WC board receives clean audit, approves Aledo land sale
After what administrators call the most financially successful year in the history of Weatherford College, the WC Board of Trustees received a clean 2020-21 audit at their regular meeting Thursday afternoon.
Kathy Williams of Snow Garrett Williams presented the report to the board and said it’s her favorite audit to work on each year.
Overall, the college’s net assets are up $42 million with $17 million attributed directly to capital improvements.
“It’s been a very business year financially for the college; I know that’s not news to any of you,” Williams said. “You had a lot of improvement going on around the campus. Just a lot of really good, positive things going on right now.”
The audit comes on the heels of WC’s first Financial Transparency Star, awarded in 2020 by the Texas State Comptroller’s Office.
The board also approved the sale of 34 acres of Aledo property, giving President Tod Allen Farmer the authority to execute closing documents with Sunrise Partners, LLC.
The college bought the property years ago as Aledo ISD purchased an adjacent parcel of land for a future high school. AISD is now building a middle school on the site, so the property no longer fits WC’s plans.
Also related to real estate, the board gave President Farmer the authority to seek a recipient for the former Education Center at Mineral Wells property. WC General Counsel Dan Curlee said the property presents air conditioning, asbestos and mold issues and no longer meets the college’s needs. No instructional programs remain at the facility while the college now offers courses at Mineral Wells High School.
In other business the board:
- Approved the minutes of the Nov. 11 board meeting.
- Approved the financial reports ending Nov. 30.
- Approved the quarterly investment report.
- Approved the 2022-23 academic calendar.
- Approved TASB policy update 41.
- Approved to evenly distribute the college’s 320 votes for the Parker County Appraisal District Board of Directors for 2022-23 to candidates Richard Barret, Jerry Durant, Steve Harris, John Hinton, Cody Lane and Sterling Naron.
- Approved a new policy giving the president authority to grant permission for the consumption of wine at select events on the Weatherford campus. The policy, designed for entertaining donors and other visitors on a very limited basis, only offers consumption in certain areas of campus with a requirement to seek approval in each instance.
- Received a written academics and student services update.
- Received an agriculture update from Vance Christie, department chair of agriculture, business and communications.
In his president’s report, Farmer:
- Congratulated Dr. Philip Mathew on the publication of his new book “Finding Leo: Servant Leadership as Paradigm, Power, and Possibility.”
- Reported on former WC President J.C. Nichols’ recent visit to the WC campus.
- Provided an update on the Emerging Technologies and Workforce Building as it nears completion, both on time and under budget. A soft opening will occur in January with a public open house later in the spring. The new parking lot across the street will be available for use at the beginning of the spring semester.
- Announced the resignation of Ryan Dickerson, student life coordinator.