HomeMy WebLinkAbout01-24-06 TSHA Min EXAS101
STUDENT HOUSING
MINUTES OF THE
BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE)
JANUARY 24, 2006
PRESENT: Vice President Becky Rogers and Board Members Jac Irvine, Jill McKean (arrived
at 6 p.m.), Gary Fickes, Larry Darlage, and Chuck Schultz
ABSENT: President Jim Carter
OTHERS PRESENT: Executive Director Hank Smyth, Finance Manager Pete Ehrenberg,
Secretary Jean Dwinnell, General Counsel Scott Bradley, and Trish
Fritsche and Kerry Caves with Weaver and Tidwell, L.L.P.
1. CALL TO ORDER.
Vice President Becky Rogers called the meeting to order at 6:33 p.m.
2. DISCUSS AND CONSIDER APPROVAL OF BALLPARK PROPERTY ANNUAL,
AUDIT FOR FY 2004-2005 PRESENTED BY WEAVER AND TIDWELL,L.L.P.
Ms. Fritsche with Weaver and Tidwell, L.L.P., reviewed the auditor's opinion letter and the
statement of net assets. She advised that the Authority is not in default on the Ballpark bonds at
this time.
Discussion ensued regarding the interest on the bonds and a longer review time for the audits in
the future.
Mr. Darlage moved to approve the Ballpark Property Annual Audit for FY 2004-2005 as
presented.
Ms. McKean seconded the motion.
The vote on the motion was as follows:
Ayes: Messrs. Darlage, Irvine, Fickes, Schultz, and Ms. McKean and Rogers
Nays: None
Vice President Rogers declared the motion carried unanimously.
3. DISCUSS AND CONSIDER APPROVAL OF TOWNLAKE ANNUAL AUDIT FOR
FY 2004-2005 PRESENTED BY WEAVER AND TIDWELL, L.L.P.
Ms. Fritsche with Weaver and Tidwell, L.L.P., reviewed the auditor's opinion letter and the
statement of net assets.
Discussion ensued regarding the restructuring of the debt service, diligence of the auditors, and
consideration of auditors for FY 2005-2006.
Mr. Fickes moved to approve the Townlake Property Annual Audit for FY 2004-2005 as
presented.
Mr. Schultz seconded the motion.
The vote on the motion was as follows:
Ayes: Messrs. Darlage, Irvine, Fickes, Schultz, and Ms. McKean and Rogers
Nays: None
Vice President Rogers declared the motion carried unanimously.
4. EXECUTIVE DIRECTOR'S REPORT.
Mr. Smyth reviewed the report as presented.
Discussion ensued regarding the need for a February meeting, scholarship awards, considering the
addition of some "full" scholarships, and pending confirmation of waivers from Texas State and
University of North Texas.
5. FINANCE DIRECTOR'S REPORT.
Mr. Ehrenberg advised that he would send the September—November revenues and expenditures
for each of the properties to the Board members by e-mail.
C. DISCUSS AND TAKE ANY NECESSARY ACTION ON EXECUTIVE
DIRECTOR'S AND/OR FINANCE DIRECTOR'S REPORT.
There was no action necessary.
7. REVIEW AND APPROVE MINUTES OF BOARD MEETING FIELD
NOVEMBER 14,2005.
Mr. Fickes moved to approve the Minutes of the Board meeting held November 14, 2005, as
presented.
Mr. Irvine seconded the motion.
The vote on the motion was as follows:
Ayes: Messrs. Darlage, Irvine, Fickes, Schultz, and Ms. McKean
Nays: None
Abstain: Ms. Rogers
Vice President Rogers declared the motion carried unanimously.
8. REVIEW AND APPROVE ANY OUTSTANDING BILLS.
Mr. Smyth advised that the Authority had received two invoices from the Town of Westlake, one
for 2005 and one for 2006 each in the amount of$50,000.
Mr. Bradley, General Counsel, advised that these funds would be earmarked for Westlake
Academy Building Fund,
Mr. Irvine moved to approve the two invoices in the amount of$50,000 each.
Mr. Darlage seconded the motion.
The vote on the motion was as follows:
Ayes: Messrs. Darlage, Irvine, Fickes, Schultz, and Ms. McKean and Rogers
Nays: None
Vice President Rogers declared the motion carried unanimously.
9. ADJOURN.
There being no further business, Vice President Rogers declared the meeting adjourned at 7:24
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 r , 2006.
B eky Roge i e Pre ent
AT EST:
7
c
Je f Dwinnell, Secretary