HomeMy WebLinkAbout12-06-16 TSHA Min TEXAS
STUDENT . HOUS'ING
MINUTES OF THE MEETING OF
THE BOARD OF DIRECTORS OF THE
TEXAS STUDENT HOUSING AUTHORITY
(AN INSTRUMENTALITY OF THE TOWN OF WESTLAKE) HELD December 6, 2016
99 Trophy Club Drive
Trophy Club, TX 76262
PRESENT: Board members Scott Bradley, Mark Harrow, Bryant Fisher, Trish
Howard& Executive Director Tracy Schornack.
OTHERS PRESENT: Jason Fort, Sr. VP Operations at Asset Asset Campus Housing; and
John DeBurro of Weaver and Tidwell via phone conference.
1. CALL TO ORDER
President Bradley called the meeting to order at 6:03 p.m.
2. REVIEW AND APPROVE MINUTES FOR THE MEETING ON October 4, 2016.
DISCUSSION: Director Fisher made a motion to approve the minutes of the
October 4., 2016 meeting. Director Harrow seconded the motion.
The motion carried by a vote of 5-0.
3. REVIEW AND DISCUSS CAMBRIDGE INCREMENTAL COST PER BED
CALCULATION FOR THE CAMBRIDGE PROPERTY WITH ASSET CAMPUS
HOUSING AND THE AUTHORITY'S AUDITORS FOR BUDGET PURPOSES AND
TAKE ACTION TO AMEND CAMBRIDGE'S 2016/17 ANNUAL BUDGET IF
NECESSARY.
DISCUSSION: 1) The Management Agreement with Asset Campus Housing
provides for a base fee plus a percentage fee equal to 2.4 %,
limited to a maximum of 6% for the combined fee. The auditors
record the percentage fee but then reverse that entry at the end of
the year.
2) Unpaid Management Fees for the Fiscal Years Ending August
31, 2014 and 2015 are based upon the difference between the
Incremental Cost Per Bed as calculated by Asset Campus Housing
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($292/bed) and the actual rent paid by the Scholarship Student; and
for the 2016 months already passed, the Incremental Cost Per Bed
is calculated at $340/bed.
3) Going forward the Incremental Cost Per Bed will be calculated
at $340 per month. There currently are 68 Scholarship Students.
Jason Fort stated that occupancy was calculated off of the number
of parking spaces (530) vs. actual number of beds (565).
Next steps include a conference call as soon as possible among
Executive Director Schornack, Jason Fort, Randall Hussman, Scott
Bradley and Mark Harrow to discuss payment issues.
MOTION: Director Harrow moved to direct Asset Campus Housing to pay the
finds belonging to Texas Student Housing Authority collected by
Asset Campus Housing in the operating budgets for Fiscal Years
Ending 8/3 1/2015 and 8/31/2016, respectively, aggregating
$339,168.80. Director Fisher seconded the motion. After
discussion, the motion passed unanimously.
4. RECEIVE 2017 BUDGET FOR THE AUTHORITY FROM EXECUTIVE DIRECTOR
TRACY SCHORNACK. TAKE ACTION AS NECESSARY.
DISCUSSION: Executive Director presented the 2016-201.7 budget for the
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Authority and discussed variances from the prior year.
MOTION: Director Bradley made a motion to approve the budget for FYE
August 31, 2017 as presented. Director Fisher seconded the
motion. The motion carried by a vote of 5-0.
5. RECEIVE UPDATE FROM BRYANT FISHER REGARDING WESTLAKE ACADEMY
CAPITAL IMPROVEMENT ASSISTANCE.
Director Fisher discussed his latest meeting with Westlake Academy
regarding capital improvements.No action to be taken yet.
6. ADJOURN.
Meeting adjourned at 8:45 p.m.
APPROVED by the Texas Student Housing Authority Board of Directors on
�J Ail. ,4 4 Y 17 , 201f7
i
Scott Bradley, President
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ATTEST:
Trish Howard, Secretary
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