MATC Vision
MATC is a premier, comprehensive technical college that provides
excellence in education to enrich, empower and transform lives
in our community
PLEASE NOTE CHANGE IN MEETING DATE
January 31, 2014
NOTICE TO RESIDENTS OF THE MILWAUKEE AREA
TECHNICAL COLLEGE DISTRICT, WISCONSIN
A regular open meeting* of the MILWAUKEE AREA TECHNICAL COLLEGE
DISTRICT BOARD, WISCONSIN, will be held in the BOARD ROOM, ROOM
M210, of MILWAUKEE AREA TECHNICAL COLLEGE, 700 WEST STATE
STREET, MILWAUKEE, WISCONSIN, on TUESDAY, JANUARY 28, 2014
TUESDAY, FEBRUARY 4, 2014 beginning at 5:00 P.M. The agenda** for said
meeting is presented as follows:
A.
Roll Call
B.
Compliance with the Open Meetings Law
C.
Approval of Minutes
C-1
Regular Board Meeting: December 17, 2013
D.
Comments from the Public
E.
Approval of Consent Agenda Items
FPO-2
Bills – December 2013
Bills – By Check Number
Bills – By Payee
Bills - Checks Exceeding $2,500
Bills - Channels 10/36
Voided Checks
Student Activities
FPO-3
Financial Report – December 2013
FPO-4
Human Resources Report
FPO-5
Procurement Report
I.
External Contracts
None.
II.
Procurements
Advertising Expenditures for Milwaukee Public TV
December
January
February
Actual
Estimated
Estimated
$10,847.59
$10,235.73
TBD
Advertising Expenditures for MATC
December
January
February
Actual
Estimated
Estimated
$3585.38
$3585.38
$7985.38
Minority Media Percentage was 6%
Minority Media Percentage is 10-12%
Minority Media Percentage is 10-12%
Minority Media Percentage was 0%
Minority Media Percentage is 10-12%
Minority Media Percentage is 10-12%
MPTV Advertising Services
Eichenbaum & Associates
Milwaukee, WI
$460, 000 ($230,000 per year/2 years)
Recruitment Software
NeoGov
El Segundo, CA
$102,500
E.F.P. Camera System
VSA-Chicago
Buffalo Grove, IL
$145,665
AVID Edit System
CineSys-Oceana
Aurora, IL
$245,953
TeamDynamix Software
TeamDynamix Solutions
Columbus, OH
$53,512
III.
Contracts for Services
None.
IV.
Construction Contracts
V.
Lease Agreements
None.
None.
F.
Chairperson’s Report
G.
President’s Report
2
H.
Student Government Report
I.
Legislative Matters Report
J.
Public Television Committee Report
K.
Education, Services, and Institutional Relations Committee Report
L.
Finance, Personnel, and Operations Committee Report
Action Items
FPO-6
Resolution (F0021-01-14) Authorizing the Sale of $1,500,000
General Obligation Promissory Notes, Series 2013-2014(H) of
Milwaukee Area Technical College District, Wisconsin
FPO-7
Resolution (F0022-01-14) Authorizing the Issuance of $1,500,000
General Obligation Promissory Notes, Series 2013-2014(I) of
Milwaukee Area Technical College District, Wisconsin
FPO-8
Resolution (F0023-01-14) to Approve FY2012-2013 Budget
Modification
Information Items
M.
N.
FPO-9
Budget Variance Report Six Months Year-to-Date Ended December
31, 2013, FY2013-2014
FPO-13
Milwaukee Area Technical College District Other Post-Employment
Benefits (OPEB) Trust Semi-Annual Report
Miscellaneous Items
1.
Communications and Petitions
2.
Information Items
Old Business/New Business
1.
Future Agenda Items
2.
Date of Next Meeting:
Tuesday, February 25, 2014, 5:00 p.m. Regular Board Meeting,
Downtown Milwaukee Campus, Board Room (M210)
O.
Consideration of Collective Bargaining Request From AFSCME, Local
587***
P.
Consideration of Pending Litigation and Direction to Legal Counsel
Regarding Related Terms of Employment****
3
Q.
President’s Quarterly Evaluation *****
R.
Board may Reconvene into Open Session to Take Action on Matters
Discussed in Closed Session under Items O, P or Q.
*
This meeting may be conducted in part by telephone. Telephone speakers will be
available to allow the public to hear those parts of the proceedings that are open to the
public.
**
Action may be taken on any agenda item, whether designated as an action item or not.
Agenda items may be moved into Closed Session for discussion when it becomes
apparent that a Closed Session is appropriate under Section 19.85 of the Wisconsin
Statutes. The board may return into Open Session to take action on any item
discussed in Closed Session.
***
It is anticipated that this item may be discussed in Closed Session pursuant to
Section 19.85 (1)(e) of the Wisconsin Statutes.
****
It is anticipated that this item may be discussed in Closed Session pursuant to
Sections 19.85 (1)(g) of the Wisconsin Statutes.
*****
It is anticipated that this item may be discussed in Closed Session pursuant to
Sections 19.85(1)(c) of the Wisconsin Statutes.
Reasonable accommodations are available through the ADA Office for individuals who need assistance.
Please call 414-297-6610 to schedule services at least 48 hours prior to the meeting.
4
C-1
MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT BOARD
MILWAUKEE, WISCONSIN
December 17, 2013
CALL TO ORDER
The regular monthly meeting of the Milwaukee Area Technical
College District Board was held in Open Session on Tuesday,
December 17, 2013, and called to order by Chairperson Webber at
5:02 p.m. in the Board Room, Room M210, at the Downtown
Milwaukee Campus of Milwaukee Area Technical College.
ITEM A.
ROLL CALL
Present:
David Dull; Melanie Holmes; Graciela Maizonet; José
Pérez; Kurt Wachholz; Ann Wilson and Bobbie Webber
Excused:
Lauren Baker; Mike Katz
José Pérez called in at 5:14 p.m.
Ann Wilson arrived at 5:06 p.m.
ITEM B.
COMPLIANCE WITH THE OPEN MEETINGS LAW
Discussion
Chairperson Webber indicated that proper notice of the meeting had
been given in compliance with the Wisconsin Open Meetings Law.
ITEM C.
APPROVAL OF MINUTES
C-1
Regular Board Meeting: November 26, 2013
Motion
It was moved by Ms. Holmes seconded by Mr. Wachholz, to approve the
minutes of the Regular Board Meeting: November 26, 2013.
Action
Motion approved.
Ann Wilson arrived at 5:06 p.m.
Milwaukee Area Technical College District Board
December 17, 2013
Page 2
ITEM D.
COMMENTS FROM THE PUBLIC
Cindy Konieczki, president, Local 587, and Christine Woda, executive
board member, Local 587, expressed disappointment that request for
contract negotiations have yet to be considered.
ITEM E.
APPROVAL OF CONSENT AGENDA ITEMS
FPO-2
FPO-3
FPO-4
FPO-5
Bills – November 2013
Financial Report – November 2013
Human Resources Report
Procurement Report
Motion
It was moved by Ms. Maizonet, seconded by Ms. Holmes, to approve
the Consent Agenda.
Action
Motion approved.
ITEM F.
CHAIRPERSON’S REPORT
Discussion
Chairperson Webber:
● Congratulated the 2013 winter semester graduates.
● Mentioned the board members’ college Gmail accounts,
suggested that members may want to use such for board
communications.
● Mentioned the upcoming winter WTCS District Boards Association
Meeting and encouraged board members to register.
● Drew attention to the Board Evaluation Instrument.
● Wished everyone a happy holiday season.
ITEM G.
PRESIDENT’S REPORT
Discussion
Dr. Burke:
● Announced that Eric Ibster, CEO of Gen Met and member of
MATC Welding Advisory Committee offered to donate a CNC
machine to the welding program at the Mequon campus.
● Attended the YWCA’s Evening to Promote Racial Justice whose
guest speaker was Harry Belafonte.
● Traveled to Gateway Technical College to meet with Secretary
Perez of the U.S. Department of Labor.
● Participated in the Business Journal’s Annual Education
Roundtable Event.
● Accepted an invitation to serve on the Milwaukee Cultural and
Entertainment Capital Needs Task Force.
● Reported that MATC continues to receive positive press for our
new courses in Food Manufacturing.
Milwaukee Area Technical College District Board
December 17, 2013
Page 3
Mr. Pérez joined the meeting via telephone at 5:14 p.m.
● Honored students at the Lamp of Knowledge Recognition Dinner.
● Drew the board’s attention to the action item concerning the
naming of the building at 6th and McKinley Ave.
● Congratulated our graduates and wished everyone a happy
holiday season.
Action Items
G-1
Naming of building at 6th and McKinley Avenue.
Motion
It was moved by Ms. Wilson, seconded by Ms. Holmes, to approve
the naming of building at 6th and McKinley Avenue as the Health
Education Center.
Action
Motion approved.
ITEM H.
STUDENT GOVERNMENT REPORT
There was no report. Student called in sick.
ITEM I.
LEGISLATIVE MATTERS REPORT
Discussion
Mr. Elvermann gave highlights of the December 17, 2013 Legislative
Task Force Committee meeting:
● Federal Issues:
○ 2014 Federal Budget.
○ Gainful Employment Rule.
● State Issues:
○ Legislative Elections.
○ AB470, Minimum Retirement Age for WRS Participants.
○ AB471, Calculation of Annuity Benefits for WRS Participants.
○ LRB3540/1, Changing the Definition of Eligibility for Serving on
the MATC Board.
Members of the District Board discussed the implications of LRB3540/1. It was
decided to delay any action or response until the bill is introduced.
● Local Issues:
○ Proposed Silk Strip Club License.
○ Cultural and Entertainment Capital Needs Task Force.
Milwaukee Area Technical College District Board
December 17, 2013
Page 4
Mr. Pérez arrived at 5:35 p.m.
ITEM J.
PUBLIC TELEVISION COMMITTEE REPORT
The committee did not meet.
ITEM K.
EDUCATION, SERVICES, AND INSTITUTIONAL RELATIONS
COMMITTEE REPORT
Discussion
Mr. Dull gave highlights of the December 10, 2013, Education,
Services, and Institutional Relations Committee meeting.
ITEM L.
FINANCE, PERSONNEL AND OPERATIONS COMMITTEE
REPORT
Discussion
Ms. Maizonet gave highlights of the December 16, 2013, Finance,
Personnel, and Operations Committee meeting.
Action Items
FPO-6
Resolution (F0017-12-13) Authorizing the Sale of
$1,500,000 General Obligation Promissory Notes,
Series 2013-2014G of Milwaukee Area Technical
College District, Wisconsin
Motion
It was moved by Ms. Maizonet, seconded by Ms. Holmes, to approve
Resolution (F0017-12-13) Authorizing the Sale of $1,500,000 General
Obligation Promissory Notes, Series 2013-2014G of Milwaukee Area
Technical College District, Wisconsin.
Discussion
Mr. John Mehan, managing director, Robert W. Baird & Co.,
distributed and reviewed the Final Pricing Summary for the
$1,500,000 General Obligation Promissory Notes, Series 20132014G.
Action
Motion approved, the roll call vote being as follows:
Ayes:
Dull, Holmes, Maizonet, Pérez, Wachholz, Wilson and
Webber – 7
Noes:
None.
Milwaukee Area Technical College District Board
December 17, 2013
Page 5
FPO-7
Resolution (F0018-12-13) Authorizing the Issuance of
$1,500,000 General Obligation Promissory Notes,
Series 2013-2014H of Milwaukee Area Technical
College District, Wisconsin
Motion
It was moved by Ms. Maizonet, seconded by Ms. Holmes, to approve
Resolution (F0018-12-13) Authorizing the Issuance of $1,500,000
General Obligation Promissory Notes, Series 2013-2014H of
Milwaukee Area Technical College District, Wisconsin.
Action
Motion approved, the roll call vote being as follows:
Ayes:
Holmes, Maizonet, Pérez, Wachholz, Wilson, Dull and
Webber– 7
Noes:
None.
FPO-8
Resolution (F0019-12-13) to Approve FY2012-2013
Budget Modification
Motion
It was moved by Ms. Maizonet, seconded by Ms. Wilson, to approve
Resolution (F0019-12-13) to Approve FY2012-2013 Budget
Modification.
Action
Motion approved, the roll call vote being as follows:
Ayes:
Maizonet, Pérez, Wachholz, Wilson, Dull, Holmes and
Webber - 7.
Noes:
None.
FPO-9
Resolution (F0020-12-13) to Approve FY2012-2013
Comprehensive Annual Financial Report
Motion
It was moved by Ms. Maizonet, seconded by Ms. Wilson, to approve
Resolution (F0020-12-13) to Approve FY2012-2013 Comprehensive
Annual Financial Report.
Action
Motion approved.
Milwaukee Area Technical College District Board
December 17, 2013
Page 6
FPO-10 Approval of Auditor’s Communication to Those
Charged with Governance and Management
Motion
It was moved by Ms. Maizonet, seconded by Mr. Wachholz, to approve
Approval of Auditor’s Communication to Those Charged with
Governance and Management.
Action
Motion approved.
FPO-11 Approval of A133 Single Audit
Motion
It was moved by Ms. Maizonet, seconded by Mr. Wachholz, to approve
Approval of A133 Single Audit.
Action
Motion approved.
ITEM M.
Miscellaneous Items
1. Communications and Petitions.
2. Information Items.
ITEM N.
