CAL POLY POMONA FOUNDATION, INC.
CALIFORNIA STATE POLYTECHNIC UNIVERSITY, POMONA
PERSONNEL COMMITTEE
Thursday, May 07, 2015
1:00 pm – 2:00 pm
Building #55 – Executive Conference Room
AGENDA
PAGE
CONSENSUS ACTION ITEMS
Consensus Action Items: Items in this section are considered to be routine and acted on by the
committee in one motion. Each item of the Consent agenda approved by the committee shall be
deemed to have been considered in full and adopted as recommended. Any committee member may
request that a consent item be removed from the consent agenda to be considered as a separate
action item. If no additional information is requested, the approval vote will be taken without
discussion.
1.
Minutes February 3, 2015 Meeting
ACTION: Approval
Steven Garcia
1-2
ACTION ITEMS
2.
2015-16 Compensation and Benefits Budget
ACTION: Approval
Dennis Miller
3-7
3.
457 Plan Employee Contributions
ACTION: Approval
Dennis Miller
8 - 13
4.
Foundation Employee Handbook Update
ACTION: Approval
Dennis Miller
14
DISUCSSION ITEMS
None Presented
INFORMATION ITEMS
5.
2015-16 Budget Resolution
G. Paul Storey
15
6.
Foundation Summer 4/10 Schedule Update
Dennis Miller
16
7.
Executive Director’s Report
G. Paul Storey
CAL POLY POMONA FOUNDATION, INC.
PERSONNEL COMMITTEE MEETING MINUTES
Tuesday, February 3, 2015
Present:
Mahyar Amouzegar, Susie Diaz, Winny Dong, Steven Garcia, Devon Graves, Rosie Pasos, James Priest,
and Sharon Reiter
Absent:
Samir Anz and Mei Lien Chang
Visitors:
Anne McLoughlin, Dennis Miller, Debra Poe, David Prenovost and Paul Storey
CALL TO ORDER
The meeting was called to order at 2:30pm by Personnel Committee Chair, Steven Garcia.
CONSENSUS ACTION ITEMS
Approval of Minutes
1.
November 11, 2014 Meeting Minutes
Steven Garcia stated the minutes were approved by consent.
ACTION ITEMS
2.
Comparability Study for Pay, Benefits, and Working Conditions
The Foundation as an Auxiliary of the CSU has an obligation to provide wages and salaries for positions that are
competitive with comparable jobs in other educational institutions or in commercial operations of like nature. The
Foundation maintains a comparability analysis which is required to be conducted at least every 5 years with the
last analysis in May 2010.
Dennis Miller presented the comparison analysis and stated the outcome confirms Foundation provides
comparable salaries and benefits for its full time employees as it relates to positions providing similar services
within the CSU.
A motion was made by Susie Diaz to accept the Foundation's Comparability Analysis and to be presented at the
next Board meeting for approval. The motion was seconded by Winny Dong and unanimously approved.
3.
Anti-Discrimination/Affirmative Action Policy and Plan
Dennis Miller presented the Foundation's Affirmative Action Plan, Policy #209 titled "Nondiscrimination and
Affirmative Action in Employment".
This plan requires the Foundation and each of its departments, offices, and operations to treat all employees
equally without regard to race, color, ancestry, religion, national origin, sex, gender, sexual preference, marital
status, pregnancy, age, mental or physical handicap, medical condition, veteran, disabled veteran or Vietnam
era veteran's status, or any other protected status as defined by current laws. The Foundation will make
positive efforts to increase the employment and advancement opportunities for women, members of minority
groups, the disabled, disabled veterans and veterans of the Vietnam era, by establishing policies and
procedures that works toward the employment of a workforce that reflects the diverse society served by the
organization. The objectives of this plan and goals for 2015 have been reviewed and updated.
A motion was made by Devon Graves to accept the reviewed and updated Affirmative Action Plan and
recommends the resolution be forwarded to the full Board of Directors for approval. The motion was seconded
by James Priest and unanimously approved.
DISCUSSION ITEMS
None Presented
1
Personnel Committee Minutes
2/3/15
Page 2
INFORMATION ITEMS
4.
CalPERS Valuation Reports for Foundation Pension Plan
Paul Storey presented the California Public Employee Retirement System reports for each of the three
Foundation pension plan tiers with the 2015-16 fiscal year employer contribution rates.
1.) Miscellaneous First Tier Plan (2% at 55) is funded at 87.4%, a positive growth of 3.1% over June 30, 2013.
The projected employer contribution rate for FY 2015-16 is 10.03%,
2.) Miscellaneous Second Tier Plan (2% at 60) is funded at 84.3%, a positive growth of 4.5% over June 30, 2013.
The projected employer contribution rate for FY 2015-16 is 6.709%,
3.) A Newly established Miscellaneous Tier (2% at 62) did not report the funded portion. The projected employer
contribution rate for FY 2015-16 is 6.237%
5.
Executive Director's Report
1.
At the last Board meeting the Foundation asked for and received approval for a VEBA trust fund withdrawal
estimated at $275,000 to cover Medicare eligible retires and spouses. Upon further review the amount is
actually $372,834.
2.
The next Board of Directors meeting is February19, 2015, 2:00pm at KW. A meet and greet lunch will take
place at 1:00 with the new president.
3.
Innovation Brew Works grand opening and ribbon cutting is February 20, 2015, 4:00 to 8:00pm.
OPEN FORUM
Meeting adjourned at 3:10.
Respectfully submitted,
°II
Steven N. Garcia, Chair
Personnel Committee
2
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Memorandum
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Cal Poly
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Poron
Date:
20'15
May 1.
1, 2015
To:
Personnel
Personnel Committee
Committee
Inc.
Cal Poly Pomona Foundation, Inc.
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From:
Dennis Mill
Millel
Employment Officer
Chief Employment
Foundation
FO
unt ali0n
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Expenses
Related Budget
Budget Expenses
of Employment
Employment Related
Subject:
Subject: Request for Approval of
overall
associated with the overall
During the budget year there
there will be several
expenses associated
several key expenses
year.
201 5-2016 budget
budget year.
for the
the 2015-2016
expenses for
cost of labor.
theestimated
esllmatedexpenses
labor.Below
Below are
are the
Educational Reimbursement:
1. EducationalReimbursement:
1
2.
2.
