Development Corporation (KEDC)
Regular Board Meeting
Wednesday,
October 17, 2007 3:00 – 5:00 PM
Hyatt
Regency downtown, Lexington,
Ms. Kelley Crain, CHAIRWOMAN
BUSINESS SESSION AGENDA
1.
Call to Order/Confirm Presence of Quorum (>25% requires 17 of 64 voting
members)
2. Executive Committee Report
& Recommendations – Mr. Coy Samons
3. Actions By Consent
3.1. Approval of Minutes
Recommend
approval of the attached minutes
of the September 19-20, 2007 regular meeting.
3.2.
Approval of Financial Report
and Orders of the Treasurer
Recommend
approval of the financial
reports for September 2007 and the Orders
of the Treasurer for the period of September 1 through September 30, 2007.
3.3. Personnel Report
Recommend
that the Board acknowledge receipt of the Executive Director’s Report on
Personnel Actions as follows:
3.3.1.
Employed Donnie
Osborn, Martin County Adult Education Instructor, for 1400 hours to be paid
from the KEDC Family Lit/ABE/GED Salary Schedule at Class 3, Step 0, effective September 18, 2007.
3.4. Collective Bidding
3.4.1. Recommend acknowledgement of the Executive Director’s
approval of bid contracts with the following list of vendors from the CLS2007.015
Catalog/Price List/Store Shelf bids which were opened and made effective on September
10, 2007. We received 34 bids for
CLS2007.015, of which 19 have been awarded, and 15 were rejected.
|
Supplier
Name |
Napa
Auto Parts |
|
B
& H Foto & Electronics Corp. |
Olympia
Sales |
|
Capstone
Press, Inc |
Picture
Window Books, Llc |
|
Children's
Library Resources |
Proforma |
|
Compass
Point Books, Inc |
Ready
Business Machines |
|
Creative
Promotional Solutions |
Red
Brick Learning, Llc |
|
Eastgate
Ink&Toner |
Sharp
Promotional Products |
|
J.P.
Cooke Co. |
Stone
Arch Books, Llc |
|
Kentucky
Specialties, Inc. |
Thomas
Recreation Equipment, Inc. |
|
Lexington
Printing |
Toadvine
Enterprises |
3.5. Passenger Van Bid – MV-2007-08
KEDC received bids from
four vendors for the 2007 Dodge Grand Caravan SXT minivan bid invitation, bid
reference number MV-2007-09. The bid was
evaluated based on cost, deliverability, and warranty. Bids were received from:
·
Hamilton-Fairfield
Dodge Jeep, 2007 Dodge Grand Caravan SXT, $21,942.00
·
Jeff Wyler
Chrysler Jeep Dodge, 2007 Dodge Grand Caravan SXT, $22,736.00
·
McClusky Chevrolet,
2007 Chevrolet Uplander LT, $25,400.00
·
Superior Chrysler
Dodge Jeep, 2007
(Invalid submission, no signed Statement
of Submission enclosed with bid)
Recommend acknowledgement of the Executive Director’s acceptance
of Hamilton-Fairfield Dodge Jeep’s low bid for two 2007 Dodge Grand Caravans
SXT for $21,942.00 each.
3.6.
Contract Approvals
Recommend
approval of the following contracts and agreements (contract period is for
FY2007-2008 unless otherwise noted):
General Fund
3.6.1.
El
Hasa Temple – P-16 Ashland Regional College Fair - $400.00
3.6.2.
Hyatt
Regency Lexington – October 14, 2007 – Math Alliance Meeting
3.6.3.
Ramada
Conference Center Lexington – PD Meeting November 8, 2007
Adult
Education
3.6.4.
Council
on Postsecondary Education – KY Adult Ed Contract - $1,147,662.00
Wilderness
Trail Educational Cooperative
3.6.5.
Kentucky
Department of Parks Group Contract – September 4, 2007 Meeting
4.
Actions with Discussion
4.1. Line of Credit
Recommend authorization to establish and be the
signatory for a $500,000 line of credit with First & Peoples Bank of
Russell, Kentucky to cover cash flow needs due to the large amount of
receivables. The current receivables of
$1,205,000 include $340,000 due from the state Adult Ed programs plus
approximately $600,000 due from USF funded technology projects. Adult Education was three and one/half months
into the year when they paid us last year and we are again three and one/half
months into this year and we have not received any AE funds. The USF has historically been very slow in paying
KEDC and the districts funds due for completed projects. Our carryover balance normally covers our
cash flow needs but the line of credit is needed to assure that payrolls are
met and that we can pay our bills. Our
cash balance as of October 15 is approximately $57,000 and we are holding
vendor bills unpaid. The October 31
payroll will require more than $100,000.
5. Communications and Other
Items
5.1. Staff Reports
Written
Staff
Reports will be provided in the board packets.