OLD BUSINESS/NEW BUSINESS
1. Future Agenda Items
Request from L587
Response to LRB3540/1
2. Date of Next Meeting
Tuesday, January 28, 2014, 5:00 p.m. Regular Board Meeting,
Downtown Milwaukee Campus, Board Room (M210)
Adjournment
The meeting adjourned at 6:02 p.m.
Respectfully submitted,
Lauren C. Baker
Secretary
Attachment FPO - 2
BOARD BILLS LIST
The following bills are to be presented for approval at the meeting of the Milwaukee Area
Technical College District Board, State of Wisconsin, to be held on 01-28-14.
Check No.
Company
For
Amount
BILLS PAYABLE RECAPITULATION
Month of December 2013
Payments for encumbrances and monthly expenditures were made for the following funds:
General Fund
Special Revenue Fund-Operational
Special Revenue Fund-Non Aidable
Enterprise Fund
Capital Projects Fund
Debt Service Fund
Internal Service Fund
Public Television Fund
Total Expenditures
6,462,604.340
58,027.080
17,757.720
1,305,054.790
1,447,543.410
11,974,672.230
3,589,538.680
232,048.580
$
Secretary
Chair
Page 1
25,087,247
BOARD BILLS LIST
The following bills are to be presented for approval at the meeting of the Milwaukee Area
Technical College District Board, State of Wisconsin, to be held on 01-28-14.
Bank Transfer Payments
December 2013
Humana Health and Dental Insurance Claims
$
-
Humana Health and Dental Insurance Premiums
$
1,528,971.90
UMR Health Insurance Claims
$
1,068,922.07
M & I Investment Management Fees
$
49.38
Bank Service Charges
$
154.31
Merchant Service Credit Card Fees
$
9,509.17
Wisconsin Retirement System
$
1,830,598.17
OPEB Trust Transfers
$
Federal Payroll Tax
$
2,895,735.34
State Payroll Tax
$
727,514.34
State, County, and Stadium Sales Tax
$
22,100.49
-
Debt Service Fund Wire Payments
Dec-13
Interest
General Obligation Debt Series
2005-06G
2008-09D
2008-09L
2009-10A
2009-10B
2009-10C
2009-10D
2009-10E
2009-10F
2009-10G
Page 2
Principal
37,844
35,000
2,800,000
1,875
1,500
1,875
1,875
1,500
1,500
101,875
3,500,000
General Obligation Debt Series
Interest
2009-10H
2009-10I
2009-10J
2010-11A
2010-11B
2010-11C
2010-11D
2010-11E
2010-11F
2010-11G
2010-11H
2010-11I
2010-11J
2011-12A
2011-12B
2011-12C
2011-12D
2011-12E
2011-12F
2011-12G
2011-12H
2011-12I
2011-12J
2012-13B
2012-13C
2012-13D
2012-13E
2012-13F
2012-13G
2012-13H
2012-13I
2012-13J
2013-14A
2013-14B
2013-14C
2013-14D
1,875
1,875
1,875
8,125
131,500
6,500
8,125
8,125
8,125
8,125
8,125
8,125
8,125
13,125
174,781
10,250
10,250
10,250
8,625
5,750
9,000
11,500
11,500
12,250
137,850
13,375
141,188
12,000
14,625
13,750
21,188
12,658
12,089
9,417
81,250
3,833
1,143,972
Page 3
Principal
4,500,000
10,800,000
Attachment FPO - 3
Financials
MILWAUKEE AREA TECHNICAL COLLEGE
DEPOSITS AND INVESTMENTS
FOR THE MONTH OF NOVEMBER 2013
AMOUNT
BMO HARRIS BANK
147,888
ALLOCATION RATE OF
%
RETURN
0.28%
0.01%
.
J P MORGAN CHASE BANK ACCOUNTS
51,991,751
CERTIFICATES OF DEPOSIT
WISCONSIN LOCAL GOVERNMENT INVESTMENT POO
98.56%
0.12%
-
0.00%
0.00%
18,870
0.04%
0.09%
592,475
52,750,985
1.12%
100%
0.05%
BMO INVESTMENT MANAGEMENT CORPORATION:
COMMERCIAL PAPER
SHORT TERM CORPORATE BONDS
GOVERNMENT OBLIGATIONS FUND
USA TREASURY BILLS
USA TREASURY NOTES
592,475
-
CASHFLOW ‐‐ ALL FUNDS
Fiscal Year 2014
140.00
120.00
Millions
100.00
80.00
60.00
40.00
20.00
‐
FY12‐13 ACTUAL
FY13‐14 PROJECTED
FY13‐14 ACTUAL
SHEET-ALL
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
FY12-13
FY13-14
ACTUAL PROJECTED
82.29
71.85
85.81
72.03
89.04
75.79
84.90
71.56
69.26
52.46
40.29
108.63
123.40
108.75
111.77
98.14
82.17
FY13-14
ACTUAL
70.15
73.72
76.78
73.29
52.75
Page 3
CASHFLOW -- OPERATING FUNDS
Fiscal Year 2014
70
60
Millions
50
40
30
20
10
0
FY12-13 ACTUAL
FY13-14 PROJECTED
FY13-14 ACTUAL
SHEET-OP FUNDS
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
FY12-13
ACTUAL
45.24
42.90
31.62
28.39
16.52
4.43
53.63
60.11
44.70
45.94
33.33
42.97
FY13-14
PROJECTED
30.64
31.00
21.00
21.38
9.20
3.79
46.81
56.08
39.55
39.57
26.38
34.33
FY13-14
ACTUAL
29.43
31.39
20.98
21.84
9.96
Page 5
40.00
CASHFLOW -- CAPITAL PROJECTS FUND
Fiscal Year 2013
35.00
30.00
Millions
25.00
20.00
15.00
10.00
5.00
-
FY12-13 ACTUAL
FY13-14 PROJECTED
FY13-14 ACTUAL
SHEET-CAP FUNDS
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
FY12-13
FY13-14
ACTUAL PROJECTED
25.02
20.36
20.00
22.22
33.00
35.91
28.00
34.67
22.95
32.90
22.13
31.40
20.58
29.42
18.95
28.97
28.99
18.08
16.40
28.48
14.91
28.07
10.00
24.00
FY13-14
ACTUAL
24.52
20.99
33.67
28.53
22.50
Page 7
CASHFLOW -- DEBT SERVICE FUND
Fiscal Year 2013
40.00
35.00
30.00
Axis Title
25.00
20.00
FY12-13 ACTUAL
FY13-14 PROJECTED
15.00
10.00
5.00
-
FY13-14 ACTUAL
SHEET-DEBT SERV
JULY
AUGUST
SEPTEMBER
OCTOBER
NOVEMBER
DECEMBER
JANUARY
FEBRUARY
MARCH
APRIL
MAY
JUNE
FY12-13
ACTUAL
16.70
20.69
21.51
21.84
19.85
4.46
25.59
34.32
35.07
37.35
36.74
15.20
FY13-14
PROJECTED
16.19
21.03
21.79
22.18
20.31
2.60
30.74
31.42
33.56
34.36
14.47
14.82
FY13-14
ACTUAL
16.20
21.34
22.13
22.93
20.28
Page 9
Attachment FPO - 4
matc
HUMAN RESOURCES REPORT
January 2014
Ninety-one transactions are included in the report for January.
Appointments
Forty-Seven appointments occurred during the reporting period, thirty-four of which are
faculty appointments and thirteen of which are staff appointments. Included in the
faculty appointments are twenty-two part-time regular faculty, eleven full-time regular
faculty and two full-time limited term faculty. Included in the staff appointments are
seven part-time regular, four part-time limited term and two full-time regular staff.
Twenty males and twenty-seven females comprise the appointments. Represented in
that total are three black males, six black females, two Hispanic males, one
American/Alaska Native female, and two Asian females.
Fiscal year-to-date, total appointments are two hundred six. Included in that total are
eighty-two males (39.8%) and one hundred twenty-four females (60.2%). Minority hires
total sixty-two (30.1%), including forty-three black (20.9%).
This Month
Year-to-date
YTD Percent
White
Male Femal
e
14
16
56
77
64.6%
2 or More Races
Male
0
0
Female
1
3
2.4%
Black
Male Female
3
19
6
24
20.9%
Hispanic
Male Female
1
2
0
6
3.9%
Asian
Male Female
0
0
2
6
2.9%
Native
American
Male Female
0
3
1
2
2.4%
Male
20
82
39.8%
Other
Male
0
0
Female
0
4
2.9%
Changes in Status
The fourteen changes in status during this reporting period represent five part-time to
full-time assignments, six promotions, and one limited term assignment to full-time
regular, one part-time to full-time limited term assignment and one part-time LTE to parttime regular. Nine females and three males comprise the changes in status. Included
in that total are two black females, one Hispanic female, and one Asian female.
Separations
The thirty separations represent twenty-one retirements, seven resignations, one
termination and one death. Seventeen females and thirteen males comprise the
Total
Female
27
124
60.2%
separations. Included in that total are two Hispanic males, two Hispanic Females, one
black male, six black females and one Asian female.
TRANSACTION SUMMARY REPORT
FOR
January 2014
APPOINTMENTS
CHANGES IN
STATUS
SEPARATIONS
16 (3)
2 (1)
4
22(4)
5(3)
1
3(1)
9(4)
LIBERAL ARTS & SCIENCES
3
2
4
9
MEDIA & CREATIVE ARTS
3
0
1
4
PRE-COLLEGE
4
2(2)
1(1)
7(3)
TECHNOLGY & APPLIED
3
3
1
7
ACADEMIC SERVICES
1
1(1)
1(1)
3 (2)
DISTRICT ADMINISTRATION
0
0
0
0
EMPLOYEE AND LEGAL
0
0
2(2)
2(2)
FINANCE
2(1)
0
4(2)
6(4)
INFORMATION TECHNOLOGY
4(2)
1
0
5(2)
PUBLIC TELEVISION
0
0
0
0
STUDENT SERVICES
6(4)
2(1)
8(4)
16(9)
0
0
1
1
47(13)
14(5)
30(12)
91(30)
