HomeMy WebLinkAbout12-19-05 TSHA Min TEXAS1W
STUDENT '�' HOUSING
MINUTES OF THE
BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE)
DECEMBER 14, 2005
PRESENT: President Jinn Carter and Board Members Jac Irvine, Crary Fickes, Chuck Schultz,
Jill McKean, and Larry Darlage
ABSENT: Board Member Becky Rogers
OTHERS PRESENT: Executive Director Hank Smyth, Finance Manager Pete Ehrenberg,
Secretary Jean Dwinnell, Julie Bonin with Asset Campus Housing,
Bill Haycraft with Easley, Endres, Parkhill, & Brackendorff, P. C.,
and Bob Loritz with Weaver& Tidwell, L.L.P.
1. CALL TO ORDER.
President Carter called the meeting to order at 5:45 p.m.
2. DISCUSS AND CONSIDER APPROVAL OF CAMBRIDGE PROPERTY
ANNUAL AUDIT FOR FY 2004-2005 PRESENTED BY EASLEY,ENDRES,
PARKHILL, & BRACKENDORFF, P.C.
Mr. Bill Haycraft, CPA, representing Easely, Endres, Parkhill, & Brackendorff, P.C., reviewed
the proposed audit. Mr. Haycraft commended Asset Campus on their working relationship with
the auditors and advised the Board that Asset Campus keeps "clean records," and is a good group
to work with. He recommended the Board consider a formal agreement regarding the forgiven
interest on construction loans.
Ms. Julie Bonin representing Asset Campus Housing, advised the Board that Cambridge is 18%
pre-leased for the fall of 2006, that an approximate 5% rate increase was effective November 1,
2005, and that several summer camps, sponsored by the University, have been planned for 2006.
Mr. Fickes moved, Ms. McKean seconded the motion to accept the annual Audit of the
Cambridge Property for FY 2004-2005 as presented.
There was no discussion and President Carter declared the motion carried unanimously.
3. DISCUSS AND CONSIDER APPROVAL OF AUTHORITY ANNUAL AUDIT
FOR FY 2004-2005 PRESENTED BY WEAVER AND TIDWELL,L.L.P.
Mr. Bob Lawrence, representing Weaver and Tidwell, L.L.P., reviewed the proposed audit and
advised the opinion is unqualified (good). Mr. Lawrence suggested there be more oversight
regarding the finances.
Executive Director Hank Smyth explained the recent appointment of Board member Jac Irvine as
Treasurer was for the purpose of more financial oversight.
Mr. Irvine moved,Mr. Darlage seconded the motion to accept the annual Audit of the Authority
for FY 2004-2005 as presented.
There was no discussion and President Carter declared the motion carried unanimously.
4. DISCUSS AND CONSIDER APPROVAL OF SECURITY CONSULTANT.
Executive Director Hank Smyth explained the need for a Security Consultant and reviewed the
proposals he received. He advised that there are three police officers living on site at the Denton
property and two at Ballpark in Austin. Mr. Smyth recommended hiring Don Underwood
Security and advised that there are no monies for this endeavor except in the Authority (Home
Office) budget.
Mr. Schultz moved, Ms. McKean seconded the motion to hire Don Underwood Security to
provide an oral report through the Board's legal counsel prior to the preparation of a written
report.
There was no discussion and President Carter declared the motion carried unanimously.
S. COMPENSATION COMMITTEE REPORT.
Board member Jac Irvine reviewed the discussion and action of the Committee meeting held
November 11, 2005.
It was the consensus of the Board to use the Committee's recommendations regarding
compensation levels for the TSH Director and Chief Financial Officer:
6. EXECUTIVE DIRECTOR'S REPORT.
Executive Director Hank Smyth reviewed his report as presented, advised that the 2006
scholarship applications had begun to arrive, and advised that he had presented the Texas
Student Housing Scholarship program in several locations across the State.
7. FINANCE DIRECTOR'S REPORT.
There was nothing to report.
S. DISCUSS AND TAKE ANY NECESSARY ACTION ON EXECUTIVE
DIRECTOR'S AND/OR FINANCE DIRECTOR'S REPORT.
There was no action to be taken.
9. CONSENT AGENDA: All items listed below are considered routine by the Board and
will be enacted with one motion. There will be no separate discussion of items unless a
Board member or citizen so requests, in which event the item will be removed frorn the
general order of business and considered in its normal sequence.
A. Review and approve minutes of meetings held on September 27, 2005 and November
7, 2005
B. Review and approve any outstanding bills.
Mr. Darlage moved, Mr. Schultz seconded the motion to approve the minutes of the Board held
on September 27, 2005.
There was no discussion and President Carter declared the motion carried unanimously.
Mr. Fiches moved, Ms. McKean seconded the motion to approve the minutes of the
Compensation Committee meeting held on November 7, 2005.
There was no discussion and President Carter declared the motion carried unanimously.
There were no bills to consider.
10. ADJOURN.
There being no further business,President Carter declared the meeting adjourned at 7:40 p.m.
The Minutes are approved and certified to be a true and correct reflection of the actions of the
officers and members of the Board, and is hereby certified to be an official copy thereof, on file
among the official records of the Board, on this the day of 12006.
J' r, President
ATTEST:
Je winnell, Secretary