Consuelo Serna

The meeting centered on the Executive Director's report regarding financial stabilization and operational strategies for the organization. Key discussions included the impact of declining proposal volume and federal funding caps on indirect cost recovery, the submission of the Child Care and Development funding application for the upcoming fiscal year, and priorities concerning audit readiness and achieving a break-even budget. The Board also addressed the ongoing financial burden of debt service for specific university buildings and explored opportunities for revenue expansion through vendor contracts and sponsorships.

The board approved the presentation of Form 990 by external advisors. The Executive Director provided a report on the organization's financial performance, noting operating losses and variances, and an update on the delayed annual audit. The board also discussed the impact of the sponsored programs transition, ongoing business initiatives including RFPs for campus pouring rights and bookstore operations, the potential development of an Apple Campus Store, and plans for redeveloping the Sbarro space into a University Club.

The Board of Directors convened a special meeting to review and discuss the FY 2026-27 Operating Budget. Following a presentation on the budget, the Board voted and officially approved the FY 2026-27 Operating Budget for submission to the Chancellor's Office. No public forum took place during the proceedings.

The board meeting covered the presentation and approval of the 2025 Audit Report. The Executive Director provided operational updates including staffing changes, ongoing RFP processes, facility maintenance requirements for the GE building, event venue reopenings, and vendor partnerships. Additional discussion focused on grant management, updates to conflict of interest forms, and identified organizational risks such as lower enrollment, potential loss of grants, and deferred maintenance. During the public forum, concerns regarding grant fund processing times and process streamlining for Principal Investigators were addressed.

The event was the 68th Commencement Ceremony for the College of Health and Human Services, featuring remarks by Dean Beatrice Yorker and President William A. Cavino. Key discussion points included recognizing the contributions of faculty, staff, and university community members, acknowledging the perseverance of the graduating class of 2015 (which included 89 veterans), and highlighting the achievements of the college, such as its top national ranking for Master's programs and specific student accomplishments like George Lamb's nursing research. The speakers emphasized themes of engagement, service, public good, leadership, and the importance of giving back to the community.