DIVISION OR SCHOOL
BUSINESS
HEALTH SCIENCES
**AA
TOTAL
SCIENCES
SERVICES
WORKFORCE & ECONOMIC
DEVELOPMENT
TOTALS BY CATEGORY
TOTAL TRANSACTIONS FOR THE MONTH
**Affirmative Action totals in parentheses.
91(30)
Non-represented Salary Schedule
Effective July 1, 2012
Exempt
Salary
Grade
Title
917 916 915 914 913 912 911 Vice President Associate Vice President, Dean Associate Dean, Director Assistant Dean, Manager Coordinator Senior Specialist, Supervisor Specialist Minimum
Mid-Point
Maximum
$ 129,365 $ 90,000 $ 79,725 $ 64,055 $ 56,338 $ 46,539 $ 41,640 $ 166,812 $ 121,708 $ 108,108 $ 86,860 $ 76,393 $ 63,107 $ 56,463 $ 204,259 $ 153,415 $ 136,489 $ 109,664 $ 96,447 $ 79,673 $ 71,285 Non-Exempt
Salary
Grade
Title
Minimum
Mid-Point
Maximum
904 903 902 901 Senior Technician Administrative Specialist Assistant Aide $ 44,245 $ 38,475 $ 33,455 $ 24,228 $ 59,999 $ 52,170 $ 45,366 $ 32,851 $ 75,750 $ 65,864 $ 57,275 $ 41,476 Human Resources Report
January 2014
Appointments
Division or School
Employee Name
Employee Status
Job Title
Type of
Transaction
Start
Date
Business
Richard A. Baas
Karen M. Cartwright
Gretchen A. Davidson
Kurt Fogle
Jeffery R. Grant
Ronny L. Hill
Steven R. Johnson
M. Kathleen Meisinger
Daniel D. Mickelsen
Amy B. Poshepny
Kenneth E. Robertson
Laura B. Ruff
Mary P. Schmitt
Carmen M. Smalley
Rebecca G. Toledo
Stefan L. Vater
Part-Time Regular
Part-Time Regular
Full-Time Regular
Part-Time Regular
Part-Time Regular
Part-Time Regular
Part-Time Regular
Part-Time Regular
Part-Time Regular
Full-Time Regular
Part-Time Regular
Part-Time Regular
Part-Time Regular
Part-Time Regular
Full-Time Regular
Part-Time Regular
Instructor, Commercial Real Estate
Instructor, Meeting & Event Management
Instructor, Fashion and Retail Marketing
Instructor, Baking & Pastry Arts
Instructor, Accounting
Instructor, Meeting & Event Management
Instructor, Culinary Arts
Instructor, Baking & Pastry Arts
Instructor, Commercial Real Estate
Instructor, Aesthetician Barber/Cosmetology
Instructor, Accounting
Instructor, Accounting
Instructor, Commercial Real Estate
Instructor, Meeting & Event Management
Instructor, Accounting
Instructor, Commercial Real Estate
New Position
New Position
Replacement
New Position
Replacement
New Position
Replacement
New Position
New Position
Replacement
Replacement
Replacement
New Position
New Position
Replacement
New Position
Health Sciences
Diane S. Brower
Bryan Q. Edmonds
Patricia S. Garrett
Laura B. Gettelman
Aruna Lal
Full-Time Regular
Full-Time Regular
Part-Time Regular
Part-Time Regular
Full-time LTE
Instructor, Radiography
Instructor, Medical Assistant
Instructor, Medical Assistant
Instructor, Radiography
Instructor, Nursing
Liberal Arts & Sciences
Paige A. Conley
Amber D. Gathje
Vivian M. Jorgensen
Full-Time Regular
Full-Time Regular
Part-Time Regular
Media & Creative Arts
John O. Dorn
Jennifer L. Muecke
James R. Wamser
Pre-College
End
Date
Salary
Education
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
01/17/14
$30.7090/hour
$39.7790/hour
$52,409/annual
$36.7556/hour
$30.7090/hour
$30.7090/hour
$36.7556/hour
$36.7556/hour
$30.7090/hour
$$67,888/annual
$39.7790/hour
$53.3837/hour
$39.7790/hour
$30.7790/hour
$52,409/annual
$30.7090/hour
B.S. - Cardinal Stritch University
MBA - Concordia University
B.A. - UW Madison
A.A. - MATC
BBA - UW Milwaukee
M.A. - The George Washington University
B.S. - San Francisco State
B.S. - U of Missouri (Columbia)
BBA - UW Milwaukee
B.S. - UW Stout
BBA - UW Milwaukee
B.A. - U of NC at Chapel Hill
MBA - UW Parkside
MBA - Concordia University
MBA - San Francisco State
MBA - UW Milwaukee
Replacement
Replacement
Replacement
Replacement
Replacement
01/17/14
01/17/14
01/17/14
01/21/14
01/17/14 05/23/14
$52,409/annual
$70,470/annual
$30.7090/hour
$30.7090/hour
$46.7938/hour
B.S. - U of St. Francis
MBA - Cardinal Stritch University
MBA - Colorado Technical University
B.S. - Marion College
PhD - UW Milwaukee
Instructor, English
Instructor, Mathematics
Educational Assistant
Replacement
Replacement
Replacement
01/17/14
01/17/14
01/06/14
$78,211/annual
$70,470/annaul
$24.9840/hour
PhD - UW Milwaukee
M.S. - UW Milwaukee
M.S. - Cardinal Stritch University
Part-Time Regular
Part-Time Regular
Part-Time Regular
Instructor, Graphic Design
Instructor, Graphic Design
Instructor, Commercial Art
Replacement
Replacement
Replacement
01/17/14
01/17/14
01/17/14
$30.7090/hour
$30.7090/hour
$30.7090/hour
B.A. - UW Eau Claire
A.A. - Minneapolis Community Tech College
unknown
Dewey Caton
Courtney G. Chevalier
Catherine J. Kaye
Ronald R. Stein
Part-Time Regular
Full-Time Regular
Full-Time Regular
Full-Time Regular
Instructor, Basic Skills Math
Instructor, Basic Skills Math
Instructor, English as a Second Language
Instructor, English as a Second Language
Replacement
Replacement
Replacement
Replacement
01/17/14
01/17/14
01/17/14
01/17/14
$30.7090/hour
$73,049/annual
$52,409/annual
$73,049/annual
M.Ed. - Northwestern
M.S. - Lehman College
M.A. - U of Illinois at Chicago
M.A. - San Diego State University
Technology & Applied
Sciences
Michael J. Breshahan
Christopher L. Varsos
Daniel R. Zdrojewski
Part-Time Regular
Part-Time Regular
Full-Time Limited Term
Instructor, Sprinkler Fitter
Instructor, Truck Driver
Instructor, Truck Driver
New Position
New Position
New Position
12/12/13
$53.9500/hour
01/17/14
$36.7556/hour
01/17/14 05/23/14 $60.6143/hour
High School Diploma
High School Diploma
B.S. - U of Phoenix
Part-Time Regular
Word Processing Specialist
Replacement
01/06/14
$20.7560/hour
B.A. - UW Parkside
Academic Services
Amy B. Leitermann
District Administration
None
Employee & Legal Services
None
Finance
Jeffrey Hollow
Quentin L. Trice
Full-Time Regular
Part-Time Regular
Controller
Building Services Assistant
Replacment
Replacement
02/03/14
12/17/13
$115,000/annual
$18.4260/hour
MBA - Loyola University
CertHE - MATC
Information Technology
Jonathan B. Arnold
Ocie M. Buckner
Serita F. Campbell
Maria E. Stubbendick
Full-Time Regular
Part-Time Regular
Part-Time Regular
Part-Time Regular
Instructor, IT Support
Alternate Delivery Technician
Alternate Delivery Technician
Alternate Delivery Technician
Replacement
Replacement
Replacement
Replacement
01/17/14
12/17/13
01/06/14
12/17/13
$52,409/annual
$21.5963/hour
$21.5963/hour
$21.5963/hour
MBA, UW Milwaukee
A.A. - MATC
A.A. - MATC
B.A. - UW Madison
Student Services
Elouise Baylor
Robert Chorny
Naomi D. Morris
Lisa M. Nelson
Timothy Pemberton
Amaury L. Rivera
Part-Time Regular
Part-Time Temporary
Part-Time Temporary
Full-Time Regular
Part-Time Temporary
Part-Time Temporary
Word Processing Associate
Tutor
Tutor
Word Processing Associate
Tutor
Tutor
Replacement
Replacement
Replacement
Replacement
Replacement
Replacement
01/13/14
01/02/14
01/02/14
01/30/14
01/02/14
01/13/14
Workforce & Economic
Development
None
Public Television
$15.3691/hour
05/23/14 $10.000/hour
05/23/14 $9.0000/hour
$15.3691/hour
05/23/14 $12.0000/hour
05/23/14 $10.00/hour
A.A. - Cardinal Stritch University
A.A. - MATC
AA. - MATC
A.A. - MATC
B.A. - UW Milwaukee
High School Diploma
Human Resources Report
January 2014
Changes In Status
Division or School
Employee Name
Personnel Action
Job Title
Type of Transaction
Start Date End Date
Business
Celena M. Williams
Amy L. Lopez
Promotion
Promotion
From Tutor to Part-Time Instructor, Barber/Cosmetology
From Tutor to Part-Time Instructor, Barber/Cosmetology
Replacment
Replacment
01/17/14
01/17/14
Health Sciences
Karim M. Badani
Part-Time to Full-Time
Instructor, Surgical Technology
Replacement
01/17/14
$78,211/annual
Liberal Arts & Sciences
Elizabeth S. Cerpich
Tina M. McLeod
Part-Time to Full-Time LTE
FT LTE to Full-Time Regular
Instructor, Spanish
Instructor, Natural Science
Replacement
Replacement
01/17/14
01/17/14
05/23/14 $67.5250/hour
$80,789/annual
Media & Creative Arts
None
Pre-College
Angela N. Colas
Giovanna Doll
Part-Time to Full-Time
Promotion
Instructor, Basic Skills English/Reading & Special Needs ASL
from Educational Assistant to Academic Support Specialist
New Position
Replacement
01/17/14
01/13/14
$78,211/annual
$25.8201/hour
Technology & Applied Sciences
Douglas A. Braun
Melissa S. Elliott
Thoams A. Plevak
Part-Time to Full-Time
Part-Time to Full-Time
Part-Time to Full-Time
Instructor, Police Technology
Instructor, Police Technology
Instructor, Fire Technology
Replacement
Replacement
Replacement
01/27/14
01/17/14
01/17/14
$75,628/annual
$67,888/annual
$78,211/annual
Academic Services
Yan Wang
Promotion
From Manager, Research to Director, Institutional Research
Replacement
12/18/13
$89,000/annual
District Administration
None
Employee & Legal Services
None
Finance
None
Information Technology
Megan L. Hamilton
from LTE to Permanent
Educational Assistant - Web Enhanced Instruction
Replacement
12/12/13
$24.9840/hour
Public Television
None
Student Services
Sarah Adams
Camille Nicolai
Promotion
Promotion
From Registrar to AVP Student Services
From Manager, Financial Aid to Director, Financial Aid
Reclassification with additional duties
Replacement
01/29/14
01/29/14
$113,000/annual
$86,000/annual
Workforce & Economic Development
None
Salary
$30.7090/hour
$30.7090/hour
Human Resources Report
January 2014
Separations
Effective
Date
Division or School
Employee Name
Ending Reason
Job Title
Business
Lillie Adams
Peter J. Musante III
Kathryn Shaw
William L. Wirth
Retirement
Retirement
Resignation
Retirement
Instructor, Office/Systems Technology
Instructor, Paralegal
Educational Assistant (part-time)
Instructor, IT Programming Development
01/17/14
01/17/14
12/27/13
05/23/14
Health Sciences
Barbara Berte
Christopher Jack
Sherry L. Ortiz
Retirement
Termination
Resignation
Instructor, Nursing
Instructor, Medical Assistant
Instructor, Radiologic Technology (part-time)
05/29/14
12/12/13
12/16/13
Liberal Arts & Sciences
Miriam Ben-Shalom
Cynthia G. Caplin
Robert Hackenberg
Mary H. Thomas
Resignation
Retirement
Death
Resignation
Instructor, Communication Skills
Instructor, Mathematics
Instructor, Mathematics
Instructor, Social Science (part-time)
05/23/14
05/23/14
01/06/14
12/20/13
Media & Creative Arts
Robert J. Stocki
Retirement
Instructor, Commercial Art
05/23/14
Pre-College
Sharyn Gest
Lilly Simmons
Retirement
Resignation
Word Processing Assistant
Instructor, English
03/05/14
05/23/14
Technology & Applied Sciences
Philip Leverault
Niles Ottesen
Retirement
Retirement
Instructor, Mechanical Technology
Instructor, Fire Technology
05/01/14
05/23/14
Academic Services
Lorraine Tyler
Retirement
Educational Assistant
02/14/14
District Administration
None
Employee & Legal Services
Pablo G. Cardona
Marquoise D. Vasquez
Retirement
Resignation
Vice President - Human Resources
Coordinator, Employee Relations
06/27/14
01/03/14
Finance
David Belasco III
Marilyn Myhre
Steven Obermeier
Joan Thompsom
Retirement
Retirement
Retirement
Retirement
Instructor, Equipment Repair
Educational Assistant
Child Development Specialist
Child Development Specialist
02/08/14
02/12/14
02/14/14
02/14/14
Information Technology
None
Public Television
None
Student Services
Maria E. Abrego
Allan E. Brotton II
Ann Burbach
Christine C. Kao
Rebecca Quesada
Todd S. McGilligan
Mary O'Leary-Michalski
Kenneth K. Schwacher
Barbara Toles
Retirement
Retirement
Retirement
Retirement
Retirement
Retirement
Retirement
Retirement
Retirement
Student Services Specialist
Guidance Counselor
Guidance Counselor
Guidance Counselor
Student Services Specialist
Student Services Specialist
Paralegal
Sign Language Interpreter
Employment Development Specialist
02/13/14
01/31/14
02/10/14
02/14/14
02/07/14
02/14/14
02/14/14
01/18/14
02/13/14
Workforce & Economic Development
Kenneth C. Woods
Resignation
Instructor, Horology (part-time)
12/31/13
Attachment FPO – 5 PROCUREMENT REPORT JANUARY 2014 The Procurement report consists of:  Part I External Contracts  Part II Procurements  Part III Contracts for Services  Part IV Construction Contracts  Part V Lease Agreements Each month the board approves contracts, procurements and services related to the operation of the College. The current items for board approval are: I.
External Contracts None II.
Procurements 1. Advertising Expenditures for Milwaukee Public TV December Actual $10,847.59 Minority Media Percentage was 6% January Estimated $10,235.73 Minority Media Percentage is 10‐12% February Estimated TBD Minority Media Percentage is 10‐12% 2. Advertising Expenditures for MATC December Actual $3585.38 Minority Media Percentage was 0% January Estimated $3585.38 Minority Media Percentage is 10‐12% February Estimated $7985.38 Minority Media Percentage is 10‐12% 3. MPTV Advertising Services Eichenbaum & Associates Milwaukee, WI $460, 000 ($230,000 per year/2 years) 4. Recruitment Software NeoGov El Segundo, CA $102,500 5. E.F.P. Camera System VSA‐Chicago Buffalo Grove, IL $145,665 1
6. AVID Edit System CineSys‐Oceana Aurora, IL $245,953 7. TeamDynamix Software TeamDynamix Solutions Columbus, OH $53,512 Contracts for Services None III.
IV.
Construction Contracts None V.
Lease Agreements None 2
Part II: PROCUREMENTS Item 1: Advertising Expenditures for Milwaukee Public TV Background Information Advertising and publicity expenditures are coordinated through an advertising/media firm. The advertising firm was selected through a formal request for proposal process. The advertising agency manages production and media placement. Channels 10/36 station media expenses were submitted for review to the Public Television Committee and are herewith submitted to the Finance, Personnel and Operations Committee for review and for presentation to the Board. College and station media purchases are executed through Eichenbaum & Associates, Milwaukee, WI which receives a commission for its placements. Channel 10/36 advertising and publicity services placed in December 2013 plus estimates for January 2014 and February 2014 are listed below and in the attachments. December 2013 Actual advertising expenditures $ 10,847.59 Minority Media percentage was 6% January 2014 Actual advertising expenditures $10,235.73 Minority Media percent target is 10‐12% February 2014 Advertising estimates TBD Minority Media percent target is 10‐12% Detailed information by month is attached, along with a fiscal year summary page.
