December 11, 2015 NOTICE TO RESIDENTS OF THE MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT, WISCONSIN

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1 MATC Vision MATC is the premier, comprehensive technical college that provides excellence in education to enrich, empower and transform lives in our community December 11, 2015 NOTICE TO RESIDENTS OF THE MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT, WISCONSIN A regular open meeting* of the MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT BOARD, WISCONSIN, will be held in the BOARD ROOM, ROOM M210, of MILWAUKEE AREA TECHNICAL COLLEGE, 700 WEST STATE STREET, MILWAUKEE, WISCONSIN, on TUESDAY, DECEMBER 15, 2015 beginning at 5:00 P.M. The agenda** for said meeting is presented as follows: A. Roll Call B. Compliance with the Open Meetings Law C. Approval of Minutes C-1 Regular Board Meeting: November 24, 2015 D. Comments from the Public E. Approval of Consent Agenda Items FPO-2 Bills November 2015 Bills By Check Number Bills By Payee Bills Channels 10/36 Bills Checks Exceeding $2,500 Bills Voided Checks FPO-3 Financial Report November 2015 FPO-4 FPO-5 Human Resources Procurement Report I. External Contracts None.

2 II. Procurements Robotic Educational Systems ABB, Inc. Auburn Hills, MI $137, III. Contracts for Services None. F. Chairperson s Report Information Item IV. Construction Contracts RENOVATION AND REMODELING DMC Classroom, Corridor & Flooring Improvements-FY16 MATC Bid reference NO Absolute Construction Enterprises, Inc. Racine, WI $ 211, V. Lease Agreements None. F-1 MATC District Board Self-Evaluation Instrument G. President s Report Information Item G-1 MATC Transforming Testimonials Video H. Student Government Report I. Legislative Matters Report J. Public Television Committee Report K. Education, Services, and Student Success Committee Report Information Item ESSS-3 Dashboard Indicators 2

3 L. Finance, Personnel, and Operations Committee Report Action Items FPO-6 Resolution (F ) Authorizing the Sale of $1,500,000 General Obligation Promissory Notes, Series G of Milwaukee Area Technical College District, Wisconsin FPO-7 Resolution (F ) Authorizing the Issuance of 1,500,000 General Obligation Promissory Notes, Series H of Milwaukee Area Technical College District, Wisconsin M. New Business Board members and administration will have an opportunity to identify items that weren't identified prior to the preparation of the agenda for referral to administration or placed on a future board agenda. 1. Future Agenda Items 2. Date of Next Meeting: Tuesday, January 26, :00 p.m. Board Meeting, Downtown Milwaukee Campus, Board Room (M210) N. FCC Spectrum Auction Strategy Considerations*** * This meeting may be conducted in part by telephone. Telephone speakers will be available to allow the public to hear those parts of the proceedings that are open to the public. ** Action may be taken on any agenda item, whether designated as an action item or not. Agenda items may be moved into Closed Session for discussion when it becomes apparent that a Closed Session is appropriate under Section of the Wisconsin Statutes. The board may return into Open Session to take action on any item discussed in Closed Session. *** It is anticipated that this item may be discussed in Closed Session pursuant to Section 19.85(1)(e) of the Wisconsin Statutes. Reasonable accommodations are available through the ADA Office for individuals who need assistance. Please call to schedule services at least 48 hours prior to the meeting. 3

4 C-1 MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT BOARD MILWAUKEE, WISCONSIN November 24, 2015 CALL TO ORDER The regular monthly meeting of the Milwaukee Area Technical College District Board was held in Open Session on Tuesday, November 24, 2015, and called to order by Chairperson Wachholz at 5:02 p.m. in the Board Room, Room M210, at the Downtown Milwaukee Campus of Milwaukee Area Technical College. ITEM A. ROLL CALL Present: Excused: Abdulhamid Ali; David Dull; Mark Foley; Mary Isbister; Grace Maizonet; Kurt Wachholz and Ann Wilson (via telephone). Mary Isbister arrived at 5:20 p.m. José Pérez and Mary Scheibel. ITEM B. Discussion ITEM C. COMPLIANCE WITH THE OPEN MEETINGS LAW Chairperson Wachholz indicated that proper notice of the meeting had been given in compliance with the Wisconsin Open Meetings Law. APPROVAL OF MINUTES C-1 Regular Board Meeting: October 27, Motion Action It was moved by Mr. Dull, seconded by Mr. Ali, to approve the minutes of the Regular Board Meeting: October 27, Motion approved. C-2 Special Board Meeting: November 4, 2015 Motion Action It was moved by Ms. Wilson, seconded by Mr. Ali, to approve the minutes of the Special Board Meeting: November 4, Motion approved.

5 Milwaukee Area Technical College District Board November 24, 2015 Page 2 ITEM D. COMMENTS FROM THE PUBLIC None. ITEM E. APPROVAL OF CONSENT AGENDA ITEMS FPO-2 Bills October 2015 FPO-3 Financial Report October 2015 FPO-4 Human Resources Report FPO-5 Procurement Report FPO-6 Affirmative Action Report Motion Action ITEM F. Information It was moved by Mr. Ali, seconded by Ms. Maizonet, to approve the Consent Agenda. Motion approved. CHAIRPERSON S REPORT Mr. Wachholz: Reported he attended the Fall WTC District Boards Association Meeting and Legal Issues Seminar in Waukesha. Stated the Winter WTC District Boards Association Meeting is scheduled on January 14-16, 2016 in La Crosse, that he will represent MATC at the meeting, and encouraged board members to attend as MATC is on the agenda to present on the MATC Promise. Mentioned the ACCT National Legislative Summit will take place in Washington DC in February Encouraged the board members to participate in the Winter Commencement on Friday, December 11. Mentioned that approximately 35 elaborate and fancy gingerbread houses created by MATC students will be on display at Milwaukee Public Market from December 4 through the 15th. Invited board members to attend the Grand Opening Celebration of the MATC School of Health Sciences Dental Clinic scheduled for December 1 at the Health Building. Thanked board members, faculty and staff for their commitment to MATC and its students. INFORMATION ITEM F-1 MATC Foundation Report Information Mr. Dull reported that:

6 Milwaukee Area Technical College District Board November 24, 2015 Page 3 Dr. Martin provided an update on the MATC Promise, including the number of applications received to date, the program areas of interest to prospective students, and that nearly every Bradley Tech senior has applied. She also mentioned that Bradley Tech is the first step toward M3 s goal of building a pipeline of talent for the workforce. Christine McGee provided an update on the scholarship campaign, with the following highlights: They are at 63% of the goal to raise $1 million in new dollars for scholarships. They are at 46% of the $1 million goal for the MATC Promise. There are several large requests in process totaling over $275,000 and a number of prospect meetings scheduled over the next two weeks. The Executive Committee of the Board will be meeting in December to discuss how to proceed with an endowment campaign for the MATC Promise. The remainder of the meeting was spent on fundraising training for the board members. ITEM G. Information PRESIDENT S REPORT Dr. Martin: Shared with the Board some highlights concerning happenings at MATC from the month of November via PowerPoint. Reported she attended the School of Health Sciences Advisory Committee Recognition Event on November 3. Joined Secretary Reggie Newson at Carmen School of Science and Technology to kick off November as Career Development month throughout Wisconsin. Served as a panelist for the African American Chamber of Commerce Women in Business Luncheon. Introduced Bohdan Zachary as the new General Manager of PTV. ITEM H. Information STUDENT GOVERNMENT REPORT Mr. Richter: Reported all campuses have had their respective open houses. Announced the various campuses are having a holiday meal with Santa: Mequon Campus, December 3; West Allis and Downtown Milwaukee combined, December 5 and Oak Creek will have a holiday brunch on December 5. Reported the IT department held a symposium at Oak Creek on December 10 with a keynote address on how to prepare for a job in the IT industry.

7 Milwaukee Area Technical College District Board November 24, 2015 Page 4 Stated representatives from all four MATC campuses volunteered at the Hunger Task Force on November 16. Reported a new club has been approved by the DSS, the Student Union Movement (SUM). ITEM I. Information LEGISLATIVE MATTERS REPORT Ms. Zelenkova presented the item as information and gave brief updates on the following topics: Campus Carry Youth Workforce Readiness Merger Opportunities between Technical College System and UW Resolution to commend MATC and the MATC Promise Legislative proposal to change membership of MATC Board Congress decision on Perkins Grant ITEM J. Discussion ITEM K. Discussion ITEM L. Discussion PUBLIC TELEVISION COMMITTEE REPORT Mr. Foley gave highlights of the November 17, 2015 Public Television Committee Meeting. EDUCATION, SERVICES, AND STUDENT SUCCESS COMMITTEE REPORT Ms. Isbister gave highlights of the November 17, 2015 Education, Services, and Student Success Committee meeting. FINANCE, PERSONNEL AND OPERATIONS COMMITTEE REPORT Mr. Ali gave highlights of the November 19, 2015, Finance, Personnel, and Operations Committee meeting. Action Items FPO-7 Resolution (F ) Authorizing the Sale of $1,500,000 General Obligation Promissory Notes, Series F of Milwaukee Area Technical College District, Wisconsin Motion It was moved by Ms. Maizonet, seconded by Ms. Isbister, to approve Resolution (F ) Authorizing the Sale of $1,500,000 General Obligation Promissory Notes, Series F of Milwaukee Area Technical College District, Wisconsin.