857,000
$57,000
Conversion: $78.000
PARS Sick Leave Conversion:
PARS
$78,000
3.
3. Wage Adjustments:
(covering 115
115 employees)
employees)
$180,000 (covering
Pension Plan:
Plan:
4.
4. CalPERS
CaIPERS Pension
$1.040,500 (inclusive of all benefit formulas)
$1,040,500
5 VEBA Contribution:
5.
Contribution:
$1,000,000 (Actual amount)
$1,000,000
Proposed
Prooosed Action:
Committee'ss
the Personnel
Personnel Committee
WHEREAS, the
is requesting
requesting the
management is
Foundation management
the Foundation
of Director's
Director's
to
the
Board
action to approve all of the above noted expenses
forward
expenses and forward
1,2015,
for final approval,
2015, unless otherwise noted.
effective date of July 1.
approval, with an effective
reviewed the
NOW, THEREFORE, BE IT
Committee has reviewed
lT RESOLVED,
RESOLVED, the Personnel Committee
NOW,
Board of
of Directors.
Directors.
the Board
approval to
to the
recommends approval
above request and recommends
PASSED AND ADOPTED THIS
DAY OF MAY 2015.
7Ih DAY
THIS 7th
PASSED
(.Fn'
By:
)
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\
{,t_a<^.-/
Dr. Steven N. Garcia,
Garcia, Chair
Dr.
Personnel Committee
Personnel
Committee
CAL POLY POMONA FOUNDATION, INC.
PROPOSED BUDGET
SUMMARY STATEMENT OF ACTIVITY
REVENUE
EXPENSES
NET SURPLUS/(DEFICIT)
Revised
Budget
Current
Forecast
Proposed
Budget
Revised
Budget
Current
Forecast
Proposed
Budget
Revised
Budget
Current
Forecast
Proposed
Budget
2014-2015
2014-2015
2015-2016
2014-2015
2014-2015
2015-2016
2014-2015
2014-2015
2015-2016
4,218,404
2,807,587
1,226,246
4,421,615
3,267,192
9,139
4,528,054
3,282,739
1,181,071
5,028,874
2,404,200
78,555
5,125,917
2,878,270
89,649
5,539,943
3,570,820
96,488
(810,470)
403,387
1,147,691
(704,302)
388,922
(80,510)
(1,011,889)
(288,081)
1,084,583
8,252,237
7,697,946
8,991,864
7,511,629
8,093,836
9,207,251
740,608
(395,890)
(215,387)
Bookstore
BRONCO BOOKSTORE
9,488,000
9,828,276
9,763,780
9,202,119
9,435,839
9,446,381
285,881
392,437
317,399
Total Bookstore
9,488,000
9,828,276
9,763,780
9,202,119
9,435,839
9,446,381
285,881
392,437
317,399
Dining Services
FOUNDATION MAINTENANCE
POLY TROLLEY
FRESH ESCAPES
CARL'S JR.
PONY EXPRESS - CCMP
PONY EXPRESS - CLA
INNOVATION BREW WORKS
POLY FRESH
PONY EXPRESS - ENV
ENG COFFEE SHOP
STARBUCKS COFFEE
PANDA EXPRESS
KIKKA SUSHI
LOS OLIVOS
VISTA CAFÉ
DENNYS
VENDING
QDOBA
JAMBA JUICE
SUBWAY
ROUND TABLE
DINING ADMINISTRATION
EINSTEIN'S BAGELS
PONY EXPRESS AT CBA
FRESHENS/PURA VIDA
TACO BELL
BRONCO BUCKS CARD OFFICE
SCE LOBBY SHOP
KW - CATERING/CONF. FOODS
0
293,000
94,454
477,962
633,075
200,425
340,454
410,002
57,460
74,859
925,800
114,999
67,299
5,142,797
1,423,767
884,255
217,197
645,050
300,000
870,000
374,951
0
386,500
980,000
185,002
260,000
167,903
84,085
1,941,994
0
320,000
162,725
512,440
775,000
194,200
430,000
461,560
59,500
16,700
1,090,000
111,000
124,018
5,292,885
1,397,521
883,580
123,500
820,000
201,950
940,000
455,000
0
419,000
1,032,000
205,000
276,330
161,159
80,000
2,270,389
0
323,500
173,224
537,127
785,501
196,115
546,400
441,401
60,700
45,100
1,147,501
118,438
94,860
5,562,607
1,403,402
884,286
134,100
829,000
290,000
948,000
491,000
0
427,000
1,046,000
193,501
302,672
178,154
84,426
2,336,254
6
308,106
85,214
404,102
515,758
176,728
337,256
350,010
50,013
75,008
877,962
7,848
29,282
4,699,041
1,354,897
855,903
189,587
566,627
302,953
758,702
317,633
1,033,169
381,203
764,021
182,908
231,575
165,800
73,025
1,992,033
(1,634)
363,118
131,498
407,931
626,592
173,144
496,394
398,509
52,998
17,094
972,922
8,088
148,964
4,643,985
1,348,158
955,195
103,560
673,304
257,011
808,641
397,276
1,020,863
410,583
826,728
199,053
249,386
161,274
67,950
2,111,261
2
326,990
141,247
448,518
644,489
178,752
538,494
376,571
56,056
41,418
1,036,909
8,071
32,593
4,863,847
1,350,524
951,239
112,951
694,398
284,614
832,277
429,650
1,051,993
414,826
842,136
190,385
264,835
178,579
71,821
2,188,922
17,553,290
18,815,457
19,580,269
17,086,370
18,029,846
18,553,107
K.W. Conference Ctr. & Lodge
1,452,619
1,626,969
1,542,709
1,428,670
1,558,365
1,530,360
23,949
68,604
12,349
University Village
9,603,211
9,021,729
9,540,576
8,021,611
8,187,423
8,209,366
1,581,600
834,306
1,331,210
38,097,120
39,292,431
40,427,334
35,738,770
37,211,473
37,739,214
2,358,350
2,080,958
2,688,120
46,349,357
46,990,377
49,419,198
43,250,399
45,305,309
46,946,465
3,098,958
1,685,068
2,472,733
FISCAL YEAR
GENERAL ACTIVITIES:
ADMINISTRATION
REAL ESTATE
INVESTMENTS
TOTAL GENERAL ACTIVITIES
ENTERPRISE ACTIVITIES:
Total Dining Services
TOTAL ENTERPRISE ACTIVITIES
TOTAL GENERAL & ENTERPRISE ACTIVITIES
4
(6)
(15,106)
9,240
73,860
117,317
23,697
3,198
59,992
7,447
(149)
47,838
107,151
38,017
443,756
68,870
28,352
27,610
78,423
(2,953)
111,298
57,318
(1,033,169)
5,297
215,979
2,094
28,425
2,103
11,060
(50,039)
466,920
1,634
(43,118)
31,227
104,509
148,408
21,056
(66,394)
63,051
6,502
(394)
117,078
102,912
(24,946)
648,900
49,363
(71,615)
19,940
146,696
(55,061)
131,359
57,724
(1,020,863)
8,417
205,272
5,947
26,944
(115)
12,050
159,128
785,611
(2)
(3,490)
31,977
88,609
141,012
17,363
7,906
64,830
4,644
3,682
110,592
110,367
62,267
698,760
52,878
(66,953)
21,149
134,602
5,386
115,723
61,350
(1,051,993)
12,174
203,864
3,116
37,837
(425)
12,605
147,332
1,027,162
CAL POLY POMONA FOUNDATION, INC.
