WC receives favorable audit, economic impact report
Weatherford College received a favorable 2021-22 financial audit and a report on the college's impact on the North Texas economy during their December meeting this week.
Kathy Williams with Snow Garrett Williams presented the audit with clean opinions on all reports. During the last fiscal year, WC saw increases of $9 million in capital assets and $12.2 million in net position.
“There are a lot of moving parts, and this budget is becoming increasingly complex,” said President Tod Allen Farmer as he gave accolades to the business office. “They are doing a wonderful job of managing all of these diverging interests.”
WC faculty member and sociologist Dr. Tasha Brown presented the 2021 economic impact study to the board.
"Today, I’m excited to share with you direct evidence of WC’s positive economic impact on the DFW community,” she said.
John Jones, executive director of institutional research, led the study and utilized the Economics Research Group at the University of North Texas, which found WC contributed $139 million to the North Texas economy in 2021.
The study also found that WC supported 1,118 jobs in the North Texas economy, generated $5.3 million in state and local tax revenue and another $12.4 million in federal tax revenue. The college also generated $4.6 dollars in local economic activity for each dollar it received in state and local appropriations.
“Sometimes we forget, not only does a college like this greatly contribute to the standard of living and quality of life we all enjoy in this community, but it is also a big economic driver for the community,” said board member GB Bailey.
In his President’s Report, Farmer:
- Announced that members of the defending national champion WC women’s rodeo team were present at the meeting to make a national championship ring presentation to the board.
- Congratulated Vance Christie and his army of volunteers who hosted the recent Leadership Development Event sponsored by the Texas FFA, which brought hundreds of students to campus.
- Congratulated the nationally-ranked Coyote men’s basketball team.
- Announced the resignation of Jessica Killman, public safety programs specialist, and the retirement of Lori Marchman, physical sciences instructor.
- Announced that all trustees are current on their required board training except Bailey, who has a year to complete his full-day orientation as a new board member.
- Provided an enrollment update for the Spring 2023 semester, currently up 120 students from last year.
In other business, the board:
- Approved the minutes from the Nov. 10 meeting.
- Approved the financial reports ending Nov. 30.
- Approved the quarterly investment report.
- Approved the annual review of the CAK local policy on appropriations and revenue sources – investments.
- Approved the 2022-23 academic calendar.
- Approved a resolution to authorize an interlocal cooperative purchasing agreement with ESC Region 19 Allied State Cooperative.
- Received a written academics and student services update, which included information that all 15 students in the BAAS in Organizational Leadership program are progressing towards graduation in May 2023.
- Received reports on the WC Honors program, Phi Theta Kappa honor society and the National Society of Leadership and Success. Michelle Burt reported the Honors Program graduated its first six members in May 2022 and anticipates another 16 graduates in 2023.
- Received a report on a TASB salary study.
- Received a report from the Parker County Historical Commission on procuring a Texas Historical Marker for the Comte Paul De Bresson Stable located at the college farm on FM 51 South.