8 Milwaukee Area Technical College District Board November 24, 2015 Page 5 Discussion Action Mr. John Mehan, managing director, Robert W. Baird & Co., introduced Danielle Olsen, also from Robert W. Baird & Co., and distributed and reviewed the Final Pricing Summary for the $1,500,000 General Obligation Promissory Notes, Series F. Motion approved, the roll call vote being as follows: Ayes: Dull, Foley, Isbister, Maizonet, Wilson, Ali and Wachholz 7 Noes: FPO-8 None. Resolution (F ) Authorizing the Issuance of $1,500,000 General Obligation Promissory Notes, Series G of Milwaukee Area Technical College District, Wisconsin Motion Action It was moved by Ms. Maizonet, seconded by Mr. Foley, to approve Resolution (F ) Authorizing the Issuance of $1,500,000 General Obligation Promissory Notes, Series G of Milwaukee Area Technical College District, Wisconsin. Motion approved, the roll call vote being as follows: Ayes: Foley, Isbister, Maizonet, Wilson, Ali, Dull and Wachholz 7 Noes: None. FPO-9 Resolution (F ) to Revise Fiscal Year Renovation/Remodeling (Capital) Projects Motion Action It was moved by Ms. Maizonet, seconded by Ms. Isbister, to approve Resolution (F ) to Revise Fiscal Year Renovation/Remodeling (Capital) Projects. Motion approved. FPO-10 Resolution (F ) to Approve FY Comprehensive Annual Financial Report Motion Action It was moved by Ms. Maizonet, seconded by Mr. Dull, to approve Resolution (F ) to Approve FY Comprehensive Annual Financial Report. Motion approved.

9 Milwaukee Area Technical College District Board November 24, 2015 Page 6 FPO-11 Approval of Auditor s Communication to Those Charged with Governance and Management Motion Action It was moved by Ms. Maizonet, seconded by Ms. Isbister, to approve Approval of Auditor s Communication to Those Charged with Governance and Management. Motion approved. FPO-12 Approval of Single Audit Report Motion Action ITEM M. It was moved by Mr. Dull, seconded by Ms. Maizonet, to approve Approval of Single Audit Report. Motion approved. Information Item FPO-17 Quarterly Sustainability Report Information ITEM N. Dr. Felsheim introduced MATC s new Sustainability Manager, Ginny Routhe. OLD BUSINESS/NEW BUSINESS 1. Future Agenda Items Consider additional marketing to key stakeholders. 2. Date of Next Meeting Tuesday, December 15, 2015, 5:00 p.m. Board Meeting, Downtown Milwaukee Campus, Board Room (M210) ITEM O. Motion FCC Spectrum Auction Strategy Considerations*** It was moved by Mr. Dull, seconded by Mr. Foley to convene into Closed Session pursuant to Section (1)(e) to discuss Item O, FCC Spectrum Auction Strategy Considerations, to discuss strategy and to deliberate on public business which entails competitive matters requiring a Closed Session. The Board may reconvene into Open Session to take action on matters discussed in Closed Session under Item N.

10 Milwaukee Area Technical College District Board November 24, 2015 Page 7 Action Motion approved, the roll call vote being as follows: Ayes: Isbister, Maizonet, Wilson, Ali, Dull, Foley and Wachholz 7 Noes: None. * This meeting may be conducted in part by telephone. Telephone speakers will be available to allow the public to hear those parts of the proceedings that are open to the public. ** Action may be taken on any agenda item, whether designated as an action item or not. Agenda items may be moved into Closed Session for discussion when it becomes apparent that a Closed Session is appropriate under Section of the Wisconsin Statutes. The board may return into Open Session to take action on any item discussed in Closed Session. *** It is anticipated that this item may be discussed in Closed Session pursuant to Section 19.85(1)(e) of the Wisconsin Statutes. Adjournment The meeting adjourned at 9:05 p.m. Respectfully submitted, José Pérez Secretary

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61 Attachment FPO - 4 matc HUMAN RESOURCES REPORT December 2015 Thirty-four transactions are included in the report for December. Appointments Twelve appointments occurred during the reporting period, one of which is a faculty appointment and eleven of which are staff appointments. The faculty appointment is a part-time regular position. Included in the staff appointments are four part-time regular, one full-time regular, three part-time limited term, one full-time limited term, one parttime specially funded and one full-time specially funded positions. Four females and eight males comprise the appointments. Represented in that total are two black females, three black males and one Hispanic male. Fiscal year-to-date, total appointments are one hundred fourteen. Included in that total are forty-four males (38.6%) and seventy females (61.4%). Minority hires total thirty-five (30.7%), including twenty-four black (21.1%). White Black Hispanic Asian Native American Total Male Female Male Female Male Female Male Female Male Female Male Female This Month Year-to-date YTD Percent 65.8% 21.1% 5.3% 1.8% 2.6% 38.6% 61.4% 2 or More Races Other Male Female Male Female % 0.9% Changes in Status The seven changes in status during this reporting period represent one transfer, two promotions, one additional assignment and three limited-term extensions. Two females and five males comprise the changes in status. Included in that total are one Asian female and one Asian male. Separations The fifteen separations represent five retirements, six resignations, two end of assignments and two terminations. Ten females and five males comprise the separations. Included in that total are two black females, two black males, three Hispanic females, one Hispanic male and one Asian female.

62 TRANSACTION SUMMARY REPORT FOR December 2015 DIVISION OR SCHOOL APPOINTMENTS CHANGES IN STATUS SEPARATIONS **AA TOTAL BUSINESS HEALTH SCIENCES 0 0 2(1) 2(1) LIBERAL ARTS & SCIENCES 0 2(1) 3(2) 5(3) MEDIA & CREATIVE ARTS PRE-COLLEGE 0 0 1(1) 1(1) TECHNOLGY & APPLIED 4(2) 1 1 6(2) SCIENCES ACADEMIC SERVICES DISTRICT ADMINISTRATION EMPLOYEE AND LEGAL SERVICES FINANCE 3(2) 2 2 7(2) INFORMATION TECHNOLOGY 0 0 1(1) 1(1) PUBLIC TELEVISION STUDENT SERVICES 4(2) 1(1) 5(4) 10(7) WORKFORCE & ECONOMIC DEVELOPMENT TOTALS BY CATEGORY 12(6) 7(2) 15(9) 34(17) TOTAL TRANSACTIONS FOR THE MONTH 34(17) **Affirmative Action totals in parentheses.

63 Non-represented Salary Schedule Effective July 1, 2015 Exempt Salary Grade Title Minimum Mid-Point Maximum 917 Vice President $ 133,432 $ 172,057 $ 210, Associate Vice President, Dean $ 92,830 $ 125,535 $ 158, Associate Dean, Director $ 82,232 $ 111,508 $ 140, Assistant Dean, Manager $ 66,069 $ 89,591 $ 113, Coordinator $ 58,109 $ 78,795 $ 99, Senior Specialist, Supervisor $ 48,002 $ 65,092 $ 82, Specialist $ 42,950 $ 58,238 $ 73,526 Non-Exempt Salary Grade Title Minimum Mid-Point Maximum 904 Senior Technician $ 45,637 $ 61,886 $ 78, Administrative Specialist $ 39,685 $ 53,811 $ 67, Assistant $ 34,507 $ 46,792 $ 59, Aide $ 24,989 $ 33,884 $ 42,780

64 Human Resources Report December 2015 Appointments Division or School Employee Name Employee Status Job Title Type of Transaction Start Date End Date Salary Education Business Health Sciences Liberal Arts & Sciences Media & Creative Arts Pre-College None None None None None Technology & Applied Alexander, Gary Part-Time Regular Instructor, Fluid Power Replacement 01/15/16 $27.04/hour B.A. - LeTourneau College Sciences Johnson, Henriette Part-Time LTE Technical Specialist New 11/16/15 09/30/16 $19.50/hour M.A. - UW-Milwaukee Orgas, Vicki Part-Time Regular Word Processing Associate Replacement 11/16/15 $15.85/hour HSD Simon, Camry Part-Time (Specially Funded) Educational Assistant Replacement 11/30/15 06/30/15 $18.89/hour A.A. - MATC Academic Services Garamoni, Michael Full-Time LTE Coordinator New 12/07/15 09/30/16 $58,109/annual B.A. - Western State Colorado University District Administration Employee & Legal Services None None Finance Kubik, Brian Full-Time Regular Manager, Internal Audit New 01/04/16 $100,000/annual B.A. - UW-Milwaukee Najera, George Part-Time LTE Shuttle Van Driver New 12/7/2015 $14.15/hour HSD Scruggs, Joe Part-Time LTE Shuttle Van Driver Replacement 12/07/15 $14.51/hour HSD Information Technology Public Television None None Student Services Cooper, Major Part-Time Regular Student Services Specialist Replacement 12/7/2015 $28.98/hour M.A. - Kentucky State University Jones, Andrea Full-Time (Specially Funded) Sign Language Interpreter Replacement 11/30/15 06/30/16 $25.38/hour B.A. - UW-Milwaukee Redmond, Corey Part-Time Regular Office Associate Replacement 11/30/15 $15.85/hour M.A. - UW-Madison Schild, Steven Part-Time Regular Tutor New 11/12/15 $10.00/hour Workforce & Economic Development None