PROPOSED BUDGET
SUMMARY STATEMENT OF ACTIVITY
REVENUE
EXPENSES
NET SURPLUS/(DEFICIT)
Revised
Budget
Current
Forecast
Proposed
Budget
Revised
Budget
Current
Forecast
Proposed
Budget
Revised
Budget
Current
Forecast
Proposed
Budget
2014-2015
2014-2015
2015-2016
2014-2015
2014-2015
2015-2016
2014-2015
2014-2015
2015-2016
0
0
0
2,086,608
2,079,000
1,355,338
(2,086,608)
(2,079,000)
(1,355,338)
SURPLUS (DEFICIT) AFTER DESIGNATED GIFT 46,349,357
46,990,377
49,419,198
45,337,007
47,384,309
48,301,803
1,012,350
FISCAL YEAR
DESIGNATED GIFTS - University
(393,932)
1,117,395
SUPPLEMENTAL PROGRAMS
RESEARCH OFFICE
1,288,575
1,250,000
1,250,000
1,243,571
1,204,398
1,204,546
45,004
45,602
45,454
AGRICULTURE UNITS
3,470,211
3,508,172
3,455,800
3,408,219
3,263,246
3,413,124
61,992
244,926
42,676
CONTINUING EDUCATION
4,389,641
4,258,069
5,768,481
3,911,086
4,103,982
5,522,538
478,555
154,087
245,943
794,856
575,000
575,004
794,856
575,000
574,992
0
0
12
9,943,283
9,591,241
11,049,285
9,357,732
9,146,626
10,715,200
585,551
444,615
334,085
56,292,640
56,581,618
60,468,483
54,694,739
56,530,935
59,017,003
1,597,901
50,683
1,451,480
14,355,493
9,306,254
6,267,196
4,983,766
4,951,935
2,221,042
9,371,727
4,354,319
4,046,154
8,794,236
11,452,901
8,567,959
6,312,936
8,221,465
6,150,507
2,481,300
3,231,436
2,417,452
23,149,729
20,759,155
14,835,155
11,296,702
13,173,400
8,371,549
11,853,027
7,585,755
6,463,606
79,442,369
77,340,773
75,303,638
65,991,441
69,704,335
67,388,552
13,450,928
7,636,438
7,915,086
UNRESTRICTED FOUNDATION PROGRAMS
TOTAL SUPPLEMENTAL
TOTAL SURPLUS (DEFICIT) UNRESTRICTED
RESTRICTED:
ENDOWMENT/INVESTMENTS
RESTRICTED FOUNDATION PROGRAMS
TOTAL RESTRICTED
TOTAL
5
CAPITAL REQUESTS
NET CASH GENERATED
CAL POLY POMONA FOUNDATION, INC.
PROPOSED BUDGET
SUMMARY STATEMENT OF ACTIVITY
DEPRECIATION & AMORTIZATION
Revised
Budget
Current
Forecast
Proposed
Budget
Carryover
Revised
Budget
Current
Forecast
Prior
Years
Proposed
Budget
Revised
Budget
Current
Forecast
Proposed
Budget
FISCAL YEAR
2014-2015
2014-2015
2015-2016
2014-2015
2014-2015
Carryover
2015-2016
2014-2015
2014-2015
2015-2016
150,672
945,312
154,407
936,601
203,976
894,069
277,000
570,000
194,485
331,686
74,500
180,000
231,000
400,000
(936,798)
778,699
1,147,691
(744,380)
993,837
(80,510)
1,095,984
1,091,008
1,098,045
847,000
526,171
254,500
631,000
989,592
168,947
Bookstore
BRONCO BOOKSTORE
150,672
142,176
162,000
110,000
10,000
100,000
25,000
326,553
524,613
354,399
Total Bookstore
150,672
142,176
162,000
110,000
10,000
100,000
25,000
326,553
524,613
354,399
Dining Services
FOUNDATION MAINTENANCE
POLY TROLLEY
FRESH ESCAPES
CARL'S JR.
