Emily Ackerland

The Finance, Administration & Audit Committee meeting agenda covered several significant areas. Key discussion items included the Q1 Budget Report, which indicated a higher forecasted operating deficit primarily due to Enrollment and General Fund (E&G) revenue shortfalls and increased Tuition Free Degree support. The committee reviewed the Multi-year Enrollment and E&G Forecast, noting significant enrollment declines and potential future state funding constraints, leading to downward revisions in budget scenarios. Updates were provided on the Bridge to the Future 2.0 initiative aimed at achieving financial sustainability, with detailed recommendations expected in March. Furthermore, the results of the FY2024-25 Financial Statement Audit were reviewed, which resulted in an unmodified audit opinion with no material weaknesses noted. Finally, updates on capital projects included a recommendation for the Millar Library renovation and a request for an additional $15 million in debt for the Housing project.

The document lists individuals and groups who submitted public comments for the Board of Trustees meeting. Key discussion topics included Portland State's enrollment challenges and budget crisis, union support, contract negotiations, proposed budget cuts, the impact of impending cuts on students and the community, the closure of the University Place Hotel, strategies for long-term care and success of urban assets on campus, and the preservation/reuse of the Blackstone Building and Montgomery Court. Additionally, written comments addressed sponsored projects administration.

The committee meeting focused on several substantial agenda items, including a presentation and discussion regarding building comprehensive General Education reform at PSU, presenting an overview of the process and early draft white paper for campus feedback. A separate presentation provided an update on PSU's Academic Plan for Institutional Vitality and Transformation (PIVOT), detailing progress on realigning academic offerings to address structural deficits. The committee reviewed standing reports from Student Affairs, Student Success, Enrollment Management, and Academic Programs in Review. A key action item was the discussion and recommended approval for a New Program Proposal: Bachelor of Science (BS) in Artificial Intelligence within the Computer Science Department, slated for a Fall 2026 start.

The Finance & Administration Committee meeting agenda included several key operational and financial reviews. Discussion items covered the Committee Work Plan, Capital Projects updates, and the Cash Flow Forecast. The committee also reviewed the Q1 Budget Report, the Multi-year Enrollment and E&G Forecast, and the 'Bridge to the Future 2.0' update regarding FY2026-27 Tuition and Budget Guidance. A significant portion of the meeting was dedicated to reviewing the FY2024-25 Financial Statement Audit, as well as providing updates on current capital projects like the Vernier Science Center, Art and Design building, and the New Housing Building.

The Board of Trustees of Portland State University is scheduled to hold regular committee meetings. The Academic & Student Affairs Committee plans to discuss comprehensive general education reform, receive an update on PIVOT, and consider a new Bachelor of Science program in Artificial Intelligence. The Executive & Governance Committee will hear reports from the Board Chair Pro Tem and the President, review and approve the proposed board calendar for Academic Year 26-27, and discuss a consultant's report on board governance practices, with a portion conducted in executive session for labor negotiations and attorney-client privileged matters. The Finance, Administration & Audit Committee will review the Quarter 1 budget report, view mid-year enrollment and Executive & Governance forecasting presentations, receive an update on Bridge to the Future, review the Fiscal Year 24/25 Financial Statement Audit, and receive a Capital Projects update.