65 Human Resources Report December 2015 Changes In Status Division or School Employee Name Personnel Action Job Title Type of Transaction Start Date End Date Salary Business Westphal, Jeffrey Additional Assignment (Specially Funded) Educational Assistant New 11/16/15 06/30/16 $25.38/hour Health Sciences None Liberal Arts & Sciences Gleason, Margaret LTE Extension Instructor, Early Childhood Temporary 01/15/16 05/20/16 $66.27/hour Xue, Yong LTE Extension Instructor, Physics Temporary 01/15/16 05/20/16 $70.96/hour Media & Creative Arts Pre-College None None Technology & Applied Sciences Lockett, Gordon LTE Extension Instructor, Plumbing Temporary 01/15/16 05/20/16 $61.59/hour Academic Services None District Administration Manion, Christine Promotion Associate Provost Replacement 01/02/15 $120,395.25/Annual Employee & Legal Services None Finance Anthony, Robert Promotion Building Services Assistant Replacement 11/12/15 $19.33/hour Brown, Mike Transfer Building Services Associate Replacement 11/30/15 $20.97/hour Information Technology Public Television None None Student Services Lee, Linda Promotion Office Technician Replacement 12/02/15 $20.10/hour Workforce & Economic Development None

66 Division or School Employee Name Ending Reason Job Title Human Resources Report December 2015 Separations Effective Date Business None Health Sciences Love, Marietta Retirement Student Services Specialist 01/04/16 Robel, Danielle Resignation Instructor, Health 11/28/15 Liberal Arts & Sciences Briones, Alejandra Termination Instructor, Foreign Language 11/30/2015 Briones, Patricia Resignation Educational Assistant 11/29/15 Ciskowski, Diane Retirement Instructor, Social Science 12/15/15 Media & Creative Arts None Pre-College Kenner, Donald Retirement Student Services Specialist 12/31/15 Technology & Applied Sciences Orgas, Vicki Resignation Word Processing Associate 11/30/15 Academic Services District Administration Employee & Legal Services None None None Finance Dulberger, Terrel Retirement Child Development Specialist 01/01/16 Jablonski, Michael Resignation Building Services Technician 12/04/15 Information Technology Thomas, Mary Retirement Information Technology Consultant 12/30/15 Public Television None Student Services Bennett, Antonio End of Assignment Tutor 10/19/15 Feiker, Jay Termination Educational Assistant 11/19/15 Rivera, Amaury End of Assignment Tutor 05/21/15 Tyler, Kidia Resignation Educational Assistant 11/13/15 Valentin, Maritza Resignation Word Processing Specialist 12/21/15 Workforce & Economic Development None

67 Attachment FPO 5 PROCUREMENT REPORT DECEMBER 2015 The Procurement report consists of: Part I External Contracts Part II Procurements Part III Contracts for Services Part IV Construction Contracts Part V Lease Agreements Each month the board approves contracts, procurements and services related to the operation of the College. The current items for board approval are: I. External Contracts None II. III. IV. Procurements 1. Robotic Educational Systems ABB, Inc. Auburn Hills, MI $137, Contracts for Services Construction Contracts 1. RENOVATION AND REMODELING DMC Classroom, Corridor & Flooring Improvements-FY16 MATC Bid reference NO Absolute Construction Enterprises, Inc. Racine, WI $ 211, V. Lease Agreements None 1

68 Part II: PROCUREMENTS Item 1: ROBOTIC EDUCATIONAL SYSTEMS Background The MATC Electronic Technology program is looking to add four (4) robotic systems to the equipment for students to interface into manufacturing cell designs. The robotic systems need to be mobile and flexible. The manipulators will mainly be used for part picking from conveyor systems. The manipulators should be small enough to be easily placed by one or two individuals without the aid of rigging equipment. The controllers need to be able to interface to student designed PLC/PAC systems both discretely and using common fieldbus protocols. The controllers should have offline interfacing with robotic simulation software that accurately represents the kinematics of the manipulators including end-or-arm effectors. The systems will also be used for programming practice and recruitment displays. The systems must have fully functional safety systems to provide barrier and presence sensing safety for operators and non-trained personnel. The systems must be modular to fit through standard door openings with minimal disassembly and reassembly when moving into other rooms or locations. The offline simulation software will be used to practice programming and show at recruiting events. It must be able to accurately download the kinematic data to the robot controller. For true practice, the simulation software will include a virtual teach pendant for the students to manipulate through the computer. This purchase will be made under the guidelines of MATC BID 16-09, which meets all state of Wisconsin Procurement requirements. Three (3) vendors were directly solicited and the bid was posted on DemandStar. ABB Inc. LAB Midwest Midwest Engineering Systems, Inc. Two (2) vendors responded: ABB Inc. LAB Midwest Positive action by the MATC Board will result in a purchase from ABB Inc., of Auburn Hills, MI at the cost of $137,

69 Part IV: CONSTRUCTION Item 1: RENOVATION AND REMODELING DMC Classroom, Corridor & Flooring Improvements-FY16 MATC Bid reference NO Background Information Previously, the Board approved lists of renovation and remodeling capital projects for various budget years. The projects and funding plans have also been approved as part of the respective fiscal year budget approvals. The subject projects deal with Remodeling of Specified Areas at the MATC Downtown Main Campus Facility. This Bid package # includes 2 minor remodeling/improvement projects as outlined below to include: DMC Flooring Improvements M108, M116 & M118 - # DMC Classroom & Corridor Improvements FY16 (Multiple Locations) -# The contract recommended for approval below is for a single prime contract that pertains to the general construction for the previously mentioned areas. Bid documents for the aforementioned work were prepared in accordance with Board policies and State regulations, and advertisements were placed in the Daily Reporter, the Milwaukee Courier and the Spanish Journal. The bids were opened on December 3rd, 2015 with the following results of the Base Bid: REMODELING SPECIFIED AREAS & RELATED WORK (Comprehensive Single Prime) Absolute Construction Enterprises, Inc. $ 211,000.00* Allcon LLC $ 268, Burkhart Construction Corp. $ 222, Creative Constructors LLC $ 235, KPH Construction Corp. $ 266, Wm. Sackerson Construction Co. Inc. $ 251, Proposals were evaluated, and the low qualified bid, as indicated by the asterisk, has met specifications. There were no challenges to the bid document or the manner in which the successful bidder was selected. Positive action by the Board on this item will authorize the issuance of a contract in the amount shown to the firm indicated by the asterisk. 3

70 ESSS Dashboard Presentation Student Demographics November 2015 Source: WTCS State Reporting and MATC CROA 1

71 100% MATC Student Age Trending 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% FY2011 FY2012 FY2013 FY2014 FY or under & Older 2

72 MATC Student Gender Trending 100% 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% FY2011 FY2012 FY2013 FY2014 FY2015 Male Female 3

73 100% MATC Student Race & Ethnicity Trending 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% FY2011 FY2012 FY2013 FY2014 FY2015 White African American Hispanic Asian American American Indian Multi-Ethnic 4

74 Program Students, Financial Aid and Pell Grant Recipients 25,000 20,000 15,000 10,000 5,000 - FY2011 FY2012 FY2013 FY2014 FY2015 Program Students FA Recipients Pell Recipients Source: CROA Notes: Unduplicated count of financial aid recipients includes students receiving Federal and state grants and loans in addition to state and private scholarships. Work study and sponsorships are not included in the count. 5

75 7,000 Financial Aid Recipients by Ethnic Group 6,000 5,000 4,000 3,000 2,000 1,000 0 FY2011 FY2012 FY2013 FY2014 FY2015 Black White Hispanic Asian American Indian Multiple Unknown Source: CROA Notes: Unduplicated count of financial aid recipients includes students receiving Federal and state grants and loans in addition to state and private scholarships. Work study and sponsorships are not included in the count. 6

76 100% Percentage of Financial Aid Recipients among Program Students by Ethnic Group 90% 80% 70% 60% 50% 40% 30% 20% 10% 0% FY2011 FY2012 FY2013 FY2014 FY2015 Black or African American White Hispanic Asian American Indian Multiple Unknown Total Source: CROA Notes: Unduplicated count of financial aid recipients includes students receiving Federal and state grants and loans in addition to state and private scholarships. Work study and sponsorships are not included in the count. 7

77 Financial Aid Recipients by Award Group FY2011 FY2012 FY2013 FY2014 FY2015 Grant Loan Scholarship Source: CROA Notes: Financial aid awards include Federal and state grants and loans in addition to state and private scholarships. Work study and sponsorship are not included in financial aid totals. 8

78 $70.0 $60.0 Financial Aid Award Paid by Award Group Amounts in Millions $50.0 $40.0 $30.0 $20.0 $10.0 $ Grant Loan Scholarship Source: CROA Notes: Financial aid awards include Federal and state grants and loans in addition to state and private scholarships. Work study and sponsorship are not included in financial aid totals. 9

79 $6,000 Average Financial Aid Award Paid by Award Group $5,000 $4,000 $3,000 $2,000 $1,000 $0 FY2011 FY2012 FY2013 FY2014 FY2015 Grant Loan Scholarship Source: CROA Notes: Financial aid awards include Federal and state grants and loans in addition to state and private scholarships. Work study and sponsorship are not included in financial aid totals. 10

80 ESSS Dashboard Presentation Goal 3 Economic & Environmental Sustainability December 2015 Source: WTCS State Reporting and MATC Data

