Updated Surplus Numbers

Updated Surplus Numbers
Updated Surplus Numbers: Actual surplus 2018 per audit was $85,163.
Boards 2011-2018 implemented policies and procedures with specific goals:
stabilize owner fees, achieve maintenance objectives and achieve annual budget surpluses.
Any surplus was retained by the association.
The board elected in fall 2018 decided to increase owner fees, even in view of a large potential surplus

Average fees prior to 2019

Average fees prior to 2019
Average fees per owner prior to 2019:
RED indicates the consequences had boards continued the fee policies prior to 2010,
BLUE indicates actual fees. These moderated when better policies and financial controls were put in place by boards

Better budgeting could have resulted in lower fees

Better budgeting could have resulted in lower fees
Better budgeting could have resulted in lower fees:
RED line = actual fees enacted by boards,
BLUE line = alternate, fees, ultimately lower with same association income lower had
boards used better financial controls and focused on long term fee stability

Wednesday, January 28, 2015

College of DuPage Special Meeting - R. Beuder's Severance Package



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There is a Special Meeting at the college tonight, January 28, 2015. This has been scheduled by the Board of Trustees of Community College District 502. The purpose is to consider President Robert Breuder's severance package.  I've included a portion of the contents of the Board Member packet with some details of that package later in this post, as well as a link to the January 28 packet for this meeting.

The meeting is scheduled to be held January 28, 7:00PM  in the STUDENT SERVICES CENTER - ROOM SSC-2200, although it may be moved to the MAC.

I encourage anyone who can to attend this meeting. 

Here is some additional information I received. "On January 22 the Board of Trustees of Community College District 502 adopted a severance package for college President Robert Breuder, without giving proper notice or public discussion in compliance with the Illinois Open Meetings Act........Among the reasons the Board of Trustees and Dr. Breuder have offered in the past for conducting so much of the College’s business in secret is the lack of interest and input from the community. It is important that the Board of Trustees sees how seriously we, the community, take their fiduciary obligation to protect the public interest in conducting the business of the College. The one way we can truly convey that is by merely attending the Board of Trustees meeting in order to hold the Board of Trustees accountable.......The very process of observation will remind the Board of the sacred trust that has been given to them by the community and will reinforce their obligations to us, the citizens of District 502."

The Item in the packet pertaining to the Fourth Addendum of Breuder's Employment Contract
"The Fourth Addendum to College President Robert L. Breuder’s Employment Contract a copy of which is attached (“Addendum”) will set an early retirement date for Dr. Breuder of March 31, 2016 rather than June 30, 2019, the end of his current employment contract. In exchange for Dr. Breuder agreeing to end his employment contract earlier than the current June 30, 2019 completion date, the College will
(1) upon Dr. Breuder’s retirement, pay him a lump sum payment of $762,867.77;
(2) upon Dr. Breuder’s retirement, he will receive the retirement benefits provided to all administrators as set forth in the College of DuPage Senior Management Team;
(3) the Board will install a sign on the Homeland Security Education Center consistent with the Board’s action on May 7, 2013, naming the building in Dr. Robert Breuder’s honor;
(4) the Board will grant Dr. Breuder an exception and name Dr. Breuder with “Emeritus” status upon his retirement;
(5) Dr. Breuder will receive no compensation, insurance, or other benefits from the College after March 31, 2016 outside of this Fourth Addendum and the Benefits Summary;
(6) Dr. Breuder agrees to assist the College in recruiting qualified permanent replacement candidates for the positions of Interim College President and College President for the College. Such assistance shall include, but will not be limited to, identification of qualified candidates, assisting the College in assessing the qualifications of candidates and, pursuant to the direction of the Board, communicating with candidates;
(7) the Addendum contains a restriction on Dr. Breuder’s hiring any College staff; and
(8) The Addendum provides that the indemnification provisions contained in Dr. Breuder’s Employment Contract shall continue to apply through the Retirement Date and shall survive the termination of the Employment Contract, including the termination of the Fourth Addendum.

Additional details are contained in the attached Addendum."

Links about this Meeting:

Clicking will open a  New Window> http://www.cod.edu/about/board_of_trustees/pdf/packets/2015jan28packet_spcl.pdf/

Clicking will open a  New Window> http://www.cod.edu/about/board_of_trustees/


Most recent road addition at COD:
Do you remember the zoning meeting about this road addition? If you don't it's because there was no announcement of any meeting.

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