Maria Brunelle

This document outlines Holyoke Community College's commitment to developing its third Strategic Plan, SP 3.0. The plan aims to position the institution for future success by focusing on five strategic frameworks: 'Our Values In Action' to enhance the workplace, 'Academic Distinction' for elevated learning, 'Student Experience' fostering belonging, 'Collaboration and Partnership' for community impact, and 'Workforce and Post-Graduation Success' to prepare students for careers. The overarching vision is to educate, inspire, and connect students and the community.

The meeting addressed several agenda items, including the consideration of the Consent Agenda, which encompassed the approval of minutes from the March 28, 2023, meeting, a report on personnel actions, authorization for the President to approve future personal actions, and annual authorization for key personnel to sign legal documents. The Chair reported on participation in the American Association of Community Colleges' Conference and highlighted the announcement of a $10 Million Gift, noted as the largest to a community college in Massachusetts. The President reported on the 'Together HCC Campaign to Change Lives.' A significant portion of the meeting was dedicated to the Presidential Selection process, where the Board reviewed the search timeline and deliberation process. Following initial candidate scoring and discussion, the Board narrowed the candidates and ultimately voted to recommend Dr. George Timmons as the next President to the Board of Higher Education, authorizing the Chair to negotiate terms.

The Audit and Finance Committee meeting addressed several key financial and operational matters. Discussions included an update on the Higher Education Emergency Funds (HEERF) distribution across various federal and state stimulus awards, detailing amounts awarded, spent, and remaining balances as of late December 2021. The committee also reviewed the Fiscal Year 2021 audit, which was presented by O'Connor and Drew P.C., and subsequently accepted. Furthermore, the Fiscal Year 2022 first quarter revenue/expense statement was reviewed and approved. The committee also discussed investment updates pertaining to Commonfund and Eaton Vance holdings, reviewing asset allocation, performance details, and realized gains/losses as of December 31, 2021. A capital project request submission to the Department of Capital Asset Maintenance and Management (DCAMM) was approved, including a commitment of up to $2M from reserves if the project is funded.

The primary focus of the meeting was the finalization of the Presidential Selection process. The Board reviewed the chronology of the search, including the selection of the search consultant and the interview schedule for the finalists. Following deliberations, the Board conducted an official selection vote, resulting in the selection of Dr. Christina Royal as the Board of Trustees candidate for President with a vote of 5 to 2. The Board subsequently voted unanimously to endorse Dr. Christina Royal for the position. Additional items addressed included a recommendation from the Finance Committee to approve supplemental rent payments or other financial guarantees of up to $1.9 million to the HCC Foundation contingent upon occupancy of the Hospitality and Culinary Arts Center.

The meeting included the approval of personnel actions, specifically appointments and reappointments for MCCC Unit Professional Staff and Faculty members, and approval of recommendations for Change in Rank. The Board voted to empower the College President to approve all subsequent personnel actions until the next meeting. A sabbatical proposal for Professor Mark S. Clinton was presented, focusing on developing a course on the history of Holyoke. The Finance Committee also presented the First Quarter FY 2016 Statement of Revenues and Expenses, noting favorable total revenues (3% up) driven by tuition/fee increases, despite unfavorable investment revenue and auxiliary enterprise revenue. Budgetary projections for Q1 indicated a projected surplus. Additionally, the Second Quarter FY 2016 Statement of Revenues and Expenses was presented, showing overall revenues 1.9% favorable but overall expenses 3.9% unfavorable compared to the prior year, leading to a projected deficit of $955,847, for which corrective action (a 5% expense budget take back) was recommended and implemented.