PONY EXPRESS - CCMP
PONY EXPRESS - CLA
INNOVATION BREW WORKS
POLY FRESH
PONY EXPRESS - ENV
ENG COFFEE SHOP
STARBUCKS COFFEE
PANDA EXPRESS
KIKKA SUSHI
LOS OLIVOS
VISTA CAFÉ
DENNYS
VENDING
QDOBA
JAMBA JUICE
SUBWAY
ROUND TABLE
DINING ADMINISTRATION
EINSTEIN'S BAGELS
PONY EXPRESS AT CBA
FRESHENS/PURA VIDA
TACO BELL
BRONCO BUCKS CARD OFFICE
SCE LOBBY SHOP
KW - CATERING/CONF. FOODS
3,600
33,072
4,452
20,244
5,400
3,936
12,000
17,160
360
5,000
11,304
372
15,672
100,968
4,020
7,800
3,996
47,232
12,580
21,012
9,612
113,004
43,692
19,284
16,440
15,804
0
2,280
61,200
3,000
32,500
5,288
18,600
5,400
4,000
8,200
17,155
400
2,500
8,100
370
16,000
100,910
4,018
7,800
0
40,932
8,820
18,000
9,300
84,921
39,340
19,370
16,440
13,092
0
2,280
45,555
3,000
33,072
5,292
15,744
5,400
3,936
12,000
17,160
360
5,004
10,104
372
15,672
100,968
4,020
7,800
0
47,208
10,236
18,000
11,304
82,392
43,680
20,208
16,440
15,804
0
2,280
45,996
Total Dining Services
611,496
532,291
553,452
1,186,036
925,901
65,173
601,500
(107,620)
58,105
43,568
55,282
1,150,000
903,000
147,000
1,045,000
(1,067,946)
University Village
2,525,748
2,525,748
2,668,680
965,000
1,086,985
0
229,000
3,142,348
2,273,069
3,770,890
TOTAL ENTERPRISE ACTIVITIES
3,346,021
3,243,783
3,439,414
3,411,036
2,925,886
312,173
1,900,500
2,293,335
2,398,855
3,914,861
TOTAL GENERAL & ENTERPRISE ACTIVITIES 4,442,005
4,334,791
4,537,459
4,258,036
6
3,452,057
566,673
2,531,500
3,282,927
2,567,802
3,912,019
GENERAL ACTIVITIES:
ADMINISTRATION
REAL ESTATE
INVESTMENTS
TOTAL GENERAL ACTIVITIES
(1,113,413)
25,988
1,084,583
(2,842)
ENTERPRISE ACTIVITIES:
K.W. Conference Ctr. & Lodge
6,000
15,000
80,000
80,000
400,000
400,000
5,000
25,000
2,459
25,000
75,000
20,000
96,900
86,928
343,000
230,000
3,204
158,000
38,551
3,932
3,932
71,000
59,031
175,000
3,204
50,000
14,000
15,000
18,500
20,000
195,000
11,969
48,000
3,594
17,966
13,692
94,104
42,717
27,633
(384,802)
77,152
2,807
(20,149)
59,142
107,523
53,689
447,824
72,890
36,152
31,606
125,655
(333,373)
132,310
63,726
(1,078,165)
48,989
235,263
18,534
40,297
2,103
13,340
(59,839)
4,634
(10,618)
36,515
123,109
73,808
25,056
(458,194)
80,206
4,443
(22,894)
125,178
103,282
(8,946)
662,882
53,381
(63,815)
19,940
187,628
(276,241)
149,359
67,024
(974,493)
47,757
224,642
22,387
36,104
(115)
14,330
145,652
392,001
(790,828)
(3,002)
29,582
37,269
89,353
146,412
21,299
(55,094)
81,990
5,004
8,686
100,696
110,739
77,939
624,728
56,898
(59,153)
21,149
167,810
622
115,223
49,450
(1,214,601)
55,854
224,072
19,556
53,641
(425)
14,885
133,359
913,941
(1,124,369)
CAPITAL REQUESTS
NET CASH GENERATED
CAL POLY POMONA FOUNDATION, INC.
PROPOSED BUDGET
SUMMARY STATEMENT OF ACTIVITY
DEPRECIATION & AMORTIZATION
Revised
Budget
Current
Forecast
Proposed
Budget
Carryover
Revised
Budget
Current
Forecast
Prior
Years
Proposed
Budget
Revised
Budget
Current
Forecast
Proposed
Budget
FISCAL YEAR
2014-2015
2014-2015
2015-2016
2014-2015
2014-2015
Carryover
2015-2016
2014-2015
2014-2015
2015-2016
0
0
0
(2,086,608)
(2,079,000)
(1,355,338)
SURPLUS (DEFICIT) AFTER DESIGNATED GIFT 4,442,005
4,334,791
4,537,459
0
0
0
AGRICULTURE UNITS
52,242
35,502
49,302
760,377
CONTINUING EDUCATION
34,224
28,249
34,849
320,000
0
0
0
86,466
63,751
84,151
1,080,377
138,377
480,000
176,750
4,528,471
4,398,542
4,621,610
5,338,413
3,590,434
1,046,673
2,708,250
ENDOWMENT/INVESTMENTS
0
0
RESTRICTED FOUNDATION PROGRAMS
0
0
0
4,528,471
DESIGNATED GIFTS - University
4,258,036
3,452,057
566,673
2,531,500
1,196,319
488,802
2,556,681
45,004
45,602
45,454
166,750
(646,143)
142,051
(554,772)
10,000
192,779
182,336
270,792
0
0
12
SUPPLEMENTAL PROGRAMS
RESEARCH OFFICE
UNRESTRICTED FOUNDATION PROGRAMS
TOTAL SUPPLEMENTAL
TOTAL SURPLUS (DEFICIT) UNRESTRICTED
138,377
480,000
(408,360)
369,989
(238,514)
787,959
858,791
2,318,167
0
9,371,727
4,354,319
4,046,154
0
2,481,300
3,231,436
2,417,452
0
0
11,853,027
7,585,755
6,463,606
4,398,542
4,621,610
12,640,986
8,444,546
8,781,773
RESTRICTED:
TOTAL RESTRICTED
TOTAL
5,338,413
7
3,590,434
1,046,673
2,708,250
Memorandum
Date:
May 1, 2015
To:
Personnel Committee
Cal Poly Pomona Foundation, Inc.
From:
Dennis Miller
Chief Employment Officer
Subject:
PARS Vacation/Sick Leave Conversion Program
The PARS Vacation/Sick Leave Conversion Program allows the Foundation to provide
eligible employees a supplemental retirement plan to the existing retirement program
(CalPERS) by converting a portion of unused Vacation and Sick Leave balances to
cash, and then contributing those funds directly into the employees PARS 457(b)
individual account on a tax-deferred basis. The percentage of participation is fully
elective by the eligible employees and the option to convert occurs on an annual basis.
Foundation must meet certain financial obligations to convert funds under this Program
and must have approval from the Personnel Committee and final approval from the
Board of Directors. As outlined below, Foundation has met its minimum financial
requirements to allow employees to convert sick time and vacation time under this
Program, and is requesting approval from the Personnel Committee to move this
request to the Board of Directors for final approval.
The Foundation will generate an unrestricted forecasted surplus of $2.1 million
(excluding the Designated Gifts to the University of $2.1 million), has funded its
reserves by $1.3 million, and has met its debt service coverage requirements for the
fiscal year ended June 2015. See attached documents for further details.
