Feather River College Board and Foundation Discuss Changes for DormsFeather Publishing7/28/2010
At its regular meeting July 15, the Feather River College Board of Trustees discussed possible changes in the management structure at the Feather River College residence halls.
The Feather River College Foundation operates the residence halls. The trustees understood any changes would require the assent of the college foundation.
A request for funds from the college's forest reserve triggered the discussion to help the foundation meet debt service requirements and resolve cash flow issues. Emergency repairs to the facilities, in part, caused cash flow issues last winter.
Ron Groh, financial consultant to the foundation, responded to questions from trustees, giving a brief update on the status of the roof replacement project at the facilities, financed by a loan from the college. He said the project was going very well and was under budget.
Given the fact the roof project was coming in under budget, trustees determined the emergency allocation to the foundation would be made from those previously allocated funds, rather than providing additional funds from the forest reserves.
The trustees stipulated a $70,000 limit to the allocation and added a further condition for the college president to initiate discussions with the foundation towards a management services agreement, under which the college itself would manage the residence halls.
The trustees' action was reported at the foundation's board meeting July 22, with a motion by the foundation board to move quickly to formulate an agreement that would allow the college to manage the residence halls, pending all necessary approvals.
College president Ron Taylor said he looked forward to starting discussions; he was pleased with progress made on the roof replacement project and with the cooperative spirit between the foundation and the college.
"There is every reason to believe in a bright, solid fiscal future for the residence halls operation."
Foundation board president Kris Miravalle was also upbeat and said, "Letting the college manage the dorms will free the foundation up to concentrate on our primary goals of raising money and creating programs in support of the college."
A working committee will move forward toward a management services agreement. Officials expect more information to be available in the next few weeks.
Community members interested in participating in the community host program may contact Karen Paiva at the college at 283-0202 or Kris Miravalle at the Bank of America, Quincy branch, 283-6600.