Gretchen Ayoub

Key discussions during the meeting included the Student Trustee Report, which highlighted high attendance at recent campus events and plans to increase outreach to incoming students. The Annual Clery Report indicated no significant increases in crime or safety issues, noting that hazing incidents will be included in the report next year due to a federal mandate. The Academic Affairs Report detailed the hiring of new faculty for the Fall semester and MassArt's participation in a cohort to develop a co-op program launching in 2026-2027, along with partnerships for a Creative AI Certificate and a Comic Arts Course pilot. The Student Affairs Report covered the formation of a strategic recruitment team, a smooth student move-in and orientation, and the allocation of Student Success Funds for campus space improvements and support positions. The Civic and Community Engagement Report provided an overview of the new division's activities and MassArt's Carnegie Classification process.

The committee received an overview of key dates and potential discussions for the coming year. The final FY25 fiscal report showed a positive fund balance due to higher interest on investments and payroll savings. An update on the FY26 fiscal situation indicated that undergraduate enrollment revenue was under budget, but payroll savings and adjustments to sick leave payouts are expected to offset the shortfall. The audit timeline was reviewed, with auditors in the final stages of their process. Updates were provided on campus master planning, compliance and risk assessment, the New York pilot rate, and the Investment Advisory Group's meeting with the college's investment manager.

The meeting included a review of the FY2025 Audited Financials with college auditors. The college is in a positive and sound position with $100M in assets, $25M of which is liquid. There were no material deficiencies; all funds are being recorded and accounted for by all required standards and there is no loss or other inadequacies in MassArt's Audit Process or Internal Controls. Withum issued an unmodified opinion on the financial statements. The A&F Team praised MassArt's A&F Team members for their responsiveness and cooperation and briefly discussed the upcoming A-133 audit. The committee voted to accept and advance the FY25 Massachusetts College of Art and Design Draft Audit to the full board.

The meeting included updates from President Grant regarding the faculty contract and staff and faculty engagement. Corey Zink gave an overview of the new Student Success and Enrollment Management Division. Lauren Wilshusen shared enrollment data for undergraduate and graduate classes, and recruitment efforts for the Class of 2026. Bob Perry briefed the Committee on repairs and maintenance for the Tower building and other campus improvements. Brendan O'Bryan shared updates on the potential impact of the federal shutdown and recent legislation. Robert Chambers shared the plan for updating the campus and Board regarding the work on the Strategic Partnership Plan. The FY24-25 President Evaluation was also discussed.

The meeting included reports from various committees, including Administration & Finance, Advancement, Executive, and Academic & Student Affairs. Key topics included the FY25 audit, fiscal updates, campus master planning, fundraising results, campus improvements, enrollment data, and the Clery Report. The board also discussed the Carnegie Classification Reapplication and the NECHE reaccreditation process.