81 MATC Unduplicated Student Headcount 5-Year Trending 50,000 45,000 40,000 44,306 41,601 43,196 40,825 38,302 35,000 30,000 25,000 20,000 15,000 10,000 5,000 0 FY2011 FY2012 FY2013 FY2014 FY

82 MATC Full-Time Equivalencies (FTEs) 5-year Trending WI OBF Criteria #8 (50%) Ranked #1 16,000 14,000 12,000 14,543 13,991 13,156 12,417 11,811 10,000 8,000 6,000 4,000 2,000 0 FY2011 FY2012 FY2013 FY2014 FY2015

83 MATC Campus Student Headcount Trending 30,000 25,000 28,128 28,362 28,314 27,195 25,696 20,000 15,000 10,000 5, ,506 10,960 10,654 9,961 9,802 9,126 8,814 9,504 6,231 7,632 5,389 7,106 4,775 4,615 4,353 FY2011 FY2012 FY2013 FY2014 FY2015 Milwaukee Oak Creek West Allis Mequon 14

84 MATC Special Populations WI OBF Criteria #9 Ranked #1 25,000 20,000 15,000 10,000 FY2011 FY2012 FY2013 FY2014 5,000 - Students Receiving Pell Grants Minority Students 15

85 MATC Special Populations WI OBF Criteria #9 Ranked #1 2,000 1,800 1,600 1,400 1,200 1, FY2011 FY2012 FY2013 FY Veterans Incarcerated Dislocated Worker Students with Disabilities 16

86 MATC Adult Basic Education Enrollment WI OBF Criteria #5 (50%)- Ranked #1 12,000 10,000 10,553 9,741 9,013 8,000 6,617 6,000 4,000 2,000 0 FY2011 FY2012 FY2013 FY2014

87 MATC Trends: Dual Enrollment Credits WI OBF Criteria #6 Ranked #10 5,000 4,500 4,000 4,004 4,494 3,500 3,000 2,895 2,500 2,000 1,500 1,761 1, FY2011 FY2012 FY2013 FY

88 MATC Grants Support Amount in Millions FY2011 FY2012 FY2013 FY2014 FY

89 MATC Foundation Support Amount in Millions FY2011 FY2012 FY2013 FY2014 FY

90 MATC Foundation Support by Category 800,000 Scholarships Emergency Program 700, , , , , , ,000 0 FY2011 FY2012 FY2013 FY2014 FY

91 Attachment FPO - 6 $1,500, Milwaukee Area Technical College District, Wisconsin General Obligation Promissory Notes, Series G RESOLUTION AUTHORIZING THE SALE OF $1,500, GENERAL OBLIGATION PROMISSORY NOTES, SERIES G Resolution F WHEREAS, pursuant to Section 67.12(12) of the Wisconsin Statutes, as amended (the Act ), the Milwaukee Area Technical College District, Wisconsin (the District ), is authorized to issue notes of the District in the aggregate amount of $1,500, for the public purpose of financing building remodeling and improvement projects, consisting of projects included in the District's building remodeling and improvement program (the public purpose projects described above are hereafter referred to as the Public Purposes ); and WHEREAS, on November 24, 2015, the District authorized the issuance of $1,500, General Obligation Promissory Notes, Series G (the Notes ) for the Public Purposes; and WHEREAS, the District has prepared and distributed a Preliminary Official Statement, dated December 8, 2015 (the Preliminary Official Statement ), describing the Notes and the security therefor; and WHEREAS, the District has examined proposed documentation for the Notes (collectively, the Note Documents ), as follows: (a) an Official Notice of Sale issued by the District and a Parity Bid Form (the Note Purchase Agreement ) to be entered into between the District and the Underwriter, providing for the sale of the Notes; and (b) the Preliminary Official Statement. WHEREAS, it is now expedient and necessary for the District to issue its general obligation promissory notes in the amount of $1,500, for the Public Purposes; NOW, THEREFORE, the District hereby resolves as follows: Section 1. Definitions. The following terms shall have the following meanings in this Resolution unless the text expressly or by implication requires otherwise: Act shall mean Section 67.12(12) of the Wisconsin Statutes; Code shall mean the Internal Revenue Code of 1986, as amended;

92 Continuing Disclosure Agreement shall mean the Continuing Disclosure Agreement, executed and delivered by the Issuer, dated January 13, 2016 (the Continuing Disclosure Agreement ), delivered by the District for the purpose of complying with the requirements of Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended; Dated Date shall mean January 13, 2016; Debt Service Fund shall mean the Debt Service Fund of the District, which shall be the special redemption fund as such term is defined in the Act; District shall mean the Milwaukee Area Technical College District, Wisconsin; Fiscal Agent shall mean the Treasurer of the District; Governing Body shall mean the Board of the District, or such other body as may hereafter be the chief legislative body of the District; Initial Resolution shall mean the Resolution Authorizing the Issuance of $1,500, General Obligation Promissory Notes, Series G of Milwaukee Area Technical College District, Wisconsin, adopted by the Governing Body on November 24, 2015; Note Registrar means the Secretary of the District; Notes shall mean the $1,500, General Obligation Promissory Notes, Series G, of the District; Public Purposes shall mean the public purpose of financing $1,500, of building remodeling and improvement projects, consisting of projects included in the District's building remodeling and improvement program; Purchase Price shall mean $1,541, ($1,500, par amount of Notes, plus premium of $45,401.00, less underwriter's discount of $4,065.00); Record Date shall mean the close of business on the fifteenth day of the calendar month next preceding any principal or interest payment date; Securities Depository means The Depository Trust Company, New York, New York, or its nominee; and Underwriter means Hutchinson, Shockey, Erley & Co.. Section 2. Authorization of the Notes. For the purpose of financing the Public Purposes, there shall be borrowed on the full faith and credit of the District the sum of 2

93 $1,500,000.00; and fully registered general obligation promissory notes of the District are authorized to be issued in evidence thereof. Section 3. Sale of the Notes. To evidence such indebtedness, (i) the Chairperson or the Vice Chairperson and (ii) the Secretary of the District are hereby authorized, empowered and directed to make, execute, issue and sell to the Underwriter for, on behalf of and in the name of the District, general obligation promissory notes in the aggregate principal amount of One Million Five Hundred Thousand Dollars ($1,500,000.00) for the Purchase Price, plus accrued interest to the date of delivery. Section 4. Terms of the Notes. The Notes shall be designated General Obligation Promissory Notes, Series G ; shall be dated the Dated Date; shall be numbered one and upward; shall bear interest as shown on the Maturity Schedule below; shall be issued in denominations of $5,000 or any integral multiple thereof; and shall mature on the dates and in the amounts as set forth below. Interest on the Notes shall accrue from the Interest Accrual Date and shall be payable semi-annually on June 1 and December 1 of each year, commencing on June 1, MATURITY SCHEDULE Maturity Date Principal Amount Interest Rate June 1, 2017 $350, % June 1, 2018 $500, % June 1, 2019 $500, % June 1, 2020 $150, % The Notes of this issue shall not be subject to call and payment prior to maturity. Section 5. Form, Execution, Registration and Payment of the Notes. The Notes shall be issued as registered obligations in substantially the form attached hereto as Exhibit A and incorporated herein by this reference. The Notes shall be executed in the name of the District by the manual signatures of (i) the Chairperson or the Vice Chairperson and (ii) the Secretary, and may be sealed with its official or corporate seal, if any. The principal of, premium, if any, and interest on the Notes shall be paid by the Fiscal Agent. Both the principal of and interest on the Notes shall be payable in lawful money of the United States of America by the Fiscal Agent. Payment of principal of the final maturity on the Notes will be payable upon presentation and surrender of the Notes to the Fiscal Agent. Payment of principal on the Notes (except the final maturity) and each installment of interest shall be made to the registered owner of each Note who shall appear on the registration books of the District, maintained by the Note Registrar, on the Record Date and

94 shall be paid by check or draft of the Fiscal Agent and mailed to such registered owner at the address appearing on such registration books or at such other address may be furnished in writing to such registered owner to the Note Registrar. Section 6. Note Proceeds. The sale proceeds of the Notes (exclusive of accrued interest, printing distribution and filing fees, and any premium received) shall, forthwith upon receipt, be placed in and kept by the District Treasurer as a separate fund to be known as the Promissory Notes, Series G, Borrowed Money Fund (hereinafter referred to as the Borrowed Money Fund ). Moneys in the Borrowed Money Fund shall be used solely for the purposes for which borrowed or for transfer to the Debt Service Fund as provided by law. Section 7. Tax Levy. In order to provide for the collection of a direct annual tax sufficient in amount to pay and for the express purpose of paying the interest on the Notes as it falls due and also to pay and discharge the principal thereof at maturity, there is hereby levied upon all of the taxable property in the District, in addition to all other taxes, a nonrepealable, direct, annual tax in an amount sufficient for that purpose. This tax shall be from year to year carried into the tax roll of the District and collected in addition to all other taxes and in the same manner and at the same time. Said tax is to be for the following years and in the following minimum amounts: Year of Levy Amount of Tax 2015 $29, $381, $522, $509, $152, The District shall be and continue without power to repeal such levy or obstruct the collection of said tax until all such payments have been made or provided for. After the issuance of the Notes, said tax shall be carried into the tax rolls of the District and collected as other taxes are collected, provided that the amount of tax carried into said tax rolls with respect to the Notes may be reduced by the amount of any surplus money in the Debt Service Fund created pursuant to Section 8 below. If there shall be insufficient funds from the tax levy to pay the principal of or interest on the Notes when due, the said principal or interest shall be paid from other funds of the District on hand, said amounts to be returned when said taxes have been collected. There be and there hereby is appropriated from taxes levied by the District in anticipation of the issuance of the Notes and other funds of the District on hand a sum sufficient to be deposited in the Debt Service Fund to meet payments with respect to debt service due for the year Section 8. Debt Service Fund. Within the debt service fund previously established within the treasury of the District, there be and there hereby is established a separate and 4