As of June 30, 2015, there will be 65 employees eligible to convert sick leave. If all 65
converted their maximum amount of sick time, the amount would be approximately
$144,000. However, based on historical participation and conversion levels, a
reasonable forecast of the expense resulting from sick leave conversions is $78,000.
There are 54 employees eligible to convert a portion of their vacation. If all 54
employees convert 100% of their allowable hours the amount would be approximately
$133,000. However, based on historical participation and conversion levels, a
reasonable forecast of the expense resulting from vacation time conversions is $65,000.
8
Subject:
Subject:
PARS
PARS Vacation/Sick
Vacation/Sick Leave Conversion Program
Program
It is notable
notable that when an employee elects
elects to convert
convert unused
unused vacation
vacation time
time there
there isisno
no
cost
Foundation since vacation amounts have
have already
cost to Foundation
already been
been earned
earned and
and accrued.
accrued.
Eligible
Eligible employees
employees will be invited
invited to a training
training session
session in May
May to learn
learn about
about the
the
advantages and disadvantages
disadvantages of
of converting
converting vacation
vacation and
advantages
and sick
sick leave
leave time
timeinto
into the
the
program, and
retirement program.
and subsequently
subsequently invested
supplemental retirement
Hancock
invested with
with John
John Hancock USA,
USA,
presenting information
who
representative presenting
who will have a representative
information at
at this
this meeting.
meeting.
Proposed Action:
Proposed
Foundation management
management is
is requesting
requesting the
WHEREAS, Foundation
the Personnel
Personnel Committee's
Committee's action
action
to approve
allowing eligible
employees to elect to convert
portion of their
approve allowing
eligible employees
their vacation
vacation and
and
convert a portion
poly
sick leave to the deferred
deferred compensation
compensation supplement retirement
retirement plan of Cal Poly
Pomona
Foundation, Inc.
Inc. effective
30, 2015.
2015, and
Pomona Foundation,
effective June
June 30
and forward
fonlrrard to
to the
the Board
Board of
of Directors
Directors
for final approval.
Now'
lr RESOLVED,
RESOLVED, the Personnel
NOW, THEREFORE,
THEREFORE, BE IT
Personnel Committee
committee has reviewed the
surplus, reserves
pARS
reseryes and
and debt
surplus.
debt service
service coverage
coverage and
and approves the funding for the
the PARS
Vacation/sick
Leave Conversion
conversion Plan
Plan of
Vacation/Sick Leave
of Cal
cal Poly
Poly Pomona
Pomona Foundation,
Foundation, Inc. effective
effectrve
2015.
June 30.
30,2015.
PASSED AND ADOPTED
ADOPTED THIS
PASSED
THIS 7th
7th DAY
DAY OF
OF MAY
MAY 2015.
2015.
By:
Bv:
'ffi
-J-fl
\ t -,1^- h\"- ^;
Dr. Steven N. Garcia, Chair
Personnel
Personnel Committee
Committbe
Number of
Employees
Eligible for
Vacation
Fiscal Year Conversion
2001-2002
36
2002-2003
32
2003-2004
39
2004-2005
40
2005-2006
40
2006-2007
46
2007-2008
43
2008-2009
42
2009-2010
49
2010-2011
53
2011-2012
56
2012-2013
69
2013-2014
51
2014-2015
65
Number of
Employees
Electing
Vacation
Conversion
17
13
20
25
26
27
18
23
25
43
28
38
29
37
Percentage
Electing
Vacation
Conversion
47%
41%
51%
63%
65%
59%
42%
55%
51%
81%
50%
55%
57%
57%
$ Amount
$ Amount Vacation
Vacation
Employees
Employees
Eligible
Converted
$65,240
$28,851
$57,528
$27,717
$64,810
$40,256
$68,972
$45,068
$73,817
$38,901
$88,019
$54,480
$79,480
$31,657
$85,640
$48,705
$99,177
$47,224
$112,511
$68,885
$105,500
$61,041
$149,194
$58,778
$117,000
$49,479
$144,000
$65,000
Number of
Number of
Employees
Percentage $ Amount Sick
Eligible for Employees
Electing Sick Electing Sick
Employees
Sick
Fiscal Year Conversion Conversion
Conversion
Eligible
2001-2002
56
20
36%
$51,695
2002-2003
62
25
40%
$51,757
2003-2004
71
32
45%
$61,847
2004-2005
68
45
66%
$68,198
2005-2006
72
40
56%
$72,390
2006-2007
68
36
53%
$66,608
2007-2008
62
27
44%
$70,525
2008-2009
60
34
57%
$65,926
2009-2010
74
41
55%
$84,160
2010-2011
41
29
71%
$96,045
2011-2012
45
30
67%
$91,947
2012-2013
56
31
55%
$111,476
2013-2014
55
42
76%
$114,000
2014-2015
54
30
56%
$133,000
Fiscal Year - Combined Total
2001-2002
$56,137
2002-2003
$63,534
2003-2004
$88,626
2004-2005
$99,993
2005-2006
$80,879
2006-2007
$102,967
2007-2008
$76,197
2008-2009
$89,052
2009-2010
$101,611
2010-2011
$143,027
2011-2012
$129,920
2012-2013
$138,780
2013-2014
$140,070
2014-2015
$143,000
$ Amount Sick
Employees
Converted
$27,286
$35,817
$48,370
$54,924
$41,978
$48,487
$44,540
$40,347
$54,387
$74,142
$68,879
$80,002
$90,591
$78,000
Estimate
Estimate
Estimate
10
Description
Debt Service Coverage
(Fiscal Year Ended June 30)
Actual
Budget
2013-14
Change in unrestricted net assets
$
5,751,184
Add Back:
University Designated Expenses
Surplus (Deficit) before Designated Expenses - see Note
$
7,147,252
$
12,311,018
$
2,162,375
$
3,994,008
$
9,721,196
$
2,162,375
$
2,129,683
$
7,667,404
$
2,162,375
2,806,818
4,621,610
1,034,716
$
1,829,625
332,750
$
1,451,480
1,355,338
4,398,542
1,139,179
1,829,625
332,750
$
50,683
2,079,000
4,528,476
1,198,712
1,829,625
332,750
$
1,907,400
Proposed
Budget
2015-16
Forecast
2014-15
2,086,608
3,867,508
1,296,258
Maximum Annual Debt Service *
2005 Series Bonds
2007 Series Bonds
Total Debt Service
$
1,396,068
Add Back:
Depreciation and amortization
Interest (see detail below)
Available for Debt Service
Revised
Budget
2014-15
8,463,144
1,829,625
332,750
$
2,162,375
Total Debt Service before Designated Expenses - see Note
5.69
4.50
3.55
3.91
Total Debt Service after Designated Expenses
5.05
3.53
2.58
3.29
Note: Bond covenants require the Foundation to not incur a deficit in any two consecutive years after adding back the designated
gifts and a debt coverage ratio of at least 1.25.
