Janice Austin

The meetings covered multiple financial topics, including a report on the 2020 Legislative Session, updates on tuition and fee rate development, and reviews of the university's annual financial statements and Intercollegiate Athletics Programs. Discussions also focused on budget approvals for various departments and funds, including the Pratt Fund, Hotel Roanoke Conference Center, and the Virginia Tech-Wake Forest University School of Biomedical Engineering and Science. The committee reviewed compensation plans for faculty and graduate assistants, university operating and capital budgets for 2020-21, and the renewal of affiliation agreements for related corporations. Additionally, the committee considered resolutions regarding human resources policies and addressed financial performance reports in light of the COVID-19 pandemic.

The committee meeting covered multiple administrative and academic matters. Key discussion topics included reports on faculty appointments to emeritus or emerita status, endowed chairs, professorships, and fellowships. There was an overview of the committee's academic policy responsibilities and an update from the Council of College Deans regarding the response to the pandemic, budget reductions, and instructional planning. Additionally, the Provost provided a comprehensive update on executive leadership changes, university reaccreditation progress, student enrollment data, and fall semester planning, including health-risk mitigation strategies and research recovery efforts. The committee also received a presentation on global research programs and outreach.

The meetings covered multiple agenda items including internal audit reports for various departments such as Chemical Engineering, Graduate Education, Information Technology, and Athletics. The committee reviewed updates on the Enterprise Risk Management (ERM) and Institutional Compliance (ICP) programs, including risk landscapes and compliance assessments. The committee held discussions on public safety regarding the COVID-19 pandemic, received reports on financial statement audits from the Auditor of Public Accounts, and reviewed the proposed audit plan for the upcoming fiscal year. Additionally, the committee conducted performance reviews and discussed fraud, waste, and abuse cases in closed sessions.

The committee meeting covered a variety of campus development and facility management topics. These included an update on agricultural facilities planning and construction, a design review for the new Upper Quad Residence Hall, and a tour of the Creativity and Innovation District Living-Learning Community. During a joint session, the committee reviewed the 2022-2028 Capital Outlay Plan, discussed the financial considerations of the Virginia Tech 2020 Climate Action Commitment, and recommended the resolution for that commitment to the full board for approval. Additionally, the committee considered an appointment to the New River Valley Emergency Communications Regional Authority and received a capital project status report.

The committee held discussions regarding several key projects and reports. These included the approval of a capital project for Hitt Hall, the Falls Church property acquisition debt financing, a comprehensive update on university advancement, and the authorization of a general banking resolution. The committee also received an update on financial impacts related to the COVID-19 pandemic, reviewed the performance of the Virginia Tech Applied Research Corporation, approved changes to the commercial paper program, and reviewed the year-to-date financial performance report.