95 distinct fund designated as the Debt Service Fund for $1,500, General Obligation Promissory Notes, Series G, dated January 13, 2016 (the Debt Service Fund ), and such fund shall be maintained until the indebtedness evidenced by the Notes is fully paid or otherwise extinguished. The District Treasurer shall deposit in such Debt Service Fund (i) all accrued interest received by the District at the time of delivery of and payment for the Notes; (ii) the taxes herein levied for the specific purpose of meeting principal of and interest on the Notes when due; (iii) such other sums as may be necessary at any time to pay principal of and interest on the Notes when due; (iv) any premium which may be received by the District above the par value of the Notes and accrued interest thereon; (v) surplus moneys in the Borrowed Money Fund for the Notes; and (vi) such further deposits as may be required by Section of the Wisconsin Statutes. No money shall be withdrawn from the Debt Service Fund and appropriated for any purpose other than the payment of principal of and interest on the Notes until all such principal and interest has been paid in full and canceled; provided (i) the funds to provide for each payment of principal of and interest on the Notes prior to the scheduled receipt of taxes from the next succeeding tax collection may be invested in direct obligations of the United States of America maturing in time to make such payments when they are due or in other investments permitted by law; and (ii) any funds over and above the amount of such principal and interest payments on the Notes may be used to reduce the next succeeding tax levy, or may, at the option of the District, be invested by purchasing the Notes as permitted by and subject to Section 67.11(2)(a) of the Wisconsin Statutes in interestbearing obligations of the United States of America, in other obligations of the District or in other investments permitted by law, which investments shall continue as a part of the Debt Service Fund. When all of the Notes have been paid in full and canceled, and all permitted investments disposed of, any money remaining in the Debt Service Fund shall be deposited in the general fund of the District, unless the District Board directs otherwise. Section 9. Deposits and Investments. The Debt Service Fund shall be kept apart from moneys in the other funds and accounts of the District and the same shall be used for no purpose other than the prompt payment of principal of and interest on the Notes as the same becomes due and payable. All moneys therein shall be deposited in special and segregated accounts in a public depository selected under Chapter 34 of the Wisconsin Statutes and may be temporarily invested until needed in legal investments subject to the provisions of Sections (1m) and 67.10(3) of the Wisconsin Statutes. All income derived from such investments shall be regarded as revenues of the District. No such investment shall be in such a manner as would cause the Notes to be arbitrage bonds within the meaning of Section 148 of the Code or the Regulations of the Commissioner of Internal Revenue thereunder. The District Treasurer shall, on the basis of the facts, estimates and circumstances in existence on the date of closing, make such certifications as are necessary to permit the conclusion that the Notes are not arbitrage bonds under Section 148 of the Code or the Regulations of the Commissioner of Internal Revenue thereunder. 5

96 Section 10. Sale of Notes. The terms, conditions and provisions of the Notes and the Note Documents are, in all respects, authorized and approved. The form of the Note Purchase Agreement is hereby approved. The Notes shall be sold and delivered in the manner, at the Purchase Price, plus interest accrued from the Interest Accrual Date to the closing date, pursuant to the terms and conditions set forth in the Note Purchase Agreement. The preparation of the Preliminary Official Statement and the Final Official Statement, and their use as contemplated in the Note Purchase Agreement, are hereby approved. The Preliminary Official Statement is deemed final as of its date, except for omissions or subsequent modifications permitted under Rule 15c2-12 of the Securities and Exchange Commission. The Chairperson, the Vice Chairperson and Secretary of the District are authorized and directed to do any and all acts necessary to conclude delivery of the Notes to the Underwriter, as soon after adoption of this Resolution as is convenient. Section 11. Book-Entry Only Notes. The Notes shall be transferable as follows: (a) Each maturity of Notes will be issued as a single Note in the name of the Securities Depository, or its nominee, which will act as depository for the Notes. During the term of the Notes, ownership and subsequent transfers of ownership will be reflected by book entry on the records of the Securities Depository and those financial institutions for whom the Securities Depository effects book entry transfers (collectively, the Participants ). No person for whom a Participant has an interest in Notes (a Beneficial Owner ) shall receive bond certificates representing their respective interest in the Notes except in the event that the Securities Depository or the District shall determine, at its option, to terminate the book-entry system described in this Section. Payment of principal of, and interest on, the Notes will be made by the Fiscal Agent to the Securities Depository which will in turn remit such payment of principal and interest to its Participants which will in turn remit such principal and interest to the Beneficial Owners of the Notes until and unless the Securities Depository or the District elect to terminate the book entry system, whereupon the District shall deliver bond certificates to the Beneficial Owners of the Notes or their nominees. Note certificates issued under this Section may not be transferred or exchanged except as provided in this Section. (b) Upon the reduction of the principal amount of any maturity of Notes, the Registered Noteowner may make a notation of such redemption on the panel of the Note, stating the amount so redeemed, or may return the Note to the District for exchange for a new Note in a proper principal amount. Such notation, if made by the Noteowner, may be made for reference only, and may not be relied upon by any other person as being in any way determinative of the principal amount of such Note Outstanding, unless the Note Registrar initialed the notation on the panel. (c) Immediately upon delivery of the Notes to the purchasers thereof on the delivery date, such purchasers shall deposit the bond certificates representing all of the Notes with the Securities Depository. The Securities Depository, or its nominee, will be the 6

97 sole Noteowner of the Notes, and no investor or other party purchasing, selling or otherwise transferring ownership of any Notes will receive, hold or deliver any bond certificates as long as the Securities Depository holds the Notes immobilized from circulation. (d) The Notes may not be transferred or exchanged except: (1) To any successor of the Securities Depository (or its nominee) or any substitute depository ( Substitute Depository ) designated pursuant to (ii) below, provided that any successor of the Securities Depository or any Substitute Depository must be a qualified and registered clearing agency as provided in Section 17A of the Securities Exchange Act of 1934, as amended; (2) To a Substitute Depository designated by or acceptable to the District upon (a) the determination by the Securities Depository that the Notes shall no longer be eligible for depository services or (b) a determination by the District that the Securities Depository is no longer able to carry out its functions, provided that any such Substitute Depository must be qualified to act as such, as provided in subparagraph (1) above; or (3) To those persons to whom transfer is requested in written transfer instructions in the event that: (i) The Securities Depository shall resign or discontinue its services for the Notes and, only if the District is unable to locate a qualified successor within two months following the resignation or determination of noneligibility, or (ii) Upon a determination by the District that the continuation of the book entry system described herein, which precludes the issuance of certificates to any Noteowner other than the Securities Depository (or its nominee) is no longer in the best interest of the Beneficial Owners of the Notes. (e) The Depository Trust Company, New York, New York, is hereby appointed the Securities Depository for the Notes. Section 12. Undertaking to Provide Continuing Disclosure. The (i) Chairperson or the Vice Chairperson and (ii) Secretary of the District are hereby authorized and directed to execute on behalf of the District, the Continuing Disclosure Agreement in connection with the Notes for the purpose of complying with the requirements of Rule 15c2-12 promulgated by the Securities and Exchange Commission under the Securities Exchange Act of 1934, as amended. 7

98 Section 13. Compliance with Federal Tax Laws. (a) The District represents and covenants that the project financed by the Notes and their ownership, management and use will not cause the Notes to be private activity bonds within the meaning of Section 141 of the Code, and the District shall comply with the provisions of the Code to the extent necessary to maintain the tax-exempt status of the interest on the Notes. (b) The District also covenants to use its best efforts to meet the requirements and restrictions of any different or additional federal legislation which may be made applicable to the Notes, provided that in meeting such requirements the District will do so only to the extent consistent with the proceedings authorizing the Notes and the laws of Wisconsin, and to the extent there is a reasonable period of time in which to comply. Section 14. Rebate Fund. If necessary, the District shall establish and maintain, so long as the Notes are outstanding, a separate account to be known as the Rebate Fund for the purpose of complying with the rebate requirements of Section 148(f) of the Code. The Rebate Fund is for the sole purpose of paying rebate to the United States of America, if any, on amounts of bond proceeds held by the District. The District hereby covenants and agrees that it shall pay from the Rebate Fund the rebate amounts as determined herein to the United States of America. The District may engage the services of accountants, attorneys, or other consultants necessary to assist it in determining rebate amounts. Amounts held in the Rebate Fund and the investment income therefrom are not pledged as security for the Notes and may only be used to pay amounts to the United States. The District shall maintain or cause to be maintained records of such determinations until six (6) years after payment in full of the Notes and shall make such records available upon reasonable request therefor. Section 15. Defeasance. When all Notes have been discharged, all pledges, covenants and other rights granted to the owners thereof by this Resolution shall cease. The District may discharge all Notes due on any date by irrevocably depositing in escrow with a suitable bank or trust company a sum of cash and/or bonds or securities issued or guaranteed as to principal and interest of the U.S. Government, or of a commission, board or other instrumentality of the U.S. Government ( Government Obligations ), or of securities wholly and irrevocably secured as to principal and interest by Government Obligations and rated in the highest rating category of a nationally recognized rating service, maturing on the dates and bearing interest at the rates required to provide funds sufficient to pay when due the interest to accrue on each of said Note to its maturity or, at the District's option, if said Note is prepayable to any prior date upon which it may be called for redemption, and to pay and redeem the principal amount of each such Note at maturity, or at the District's option, if said Note is prepayable, at its earliest redemption date, with the premium required for such redemption, if any, provided that notice of the redemption of all prepayable Notes on such date has been duly given or provided for. 8