* Maximum annual debt service is reported as the total amount of scheduled debt service during the year in which
the debt service is scheduled to be highest during the life of the Bonds
Interest Detail
2005 Series Bonds - Interest (portion advance refunded 2013 & 2
2007 Series Bonds - Interest
Total Interest Expense
1,170,408
125,850
$
11
1,296,258
1,080,528
118,184
$
1,198,712
1,020,995
118,184
$
1,139,179
925,964
108,752
$
1,034,716
CAL POLY POMONA FOUNDATION, INC.
2014-15 PROPOSED BUDGET
SUMMARY OF SOURCES AND USES OF FUNDS
Revised
2014-2015
PROPOSED BUDGET
SOURCES OF CASH
SURPLUS (DEFICIT)
Administration
Real Estate
Investments
Bookstores
Dining Services
Kellogg West Conference Center
University Village
Supplementary Programs
TOTAL OPERATING SURPLUS (DEFICIT)
Designated Gifts
NET OPERATING SURPLUS (DEFICIT)
NON-CASH TRANSACTIONS:
Depreciation and Amortization
Post Retiree Medical Benefits - See Note 1
TOTAL CASH GENERATED BY OPERATIONS
FINANCING
TOTAL SOURCES OF FINANCING
RESERVES
Capital Reserve
Residential Board Meal Program Surplus Reserve
Insurance Reserve
Venture Capital/Real Estate Reserve
Withdraw of funds from Post Retiree Medical Benefit Trust
TOTAL SOURCES FROM RESERVES
TOTAL SOURCES OF CASH
BEGINNING OF THE YEAR WORKING CAPITAL LESS CONTINGENCY
NET WORKING CAPITAL AVAILABLE END OF YEAR - Note 2
Minimal Two Months Working Capital Reserve Required
12
2015-2016
PROPOSED BUDGET
(810,470)
403,387
1,147,691
285,881
466,920
23,949
1,581,600
585,551
3,684,509
(2,086,608)
1,597,901
(704,302)
388,922
(80,510)
392,437
785,611
68,604
834,306
444,615
2,129,683
(2,079,000)
50,683
(1,011,889)
(288,081)
1,084,583
317,399
1,027,162
12,349
1,331,210
334,085
2,806,818
(1,355,338)
1,451,480
4,528,476
614,273
6,740,650
4,398,542
614,273
5,063,498
4,621,610
548,209
6,621,299
-
USES OF CASH
CAPITAL EXPENDITURES
University Village
Bookstore
Dining Services
Kellogg West
Real Estate
Agricultural Units
Continuing Education
Administration
Prior Year Carryover
TOTAL CAPITAL EXPENDITURES
FINANCING
University Village Bond payment - 2005A & B
CTTi Bond payment - 2007
TOTAL USES OF FINANCING
RESERVES
Agriculture Program Reserve @ 55% net Annual Surplus
Cafeteria State Share Reserve
Capital Reserve @ 1.75% of Gross Auxiliary Revenues
Emergency Reserve
Indirect Cost Disallowance Reserve
Innovation Village Demo Reserve
Insurance Reserve
Pine Tree Ranch Reserve @ 50% net Annual Surplus
Post Retiree Medical Benefits Trust - see Note 1
Research & Sponsored Programs
Residential Board Meal Program Surplus Reserve excess 7%
Venture Capital/Real Estate Reserve @ 1.0% of Gross Rev.
TOTAL RESERVE CONTRIBUTIONS
TOTAL USES OF CASH
NET SOURCES & (USES) OF CASH
2014-2015
FORECAST
-
-
1,601,000
96,900
1,354,000
86,928
100,921
372,834
2,070,734
8,811,384
372,834
1,914,683
6,978,181
965,000
110,000
1,186,036
1,150,000
570,000
760,377
320,000
277,000
1,086,985
10,000
925,901
903,000
331,686
138,377
5,338,413
3,590,434
229,000
25,000
595,500
1,045,000
400,000
166,750
10,000
237,000
1,046,673
3,754,923
625,000
195,000
820,000
625,000
195,000
820,000
625,000
205,000
830,000
33,098
21,295
813,948
422,292
864,302
8,221
39,796
998
1,000,000
20,000
135,188
465,113
2,516,362
8,674,775
136,609
8,200
39,796
8,740
62,747
1,000,000
20,000
329,388
469,904
2,310,875
6,721,309
256,872
1,000,000
20,000
365,004
493,887
2,814,680
7,399,603
1,800,499
9,989,677
10,246,549
10,246,549
12,047,048
6,317,408
6,946,467
194,485
1,230,969
175,000
800,000
372,834
2,578,803
9,200,102
CAL POLY POMONA FOUNDATION, INC.
SOURCES/(USES) AND WORKING CAPITAL
Balance as of
6/30/2014
Sources of Funds:
Fund Balance (Unrestricted)
Current & Long term debt
University Village Series 2005
CTTI Bonds Series 2007
Excess of Accounts Receivable over Accounts Payable
Post Retiree Medical Benefits - Note 1
Total Available
Uses of Funds
Investment in fixed assets
Depreciation
Inventory
Reserves :
Board Designated Reserves
Agriculture Program Reserve
Cafeteria State Share Reserve
Capital Reserve
Emergency Reserve
Indirect Cost Dissallowance Reserve
Innovation Village Demo Reserve
Insurance Reserve
Pine Tree Ranch Reserve
Auxiliaries Multiple Employer VEBA Trust - Note 1
Research & Sponsored Programs
Residential Board Meal Program Surplus Res
Venture Capital/Real Estate Reserve
Other
Total Uses
Available for Working Capital
Net Working Capital - Note 2
Minimal Two Months Working Capital Reserve Required
Forecast
Fiscal 14/15
43,193,446
50,683
23,920,000
2,785,000
3,817,394
335,469
74,051,309
(625,000)
(195,000)
614,273
(155,044)
98,042,213
(45,576,534)
1,968,299
3,590,434
(4,398,542)
53,705
182,062
5,577,708
120,152
346,406
54,529
98,378
140,886
Proposed
Budgeted 15/16
1,451,480
(625,000)
(205,000)
548,209
1,169,689
3,754,923
(4,621,610)
21,295
Net End of
6/30/2016
44,695,609
22,670,000
2,385,000
3,817,394
1,497,951
75,065,954
112,258
1,548,176
1,370,037
23,357
64,061,632
9,989,677
9,989,677
(411,916)
256,872
10,246,549
(630,810)
1,800,499
12,047,048
5,336,578
6,317,408
6,946,467
6,946,467
(366,667)
8,200
(61,125)
8,740
62,747
627,166
20,000
242,460
469,904
627,166
20,000
190,004
(306,113)
Note 1 - Forecast and Proposed Budget includes funding of $1.0 million and withdraws of $372,834 each year;
the Post Retirement Med Benefit.