3
Part II: PROCUREMENTS Item 1: Advertising Expenditures for Milwaukee Public TV Detail page for December Actual EICHENBAUM / ASSOCIATES 219 North Milwaukee Street Milwaukee, WI 53202 P: 414.225.0011 / F: 414.225.0022 Milwaukee Public TV Media December, 2013 Actual Advertising Objectives: Pledge $10,847.59
Media Budget: Online Out‐of‐Home Print El Conquistador (Pledge) $346.06
Radio Pledge $10,501.53
Direct Mail Target Minority Owned Media Percentage: 10‐12% of media cost
Hispanic‐Owned El Conquistador $346.06 African American‐Owned 4
3%
$346.06 Part II: PROCUREMENTS Item 1: Advertising Expenditures for Milwaukee Public TV Detail page for January Estimate EICHENBAUM / ASSOCIATES 219 North Milwaukee Street
Milwaukee, WI 53202 P: 414.225.0011 / F: 414.225.0022 Milwaukee Public TV Media
January, 2014 Estimate Advertising Objectives: Special Programming Media Budget: $10,235.73
Online Born To Royalty Around the Corner & Thurs. Night Line‐Up $462.50
$462.50
Out‐of‐Home Digital Boards: Around the Corner $2,938.24
Print Hartford Times Press (Around the Corner) Express News (Around the Corner) $345.89
$470.12
Radio Born To Royalty Around the Corner & Thurs. Night Line‐Up $2,074.78
$3,481.70
Direct Mail Target Minority Owned Media Percentage: 10‐12% of media cost 0% Hispanic‐Owned 5
$0.00 PROCUREMENTS Item 1: Advertising Expenditures for Milwaukee Public TV Detail page for February Estimate TO BE DETERMINED MARKETING ADVERTISING RFP PENDING EICHENBAUM / ASSOCIATES Milwaukee Public TV Media 219 North Milwaukee Street Milwaukee, WI 53202 P: 414.225.0011 / F: 414.225.0022 February, 2014 Estimate Advertising Objectives: Media Budget: Online Out‐of‐Home Print Radio Direct Mail Target Minority Owned Media Percentage: 10‐12% of media cost Hispanic‐Owned African American‐Owned 6
Part II: PROCUREMENTS Item 1: Advertising Expenditures for Milwaukee Public TV Monthly Actual Milwaukee Public Television Media EICHENBAUM / ASSOCIATES 219 North Milwaukee Street Milwaukee, WI 53202 P: 414.225.0011 / F: 414.225.0022 MINORITY SPENDING REPORTS
FY2014: July 2013 ‐ June 2014
(Media amounts by month billed)
AS OF 1/3/2014 TOTAL MEDIA SPENDING (ALL TARGETS)
Month July August September October November December January February March April May June Total Radio $0.00 $0.00 $8,545.15 $0.00 $5,769.23 $10,501.53 $24,815.91 TV Print $0.00 $0.00 $0.00 $726.94 $0.00 $1,535.50 $0.00 $3,293.21 $0.00 $380.88 $0.00 $346.06 $0.00 $6,282.59 Outdoor $0.00 $0.00 $0.00 $13,222.06 $0.00 $0.00 Online $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Placed directly through MPTV $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Total Media Placements $0.00 $726.94 $10,080.65 $16,515.27 $6,150.11 $10,847.59 $13,222.06 $0.00 $0.00 $44,320.56 7
Part II: PROCUREMENTS Item 2: Advertising Expenditures for MATC Background Information Advertising and publicity expenditures are coordinated through an advertising/media firm. The advertising firm was selected through a formal request for proposal process. The actual placement of the advertising is then treated as sole source procurement. The advertising agency manages production and media placement. College media expenses are herewith submitted to the Finance, Personnel and Operations Committee for review and for presentation to the Board. College media purchases were executed through Stir, LLC, Milwaukee, WI which receives a commission for placements made. MATC advertising and publicity services placed in December 2013 plus estimates for January 2014 and February 2014 are listed below and in the attachments. December 2013 Advertising expenditures $3,585.38 Minority Media percent was 0% January 2014 Advertising expenditures $3,585.38 Minority Media percent target is 10‐12% February 2014 Advertising estimate $7,985.38 Minority Media percent target is 10‐12% 8
Part II: PROCUREMENTS Item 2: Advertising Expenditures for MATC Detail page for December Actual STIR, LLC 135 W. Wells Street, STE 800 Milwaukee, WI 53203 P: 414‐278‐0040/ F: 414‐278‐0390 Milwaukee Area Technical College Media December 2013 ACTUAL Advertising Objective: Recruitment & Community Relations $3585.38 Media Budget: Online Out‐of Home Print Radio Television Social Media Services Facebook Advertising STIR‐Production & marketing Services $3,235.38 $350.00 $12,195.00 Minority Spend: December $0.00 9
Part II: PROCUREMENTS Item 2: Advertising Expenditures for MATC Detail page for January Estimate STIR, LLC 135 W. Wells Street, STE 800 Milwaukee, WI 53203 P: 414‐278‐0040/ F: 414‐278‐0390 Milwaukee Area Technical College Media January 2014 Estimate PO #0322829 $247,500.00 Advertising Objective: Recruitment & Community Relations $3585.38 Media Budget: Online Out‐of Home Print Radio Television Social Media Services Facebook Advertising $3,235.38 $350.00 Minority Spend: January 2014 $0.00 10
Part II: PROCUREMENTS Item 2: Advertising Expenditures for MATC Detail page for February Estimate STIR, LLC 135 W. Wells Street, STE 800 Milwaukee, WI 53203 P: 414‐278‐0040/ F: 414‐278‐0390 Milwaukee Area Technical College Media February 2014 Estimate Advertising Objective: Recruitment & Community Relations $7985.38 Media Budget: Online Out‐of Home Print Radio $4,400.00 Television Social Media Services $3,235.38 Facebook Advertising $350.00 Minority Spend: February 2014 $0.00 11
Part II: PROCUREMENTS Item 2: Advertising Expenditures for MATC Monthly Actual Milwaukee Area Technical College Media STIR, LLC 135 W. Wells Street, STE 800 Milwaukee, WI 53203 P: 414‐278‐0040/ F: 414‐278‐0390 MINORITY SPENDING REPORTS FY2014: July 2013 ‐ June 2014 (Media amounts by month billed) TOTAL MEDIA SPENDING (ALL TARGETS)
Month July August September October November December January February March April May June Total Radio $0.00 $0.00 $8,545.15 $0.00 $15,935.00 $0.00 $8,545.15 TV $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Print $0.00 $726.94 $1,535.50 $3,293.21 $0.00
$0.00
Outdoor Online $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $13,222.06 $0.00 $0.00 $3,585.38
$0.00 $3,585.38
Placed directly through MATC $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 Total Media Placements $0.00 $0.00
$3,047.06
$10,732.97
$19, 520.38
$3,585.38
$5,555.65 $13,222.06 12
$0.00 $0.00 $36,885.79
Part II: PROCUREMENTS Item 3: MPTV Advertising Services Background: The administration of Milwaukee Area Technical College requested proposals for the services of marketing/advertising agencies. The requirements for this service were outlined in RFP 14‐12; documents were prepared in accordance with Board policies and Statue regulations. Advertisements were place in three (3) local newspapers and twenty‐
five (25) vendors were solicited. RFP documents were publicly opened at 11:00 AM on December 13, 2013 with two (2) responses received:  Eichenbaum & Associates  Stir In representing MPTV solely, the selected agency must be able to work within the confines of $230,000 per year for two (2) years. Guided by MPTV’s staff, within the above budget parameters, the selected agency will recommend an annual advertising plan designed to meet these objectives:  Expand regional audience  Elevate fund raising  Burnish image Proposals received as a result of this RFP were evaluated by an internal committee of four (4) individuals based on the following criteria. [30%] Respondent’s approach to the development and execution of an advertising plan [10%] Understanding and applying diversity principles relative to MPTV viewers [15%] Agency/staff creativity and background experience [10%] Budget concept allocations for production and media placement [ 5%] Involvement of MBE/WBE/DBE participation and diversity commitment [20%] Commission fee structure [10%] Agency’s demonstrated understanding of MPTV and Public Broadcasting Positive action by the MATC board will result in a purchase order issued to Eichenbaum/Associates of Milwaukee WI in the amount of $230,000 per year for two years. 13
Part II: PROCUREMENTS Item 4: Recruitment Software MATC is purchasing a new application tracking system to replace our current system contract, which expires effective April 24, 2014. This opportunity allowed us to look for a system that will meet our customer’s (internal and external) needs in terms of use, functionality and reporting capabilities. During the RFP (14‐13) process NeoGov was identified as our top vendor by our evaluation committee scoring because it meets our current and future needs by providing a more user friendly system for applicants, hiring managers, and human resources personnel. NeoGov offers over 80 standard reports that will be utilized for compliance reporting purposes (e.g. EEO, Affirmative Action, adverse impact, etc.) and measurable metrics (e.g. time to fill, summary of req. activity, etc.) that can be further explored to increase efficiency throughout our current recruitment process. In addition, they offer an on‐boarding portal that enhances new hires on‐boarding experiences and acts as a support to them during their first days on the job (e.g. new hire checklists, electronic completion of I9’s, videos, training materials, etc.). Lastly, NeoGov is tailored exclusively for Public Sector and Educational organizations; therefore, providing many of the services and capabilities we require and need of an application tracking system. Proposals received as a result of the RFP were evaluated by an internal committee of four (4) individuals based on the following criteria: (The numbers in parentheses indicate weighted percentages for criteria shown) EVALUATION CRITERIA (35) User Interface (15) Reporting Capabilities (15) Scalability and Maintenance (10) Integration with existing software (15) Customer Service (10) Involvement of MBE/WBE/DBE participation The evaluation team recommends a three year initial agreement in the amount of $64,500 and two one year renewals for $19,000 each for a grand total of $102,500. NeoGov El Segundo, CA. $102,500 Positive action by the Board on this item will authorize the issuance of a purchase order to NeoGov of El Segundo, CA. 14
Part II: PROCUREMENTS Item 5: E.F.P. Camera System Background: MPTV has been using tape based High Definition production workflows since 1997. Technology has improved and videotape is no longer the medium of choice among professional broadcasters. Moving from videotape to a wholly file‐based system has been planned by MPTV staff for several years. In this fiscal year we have been granted the capital funds to complete the project. The first of these purchases are the field cameras which are used to gather over 90% of our local production footage. Our current field cameras are Sony HDCam tape units that were last purchased in 2004. The replacement systems are recording on reusable data cards that, over time will reduce the operating costs of purchasing videotape. MPTV created a camera specification that re‐used the very expensive High Definition lenses and other items. The respondents to the bid have provided us with pricing for Sony PMW‐500 HD card based cameras and corresponding accessories. This avoids the expense of replacing the Sony System. The capital purchase of four cameras and support equipment is from the responses from three (3) sellers of professional television broadcast camera equipment. Bid 14‐16 requested a cost per unit of specified equipment. Selection of specific quantities of each item resulted in VSA‐Chicago as the lowest bidder. Sony Electronics of Itasca, IL AVO Systems, Inc. of Brookfield, WI VSA‐Chicago, Buffalo Grove, IL Positive action by the MATC board will result in a purchase from VSA‐Chicago for the cost of $145,665.02. 15
Part II: PROCUREMENTS Item 6: AVID Edit System Background: This purchase is to replace our existing Avid HD Unity video storage array, which is no longer supported by the manufacturer and related hardware used to create MPTV production and promotion materials. MPTV has been editing with Avid technology since 2004 and it is the industry standard production editing tool. To maintain a continuity of current edit workflows, retain existing editor knowledge base and reduce capital costs by upgrading rather than replacing, the requested items were sourced from Avid. The multiple workstations that MPTV uses, will move large file‐based media from the ISIS server to client editor applications and back across a hardened Ethernet backbone running Avid specific software. In order to create seamless movement and full continuity of the video files and metadata Avid uses Interplay Central, Transcode and Archive services software, with corresponding server hardware. Additionally the interconnection between the ISIS server and MPTV’s existing Spectralogic storage archive is facilitated directly from the edit software and does not require the purchase and use of third party interfaces with less than acceptable workflows. The proposed system provides true remote desktop media workflows via a central video storage array for the MPTV production department to access files from local desktops. Avid provides connectivity, technical support capability and continued seamless integration with the academic divisions AVID edit system. Four (4) vendors were solicited via Bid 14‐17. Three (3) vendors responded: Avid, Burlington, MA No Bid Key Code Media, Spring Lake, MI $279,216.00 CineSys‐Oceana, Aurora, IL $245,953.10 Positive action by the MATC board will result in a purchase order issued to CineSys Inc. of Aurora, IL in the amount of $245,953.10. 16
Part II: PROCUREMENTS Item 7: TeamDynamix Software Background: Team Dynamix is a software specifically tailored to meet the needs of colleges and universities in the areas of IT Governance, Project Management, Change Management, Risk Management, System Development Life Cycle, IT Service Desk and Ticketing, Resource Management, and Budget. Team Dynamix was selected to help the IT Department implement the components of ITIL (Information Technology Infrastructure Library) as recommended by the Auditors from Titus and Baker‐Tilly. This is a sole source purchase. The items purchased are in addition to existing software and licenses and are compatible with the existing software. Additional expense would be incurred if a competitor product was purchased instead. Teamdynamix Solutions, Columbus, OH $53,512 Positive action by the MATC board will result in a purchase order issued to Teamdynamix in the amount of $53,512. 17
Attachment FPO - 6
$1,500,000.00
Milwaukee Area Technical College District, Wisconsin
General Obligation Promissory Notes, Series 2013-14H
RESOLUTION AUTHORIZING THE SALE OF $1,500,000.00
GENERAL OBLIGATION PROMISSORY NOTES, SERIES 2013-14H
Resolution F0021-01-14
WHEREAS, pursuant to Section 67.12(12) of the Wisconsin Statutes, as amended
(the “Act”), the Milwaukee Area Technical College District, Wisconsin (the “District”), is
authorized to issue notes of the District in the aggregate amount of $1,500,000.00 for the
public purpose of financing building remodeling and improvement projects, consisting of
projects included in the District's 2013-2014 building remodeling and improvement program
(the public purpose projects described above are hereafter referred to as the “Public
Purposes”); and
WHEREAS, on December 17, 2013, the District authorized the issuance of
$1,500,000.00 General Obligation Promissory Notes, Series 2013-14H (the “Notes”) for the
Public Purposes; and
WHEREAS, the District has prepared and distributed a Preliminary Official
Statement, dated January 21, 2014, as revised by an Addendum dated January 30, 2014
(the “Preliminary Official Statement”), describing the Notes and the security therefor; and
WHEREAS, the District has examined proposed documentation for the Notes
(collectively, the “Note Documents”), as follows:
(a)
an Official Notice of Sale issued by the District and a Parity Bid Form
(the “Note Purchase Agreement”) to be entered into between the District and the
Underwriter, providing for the sale of the Notes; and
(b)
the Preliminary Official Statement.
