Bill Summary for Bill Number Consideration of Two-Year Projections of Cash Need

Date: 01/26/2012

Final
Consideration of Two-Year Projections of Cash Need

COMMITTEE ON CAPITAL DEVELOPMENT

Votes: View-->	Action Taken:
Approve the two-year projection of cash need list Approve the two-year projection of cash need lists	PASS PASS

08:30 AM -- Consideration of Two-Year Projections of Cash Need

Ms. Donaldson provided background on approving the two-year projection of cash need lists from the following higher education institutions or systems: Community Colleges, Colorado Mesa University, Colorado School of Mines, and the University of Northern Colorado. Committee members received a packet of two-year projection of cash need lists for these institutions (Attachment A). Discussion ensued regarding certain projects on these lists that are subject to the Higher Education Revenue Bond Intercept Program. Mr. Dan Krug, Director of Assets and Compliance, Department of Higher Education, provided input regarding the process for raising funds for and initiating the capital construction projects that are on an approved two-year projection of cash need list. He also responded to questions regarding the approvals required for higher education institution capital projects to be eligible for the bond intercept program. Ms. Donaldson clarified the process by which higher education institutions access the bond intercept program, and further explained the committee's oversight of this process. Discussion ensued about the bond intercept program process and the program's oversight. The committee also discussed the potential for amending its motion to approve a two-year list to require additional committee approval should a project's funding status change with respect to the bond intercept program. Mr. Mark Superka, representing Colorado Community Colleges, responded to questions regarding funding for the projects on the community colleges two-year list, and the process by which Community Colleges finance constituent institutions and accumulate institutional financial reserves.

08:44 AM

Discussion continued regarding the community colleges system financing arrangements, and the potential for including community colleges that are funded through mill levies in the state's capital construction process.


BILL:	Consideration of Two-Year Projections of Cash Need
TIME:	08:45:00 AM
MOVED:	Brown
MOTION:	Approve the two-year projection of cash need list for the Community Colleges and Occupational Education System, while requiring additional future approval by the committee for projects that undergo a change in funding arrangements. The motion passed on a vote of 3-1.. The motion passed on a vote of 3-1.
SECONDED:
		VOTE
	Brown	Yes
	Renfroe	No
	Schwartz	Excused
	Vigil	Yes
	Sonnenberg	Excused
	Bacon	Yes

























Final YES: 3 NO: 1 EXC: 2 ABS: 0 FINAL ACTION: PASS


BILL:	Consideration of Two-Year Projections of Cash Need
TIME:	08:45:53 AM
MOVED:	Brown
MOTION:	Approve the two-year projection of cash need lists for Colorado Mesa University, Colorado School of Mines, and University of Northern Colorado, while requiring additional future approval by the committee for projects that undergo a change in funding arrangements. The motion passed on a vote of 4-0.. The motion passed on a vote of 4-0.
SECONDED:
		VOTE
	Brown	Yes
	Renfroe	Yes
	Schwartz	Excused
	Vigil	Yes
	Sonnenberg	Excused
	Bacon	Yes

























Final YES: 4 NO: 0 EXC: 2 ABS: 0 FINAL ACTION: PASS

08:46 AM

The committee adjourned.