Note 2 - Net Working Capital does not include cash advances for Sponsored Programs per policy # 172
13
1,497,951
105,387,570
(54,596,686)
1,968,299
75,000
182,062
4,279,333
120,152
346,406
71,469
100,000
140,886
1,254,332
152,258
1,980,640
1,533,828
23,357
63,018,906
12,047,048
12,047,048
(931,708)
Goal
75,000
6,000,000
346,406
75,000
6,000,000
,A
Memorandum
Cal Poly
PdT Pomona
ci
hur
Date:
2015
May 1,
1,2015
To.
To:
Personnel Committee
Personnel
Committee
Cal Poly Pomona Foundation.
Foundation, Inc.
Inc.
r,
..t /'
From:
Dennis Mill
Mille/
Chief Employment Officer
Officer
Foundation
FO
unil a[0n
AlFit
/* lftu4tt
Subject:
Employee Handbook Revisions
Subject: EmployeeHandbookRevisions
practice of most organizations.
As is the practice
Foundation maintains
maintains an Employee
Employee Handbook
Handbook
organizations, Foundation
policies, benefits,
to help
help communicate
information to all
all employees
key policies,
benefits, and
and working
communicate information
employees on key
conditions, related
to employment
employment while
while working
working for
for Foundation.
Foundation. Periodically,
related to
Periodically, it is
necessary
to
review,
revise,
and
update
the
Employee
Handbook,
when
necessary
Employee Handbook, especially
especially when
legislative
legislative updates occur
occur to
to California
California labor
labor laws,
laws, which
which isis the
the case
case for
tor 2015.
2015.
Effective July 1, 2015, Foundation
Foundation is required
required to provide
provide paid
paid sick leave
leave for part
part time
time
Effective
employees
employees per the Healthy Workplace/Healthy Families
Families Act of 2014, commonly
commonly referred
"A81522".
to as
"AB1522-.
as
revisions to the handbook are mostly minor language
language changes,
changes, two notable
While the revisions
While
changes
adopting a policy to offer paid sick time to our part time employees in
changes include adopting
policy on
video cameras.
support of AB1522,
A81522, and
and including
including aa policy
on the
the use
use of
of video
cameras.
This is the link to the Foundation
Foundation Employee
Employee Handbook
Handbook online on the Employment
Employment
Services
Services website: http://www.foundation.csupomona.edu/content/es/d/nh/employeehtto://www.foundation.csupomona.edu/contenVes/d/nh/emoloveehandbook. pdf
handbook.pdf
Proposed Action:
WHEREAS, the Foundation
Foundation management
management is
is requesting
requesting the Personnel
Personnel Committee's
Committee's
forward to the Board of Director's for
action to approve
approve the Employee
Employee Handbook
Handbook and forward
final approval,
approval, with
with an
an effective
effective date
date of
of July
July1,
1,2015.
2015.
NOW, THEREFORE,
THEREFORE, BE IT
lT RESOLVED,
RESOLVED, the
the Personnel
Personnel Committee
Committee has
has reviewed
reviewed the
recommends approval
above request and recommends
approval to
to the
the Board
Board of
of Directors.
Directors.
PASSED
THIS 7th
rh DAY
PASSED AND ADOPTED THIS
DAY OF
OF MAY
MAY 2015.
2015.
BY:
By:
(ts
,n
J [,''-''* l^ I o-'-<--"'-
Dr. Steven N.
N. Garcia,'
Garcia.l Chair
Chair
Personnel
Personnel Committee
14
A
Agel
Memorandum
,
Date:
May
4. 2015
May 4,
To:
Board of Directors
Directors
Foundation, Inc.
Inc.
Cal Poly Pomona Foundation,
From:
G. Paul
P aul St
St&jg{a^!t1)L'atc;"'u"
Executive
Executive Director
(
Subject:
Programs,Designated
DesignatedGifts,
Gifts,Reserve
Reserve
General
Enterprise,Supplemental
SupplementalPrograms,
General Activities,
Activities, Enterprise,
Cash Plan/Reserves
Plan/Reserves for
for Fiscal
Fiscal Year
Year 2015-16
2015-16
Budgets and
and Long
Long Range
Range Cash
Cal Poly Pomona
Foundation
HffiillfiflH
ft nAl-Director
!4
provisions of
University
Compliance Guide
Guide for
forCalifornia
CalifomiaState
StateUniversity
WHEREAS, Pursuant to the
the provisions
of the
theCompliance
proposed operating
and
Foundation's proposed
operating budgets
budgets and
Auxiliary Organizations
Cal Poly
Poly Pomona
Pomona Foundation's
Section 11.7.
11.7, the
the Cal
Organizations Section
Activities
(Administration; Real Estate
Investments) Enterprise
Enterprise Activities
Estate &
&Investments)
forecast
forecast include:
include: General Activities (Administration:
(Research Office.
Office,
Programs (Research
(Bookstore/Dining Services/Kellogg
Housing); Supplemental
Supplemental Programs
WesUFoundation Housing):
Services/Kellogg West/Foundation
Foundation Programs):
Programs); Designated
Designated
Unrestricted Foundation
Agriculture Units.
Restricted and
and Unrestricted
Education, Restricted
Agriculture
Units, Continuing Education.