99 Section 16. Resolution a Contract. The provisions of this Resolution shall constitute a contract between the District and the owner or owners of the Notes, and after issuance of any of the Notes no change or alteration of any kind in the provisions of this Resolution may be made, except as provided in Section 18, until all of the Notes have been paid in full as to both principal and interest. The owner or owners of any of the Notes shall have the right in addition to all other rights, by mandamus or other suit or action in any court of competent jurisdiction, to enforce such owner's or owners' rights against the District, the Governing Body thereof, and any and all officers and agents thereof including, but without limitation, the right to require the District, its Governing Body and any other authorized body, to fix and collect rates and charges fully adequate to carry out all of the provisions and agreements contained in this Resolution. Section 17. General Authorizations. The Chairperson, the Vice Chairperson and the Secretary of the District and the appropriate deputies and officials of the District in accordance with their assigned responsibilities are hereby each authorized to execute, deliver, publish, file and record such other documents, instruments, notices and records and to take such other actions as shall be necessary or desirable to accomplish the purposes of this Resolution and to comply with and perform the obligations of the District under the Notes. The execution or written approval of any document by the Chairperson, the Vice Chairperson or Secretary of the District herein authorized shall be conclusive evidence of the approval by the District of such document in accordance with the terms hereof. In the event that said officers shall be unable by reason of death, disability, absence or vacancy of office to perform in timely fashion any of the duties specified herein (such as the execution of Notes), such duties shall be performed by the officer or official succeeding to such duties in accordance with law and the rules of the District. Any actions taken by the Chairperson, the Vice Chairperson and Secretary consistent with this Resolution are hereby ratified and confirmed. Section 18. Amendment to Resolution. After the issuance of any of the Notes, no change or alteration of any kind in the provisions of this Resolution may be made until all of the Notes have been paid in full as to both principal and interest, or discharged as herein provided, except: (a) the District may, from to time, amend this Resolution without the consent of any of the owners of the Notes, but only to cure any ambiguity, administrative conflict, formal defect, or omission or procedural inconsistency of this Resolution; and (b) this Resolution may be amended, in any respect, with a written consent of the owners of not less than two-thirds (2/3) of the principal amount of the Notes then outstanding; provided, however, that no amendment shall permit any change in the pledge of tax revenues of the District or the maturity of any Note issued hereunder, or a reduction in the rate of interest on any Note, or in the amount of the principal obligation thereof, or in the amount of the redemption premium payable in the case of redemption thereof, or change the terms upon which the Notes may be redeemed or make any other modification in the terms of the payment of such principal or interest without the written consent of the owner of each such Note to which the change is applicable. 9

100 Section 19. Illegal or Invalid Provisions. In case any one or more of the provisions of this Resolution or any of the Notes shall for any reason be held to be illegal or invalid, such illegality or invalidity shall not affect any other provision of this Resolution or of the Notes. Section 20. Conflicting Resolutions. All ordinances, resolutions, or orders, or parts thereof heretofore enacted, adopted or entered, in conflict with the provisions of this Resolution, are hereby repealed and this Resolution shall be in effect from and after its passage. [SIGNATURE PAGE TO FOLLOW] 10

101 Adopted: December 15, Kurt D. Wachholz Chairperson of the District Attest: José Pérez Secretary of the District Recorded on December 15, José Pérez Secretary of the District [Signature Page of Sale Resolution] $1,500, Milwaukee Area Technical College District, Wisconsin General Obligation Promissory Notes, Series G

102 EXHIBIT A UNITED STATES OF AMERICA STATE OF WISCONSIN MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT GENERAL OBLIGATION PROMISSORY NOTE, SERIES G Number Interest Rate Maturity Date Dated Date Principal Amount CUSIP R- % June 1, 20 $ FOR VALUE RECEIVED, Milwaukee Area Technical College District, Wisconsin, promises to pay to CEDE & CO., or registered assigns, the principal sum of ($ ) on the maturity date specified above, together with interest thereon from or the most recent payment date to which interest has been paid, unless the date of registration of this Note is after the 15th day of the calendar month immediately preceding an interest payment date, in which case interest will be paid from such interest payment date, at the rate per annum specified above, such interest being payable on June 1 and December 1 of each year, with the first interest on this issue being payable on. The Notes of this issue shall not be subject to call and payment prior to maturity. Both principal hereof and interest hereon are hereby made payable to the registered owner in lawful money of the United States of America, and for the prompt payment of this Note with interest thereon as aforesaid, and the levying and collection of taxes sufficient for that purpose, the full faith, credit and resources of the District are hereby irrevocably pledged. The principal of this Note shall be payable only upon presentation and surrender of this Note to the District Treasurer at the principal office of the District. Interest hereon shall be payable by check or draft dated as of the applicable interest payment date and mailed from the office of the District Treasurer to the person in whose name this Note is registered at the close of business on the fifteenth day of the calendar month next preceding each interest payment date. This Note is transferable only upon the books of the District kept for that purpose by the District Secretary at the principal office of the District, by the registered owner in person or his duly authorized attorney, upon surrender of this Note together with a written instrument of transfer (which may be endorsed hereon) satisfactory to the District Secretary duly executed by the registered owner or his duly authorized attorney. Thereupon a new Note or Notes of the same aggregate principal amount, series and maturity shall be issued A-1

103 to the transferee in exchange therefor. The District may deem and treat the person in whose name this Note is registered as the absolute owner hereof for the purpose of receiving payment of or on account of the principal or interest hereof and for all other purposes. The Notes are issuable solely as negotiable, fully registered Notes without coupons in authorized denominations of $5,000 or any whole multiple thereof. This Note is one of an issue aggregating $1,500, issued pursuant to the provisions of Section 67.12(12) of the Wisconsin Statutes, for the public purpose of financing $1,500, building remodeling and improvement projects, consisting of projects included in the District's building remodeling and improvement program (the public purpose projects described above are hereafter referred to as the Public Purposes ) and is authorized by a resolution of the District Board of the District, duly adopted by said District Board at its meeting duly convened on, which resolution is recorded in the official book of its minutes for said date. It is hereby certified and recited that all conditions, things and acts required by law to exist or to be done prior to and in connection with the issuance of this Note have been done, have existed and have been performed in due form and time; that the aggregate indebtedness of the District, including this Note and others authorized simultaneously herewith, does not exceed any limitations imposed by law or the Constitution of the State of Wisconsin; and that the District has levied a direct, annual irrepealable tax sufficient to pay this Note, together with interest thereon when and as payable. No delay or omission on the part of the owner hereof to exercise any right hereunder shall impair such right or be considered as a waiver thereof or as a waiver of or acquiescence in any default hereunder. A-2

104 IN WITNESS WHEREOF, the District Board of Milwaukee Area Technical College District, Wisconsin, has caused this Note to be signed on behalf of said District by its duly qualified and acting Chairperson and Secretary, and its corporate seal to be impressed hereon, all as of the date of original issue specified above. MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT, WISCONSIN By: Chairperson of the District Attest: Secretary of the District A-3

105 (Form of Assignment) FOR VALUE RECEIVED the undersigned hereby sells, assigns and transfers unto (Please print or typewrite name and address, including zip code, of Assignee) (Please print or typewrite Social Security or other identifying number of Assignee) the within Note and all rights thereunder, hereby irrevocably constituting and appointing (Please print or type name of Attorney) Attorney to transfer said Note on the books kept for the registration thereof with full power of substitution in the premises. Dated: NOTICE: The signature to this assignment must correspond with the name as it appears upon the face of the within Note in every particular without alteration or enlargement or any change whatever. Signature(s) guaranteed by: \ A-4

106 Milwaukee Area Technical College District Final Pricing Summary December 15, 2015 John A. Mehan, Managing Director 777 East Wisconsin Avenue Milwaukee, WI Phone rwbaird.com/publicfinance

107 Milwaukee Area Technical College District Results of Competitive Bids $1,500,000 General Obligation Promissory Notes, Series G Bids Received by 9:30 AM (CT) Tuesday, December 15, 2015 Rank Bidder True Interest Cost 1 Hutchinson, Shockey, Erley & Co % 2 Fidelity Capital Markets % 3 Bernardi Securities, Inc % 4 Raymond James & Associates, Inc % Page 2

108 Milwaukee Area Technical College District Issue Summary Description: General Obligation Promissory Notes, Series G Amount: $1,500,000 Dated & Settlement Date: January 13, 2016 Maturities: June 1, First Interest Payment: June 1, 2016 First Call Date: Moody's Rating: Noncallable Aa2 True Interest Cost: % Winning Bidder/Purchaser: Hutchinson, Shockey, Erley & Co. Page 3