WHEREAS, it is now expedient and necessary for the District to issue its general
obligation promissory notes in the amount of $1,500,000.00 for the Public Purposes;
NOW, THEREFORE, the District hereby resolves as follows:
Section 1. Definitions. The following terms shall have the following meanings in this
Resolution unless the text expressly or by implication requires otherwise:
“Act” shall mean Section 67.12(12) of the Wisconsin Statutes;
“Code” shall mean the Internal Revenue Code of 1986, as amended;
“Continuing Disclosure Agreement” shall mean the Continuing Disclosure
Agreement, executed and delivered by the Issuer, dated February 19, 2014 (the
“Continuing Disclosure Agreement”), delivered by the District for the purpose of complying
with the requirements of Rule 15c2-12 promulgated by the Securities and Exchange
Commission under the Securities Exchange Act of 1934, as amended;
“Dated Date” shall mean February 19, 2014;
“Debt Service Fund” shall mean the Debt Service Fund of the District, which shall be
the “special redemption fund” as such term is defined in the Act;
“District” shall mean the Milwaukee Area Technical College District, Wisconsin;
“Fiscal Agent” shall mean the Treasurer of the District;
“Governing Body” shall mean the Board of the District, or such other body as may
hereafter be the chief legislative body of the District;
“Initial Resolution” shall mean the “Resolution Authorizing the Issuance of
$1,500,000.00 General Obligation Promissory Notes, Series 2013-14H of Milwaukee Area
Technical College District, Wisconsin”, adopted by the Governing Body on December 17,
2013;
“Note Registrar” means the Secretary of the District;
“Notes” shall mean the $1,500,000.00 General Obligation Promissory Notes, Series
2013-14H, of the District;
“Public Purposes” shall mean the public purpose of financing $1,500,000.00 of
building remodeling and improvement projects, consisting of projects included in the
District's 2013-2014 building remodeling and improvement program;
“Purchase Price” shall mean $1,532,626.50 ($1,500,000.00 par amount of Notes,
plus premium of $38,101.50, less underwriter's discount of $5,475.00);
“Record Date” shall mean the close of business on the fifteenth day of the calendar
month next preceding any principal or interest payment date;
“Securities Depository” means The Depository Trust Company, New York, New
York, or its nominee; and
2
“Underwriter” means Hutchinson, Shockey, Erley & Co.
Section 2. Authorization of the Notes. For the purpose of financing the Public
Purposes, there shall be borrowed on the full faith and credit of the District the sum of
$1,500,000.00; and fully registered general obligation promissory notes of the District are
authorized to be issued in evidence thereof.
Section 3. Sale of the Notes. To evidence such indebtedness, (i) the Chairperson
or the Vice Chairperson and (ii) the Secretary of the District are hereby authorized,
empowered and directed to make, execute, issue and sell to the Underwriter for, on behalf
of and in the name of the District, general obligation promissory notes in the aggregate
principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) for the
Purchase Price, plus accrued interest to the date of delivery.
Section 4. Terms of the Notes. The Notes shall be designated “General Obligation
Promissory Notes, Series 2013-14H”; shall be dated the Dated Date; shall be numbered
one and upward; shall bear interest as shown on the Maturity Schedule below; shall be
issued in denominations of $5,000 or any integral multiple thereof; and shall mature on the
dates and in the amounts as set forth below. Interest on the Notes shall accrue from the
Interest Accrual Date and shall be payable semi-annually on June 1 and December 1 of
each year, commencing on June 1, 2014.
MATURITY SCHEDULE
Maturity
Date
Principal
Amount
Interest
Rate
June 1, 2015
June 1, 2016
June 1, 2017
June 1, 2018
$350,000
$500,000
$500,000
$150,000
1.50%
1.50%
1.50%
2.00%
The Notes of this issue shall not be subject to call and payment prior to maturity.
Section 5. Form, Execution, Registration and Payment of the Notes. The Notes
shall be issued as registered obligations in substantially the form attached hereto as
Exhibit A and incorporated herein by this reference.
The Notes shall be executed in the name of the District by the manual signatures of
(i) the Chairperson or the Vice Chairperson and (ii) the Secretary, and may be sealed with
its official or corporate seal, if any.
The principal of, premium, if any, and interest on the Notes shall be paid by the
Fiscal Agent.
3
Both the principal of and interest on the Notes shall be payable in lawful money of
the United States of America by the Fiscal Agent. Payment of principal of the final maturity
on the Notes will be payable upon presentation and surrender of the Notes to the Fiscal
Agent. Payment of principal on the Notes (except the final maturity) and each installment of
interest shall be made to the registered owner of each Note who shall appear on the
registration books of the District, maintained by the Note Registrar, on the Record Date and
shall be paid by check or draft of the Fiscal Agent and mailed to such registered owner at
the address appearing on such registration books or at such other address may be
furnished in writing to such registered owner to the Note Registrar.
Section 6. Note Proceeds. The sale proceeds of the Notes (exclusive of accrued
interest, printing distribution and filing fees, and any premium received) shall, forthwith
upon receipt, be placed in and kept by the District Treasurer as a separate fund to be
known as the Promissory Notes, Series 2013-14H, Borrowed Money Fund (hereinafter
referred to as the “Borrowed Money Fund”). Moneys in the Borrowed Money Fund shall be
used solely for the purposes for which borrowed or for transfer to the Debt Service Fund as
provided by law.
Section 7. Tax Levy. In order to provide for the collection of a direct annual tax
sufficient in amount to pay and for the express purpose of paying the interest on the Notes
as it falls due and also to pay and discharge the principal thereof at maturity, there is
hereby levied upon all of the taxable property in the District, in addition to all other taxes, a
nonrepealable, direct, annual tax in an amount sufficient for that purpose. This tax shall be
from year to year carried into the tax roll of the District and collected in addition to all other
taxes and in the same manner and at the same time. Said tax is to be for the following
years and in the following minimum amounts:
Year of Levy
2013
2014
2015
2016
2017
Amount of Tax
$18,212.50
$370,625.00
$514,250.00
$506,750.00
$151,500.00
The District shall be and continue without power to repeal such levy or obstruct the
collection of said tax until all such payments have been made or provided for. After the
issuance of the Notes, said tax shall be carried into the tax rolls of the District and collected
as other taxes are collected, provided that the amount of tax carried into said tax rolls with
respect to the Notes may be reduced by the amount of any surplus money in the Debt
Service Fund created pursuant to Section 8 below.
If there shall be insufficient funds from the tax levy to pay the principal of or interest
on the Notes when due, the said principal or interest shall be paid from other funds of the
District on hand, said amounts to be returned when said taxes have been collected.
4
There be and there hereby is appropriated from taxes levied by the District in
anticipation of the issuance of the Notes and other funds of the District on hand a sum
sufficient to be deposited in the Debt Service Fund to meet payments with respect to debt
service due for the year 2014.
Section 8. Debt Service Fund. Within the debt service fund previously established
within the treasury of the District, there be and there hereby is established a separate and
distinct fund designated as the “Debt Service Fund for $1,500,000.00 General Obligation
Promissory Notes, Series 2013-14H, dated February 19, 2014” (the “Debt Service Fund”),
and such fund shall be maintained until the indebtedness evidenced by the Notes is fully
paid or otherwise extinguished. The District Treasurer shall deposit in such Debt Service
Fund (i) all accrued interest received by the District at the time of delivery of and payment
for the Notes; (ii) the taxes herein levied for the specific purpose of meeting principal of and
interest on the Notes when due; (iii) such other sums as may be necessary at any time to
pay principal of and interest on the Notes when due; (iv) any premium which may be
received by the District above the par value of the Notes and accrued interest thereon; (v)
surplus moneys in the Borrowed Money Fund for the Notes; and (vi) such further deposits
as may be required by Section 67.11 of the Wisconsin Statutes.
No money shall be withdrawn from the Debt Service Fund and appropriated for any
purpose other than the payment of principal of and interest on the Notes until all such
principal and interest has been paid in full and canceled; provided (i) the funds to provide
for each payment of principal of and interest on the Notes prior to the scheduled receipt of
taxes from the next succeeding tax collection may be invested in direct obligations of the
United States of America maturing in time to make such payments when they are due or in
other investments permitted by law; and (ii) any funds over and above the amount of such
principal and interest payments on the Notes may be used to reduce the next succeeding
tax levy, or may, at the option of the District, be invested by purchasing the Notes as
permitted by and subject to Section 67.11(2)(a) of the Wisconsin Statutes in interestbearing obligations of the United States of America, in other obligations of the District or in
other investments permitted by law, which investments shall continue as a part of the Debt
Service Fund.
When all of the Notes have been paid in full and canceled, and all permitted
investments disposed of, any money remaining in the Debt Service Fund shall be deposited
in the general fund of the District, unless the District Board directs otherwise.
Section 9. Deposits and Investments. The Debt Service Fund shall be kept apart
from moneys in the other funds and accounts of the District and the same shall be used for
no purpose other than the prompt payment of principal of and interest on the Notes as the
same becomes due and payable. All moneys therein shall be deposited in special and
segregated accounts in a public depository selected under Chapter 34 of the Wisconsin
Statutes and may be temporarily invested until needed in legal investments subject to the
provisions of Sections 66.0603(1m) and 67.10(3) of the Wisconsin Statutes. All income
derived from such investments shall be regarded as revenues of the District. No such
5
investment shall be in such a manner as would cause the Notes to be “arbitrage bonds”
within the meaning of Section 148 of the Code or the Regulations of the Commissioner of
Internal Revenue thereunder.
The District Treasurer shall, on the basis of the facts, estimates and circumstances
in existence on the date of closing, make such certifications as are necessary to permit the
conclusion that the Notes are not “arbitrage bonds” under Section 148 of the Code or the
Regulations of the Commissioner of Internal Revenue thereunder.
Section 10. Sale of Notes. The terms, conditions and provisions of the Notes and
the Note Documents are, in all respects, authorized and approved. The form of the Note
Purchase Agreement is hereby approved. The Notes shall be sold and delivered in the
manner, at the Purchase Price, plus interest accrued from the Interest Accrual Date to the
closing date, pursuant to the terms and conditions set forth in the Note Purchase
Agreement.
The preparation of the Preliminary Official Statement and the Final Official
Statement dated February 4, 2014, and their use as contemplated in the Note Purchase
Agreement, are hereby approved. The Preliminary Official Statement is “deemed final” as
of its date, except for omissions or subsequent modifications permitted under Rule 15c2-12
of the Securities and Exchange Commission. The Chairperson, the Vice Chairperson and
Secretary of the District are authorized and directed to do any and all acts necessary to
conclude delivery of the Notes to the Underwriter, as soon after adoption of this Resolution
as is convenient.
Section 11. Book-Entry Only Notes. The Notes shall be transferable as follows:
(a)
Each maturity of Notes will be issued as a single Note in the name of the
Securities Depository, or its nominee, which will act as depository for the Notes. During the
term of the Notes, ownership and subsequent transfers of ownership will be reflected by
book entry on the records of the Securities Depository and those financial institutions for
whom the Securities Depository effects book entry transfers (collectively, the “Participants”).
No person for whom a Participant has an interest in Notes (a “Beneficial Owner”) shall
receive bond certificates representing their respective interest in the Notes except in the
event that the Securities Depository or the District shall determine, at its option, to terminate
the book-entry system described in this Section. Payment of principal of, and interest on,
the Notes will be made by the Fiscal Agent to the Securities Depository which will in turn
remit such payment of principal and interest to its Participants which will in turn remit such
principal and interest to the Beneficial Owners of the Notes until and unless the Securities
Depository or the District elect to terminate the book entry system, whereupon the District
shall deliver bond certificates to the Beneficial Owners of the Notes or their nominees.
Note certificates issued under this Section may not be transferred or exchanged except as
provided in this Section.