Capital;
andUses
Uses and
and Working
WorkingCapital;
with the
Summary of
of Sources
Sources and
Gifts; Reserves
Budgets; along
along with
the Summary
Reserves and Capital Budgets;
Foundation's
Plan/Reserves.
The
Statement
of
Activities:
Debt
Service
Coverage:
Long
Term
Cash
Plan/Reserves.
The
Foundation's
and
Coverage;
Activities;
Statement
and
operating and
approving the
the annual
annual operating
governing Board accomplishes
these activities
activities by reviewing
reviewing and approving
accomplishes these
approved budgets may be
changes to the
the approved
capital budgets before
before the
the start
start of each
each fiscal
fiscal year.
year. Necessary
Necessary changes
progresses, and
year progresses.
and
fiscal year
made by the governing Board
as the
the fiscal
Board as
provides that
that Foundation
No. 118,
1 18, provides
Policy No.
Budget Process
Process Policy
Foundation Budget
the Foundation
WHEREAS, the
proposed
andsupporting
supporting
budgets, forecasts
forecasts and
present annually the
Administration will present
and capital
capital proposed budgets.
the operating
operating and
Directors, and
detailed
information to the Board of Directors:
schedules and information
detailed schedules
pension Plans
Plans
rate of
WHEREAS.
blended rate
of 9.6% to the three pension
includes contributing
contributing aa blended
WHEREAS, the budget includes
ranges (previously
with CALPERS
approximaiely $1.040.500
a total of approximately
$1,040,500 and changes to salary grade ranges
CALPERS for a
approved in November
November 2014)
2014) and a 3% or approximately
$180,000 wage adjustment
adjustment for
for eligible
eligible
approximately $180,000
approved
who
paid
funds,
employees
("Eligible
employees"
are
regular
benefited
employees
paid
from
non-grant
funds,
who were
were
from
non-grant
employees
regular
benefited
("Eligible
are
employees"
employees
due
to
pay
to
adjustments
year
have
had
any
hired
prior
to
beginning
this
2014-15
fiscal
year
and
have
not
any
adjustments
who
fiscal
and
2014-15
prior
of
this
beginning
to
the
hired
promotions
during the 2014-15
fiscal year,
year, and
and among
among the other
other employees
employees includes the
2014-15 fiscal
promotions or
reitructures during
or job restructures
$372.834 with the VEBA Trust:
Trust; and
and
withdraw $372,834
million and withdraw
two Officers
contribute $1.0
Foundation); and contribute
$1 .0 million
oi Foundation):
Officers of
per
health
care
plan
as
per
actuarial
actuarial
postretirement
as
the
assume
7.5%
$548.209
benefit
cost
for
postretirement
as
the
or
assume 7.5%
$548,209
studies.
proposed operating
presents these
prepared and
these proposed
WHEREAS. the Foundation
and presents
management has prepared
Foundation management
WHEREAS,
and
plan/reserve,
range
gifts,
long
reserves
and
and
capital
budgets
and
forecasts,
designated
gifts,
reserves
and
long
range
plan/reserve.
designated
budgets
and
proposed operating and
and
theseproposed
discussed these
WHEREAS,
reviewed and
anddiscussed
hasreviewed
Directors has
Board of
of Directors
WHEREAS, the Board
pursuant
plan/reserve
reserves
and
long
range
plan/reserve
pursuant
to
gifts, reserves and long range
designated gifts,
forecasts, designated
andforecasts,
capital budgets
budgets and
Foundation Budget Process Policy
No. 118.
1 18, and
and
Policy No.
Foundation
capital
and Capital
Proposed Operating
operating and
NOW, THEREFORE,
THEREFORE,the
the Board
Board of
the Proposed
approves the
of Directors
Directors approves
NOW,
Activities.
Enterprise
Enterprise
year
Activities,
for
General
2014-15
fiscal
Budgets
for
year
2015-16
and
forecasts
for
fiscal
year
2014-15
for
General
forecasts
for
fiscal
Budgets
plan/reserve.
long-range cash plan/reserve.
Activities. Supplemental
Reserves and the long-range
Gifts, Reserves
Programs, Designated
Designated Gifts.
Supplemental Programs.
Actitities,
Passed and
and adopted
adopted this 21st
MAY 2015
201 5.
21 st day of MAY
Passed
By
By:
Rachel Dominguez,
Dominguez. Secretary
Secretary
Rachel
Cal Poly
of Directors
Directors
Foundation Board
Board of
Pomona Foundation
Polv Pomona
15
15
2015 SUMMER 4/10 WORK SCHEDULE FOR FOUNDATION
th
th
Starts June 15 and Ends September 4
Week of:
Monday
Tuesday
Wednesday
Thursday
Friday
15 - 19
10
10
10
10
Off
22 - 26
10
10
10
10
Off
29 – 7/3
8
8
8
8
Holiday
6 - 10
10
10
10
10
Off
13 - 17
10
10
10
10
Off
20 - 24
10
10
10
10
Off
27 – 31
10
10
10
10
Off
3-7
10
10
10
10
Off
10 - 14
10
10
10
10
Off
17 - 21
10
10
10
10
Off
See (F) below.
24 – 28
10
10
10
10
10
Aug/Sep
See (F) below.
31 - 4
10
10
10
10
10
September
7 - 11
Holiday
8
8
8
8
June
July
August
Notes
A. The normal schedule is 7:00AM to 6:00PM. The standard one hour meal period is from noon
until 1:00PM (a minimum 30 minute meal period is required for nonexempt employees).
However, a unit may have different work hours to support their operational commitments as
determined by the respective unit Director, and with prior approval from the Executive Director.
B. Working beyond the 10 hour shift requires a second meal period of at least 30 minutes for
nonexempt employees.
C. When sick or vacation time is used it will be paid on an hour-for-hour basis for nonexempt
employees. I.e.: an employee takes a paid vacation day and will receive 10 hours of paid
vacation.
D. Newly hired employees are subject to this schedule provided they are part of a department that
adopted the alternate workweek schedule.
E. Foundation will make a reasonable effort to find a work schedule which does not exceed eight
hours in a day for employees who are unable to work the 4/10 summer schedule.
F. Employees will work only 4 ten hour days during this week however, department coverage is
needed from 8 – 5 all week. To accommodate the coverage levels, some employees will be off
on Friday and others will be off on Monday, and this will be determined at the unit level.
G. For questions about the above schedule please contact Dennis Miller at extension 2958.
16