“The objective continues to remain the same – to improve agency operations, to identify savings and areas where we can combine services and provide better quality service to the students and institutions and families in Illinois and to identify revenue-generating activities. There are some things that we are doing now that we feel we can enhance and develop to promote greater revenue for the agency and thereby for the state. We have to continue to provide the services and programs that we have provided for the citizens of Illinois, continue to provide opportunities for continued staff employment, and then, at the end of the day, if we are able to identify assets that are not necessary to support the agency’s programs, services, and activities, then the Commission is going to be in the position to determine which of those assets they may, or portion of those assets, they may be able to sell in order to generate revenues for the state. We are not only looking at potential sale of a portion of our assets, we are looking at relationships, new strategic partnerships we can identify, new ways we can generate revenue for the state and for the programs and services that we operate.
“The Commission did not take any action as this was a preliminary report that was provided. We are hopeful.”
Chairman Kaplan said, “Realistically is it possible for due diligence to be completed before the end of session?”
Mr. Matejka said, “If the end of session is Friday or the 12 of April, no. But if the end of session is later this year, yes.”
Chairman Kaplan said, “We have a sister state of Missouri that is going through some similar circumstances to us. Where are they with their program and with their changes?”
Mr. Matejka said, “I am not exactly sure. I might point out an interesting comment that the Chairman made. What he viewed as happening in Missouri is they came in and made a decision to do something, and now are going back to try and figure out if it is the right thing to do. At the Commission we are taking a different approach. We are going and looking at the organization, looking at what we can do, and then try to identify what is possible, and then determine what we are going to do after we determine what is possible to do.”
Chairman Kaplan said, “In my experience in being on the Board, ISAC does a marvelous job. You are self-sufficient; take no funds from the General Revenue funds currently for your operations. Your service to ISAC and the predecessor to Mr. McNeil have done marvelous things there. We thank you for your service and look forward to working with you and Mr. McNeil in the future.”
Dr. Washington said, “I would like to say that I was impressed with the meeting we had and the discussion that we had. I think Morgan Stanley is doing a great job of analyzing what the situation is; we frankly do not know what the situation is as they have only spent three weeks to this point in time establishing the facts and what are possibilities. I am impressed with the fact that we are looking at all options now. I think the bottom line that has been articulated so frequently is that ISAC has been doing a great job and we provide a lot of services to students and whatever happens, those services will continue to be available so that we are looking at it in the right way. Thank you for allowing me to participate in the meetings.”
Chairman Kaplan said, “Your service in going to the Board meetings is going to be an invaluable information source for us on the Board.”
Mr. DeRosa said, “Will the presentation given be posted on the College Zone website or open to other access for people who were not able to make it to the meeting?”
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