109 Milwaukee Area Technical College District Debt Service Page 4

110 Milwaukee Area Technical College District Financing Plan -- Calendar Year Basis EQUIPMENT & REMODELING BORROWINGS Actual 2015 Levy: (c) FINAL FINAL FINAL FINAL FINAL FINAL FINAL PRELIMINARY PRELIMINARY PRELIMINARY PRELIMINARY PRELIMINARY $42,500,000 $1,500,000 $1,500,000 $22,500,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000 $1,500,000 Actual 2016 Levy: SERIES SERIES SERIES SERIES SERIES SERIES SERIES SERIES SERIES SERIES SERIES SERIES $42,712,831 NET A B C D E F G H I J K L NET TOTAL EXISTING Dated 7/8/15 Dated 8/4/15 Dated 9/15/15 Dated 10/15/15 Dated 11/17/15 Dated 12/15/15 Dated 1/13/16 Dated 2/17/16 Dated 3/15/16 Dated 4/14/16 Dated 5/16/16 Dated 6/15/16 FUTURE COMBINED DEBT CALENDAR DEBT Noncallable Noncallable Noncallable Noncallable Noncallable Noncallable Noncallable Noncallable Noncallable Noncallable Noncallable Noncallable DEBT DEBT MILL YEAR PAYMENTS PAYMENTS PAYMENTS RATE incl OPEB & Average: Average: Average: Average: Average: Average: Average: Average: Average: Average: Average: Average: (a) (b) Series L 2.00% 2.29% 2.60% 2.00% 1.87% 2.00% 2.34% 4.00% 4.00% 4.00% 4.00% 4.00% 2015 $36,810,822 $11,917 $11,375 $5,498,916 $0 $42,333,029 $ $32,106,619 $30,000 $35,000 $3,533,050 $33,833 $27,531 $28,833 $29,150 $47,333 $42,667 $37,833 $32,500 $27,667 $7,057,000 $43,069,016 $ $25,374,300 $376,500 $379,750 $3,598,750 $376,500 $374,750 $376,500 $381,250 $403,000 $403,000 $403,000 $403,000 $403,000 $9,913,033 $43,166,333 $ $16,054,344 $518,000 $519,500 $3,666,800 $518,000 $518,000 $518,000 $522,000 $536,000 $536,000 $536,000 $536,000 $536,000 $17,774,567 $43,289,210 $ $6,341,356 $508,000 $509,500 $3,719,325 $508,000 $508,000 $508,000 $509,500 $516,000 $516,000 $516,000 $516,000 $516,000 $27,712,000 $43,403,681 $ $663,994 $151,500 $152,250 $3,755,500 $151,500 $151,500 $151,500 $152,250 $153,000 $153,000 $153,000 $153,000 $153,000 $37,380,900 $43,475,894 $ $673,981 $42,827,400 $43,501,381 $ $683,163 $42,817,100 $43,500,263 $ $695,963 $42,807,000 $43,502,963 $ $702,313 $42,679,500 $43,381,813 $ $712,260 $42,679,500 $43,391,760 $ $720,665 $42,679,500 $43,400,165 $ $727,453 $42,679,500 $43,406,953 $ $737,464 $42,679,500 $43,416,964 $ $740,620 $42,679,500 $43,420,120 $ $747,005 $42,679,500 $43,426,505 $ $756,538 $42,679,500 $43,436,038 $ $759,155 $42,679,500 $43,438,655 $ $126,008,012 $1,595,917 $1,607,375 $23,772,341 $1,587,833 $1,579,781 $1,582,833 $1,594,150 $1,655,333 $1,650,667 $1,645,833 $1,640,500 $1,635,667 $612,404,500 $779,960,742 #REF! (a) Future borrowing assumptions: Equipment Borrowing of $21,000,000 per year. Remodeling Borrowings of $18,000,000 per year. (b) Mill rate based on 2014 Equalized Valuation (TID OUT) of $69,017,851,677 and 2015 Equalized Valuation (TID OUT) of $69,908,973,752 with no annual growth. (c) Overall debt levy of $43,586,267 includes funds to make capital lease payments and pay administrative costs. Note: This information is provided for information purposes only. It does not recommend any future issuances and is not intended to be, and should not be regarded as, advice. Page 5

111 New Issue: Moody's assigns Aa2 to Milwaukee Area Technical College District, WI's $1.5M GO Prom. Notes, Ser G Global Credit Research - 08 Dec 2015 Aa2 rating applies to $110.3M post-sale GO debt MILWAUKEE AREA TECHNICAL COLLEGE DISTRICT, WI Community College Districts (Tax-backed) WI Moody's Rating ISSUE RATING General Obligation Promissory Notes, Series G Aa2 Sale Amount $1,500,000 Expected Sale Date 12/15/15 Rating Description General Obligation Moody's Outlook STA NEW YORK, December 08, Moody's Investors Service assigns a Aa2 to Milwaukee Area Technical College District, WI's $1.5 million General Obligation (GO) Promissory Notes, Series G. Moody's also maintains the Aa2 rating and stable outlook on the district's outstanding general obligation unlimited tax (GOULT) debt, which totals $110.3 million post-sale. SUMMARY RATING RATIONALE The Aa2 rating is indicative of the district's large and diverse tax base encompassing the greater Milwaukee (Aa3 stable) region; relatively weak socio-economic indices; limited revenue raising ability; satisfactory operating reserves; modest debt burden; and manageable unfunded pension liabilities. OUTLOOK The stable outlook reflects our expectation that district management will continue to maintain sound financial operations through prudent management of expenditures, which is critical given the district's limited revenue raising flexibility and recent trend of enrollment declines. The outlook also reflects the district's sizeable and diversifying tax base. WHAT COULD MAKE THE RATING GO UP - Significantly improved regional employment trends and demographic profile - Material growth of operating fund reserves as a percent of operating fund revenues WHAT COULD MAKE THE RATING GO DOWN - Weakening demographic profile or deterioration of the district's tax base - Declining enrollment trends that would further limit revenue growth - Deterioration of reserves STRENGTHS - Large and diversifying tax base with favorable location in the Milwaukee region Page 6

112 - Recent stabilization of operating fund reserves due to timely expenditure reduction - Manageable debt burden and unfunded pension liabilities; unfunded OPEB liability significantly reduced through recent changes CHALLENGES - Relatively weak socio-economic indices - Limited revenue raising power due to state authority over tuition setting and strict levy limits - Maintenance of reserve levels below those of similarly rated entities - Persistent enrollment declines RECENT DEVELOPMENTS Since our last report on November 18, 2015, audited results for fiscal 2015 have become available and reflect a General Fund surplus of $355,000. The district has budgeted for a General Fund surplus of $361,000 in fiscal DETAILED RATING RATIONALE ECONOMY AND TAX BASE: DISTRICT COVERS METROPOLITAN MILWAUKEE; REBOUNDING OF TAXABLE VALUATIONS The district's economy is expected to remain relatively stable, due to the strength of the diverse commercial sectors within the district's boundaries. The district, which is one of the largest in Wisconsin's technical college system, provides vocational education to residents of Milwaukee County (Aa2 stable), the majority of Ozaukee County (Aaa) and small portions of several other surrounding suburban counties. The City of Milwaukee comprises nearly 40% of the district's equalized valuation and 56% of the district's population, and is Wisconsin's largest urban center and economic hub. After five consecutive years of declines, the district's very large $72.7 billion tax base grew by a moderate 2.3% in 2014 and 1.2% in Inclusive of the increase, the tax base has declined by an average annual rate of 2.4% since The regional economy exhibits some manufacturing concentration as the sector represents approximately 15% of area employment, above the 9% national average; however, employment continues to diversify and there is a strong presence in health care, finance, and government. At 4.9% in September 2015, the unemployment rate in Milwaukee County was higher than the state's figure of 3.6%, but in line with the national figure, over that same period. Socio-economic indices are relatively weak, with median family income for Milwaukee County at 85% of the US. After enrollment grew in fiscal 2009 and 2010, the trend reversed and enrollment has since declined annually. Declines in fiscals 2011 through 2014 brought enrollment to approximately 12,417 FTE students. The fiscal 2015 budget, which included a projected enrollment of 12,650 FTE, was based on a 350 student decline from the fiscal 2014 budget. However, enrollment for the fall and winter terms fell by more than management anticipated. Despite the addition of a condensed winter term during the traditional winter break that enrolled nearly 200 FTEs, fiscal 2015 enrollment stood at 11,811. The college budgeted for flat enrollment in fiscal 2016 and management notes preliminary figures are in-line with budgeted expectations. Additionally, a new privately funded initiative to grant qualified low income students free tuition is expected to increase the college's 2017 enrollment by approximately 1,000 students. Management notes the college has received approximately 3,000 applications for the program thus far. Enrollment is a key revenue source for Wisconsin technical colleges and continued declines may pressure the district's finances. FINANCIAL OPERATIONS AND POSITION: RECENT STABILIZATION OF GENERAL FUND RESERVES; LIMITED REVENUE RAISING ABILITY The district's financial profile is expected to remain stable due to satisfactory reserve levels and a demonstrated willingness to align revenues and expenditures. After three consecutive draws on General Fund reserves, driven by enrollment declines, state aid cuts and drops in property tax revenues, the district posted a General Fund surplus of $355,000 in fiscal The improved operating results were driven by a variety of expenditure reductions including personnel and benefit changes. The surplus increased available operating fund (combined General and Debt Service funds) reserves to $43.6 million and an adequate 20.6% of operating fund revenues. Page 7