(b)
Upon the reduction of the principal amount of any maturity of Notes, the
6
Registered Noteowner may make a notation of such redemption on the panel of the Note,
stating the amount so redeemed, or may return the Note to the District for exchange for a
new Note in a proper principal amount. Such notation, if made by the Noteowner, may be
made for reference only, and may not be relied upon by any other person as being in any
way determinative of the principal amount of such Note Outstanding, unless the Note
Registrar initialed the notation on the panel.
(c)
Immediately upon delivery of the Notes to the purchasers thereof on the
delivery date, such purchasers shall deposit the bond certificates representing all of the
Notes with the Securities Depository. The Securities Depository, or its nominee, will be the
sole Noteowner of the Notes, and no investor or other party purchasing, selling or
otherwise transferring ownership of any Notes will receive, hold or deliver any bond
certificates as long as the Securities Depository holds the Notes immobilized from
circulation.
(d)
The Notes may not be transferred or exchanged except:
(1)
To any successor of the Securities Depository (or its nominee) or any
substitute depository (“Substitute Depository”) designated pursuant to (ii) below,
provided that any successor of the Securities Depository or any Substitute
Depository must be a qualified and registered “clearing agency” as provided in
Section 17A of the Securities Exchange Act of 1934, as amended;
(2)
To a Substitute Depository designated by or acceptable to the District
upon (a) the determination by the Securities Depository that the Notes shall no
longer be eligible for depository services or (b) a determination by the District that
the Securities Depository is no longer able to carry out its functions, provided that
any such Substitute Depository must be qualified to act as such, as provided in
subparagraph (1) above; or
(3)
To those persons to whom transfer is requested in written transfer
instructions in the event that:
(i)
The Securities Depository shall resign or discontinue its
services for the Notes and, only if the District is unable to locate a qualified
successor within two months following the resignation or determination of
noneligibility, or
(ii)
Upon a determination by the District that the continuation of the
book entry system described herein, which precludes the issuance of
certificates to any Noteowner other than the Securities Depository (or its
nominee) is no longer in the best interest of the Beneficial Owners of the
Notes.
(e)
The Depository Trust Company, New York, New York, is hereby appointed
7
the Securities Depository for the Notes.
Section 12. Undertaking to Provide Continuing Disclosure. The (i) Chairperson or
the Vice Chairperson and (ii) Secretary of the District are hereby authorized and directed to
execute on behalf of the District, the Continuing Disclosure Agreement in connection with
the Notes for the purpose of complying with the requirements of Rule 15c2-12 promulgated
by the Securities and Exchange Commission under the Securities Exchange Act of 1934,
as amended.
Section 13. Compliance with Federal Tax Laws.
(a)
The District represents and covenants that the project financed by the Notes
and their ownership, management and use will not cause the Notes to be “private activity
bonds” within the meaning of Section 141 of the Code, and the District shall comply with the
provisions of the Code to the extent necessary to maintain the tax-exempt status of the
interest on the Notes.
(b)
The District also covenants to use its best efforts to meet the requirements
and restrictions of any different or additional federal legislation which may be made
applicable to the Notes, provided that in meeting such requirements the District will do so
only to the extent consistent with the proceedings authorizing the Notes and the laws of
Wisconsin, and to the extent there is a reasonable period of time in which to comply.
Section 14. Rebate Fund. If necessary, the District shall establish and maintain, so
long as the Notes are outstanding, a separate account to be known as the “Rebate Fund”
for the purpose of complying with the rebate requirements of Section 148(f) of the Code.
The Rebate Fund is for the sole purpose of paying rebate to the United States of America, if
any, on amounts of bond proceeds held by the District. The District hereby covenants and
agrees that it shall pay from the Rebate Fund the rebate amounts as determined herein to
the United States of America.
The District may engage the services of accountants, attorneys, or other consultants
necessary to assist it in determining rebate amounts. Amounts held in the Rebate Fund
and the investment income therefrom are not pledged as security for the Notes and may
only be used to pay amounts to the United States. The District shall maintain or cause to
be maintained records of such determinations until six (6) years after payment in full of the
Notes and shall make such records available upon reasonable request therefor.
Section 15. Defeasance. When all Notes have been discharged, all pledges,
covenants and other rights granted to the owners thereof by this Resolution shall cease.
The District may discharge all Notes due on any date by irrevocably depositing in escrow
with a suitable bank or trust company a sum of cash and/or bonds or securities issued or
guaranteed as to principal and interest of the U.S. Government, or of a commission, board
or other instrumentality of the U.S. Government (“Government Obligations”), or of securities
wholly and irrevocably secured as to principal and interest by Government Obligations and
8
rated in the highest rating category of a nationally recognized rating service, maturing on
the dates and bearing interest at the rates required to provide funds sufficient to pay when
due the interest to accrue on each of said Note to its maturity or, at the District's option, if
said Note is prepayable to any prior date upon which it may be called for redemption, and
to pay and redeem the principal amount of each such Note at maturity, or at the District's
option, if said Note is prepayable, at its earliest redemption date, with the premium required
for such redemption, if any, provided that notice of the redemption of all prepayable Notes
on such date has been duly given or provided for.
Section 16. Resolution a Contract. The provisions of this Resolution shall constitute
a contract between the District and the owner or owners of the Notes, and after issuance of
any of the Notes no change or alteration of any kind in the provisions of this Resolution
may be made, except as provided in Section 18, until all of the Notes have been paid in full
as to both principal and interest. The owner or owners of any of the Notes shall have the
right in addition to all other rights, by mandamus or other suit or action in any court of
competent jurisdiction, to enforce such owner's or owners' rights against the District, the
Governing Body thereof, and any and all officers and agents thereof including, but without
limitation, the right to require the District, its Governing Body and any other authorized
body, to fix and collect rates and charges fully adequate to carry out all of the provisions
and agreements contained in this Resolution.
Section 17. General Authorizations. The Chairperson, the Vice Chairperson and
the Secretary of the District and the appropriate deputies and officials of the District in
accordance with their assigned responsibilities are hereby each authorized to execute,
deliver, publish, file and record such other documents, instruments, notices and records
and to take such other actions as shall be necessary or desirable to accomplish the
purposes of this Resolution and to comply with and perform the obligations of the District
under the Notes. The execution or written approval of any document by the Chairperson,
the Vice Chairperson or Secretary of the District herein authorized shall be conclusive
evidence of the approval by the District of such document in accordance with the terms
hereof.
In the event that said officers shall be unable by reason of death, disability, absence
or vacancy of office to perform in timely fashion any of the duties specified herein (such as
the execution of Notes), such duties shall be performed by the officer or official succeeding
to such duties in accordance with law and the rules of the District.
Any actions taken by the Chairperson, the Vice Chairperson and Secretary
consistent with this Resolution are hereby ratified and confirmed.
Section 18. Amendment to Resolution. After the issuance of any of the Notes, no
change or alteration of any kind in the provisions of this Resolution may be made until all of
the Notes have been paid in full as to both principal and interest, or discharged as herein
provided, except: (a) the District may, from to time, amend this Resolution without the
9
consent of any of the owners of the Notes, but only to cure any ambiguity, administrative
conflict, formal defect, or omission or procedural inconsistency of this Resolution; and (b)
this Resolution may be amended, in any respect, with a written consent of the owners of not
less than two-thirds (2/3) of the principal amount of the Notes then outstanding; provided,
however, that no amendment shall permit any change in the pledge of tax revenues of the
District or the maturity of any Note issued hereunder, or a reduction in the rate of interest
on any Note, or in the amount of the principal obligation thereof, or in the amount of the
redemption premium payable in the case of redemption thereof, or change the terms upon
which the Notes may be redeemed or make any other modification in the terms of the
payment of such principal or interest without the written consent of the owner of each such
Note to which the change is applicable.
Section 19. Illegal or Invalid Provisions. In case any one or more of the provisions
of this Resolution or any of the Notes shall for any reason be held to be illegal or invalid,
such illegality or invalidity shall not affect any other provision of this Resolution or of the
Notes.
Section 20. Conflicting Resolutions. All ordinances, resolutions, or orders, or parts
thereof heretofore enacted, adopted or entered, in conflict with the provisions of this
Resolution, are hereby repealed and this Resolution shall be in effect from and after its
passage.
[SIGNATURE PAGE TO FOLLOW]
10
Adopted: February 4, 2014.
Bobbie Webber
Chairperson of the District
Attest:
Lauren Baker
Secretary of the District
Recorded on February 4, 2014.
Lauren Baker
Secretary of the District
[Signature Page of Sale Resolution]
$1,500,000.00 Milwaukee Area Technical College District, Wisconsin
General Obligation Promissory Notes, Series 2013-14H
EXHIBIT A
UNITED STATES OF AMERICA
STATE OF WISCONSIN
MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT
GENERAL OBLIGATION PROMISSORY NOTE, SERIES 2013-14H
Number
Interest
Rate
Maturity Date
Dated Date
Principal
Amount
R-___
____%
June 1, 20__
_______, 2014
$_____
CUSIP
FOR VALUE RECEIVED, Milwaukee Area Technical College District, Wisconsin,
promises to pay to CEDE & CO., or registered assigns, the principal sum of
___________________ ($_________) on the maturity date specified above, together with
interest thereon from February 19, 2014 or the most recent payment date to which interest
has been paid, unless the date of registration of this Note is after the 15th day of the
calendar month immediately preceding an interest payment date, in which case interest will
be paid from such interest payment date, at the rate per annum specified above, such
interest being payable on June 1 and December 1 of each year, with the first interest on
this issue being payable on June 1, 2014.
The Notes of this issue shall not be subject to call and payment prior to maturity.
Both principal hereof and interest hereon are hereby made payable to the registered
owner in lawful money of the United States of America, and for the prompt payment of this
Note with interest thereon as aforesaid, and the levying and collection of taxes sufficient for
that purpose, the full faith, credit and resources of the District are hereby irrevocably
pledged. The principal of this Note shall be payable only upon presentation and surrender
of this Note to the District Treasurer at the principal office of the District. Interest hereon
shall be payable by check or draft dated as of the applicable interest payment date and
mailed from the office of the District Treasurer to the person in whose name this Note is
registered at the close of business on the fifteenth day of the calendar month next
preceding each interest payment date.
This Note is transferable only upon the books of the District kept for that purpose by
the District Secretary at the principal office of the District, by the registered owner in person
or his duly authorized attorney, upon surrender of this Note together with a written
instrument of transfer (which may be endorsed hereon) satisfactory to the District Secretary
duly executed by the registered owner or his duly authorized attorney. Thereupon a new
A-1
Note or Notes of the same aggregate principal amount, series and maturity shall be issued
to the transferee in exchange therefor. The District may deem and treat the person in
whose name this Note is registered as the absolute owner hereof for the purpose of
receiving payment of or on account of the principal or interest hereof and for all other
purposes. The Notes are issuable solely as negotiable, fully registered Notes without
coupons in authorized denominations of $5,000 or any whole multiple thereof.
This Note is one of an issue aggregating $1,500,000.00 issued pursuant to the
provisions of Section 67.12(12) of the Wisconsin Statutes, for the public purpose of
financing $1,500,000.00 building remodeling and improvement projects, consisting of
projects included in the District's 2013-2014 building remodeling and improvement program
(the public purpose projects described above are hereafter referred to as the “Public
Purposes”) and is authorized by a resolution of the District Board of the District, duly
adopted by said District Board at its meeting duly convened on February 4, 2014, which
resolution is recorded in the official book of its minutes for said date.
It is hereby certified and recited that all conditions, things and acts required by law to
exist or to be done prior to and in connection with the issuance of this Note have been
done, have existed and have been performed in due form and time; that the aggregate
indebtedness of the District, including this Note and others authorized simultaneously
herewith, does not exceed any limitations imposed by law or the Constitution of the State of
Wisconsin; and that the District has levied a direct, annual irrepealable tax sufficient to pay
this Note, together with interest thereon when and as payable.
No delay or omission on the part of the owner hereof to exercise any right hereunder
shall impair such right or be considered as a waiver thereof or as a waiver of or
acquiescence in any default hereunder.
A-2
IN WITNESS WHEREOF, the District Board of Milwaukee Area Technical College
District, Wisconsin, has caused this Note to be signed on behalf of said District by its duly
qualified and acting Chairperson and Secretary, and its corporate seal to be impressed
hereon, all as of the date of original issue specified above.
MILWAUKEE AREA TECHNICAL
COLLEGE DISTRICT, WISCONSIN
By:
Bobbie Webber
Chairperson of the District
Attest:
Lauren Baker
Secretary of the District
A-3
(Form of Assignment)
FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto
(Please print or typewrite name and address,
including zip code, of Assignee)
(Please print or typewrite Social Security or
other identifying number of Assignee)
the within Note and all rights thereunder, hereby irrevocably constituting and appointing
(Please print or type name of Attorney)
Attorney to transfer said Note on the books kept for the registration thereof with full power of
substitution in the premises.
Dated:
NOTICE: The signature to this assignment must
correspond with the name as it appears upon the
face of the within Note in every particular without
alteration or enlargement or any change whatever.
Signature(s) guaranteed by:
A-4
Milwaukee Area Technical College District
Final Pricing Summary
February 4, 2014
John A. Mehan, Managing Director
jmehan@rwbaird.com
777 East Wisconsin Avenue
Milwaukee, WI 53202
Phone 414.765.3827
rwbaird.com/publicfinance
Milwaukee Area Technical College District
Issue Summary
Description:
Amount:
Dated & Settlement Date:
Maturities:
First Interest Payment:
First Call Date:
Moody's Rating:
True Interest Cost:
Winning Bidder/Purchaser:
General Obligation Promissory Notes, Series 2013-14H
$1,500,000
February 19, 2014
June 1, 2015 - 2018
June 1, 2014
Noncallable
Aa2
0.7301%
Hutchinson, Shockey, Erley & Co.
