Martha Barnett

The meeting included the approval of previous minutes. Key discussions involved a fiscal year 2025 year-end overview, noting the challenges of closing the books in a new accounting system (Oracle/Dash), resulting in a $6.2 million revenue surplus, despite shortfalls in budgeted tuition and fees. The discussion clarified that grants and contracts only reflect indirect/administrative costs in the operating budget. Enrollment and retention data for Spring 2026 were presented, showing overall enrollment goals were exceeded, largely driven by growth in returning undergraduate and dual enrollment students, though transfer and new graduate student enrollment saw dips. Fall 2026 enrollment goals were updated, anticipating growth across multiple student categories. Retention rates were analyzed, noting a slight dip in fall-to-fall retention, which is being addressed through initiatives like bridge grants. The discussion also touched upon the new Tennessee Direct Admission Program pilot.

The meeting commenced with acknowledgment of a senior finance major serving on the board and a moment of silence in memory of former University of Tennessee President John. Key discussion centered on enrollment and retention updates, which showed an overall fall enrollment of 8,111 students, representing an approximate 8% increase over the previous year, tying for the second-highest enrollment on record. The enrollment growth model, aiming for 10,000 students, was discussed, noting that the current enrollment exceeded the goal of 7,911 students. Specific updates covered strong growth in first-year student recruitment (9% increase year-over-year), out-of-state enrollment trends (Illinois and Kentucky being top states), and significant gains in dual enrollment, which was up 16% with over 2,000 students. Returning undergraduate retention was up 6%, resulting in the second-highest first-year retention rate in eight years. Discussions also covered transfer student numbers, which saw a slight increase, and growth strategies for graduate programs, including streamlining applications. Efforts to support student success, such as the new bridge grant program for students who lost academic scholarships, were highlighted.

The meeting agenda included the approval of previous minutes, recognition of UT President Award Winners, and updates on enrollment and retention, which showed first-time, full-time student retention at 82.6% and new transfer student retention at 80.1%. A pilot Bridge Scholarship program was detailed to support students losing merit aid. The board reviewed the strategic plan implementation, which includes five goals and 55 targets tracked via a forthcoming accountability dashboard. The fiscal year 2026 budget proposal of $141.5 million was presented, detailing a 3% increase in maintenance fees for in-state tuition and re-establishing an international out-of-state rate at 200% of in-state tuition. The board also approved the appointment of a new student representative. Chancellor updates highlighted capital projects, including the Hall-Moody renovation and the new College of Business and Global Affairs building, and announced several leadership transitions, including the departure of Provost Phil Acree Cavalier.

The Advisory Board meeting featured several comprehensive updates. Key discussions included the Fiscal Year 2025 Year-End Overview, which showed total revenues exceeding expenses, and a detailed Enrollment and Retention Update highlighting significant enrollment growth (up nearly 8% for the second consecutive year) and strong retention metrics, alongside setting goals for Fall 2026 enrollment. An update on the Strategic Plan utilized a new dashboard to track progress on five goals and 24 strategies, including enrollment targets, campus signage upgrades, and the planned Skyhawk Innovation Challenge. Chancellor Freeman provided updates on major capital projects: the College of Business and Global Affairs building programming, value engineering for the TEST Hub to align with budget, and the replacement residence hall project. Furthermore, the Chancellor discussed preparations for the university's 125th-anniversary celebration and the launch of the Chancellor's Leadership Academy for professional development.

The meeting featured opening remarks from the Chancellor expressing enthusiasm for the start of the fall semester and honoring former University of Tennessee President John Petersen with a moment of silence. The board recognized several recipients of the President's Awards for excellence in various categories. A significant portion of the meeting was dedicated to the Fall 2025 Enrollment and Retention Update, which reported an 8% enrollment increase for the second consecutive year, highlighting strong growth in first-year and dual enrollment figures, while noting transfer enrollment was nearly flat. The update also covered retention efforts, including the bridge grant program and the opening of the Library Learning Commons. The second major item involved an update on the strategic plan implementation, including the rollout of a new tracking dashboard, highlighting progress on goals such as enrollment growth and faculty participation in the Center for Teaching and Learning, while noting planning stages for campus signage upgrades. Finally, the Chancellor provided updates on capital projects, noting that the College of Business and Global Affairs building is in the programming phase (completion projected for 2029), the TEST Hub is undergoing value engineering following high bids (construction targeted for spring 2026), and the new residence hall is undergoing value engineering after exceeding budget (completion projected for fall 2028). The Chancellor also discussed the upcoming 125th-anniversary celebration and the launch of the Chancellor's Leadership Academy.