CC regents renew bank depository

Clarendon College Regents dismissed the recommendation of the administration last week and renewed CC’s depository with Herring Bank.

Vice President of Administrative Services Rit Christian presented three proposals for the college’s bank depository during a called meeting of the Board of Regents July 18. Banks submitting proposals were Herring Bank, the Donley County State Bank, and Happy State Bank.

Christian called attention to rates for two-year CDs over $100,000 and said Donley County’s rate was 1.5, Herring’s rate was 1.26, and Happy’s rate was 2.2.

Regent Jerry Woodard, who is the president of Herring Bank in Clarendon, said Herring rates are “fixing to move” and that some adjustments have already been made.

Christian also discussed a liability of $35,000 from the Department of Education for an ATM not being available free of charge for CC students in Childress, which is a service not currently made available by Herring in that location.

Christian recommended the board go with the Happy State Bank proposal.
Regent Tommy Waldrop asked how much money was being talked about, and Christian replied that the college had $1.2 million on deposit in June.

Regent Edwin Campbell asked Christian to explain his recommendation, and Christian pointed to Happy having ATMs in Clarendon, Pampa, and Childress; Happy’s desire to work with education institutions and the bank’s subsequent waiving of fees for the college, and Happy’s offer to give free checking accounts to CC students.

Woodard said the difference comes down to Herring not having an ATM in Childress, and he spoke about Herring’s support of the college on a daily basis.

Waldrop said he couldn’t imagine banking outside of Donley County and then he later made a motion, seconded by Regent Susie Shields, to keep the depository with Herring Bank. The board voted 6-0-1 in favor of the motion with Woodard abstaining. Regents Bill Sansing and Darlene Spier were absent.

Regents also reviewed proposals for insurance coverage and accepted Christian’s recommendation to stay with TASB for coverage as the best proposal despite higher deductibles due to roof claims in the area.

The college’s investment policy was approved as presented, and regents appointed Woodard to the college’s investment committee.

The food service agreement with Great Western Dining was approved for 2018-2019 with a minimal increase due to rising costs.

In his president’s report, Dr. Robert Riza discussed working with the IRS on certain 2014 W2 forms that were not received by the government even though they were sent by the college and working with the Department of Education on student promissory notes made between 1968 and the early 1980s.

Also last week, the Board of Regents held its regular July meeting at the CC Childress Center where they ratified the new hires of Alyssa Oates as Ag Instructor / Equine Judging Coach, David Saffo, as English Instructor, and also acknowledged the resignations of Brent Childers, Industrial Maintenance Instructor and Clifton Burrows, Pampa Maintenance.

In his president’s report at that meeting, Riza introduced Kim Jones from Judge Jay Madden’s office and Jennifer Foster with State Sen. Charles Perry’s office.

Riza also reported that the college had received its official letter from the Southern Association of Colleges & Schools that everything is in the clear for CC’s accreditation, and he reported that two Childress foundations are helping students in that county with dual credit expenses.