Page 2
Milwaukee Area Technical College District
Results of Competitive Bids
$1,500,000 General Obligation Promissory Notes, Series 2013-14H
Bids Received by 9:30 AM (CT)
Tuesday, February 4, 2014
Rank
1
2
3
4
5
6
7
Bidder
Hutchinson, Shockey, Erley & Co.
Vining-Sparks IBG, Limited Partnership
BOSC, Inc.
Fidelity Capital Markets
Piper Jaffray & Company
Bernardi Securities, Inc.
FirstMerit Bank
True
Interest
Cost
0.7301%
0.8107%
0.8126%
0.8536%
0.9528%
1.0350%
1.4500%
Page 3
Milwaukee Area Technical College District
2013-14 Financing Plan -- Calendar Year Basis
EQUIPMENT & REMODELING BORROWINGS
CALENDAR
YEAR
NET
EXISTING
DEBT
PAYMENTS
incl. 2012 OPEB
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
2026
2027
2028
2029
2030
2031
2032
FINAL
FINAL
FINAL
FINAL
FINAL
FINAL
FINAL
FINAL
PRELIMINARY
PRELIMINARY
PRELIMINARY
PRELIMINARY
$1,500,000
SERIES
2013-14A
Dated 7/15/13
$1,500,000
SERIES
2013-14B
Dated 8/8/13
$19,500,000
SERIES
2013-14C
Dated 9/16/13
$1,500,000
SERIES
2013-14D
Dated 10/15/13
$1,500,000
SERIES
2013-14E
Dated 11/14/13
$1,500,000
SERIES
2013-14F
Dated 12/12/13
$1,500,000
SERIES
2013-14G
Dated 1/15/14
$1,500,000
SERIES
2013-14H
Dated 2/19/14
$1,500,000
SERIES
2013-14I
Dated 3/13/14
$1,500,000
SERIES
2013-14J
Dated 4/15/14
$1,500,000
SERIES
2013-14K
Dated 5/1/14
$1,500,000
SERIES
2013-14L
Dated 6/12/14
Noncallable
Noncallable
Noncallable
Noncallable
Noncallable
Noncallable
Noncallable
Noncallable
Noncallable
Noncallable
Noncallable
Noncallable
Average:
2.18%
Average:
2.00%
Average:
2.00%
Average:
2.00%
Average:
2.00%
Average:
1.88%
Average:
1.64%
Average:
1.58%
Average:
4.00%
Average:
4.00%
Average:
4.00%
Average:
4.00%
$38,761,327
$33,447,656
$27,226,222
$17,134,431
$6,068,875
$642,669
$653,556
$663,994
$673,981
$683,163
$695,963
$702,313
$712,260
$720,665
$727,453
$737,464
$740,620
$747,005
$756,538
$759,155
$12,089
$32,000
$378,500
$520,000
$509,375
$151,875
$9,417
$30,000
$376,500
$518,000
$508,000
$151,500
$81,250
$5,439,000
$3,639,150
$3,710,050
$3,783,100
$3,858,200
$3,833
$30,000
$376,500
$518,000
$508,000
$151,500
$31,417
$376,500
$518,000
$508,000
$151,500
$25,690
$374,750
$518,000
$508,000
$151,500
$21,944
$371,500
$514,250
$506,750
$151,500
$18,213
$370,625
$514,250
$506,750
$151,500
$43,000
$403,000
$536,000
$516,000
$153,000
$37,667
$403,000
$536,000
$516,000
$153,000
$35,000
$403,000
$536,000
$516,000
$153,000
$28,167
$403,000
$536,000
$516,000
$153,000
$133,255,307
$1,603,839
$1,593,417
$20,510,750
$1,587,833
$1,585,417
$1,577,940
$1,565,944
$1,561,338
$1,651,000
$1,645,667
$1,643,000
$1,636,167
FUTURE
DEBT
PAYMENTS
Actual 2012 Levy:
$42,357,783
Actual 2013 Levy:
$40,004,901
NET
COMBINED
DEBT
PAYMENTS
TOTAL
DEBT
MILL
RATE
(a)
(b)
$0
$237,667
$5,100,967
$13,727,967
$25,010,467
$34,432,567
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$39,955,867
$38,867,916
$39,457,420
$40,203,214
$40,336,948
$40,481,317
$40,606,310
$40,609,423
$40,619,860
$40,629,848
$40,639,029
$40,651,829
$40,658,179
$40,668,127
$40,676,532
$40,683,319
$40,693,330
$40,696,487
$40,702,872
$40,712,404
$40,715,022
$637,891,767
$809,309,385
$0.61821
$0.59267
$0.59561
$0.59759
$0.59973
$0.60158
$0.60163
$0.60178
$0.60193
$0.60207
$0.60226
$0.60235
$0.60250
$0.60262
$0.60272
$0.60287
$0.60292
$0.60301
$0.60315
$0.60319
1587833.333
(a) Future borrowing assumptions:
Equipment Borrowing of $18,000,000 per year.
Remodeling Borrowings of $18,000,000 per year.
(b) Mill rate based on 2013 Equalized Valuation (TID OUT) of $67,499,263,273 with no annual growth.
*This information is provided for information purposes only. It does not recommend any future issuances and is not intended to be, and should not be regarded as, advice. Rates are subject to change.
Page 4
U.S. LOCAL GOVERNMENT GENERAL OBLIGATION SCORECARD
Issuer Name: Milwaukee Area TCD
Org ID:
Very Strong
0.50 - 1.49
Aaa
Strong
1.50 - 2.49
Aa
Moderate
2.50 - 3.49
A
Weak
3.50 - 4.49
Baa
Poor
4.50 - 5.49
Ba
Very Poor
5.50 - 6.50
B & Below
Input
Weight
Score
> $12B
$12B ≥ n > $1.4B
$1.4B ≥ n > $240M
$240M ≥ n > $120M
$120M ≥ n > $60M
≤ $60M
$70,217,000
10%
0.50
> $150,000
$150,000 ≥ n > $65,000
$65,000 ≥ n > $35,000
$35,000 ≥ n > $20,000
$20,000 ≥ n > $10,000
≤ $10,000
$66,191
10%
2.49
> 150% of US median
150% to 90% of US median
90% to 75% of US median
75% to 50% of US median
50% to 40% of US median
≤ 40% of US median
86.60%
10%
2.73
> 30.0%
> 25.0% for School Districts
30.0% ≥ n > 15.0%
25.0% ≥ n > 10.0% for SD
15.0% ≥ n > 5.0%
10.0% ≥ n > 2.5% for SD
5.0% ≥ n > 0.0%
2.5% ≥ n > 0.0% for SD
0.0% ≥ n > -2.5%
0.0% ≥ n > -2.5% for SD
≤ -2.5%
≤ -2.5% for SD
16.10%
10%
2.09
> 25.0%
25.0% ≥ n > 10.0%
10.0% ≥ n > 0.0%
0.0% ≥ n > -10.0%
-10.0% ≥ n > -18.0%
≤ -18.0%
3.30%
5%
3.17
> 25.0%
> 10.0% for School Districts
25.0% ≥ n > 10.0%
10.0% ≥ n > 5.0% for SD
10.0% ≥ n > 5.0%
5.0% ≥ n > 2.5% for SD
5.0% ≥ n > 0.0%
2.5% ≥ n > 0.0% for SD
0.0% ≥ n > -2.5%
0.0% ≥ n > -2.5% for SD
≤ -2.5%
≤ -2.5% for SD
18.70%
10%
0.63
> 25.0%
25.0% ≥ n > 10.0%
10.0% ≥ n > 0.0%
0.0% ≥ n > -10.0%
-10.0% ≥ n > -18.0%
≤ -18.0%
-5.90%
5%
4.09
Very strong legal ability to match
resources with spending
Strong legal ability to match
resources with spending
Moderate legal ability to match
resources with spending
Limited legal ability to match
resources with spending
Poor legal ability to match
resources with spending
Very poor or no legal ability to
match resources with spending
Aa
10%
2.00
> 1.05x
1.05x ≥ n > 1.02x
1.02x ≥ n > 0.98x
0.98x ≥ n > 0.95x
0.95x ≥ n > 0.92x
≤ 0.92x
1.00x
10%
3.00
Net Direct Debt / Full Value
< 0.75%
0.75% ≤ n < 1.75%
1.75% ≤ n < 4.00%
4.00% ≤ n < 10.00%
10.00% ≤ n < 15.00%
> 15.00%
0.20%
5%
0.77
Net Direct Debt / Operating Revenues
< 0.33x
0.33x ≤ n < 0.67x
0.67x ≤ n < 3.00x
3.00x ≤ n < 5.00x
5.00x ≤ n < 7.00x
> 7.00x
0.56x
5%
2.18
3-Year Average of Moody's Adjusted
Net Pension Liability / Full Value
< 0.90%
0.90% ≤ n < 2.10%
2.10% ≤ n < 4.80%
4.80% ≤ n < 12.00%
12.00% ≤ n < 18.00%
> 18.00%
0.43%
5%
0.98
3-Year Average of Moody's Adjusted
Net Pension Liability / Operating
Revenues
< 0.40x
0.40x ≤ n < 0.80x
0.80x ≤ n < 3.60x
3.60x ≤ n < 6.00x
6.00x ≤ n < 8.40x
> 8.40x
1.39x
5%
2.71
Enter Sector Below
School District
ECONOMY/TAX BASE (30%)
Tax Base Size: Full Value (in 000s)
Full Value Per Capita
Socioeconomic Indices: MFI
FINANCES (30%)
Fund Balance as % of Revenues
5-Year Dollar Change in Fund Balance
as % of Revenues
Cash Balance as % of Revenues
5-Year Dollar Change in Cash Balance
as % of Revenues
MANAGEMENT (20%)
Institutional Framework
Operating History: 5-Year Average of
Operating Revenues / Operating
Expenditures
DEBT/PENSIONS (20%)
Total Score
Unadjusted Rating
2.04
Aa2
Page 5
New Issue: Moody's downgrades Milwaukee Area Technical College District, WI's
GO to Aa2 from Aa1; outlook stable
Global Credit Research - 24 Jan 2014
Assigns Aa2 to $1.5M GO Notes Ser. 2013-14H
MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT, WI
Community College Districts (Tax-backed)
WI
Moody's Rating
ISSUE
General Obligation Promissory Notes, Series 2013-14H
Sale Amount
$1,500,000
Expected Sale Date
01/28/14
Rating Description
General Obligation
RATING
Aa2
Moody's Outlook STA
Opinion
NEW YORK, January 24, 2014 --Moody's Investors Service has downgraded Milwaukee Area Technical College
District, WI's general obligation rating to Aa2 from Aa1. Concurrently, Moody's has assigned a Aa2 rating to the
district's $1.5 million General Obligation Promissory Notes, Series 2013-14H. Debt service on the notes is
secured by the district's general obligation unlimited tax pledge. Proceeds of the notes will finance building
remodeling and improvement projects. Post-sale, the district will have $118.4 million of outstanding general
obligation debt. The district's outlook is stable.
SUMMARY RATINGS RATIONALE
The Aa2 rating reflects the district's large and diverse tax base encompassing the greater Milwaukee (GO rated
Aa2/rating under review - down) region; multi-year tax base declines; operating reserves that have declined in
recent years but are expected to remain adequate following additional planned draw downs; a low debt burden and
manageable unfunded pension liability; and a sizeable unfunded liability related to the district's other postemployment benefit (OPEB).
The stable outlook reflects our expectation that district management will continue to maintain sound financial
operations through proactive management of expenditures, which is critical given the district's limited revenue
raising flexibility and trend of enrollment declines. The outlook also reflects the district's sizeable and diverse tax
base.
STRENGTHS
- Large and diversifying tax base with favorable location within regional Milwaukee economy
- Manageable debt burden and unfunded pension liability
CHALLENGES
- Multi-year tax base declines
- Recent and planned draw downs of General Fund reserves
- Limited revenue raising power due to state authority over tuition setting and strict levy limits
Page 6
- Declining enrollment
- Sizeable unfunded OPEB liability
DETAILED CREDIT DISCUSSION
LARGE AND DIVERSE TAX BASE COVERS METROPOLITAN MILWAUKEE
The district's economy is expected to remain relatively stable, despite recent valuation declines, due to the
diversity among the manufacturing, governmental, and healthcare sectors within the district's boundaries. The
district, which is one of the largest in Wisconsin's (Aa2/stable outlook) technical college system, provides
vocational education to residents of Milwaukee County (Aa2/stable outlook), the majority of Ozaukee County
(Aaa) and small portions of several other surrounding suburban counties. The City of Milwaukee comprises nearly
40% of the district's equalized valuation and 56% of the district's population, and is Wisconsin's most populous
urban center and economic hub.
While the district's very large $70.2 billion tax base experienced solid rates of growth through 2007, it has since
declined by an average of 3.2% annually. The regional economy exhibits some manufacturing concentration as the
sector represents approximately 15% of area employment, above the 9% national average; however, employment
continues to diversify with a strong presence in health care, finance, and government. At 7.7% in November 2013,
the unemployment rate in Milwaukee County was higher than the state (5.8%) and national rates (6.6%) for the
same time period.
