HomeMy WebLinkAbout09-16-03 TSHA Min MINUTES AND CERTIFICATION
On September 16, 2003, the Board of Directors (the `Board") of the Texas
Student Housing Authority convened in a public meeting at the designated meeting place
in Westlake, Texas. The roll of the duly constituted officers and members of the Board
was called, which are as follows:
Name Title
James P. Carter President
Worth Blake Vice President
Jac Irvine Member
Dr. Forrest Watson Member
Becky Rogers Member
Dr. John Brooks Member
Michelle Corson Member
all of whom were present except Dr. Watson, and Dr. Brooks. Also present were: Mr.
Scott Bradley, Mr. Allen Moon, Mr. Hank Smyth, Mr. Pete Ehrenberg, Mr. Matthew
Reiter and Ms. Ginger Crosswy.
Vice President Blake called the meeting to order at 5:55 p.m.
Mr. Blake asked the new member, Jac Irvine, to introduce himself to the Board and
all of the Board members to introduce themselves to Mr. Irvine. President Carter
arrived during this time and assumed the chair. Mr. Smyth introduced Mr. Ehrenberg as
the new Finance Manager.
Mr. Smyth introduced Mr. Matthew Reiter who is with Whitley Perm. Mr. Reiter
presented the draft audits for the Ballpark project and the San Marcos project stating that
the audits are finished except for the representation letter from JPI. After several
questions there was a motion by Mr. Blake, seconded by Ms. Corson, to approve the
financial statements for the San Marcos project with the condition Whitley Penn receives
an acceptable letter of representation from JPI. Whitley Penn was asked, on subsequent
invoices, to break out the amount charged for the accounting work they had to
subcontract because it was not done by JPI. There was a lengthy discussion in which the
Board asked for a copy of the representation letter signed by Allen Moon and Hank
Smyth on behalf of Texas Student Housing. The motion carried unanimously.
There was a motion by Mr. Blake, seconded by Ms. Rogers,to approve the financial
statements for the Ballpark project with the condition Whitley Penn receives an
acceptable letter of representation from JPI. After a short question and answer session
the motion carried unanimously.
The,meeting was recessed at 6:54 p.m. and reconvened at 7:20 p.m. Mr. Reiter
left during this recess.
There was a motion by Ms. Rogers, seconded by Mr. Blake, to approve the
minutes of the meeting held on August 5, 2003 as presented. After a short discussion the
motion carried unanimously with Mr. Irvine abstaining.
Mr. Smyth explained the charts that had been made for the Board's examination.
He also told the Board the budget for the TSH entities is in progress and not ready for the
Board's consideration due to the fact the occupancy figures given by JPI have changed
since the school year has begun.
Mr. Smyth told the Board the organizations he tried to get the Board's O&E
insurance through had turned him down and he was in the process of obtaining a quote
from the company that carried it last year. When asked how long the current policy is in
effect his answer was until the end of this month. There was a motion by Mr. Irvine,
seconded by Mr. Blake, to authorize Mr. Smyth to secure insurance for the Board with a
$35,000.00 cost limit. If the amount goes over this he is to bring it back to the Board.
Mr. Smyth was asked to purchase at least 2 million dollars in coverage. There was no
further discussion and the motion carried unanimously.
Consider and take any necessary action regarding bills and other financial matters.
There was a motion by Ms. Corson, seconded by Ms. Rogers, to pay a bill from Goins,
Underkofler, Crawford & Langdon in the amount of $275.00 for work done on the
Marbach case, an invoice from Allen Moon in the amount of$4250.00 for work done in
August, a bill from the Town for the secretary's time during August in the amount of
$1050.00. There was no discussion and the motion carried unanimously. There was a
motion by Mr. Blake, seconded by Ms. Corson, to pay bills from Whitley Penn in the
amount of$9716.33. There was no discussion and the motion carried unanimously. All
of the invoices are to be paid as funds become available.
President Carter commented on the reception given for the students and their
parents on August I I"' and thanked everyone for their help and making this a success.
There bein,no further business the meeting was adjourned at 7:55 p.m.
MINUTES APPROVED AND CERTIFIED TO BE TRUE AND CORRECT and
to correctly reflect the duly constituted officers and members of the Board, and is hereby
certified to be a correct copy of an official copy thereof, on file among the official records
of the Board, on this the 6"' day of November, 2001:
ATTEST: Jame Y. Carter,President`
Grngei�Crosswy, Secretal