Minutes 04/03/2003

A telephonic meeting of the Maricopa County Community College District Governing Board was scheduled to be held at 10:00 a.m. at the District Support Services Center, 2411 West 14th Street, Tempe, Arizona, pursuant to A.R.S. §38-431.02, notice having been duly given.

PRESENT

GOVERNING BOARD

Ed Contreras, President
Linda Rosenthal, Secretary
Don Campbell, Member
Nancy Stein, Member
Gene Eastin, Member

ADMINISTRATION

Rufus Glasper for Fred Gaskin
Anna Solley
Ron Bleed
Pete Kushibab
Jeff West

STATE BOARD
Nick Balich, Absent

CALL TO ORDER

The meeting was called to order at 10:00 a.m. by President Ed Contreras.

EXECUTIVE SESSION

No executive session was held.

APPROVAL OF THE AGENDA

President Contreras requested a motion to approve the agenda.

MOTION NO. 9156

Linda Rosenthal moved that the Governing Board agenda be approved. Motion carried 5-0.

ACTION

(A-1) Approval of Minutes of Banking Services Contract with Wells Fargo Bank, Arizona

MOTION NO. 9157

Linda Rosenthal moved that the proposed Banking Services Contract with Wells Fargo Bank, Arizona be approved.

Mrs. Stein requested time for discussion, during which time she asked why we were just moving for the change in banking services now, in view of the fact that the previous contract with Bank One had expired in 2000.

Executive Vice Chancellor Rufus Glasper commented that at the time banking services contract with Bank One, Arizona expired in 2000 the Controller for MCCCD had just accepted a transfer to Phoenix College and her replacement, Jeff West, had just been hired. Also, MCCCD was in the process of converting to GASB 35 and CFS llI. In addition, during that year, the manager of Treasury Tax and Audit who was responsible for negotiating with potential banks resigned in August. These circumstances resulted in negotiations being delayed. Dr. Glasper stated that there was no major sense of urgency because services were still being provided by Bank One, although they did increase their fees.

With the completed installations of GASB 35 and 11I, and new staffing, it was decided to move ahead with this project. The need for this special meeting was requested in order to put things in place by the new fiscal year date of July 1, 2003.

Banking services fees at Wells Fargo will be slightly less ($160,000 versus $181,000). Bank One appeared to not be as receptive to the changes required by MCCCD for special services. Their responsiveness and lack of eagerness to have MCCCD as a client further encouraged looking towards Wells Fargo as the appropriate selection. Wells Fargo made concessions on some of the fees and it is hoped that there will be a reduction in costs and enable operations to become more efficient.

Three banks initially bid, however, one bank was eliminated. The timeliness, uniformity, and professionalism of Wells Fargo were also factors in this decision.

Mr. Eastin commented that he was surprised that Bank One would want to give up the account.

There being no further discussion, President Contreras called for the vote on the motion called for. Motion carried 5-0.

ADJOURNMENT

The meeting adjourned at 10:13 a.m.

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Linda Rosenthal
Governing Board Secretary