Enrollment, which directly impacts tuition and program fees, grew by 7% in fiscal 2009 and 9% in fiscal 2010, due
to increased demand for education during the economic downturn. In fiscal 2011, this trend reversed and
enrollment has since declined annually. Declines of 0.5% in fiscal 2011, 3.2% in fiscal 2012 and 6.0% in fiscal
2013 brought enrollment to approximately 13,200 full time equivalent (FTE) students. The declines in fiscals 2012
and 2013 were greater than what management had anticipated. Going forward, management estimates fiscal 2014
enrollment will decline 1.2% to 13,000 but grow 2.3% to 13,300 in fiscal 2015 due to the expansion of its health
services program. Management reports that discussions are taking place to further adjust or expand program
offerings to boost enrollment. Enrollment is directly linked to multiple major revenue sources of Wisconsin
technical colleges and continued declines may pressure the district's budget.
FINANCIAL OPERATIONS CHALLENGED BY REVENUE DECLINES WITHOUT OFFSETTING
EXPENDITURE CUTS; RESERVES TO DECLINE BUT REMAIN ADEQUATE
While draws on reserves in fiscals 2012 and 2013 and an additional sizeable draw projected for fiscal 2014 will
narrow the district's reserves, the district's financial profile should remain adequate due to the implementation of
sizeable reductions in personnel costs for fiscal 2015 to promote operational balance. Recent draws on reserves
have been driven by enrollment declines, state aid cuts and drops in property tax revenues for general operations.
Over the last three years, total General Fund revenues have declined by 10.2% while expenditures have declined
just 3.3%. While technical colleges tend to have strong flexibility to adjust staffing and program costs in light of
enrollment declines, notably this district's instructional expenditures have declined just 1.4% over the last three
years, a period in which enrollment has dropped by 10%.
For fiscal 2013, management budgeted for an $11 million use of fund balance, but realized a smaller but still
significant $6.0 million use of fund balance. This operating deficit brought General Fund balance to $34.4 million, or
a still satisfactory 19.7% of revenues. For fiscal 2014, the district budgeted for a $13.8 million draw on fund
balance. Year to date results suggest that a $12 million to $13 million draw will occur. Such a draw would reduce
the General Fund balance to between 12.5% and 13% of 2014 budgeted revenues. While district reserves
currently remain adequate, they are narrow relative to the district's state and national peers at comparable rating
levels.
For fiscal 2015, a sizeable $15 million of personnel-related cost reductions have been incorporated into union
contracts and approved by the board. Management currently expects deficit spending of between $500,000 and
$1.5 million in fiscal 2015 and notes a commitment to maintaining reserves at a minimum of 10% of revenues, in
compliance with the district's official reserve policy.
The district's General Fund unrestricted cash was $39.8 million, or an adequate 22.7% of revenues, at the end of
fiscal 2013. The General Fund holds cash on behalf of the district's enterprise funds, consisting of the Television
Operations, Food Services, Bookstores, and Childcare Funds. Net of the $12.8 million due to these funds at the
end of fiscal 2013, the district's cash available for general operations was $27.0 million, or a somewhat narrow
Page 7
15.4% of revenues.
The General Fund's three primary revenue sources are property taxes, tuition, and state aid, which comprise
approximately 60%, 25%, and 10% of General Fund revenues, respectively. All of these revenue streams are
constrained by state statute, with the state dictating tuition rates, aid distributions, and setting levy limits.
Historically, Wisconsin technical colleges were authorized to levy up to a maximum of 1.5 mills and the district
levied the maximum millage in fiscals 2008 through 2013. Starting in fiscal 2014, the operating millage cap no
longer applies, and the district's operating levy can be raised to capture net new construction only.
MODEST DIRECT DEBT BURDEN; LARGE UNFUNDED OPEB LIABILITY
The district's future borrowing needs are expected to remain manageable given aggressive principal retirement
and the district's sizeable tax base. The district's 5.2% overall debt burden is above average and reflects
significant borrowing of overlapping governmental entities, namely the Milwaukee Metropolitan Sewer District
(Aaa/rating under review - down) and Milwaukee County. The district's direct debt is a more modest 0.2% of full
value. Principal is amortized at a rapid 94% in ten years and the district's future borrowing needs are not expected
to increase the debt burden substantially. For fiscal 2014, management anticipates issuing an additional $6.0
million of debt. All of the district's debt is fixed rate and the district is not party to any interest rate swap
agreements.
The district has a slightly above average defined-benefit pension burden, based on unfunded liabilities for its share
of the Wisconsin Retirement System, a cost-sharing plan administered by the state. The district's contribution to
WRS in fiscal 2011 totaled $6.6 million, which represented the entire required employer share of contributions and
a manageable 3% of operating revenues. The district has historically made its required contributions to WRS.
Moody's adjusted net pension liability (ANPL) for the district, under our methodology for adjusting reported pension
data, was $308.2 million for fiscal 2011, or 1.39 times operating revenues, inclusive of the General Fund and Debt
Service Fund. This compares to approximately 1.0 times on average for rated local governments. Moody's ANPL
reflects certain adjustments we make to improve comparability of reported pension liabilities. The adjustments are
not intended replace the district's reported contribution information, but to improve comparability with other rated
entities. We determined the district's share of liability for WRS in proportion to its contributions to the plan and
covered payroll.
The district offers a generous OPEB plan to qualifying retirees, including offering health insurance those who
would otherwise qualify for Medicare. The district has funded an OPEB Trust since 2008 and it contains $21.1
million to date; however, its unfunded OPEB liability remains substantial. As of July 1, 2013, the benefit had an
unfunded actuarially accrued liability (UAAL) of $260.1 million, or 216% of covered payroll. Officials note that
changes to the OPEB plan are possible in the mid-term.
OUTLOOK
The stable outlook reflects our expectation that district management will continue to maintain sound financial
operations through proactive management of expenditures, which is critical given the district's limited revenue
raising flexibility and trend of enrollment declines. The outlook also reflects the district's sizeable and diversifying
tax base.
WHAT COULD CHANGE THE RATING UP
- Significantly improved regional population and employment trends and socioeconomic indicators, such as
resident income levels
- Sustained trend of tax base growth
- Audited results showing stabilization of operations
WHAT COULD CHANGE THE RATING DOWN
- Weakened socioeconomic indicators
- Declining enrollment trends that would further limit revenue growth
- Deterioration of reserves beyond levels currently contemplated
KEY STATISTICS:
Page 8
Milwaukee County 2010 census population: 947,735 (0.8% increase since 2000)
2013 Full-time equivalent student enrollment: 13,200 (0.9% average annual increase since 2008)
2013 Full value: $70.2 billion (3.2% average annual decline since 2008)
2013 Estimated full value per capita: $66,198
Milwaukee County unemployment rate (November 2013): 7.7%
Milwaukee County median family income: 86.6%
Net direct debt burden: 0.2% of full value; 0.56 times operating revenues
Principal Amortization (10 years): 94%
Fiscal 2013 General Fund balance: $34.5 million (19.7% of General Fund revenues)
Fiscal 2013 General Fund cash, net of cash held for other funds: $27.0 million (15.4% of revenues)
Fiscal 2013 available operating fund balance: $34.4M (16.1% of operating revenues)
Five year change in available operating fund balance: 3.3% of operating revenues
Fiscal 2013 unrestricted net operating cash: $40.0 million (18.7% of operating revenues)
Five year change in unrestricted net operating cash: -5.9% of operating revenues
Post-sale long term general obligation debt: $118.4 million
Moody's Adjusted Net Pension Liability (2011): 1.39 times operating revenues; 0.43% of full value
PRINCIPAL METHODOLOGY
The principal methodology used in this rating was US Local Government General Obligation Debt published in
January 2014. Please see the Credit Policy page on www.moodys.com for a copy of this methodology.
REGULATORY DISCLOSURES
For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatory
disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class
of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance
with Moody's rating practices. For ratings issued on a support provider, this announcement provides certain
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Attachment FPO - 7
RESOLUTION AUTHORIZING THE ISSUANCE OF $1,500,000.00
GENERAL OBLIGATION PROMISSORY NOTES, SERIES 2013-14I
OF MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT, WISCONSIN
Resolution F0022-01-14
WHEREAS, Milwaukee Area Technical College District (the "District") is presently
in need of $1,500,000.00 for the public purpose of financing building remodeling and
improvement projects, consisting of projects included in the District's 2013-2014 building
remodeling and improvement program; and
WHEREAS, it is in the best interest of the District that the monies needed for such
purpose be borrowed through the issuance of general obligation promissory notes
pursuant to Section 67.12(12), Wis. Stats.; now therefore be it
RESOLVED, that the District shall issue general obligation promissory notes in the
amount of $1,500,000.00 for the public purpose of financing building remodeling and
improvement projects, consisting of the projects included in the District's 2013-2014
building remodeling and improvement program; and be it
FURTHER RESOLVED, that the District Secretary shall, within 10 (ten) days
hereafter, cause public notice of the adoption of this resolution to be given to the electors
of the District by publishing a notice thereof in the Milwaukee Journal Sentinel, a
newspaper published and having general circulation in the District, which newspaper is
found and determined to be likely to give notice to the electors, such notice to be in
substantially the form set forth in Attachment A to this resolution.
Adopted: February 4, 2014.
Bobbie Webber, Chairperson
Attest:
________________________________
Lauren Baker, District Secretary
Recorded on February 4, 2014.
________________________________
Lauren Baker, District Secretary
Attachment A
NOTICE
TO THE ELECTORS OF:
Milwaukee Area Technical
College District, Wisconsin
NOTICE IS HEREBY GIVEN that the District Board of the above-named District, at
a meeting duly called and held on February 4, 2014, adopted, pursuant to the provisions of
Section 67.12(12) of the Wisconsin Statutes, a resolution entitled, "RESOLUTION
AUTHORIZING THE ISSUANCE OF $1,500,000.00 GENERAL OBLIGATION
PROMISSORY NOTES, SERIES 2013-14I, OF MILWAUKEE AREA TECHNICAL
COLLEGE DISTRICT, WISCONSIN," which provides that the sum of $1,500,000.00 be
borrowed through the issuance of the District's general obligation promissory notes for the
public purpose of financing building remodeling and improvement projects, consisting of
projects included in the District's 2013-2014 building remodeling and improvement
program.
A copy of said resolution is on file in the District Office, 700 West State Street,
Milwaukee, Wisconsin, and is available for public inspection weekdays, except holidays,
between the hours of 8:00 A.M. and 4:00 P.M.
The District Board need not submit the resolution authorizing this borrowing to the
electors for approval unless within 30 days after the publication of this Notice there is filed
with the Secretary of the District Board a petition meeting the standards set forth in Sec.
67.12(12), Wis. Stats., requesting a referendum thereon at a special election.
Dated: February 4, 2014.
BY ORDER OF THE DISTRICT BOARD:
Lauren Baker, District Secretary
Attachment FPO - 8
Milwaukee Area Technical College - Budget Adjustments
January 17, 2014
Resolution F0023-01-14
Special Revenue - Operational
CURRENT BUDGET
2012-13
REVENUES
State
Federal
Material Fees
Other Student Fees
Other Institutional
Transfer from fund balance
EXPENDITURES
Instruction
Student Services
General Institutional
Physical Plant
Revised Special Revenue - Operational
REVISED BUDGET
2012-13
CHANGE
$
$
$
$
$
1,697,734
7,224,288
5,000
45,000
529,045
$
$
$
$
$
$
1,545,712
5,197,660
1,519
28,322
311,727
31,043
$ (152,022)
$(2,026,628)
$
(3,481)
$ (16,678)
$ (217,318)
$
31,043
$(2,385,084)
$
-
$
$
$
$
5,674,984
3,210,951
397,317
217,815
$
$
$
$
4,211,996
2,573,219
171,727
159,041
$(1,462,988)
$ (637,732)
$ (225,590)
$ (58,774)
$(2,385,084)
Attachment FPO - 13
MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT
Statement of Fiduciary Net Assets
Fiduciary Fund - MATC Post-Employment Benefits Trust
December 31, 2013
`
Assets
Current assets
Cash and cash equivalents
Marshall & Ilsley Bank
Seaway Bank & Trust Company
Charles Schwab Investments
$
Prepaid Expenses
Interest Receivable
Accounts Receivable
Total current assets
Total Assets
Net Assets
Current Liabilities
Accounts Payable
IBNR Payable
Held in trust for
Post employment benefits
Total Net Assets
5,030
733,835
20,806,577
21,545,442
21,545,442
$
21,545,442
$
367,549
21,177,893
$
21,545,442
MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT
Statement of Changes in Fiduciary Net Assets
Fiduciary Fund - MATC Post-Employment Benefits Trust
For The Six Months Ended December 2013
Additions
Contributions
MATC
Retiree Contributions
Total Contributions
Unrealized Gain/(Loss) on Investments
Interest Income
Total additions
Deductions
Adminstration
Benefit payments
Total deductions
Change in net assets
Net assets Held in Trust for Post Employment Benefits- Beginning of the year
Net assets Held in Trust for Post Employment Benefits- End of the year
$
3,839,818
1,424,265
5,264,083
2,381
84
5,266,547
102,280
4,655,975
4,758,254
508,293
20,669,600
$ 21,177,893