we are covered.
I need to clarify how the DBC will handle the loan; it is possible they
will:
-actually write us a check for the amount
-have us send them the bill
So we need to clarify all this and since my mid-year report is due
immediately, I may have to send a separate email.
Barbara
Dr. Barbara Gellman-Danley
President
Antioch University McGregor
800 Livermore Street
Yellow Springs, Ohio 45387-1609
937-769-1850 Fax: 937-769-1855
bdanlev@mcqreqor.edu
WEB: www.mcqreqor.edu
Cell (new) 937.367.4005
Printed by: Leslie Sunday, January 13, 2002 8:54:44 AM
Title: Re(2): Board Approval: Classroom of the Future Page 1 of 2
JiBg«:a Saturday, January 12, 2002 11:11:02 PM
*-^ ” ” Message
From: g Glenn Watts
Subject: Re(2): Board Approval: Classroom of the Future
To: .5, bdanley@mcgregor.edu
Cc: .H. vwilliamson@mcgregor.edu
.H. bedfob@yahoo.com
§ Leslie Johnson
.5. jhall@antioch.edu
bdanlev@mcqreqor.edu writes :
l.need to clarify how the DBG will handle the loan; it is possible they
will:
-actually write us a check for the amount
^have us send them the bill
iSpw^ need to clarify all this and slhce my mid-year report
immediately, Imay havei-to send a separate email;
Barbara,
While it is important that we nail down with the DBC what the mechanism will be,
I think the important thing for the Finance Committee to decide is whether they
are comfortable with a loan obligation of some kind. Since the amount is small,
we will not have to worry about the impact on our debt ratios or the borrowing
limits imposed by our bonds. The terms of the “loan” will be important, however,
regardless if the “loan” is in cash or equipment so that the degree of risk can be
determined. Will there be interest? What is the term of the loan? Will
repayment be in one lump sum or in installments? Etc.
If you know the terms, you can describe the “loan” in the narrative while
acknowledging that some of the details remain to be worked out. However, if
the terms have yet to be worked out, you can say in the narrative that you are
anticipating a loan from the DBC, and then tell the Committee about the details
between now and the meeting. This could be done during a teleconference I am
trying to arrange with the Committee, via E-Mail or at the meeting. I think sooner
is better for both the Committee and your working relationship with the DBC.
The Resolution that the Board is asked to approve could authorize me to sign an
agreement with the DBC on behalf of McGregor that satisfies certain key criteria
without having to have the document completed before the meeting. However,
the more we can complete before the meeting, the better.
0O~7- o
Printed by: Leslie
Title: Re(2): Board Approval: Classroom of the Future
Sunday, January 13, 2002 8:54:57 AM
Page 1 of 1
W~-
From:
Subject:
To:
Cc:
Saturday, January 12, 2002 11:11:11 PM
Message
§ Glenn Watts
Re(2): Board Approval: Classroom of the Future
.5. bdanley@mcgregor.edu
,8. vwilliamson@mcgregor.edu
.a. bedfob@yahoo.com
a Leslie Johnson
.a. jhall@antioch.edu
bdanlev@mcqreqor.edu writes:
The. fbprh decorations .^y;be’|6^ihaiii’^5K but probably hot the furniture
will exceed, the equipment definitely exceeds so how shall I proceed?
Barbara,
Since you’ve got to get approval for at least one item that’s over the $25,000
limit, and because all of these expenses are for one project, simply list the
several costs and ask the Board to approve them all. This approach fully
informs the Board about the nature of the Classroom of the Future project and
insures that you have full approval. Then, if the decorations come in at $27,000,
you’re covered.
My spending approval authority doesn’t allow me to split a project into multiple
purchases to avoid the $25,000 ceiling. Mark wanted me to approve his website
by splitting it into a design piece, a development piece and an implementation
piece. He had to take it to the Board.
Glenn
