Carrie Vath

The committee meeting focused on a report from the Vice President for Finance and Administration, including a review of the financial dashboard and discussion regarding financial stress testing. Other key agenda items included an update on the Tuition Advisory Council process and progress, a preliminary preview of tuition and fees for the upcoming academic year, and a review of budget projections and pro forma data.

The committee meeting covered a range of financial and administrative topics. Key discussions included a report from the Vice President on the financial dashboard and HECC updates, a state funding update, and an investment update regarding the university's operating assets and endowment fund. The committee also addressed the Fiscal Year 2019-20 budget, specifically reviewing the roll-forward budget proposal and adopting temporary expenditure authorizations due to legislative and enrollment uncertainties. Future meeting schedules were also noted.

The committee discussed the Vice President's report, which included the committee dashboard, an organizational update, a 2017-18 year-end update, and a proposal to install a 4G cellular antenna on the science building roof. The committee addressed an amendment to the student incidental fee regarding the closure of the Schneider Children's Center. Additional discussions covered the 2018-19 budget calendar, committee meeting schedules, and a first-quarter forecast and pro forma. A separate special meeting was held to authorize a special procurement for architect and engineering services for a boiler project, which resulted in cost savings for the university.

The board meeting covered several critical organizational and financial topics. Key discussions included the President's report on university events, legislative affairs, and faculty awards. Committee reports provided updates on audit processes, financial and enrollment dashboards, capital requests, and academic program proposals. The board established a formal process for setting tuition and fees, approved the 2016-2017 tuition and mandatory fee schedule, prioritized capital projects for the 2017-2019 biennium, and authorized bond financing for the Science Building renovation. Additionally, the board approved a plan for recruiting and developing diverse educators, discussed board appointment procedures, and reviewed institutional conditions and funding requests from the Higher Education Coordinating Commission, as well as updates on accreditation and the ongoing presidential search.

The committee discussed strategic enrollment initiatives supported by new state funding for student success, the status of the McNeal project, and the distribution of funds for collective bargaining agreements. A review of the FY 2016 preliminary funding allocation, potential development of an on-campus hotel, and an enrollment services update were conducted. The committee reviewed the FY 2015-16 budget, including auxiliary enterprise operations, departmental budget notes, and financial impacts of enrollment fluctuations on staffing. A recommendation was approved for the full board regarding the $53.9 million budget and additional provisions for adjunct faculty and graduate assistant hiring. The committee also touched upon the status of a line of credit and planned future discussions regarding the Athletics Department and other personnel expenses.