113 The district has four enterprise funds, consisting of the Television Operations, Food Services, Bookstores, and Childcare Funds. Historically, the four enterprise funds collectively have required approximately $2.2 million of annual General Fund support to balance operations. Favorably, no General Fund support was needed in fiscal Management notes a commitment to maintaining reserves at a minimum of 10% of revenues, in compliance with the district's official reserve policy. The General Fund's three primary revenue sources are state aid, property taxes, and tuition, which comprise approximately 45%, 26%, and 24% of General Fund revenues, respectively. All of these revenue streams are constrained by state statute, with the state dictating tuition rates, aid distributions, and levy limits. Starting in fiscal 2015, Wisconsin Act 145 provides property tax relief by shifting a portion of funding for technical college districts from local property taxes to state sources. The Act includes a "hold harmless" provision allowing districts to restore levy authority if state funding is not available to make districts whole in subsequent years. Additionally, districts are still allowed to capture annual revenue growth from net new construction. While we expect the Act to be revenue neutral for Wisconsin technical college districts, state aid related to Act 145 was received in late February, six months earlier than the district would have received the property tax revenues the funds are replacing. The shift from property tax to state aid is expected to eliminate MATC's need to borrow from other funds for cash flow purposes. For fiscal 2016, state funding for technical college districts is flat though an increased 20% of state aid, up from 10% in fiscal 2015, will be rewarded based on performance measures. Despite an expected reduction in state aid of approximately $1.2 million due to changes in funding formulas, the district's fiscal 2016 budget reflects a General Fund surplus of $361,000. While some of the revenue loss will be offset by a property tax levy increase due to net new construction, which totaled 1.0% in 2015, certain positions have been held vacant in an effort to reduce costs. In addition, changes to the district's health insurance plans are expected to yield up to $1.5 million in cost savings. Liquidity The district's General Fund unrestricted cash totaled $32.8 million at the close of fiscal The General Fund holds cash on behalf of the district's enterprise funds. Net of the $11.6 million due to these funds, cash available for operations was $21.3 million in fiscal When including additional liquidity within the Debt Service Fund, operating fund net cash totaled $43.8 million and 20.7% of operating fund revenues. DEBT AND OTHER LIABILITIES: MODEST DIRECT DEBT AND PENSION BURDENS; RECENT REDUCTION IN OPEB LIABILITY We expect the district's debt profile will remain manageable given aggressive principal retirement and the district's sizeable base. The district's 5.2% overall debt burden is above average and reflects significant borrowing of overlapping governmental entities, namely the Milwaukee Metropolitan Sewer District (Aa1 stable) and Milwaukee County. The district's direct debt burden is a more modest 0.2% of full value and 0.5 times operating revenues. Principal is amortized at a rapid 96% in ten years and the district's future borrowing needs are not expected to increase the debt burden substantially. The district anticipates issuing $39 million in GO debt within the next twelve months. The district's fixed cost burden is moderate at 28% of operating fund expenditures. Debt Structure All of the district debt is fixed rate and matures by Debt-Related Derivatives The district has no derivative exposure. Pensions and OPEB The district has a manageable defined-benefit pension burden, based on unfunded liabilities for its share of two cost sharing plans, the Wisconsin Retirement System and the Employees Retirement System. The district's aggregate pension contributions in fiscal 2014 totaled $16.1 million, which represented both the district's and employees' shares of required pension contributions. That figure represents a manageable 7.5% of 2014 operating revenues. The district has historically made its required contributions to the WRS. The three year average ( ) of Moody's adjusted net pension liability (ANPL) for the district, under our methodology for adjusting reported pension data, was 0.2% of full value and 0.51 times operating revenues, both of which are below average among Moody's rated local governments. Moody's ANPL reflects certain adjustments we make to improve comparability of reported pension liabilities. The adjustments are not intended replace the district's reported contribution Page 8

114 information, but to improve comparability with other rated entities. We determined the district's share of liability for WRS in proportion to its share of covered payroll. Historically, the district offered a generous OPEB plan to qualifying retirees, including offering health insurance to those who would otherwise qualify for Medicare. Beginning July 1, 2015, post-65 retirees receiving healthcare benefits from MATC have been moved to a Medicare Advantage Plan offered by United Healthcare. As a result, the district has reduced its unfunded actuarially accrued liability (UAAL) from $260 million as of July 1, 2013 to $118 million as of July 1, In addition, the MATC board recently adopted policies to eliminate postemployment healthcare benefits to new faculty employees hired after June 30, 2015; MATC faculty were the last remaining category of employees eligible to receive such benefits. Management anticipates the changes will completely eliminate the district's OPEB liability over the long-term. MANAGEMENT AND GOVERNANCE: STRONG INSTITUTIONAL FRAMEWORK WITH CONSIDERABLE EXPENDITURE FLEXIBILITY Wisconsin community college districts (CCDs) have an institutional framework score of "Aa", or strong. Wisconsin technical college districts benefit from very large tax bases, ample reserves, and considerable expenditure flexibility provided by Act 10. These credit attributes partially offset revenue constraints caused by state control of tuition and enrollment fluctuations that run counter to economic cycles. KEY STATISTICS full valuation: $72.7 billion -Estimated full value per capita: $70, Milwaukee County median family income (as % of US): 85.7% -Fiscal 2015 available operating fund balance: 20.6% of revenues -Five year change in available operating fund balance: -8.2% of revenues -Fiscal 2015 unrestricted operating cash: 20.7% of revenues -Five year change in unrestricted operating cash: -8.7% of revenues -Institutional framework: Aa -5-year average of operating revenues / expenditures: 0.97 times -Net direct debt: 0.2% of full value; 0.5 times operating revenues -Three year average of Moody's ANPL: 0.2% of full value; 0.5 times operating revenues OBLIGOR PROFILE The district, which is one of the largest in Wisconsin's technical college system, provides vocational education to residents of Milwaukee County, the majority of Ozaukee County (Aaa) and small portions of several other surrounding suburban counties. LEGAL SECURITY Debt service on the notes is secured by the district's general obligation unlimited tax pledge which benefits from a designated property tax levy not limited by rate or amount. USE OF PROCEEDS Proceeds from the notes will finance various infrastructure repairs and building improvements. PRINCIPAL METHODOLOGY The principal methodology used in this rating was US Local Government General Obligation Debt published in January Please see the Credit Policy page on for a copy of this methodology. REGULATORY DISCLOSURES Page 9

115 For ratings issued on a program, series or category/class of debt, this announcement provides certain regulatory disclosures in relation to each rating of a subsequently issued bond or note of the same series or category/class of debt or pursuant to a program for which the ratings are derived exclusively from existing ratings in accordance with Moody's rating practices. For ratings issued on a support provider, this announcement provides certain regulatory disclosures in relation to the rating action on the support provider and in relation to each particular rating action for securities that derive their credit ratings from the support provider's credit rating. For provisional ratings, this announcement provides certain regulatory disclosures in relation to the provisional rating assigned, and in relation to a definitive rating that may be assigned subsequent to the final issuance of the debt, in each case where the transaction structure and terms have not changed prior to the assignment of the definitive rating in a manner that would have affected the rating. For further information please see the ratings tab on the issuer/entity page for the respective issuer on Regulatory disclosures contained in this press release apply to the credit rating and, if applicable, the related rating outlook or rating review. Please see for any updates on changes to the lead rating analyst and to the Moody's legal entity that has issued the rating. Please see the ratings tab on the issuer/entity page on for additional regulatory disclosures for each credit rating. Analysts Coley Anderson Lead Analyst Public Finance Group Moody's Investors Service Rachel Cortez Additional Contact Public Finance Group Moody's Investors Service Contacts Journalists: (212) Research Clients: (212) Moody's Investors Service, Inc. 250 Greenwich Street New York, NY USA 2015 Moody s Corporation, Moody s Investors Service, Inc., Moody s Analytics, Inc. and/or their licensors and affiliates (collectively, MOODY S ). All rights reserved. CREDIT RATINGS ISSUED BY MOODY'S INVESTORS SERVICE, INC. AND ITS RATINGS AFFILIATES ( MIS ) ARE MOODY S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES, AND CREDIT RATINGS AND RESEARCH PUBLICATIONS PUBLISHED BY MOODY S ( MOODY S PUBLICATIONS ) MAY INCLUDE MOODY S CURRENT OPINIONS OF THE RELATIVE FUTURE CREDIT RISK OF ENTITIES, CREDIT COMMITMENTS, OR DEBT OR DEBT-LIKE SECURITIES. MOODY S DEFINES CREDIT RISK AS THE RISK THAT AN ENTITY MAY NOT MEET ITS CONTRACTUAL, FINANCIAL OBLIGATIONS AS THEY COME DUE AND ANY ESTIMATED FINANCIAL LOSS IN THE EVENT OF DEFAULT. CREDIT RATINGS DO NOT ADDRESS ANY OTHER RISK, INCLUDING BUT NOT LIMITED TO: LIQUIDITY RISK, MARKET VALUE RISK, OR PRICE VOLATILITY. CREDIT RATINGS AND MOODY S OPINIONS INCLUDED IN MOODY S PUBLICATIONS ARE NOT STATEMENTS OF CURRENT OR HISTORICAL FACT. MOODY S PUBLICATIONS MAY ALSO INCLUDE Page 10