Sarah Holloway

The committee reviewed the results of the annual trustee self-evaluation and survey, identifying needs for improved trustee engagement and additional training on university budgeting processes. The committee discussed updating the Board policy on trustee attendance to encourage in-person participation. Additionally, the committee accepted its work plan for the upcoming year, discussed the structure of the Chancellor position, and received an update regarding board diversity as a standing agenda item.

The committee approved amendments to the Equal Employment Opportunity policy and a resolution authorizing UNH Wildcat Transit to apply for federal programs, and accepted an informational report on talent management. Discussions included updates on systemwide goals, the strategic vision in light of projected enrollment declines, the status of federal student visa impacts, and the state budget process, including potential funding reductions. In nonpublic sessions, the committee renewed the employment agreement for the Plymouth State University President and approved the appointment of a new Provost and Vice President for Academic Affairs at the University of New Hampshire.

The committee reviewed the university system's investment portfolio performance and discussed updates to investment policies and guidelines, specifically regarding asset allocation and a temporary suspension of new investments in illiquid assets until a five-year financial plan is finalized. The committee also examined capital projects for the University of New Hampshire, including renovations to the Whittemore Center, infrastructure improvements for Morse Hall, and life safety upgrades for the PCAC. Additionally, the committee approved a budget for the replacement of district heating lines and domestic hot water heating plant at Smith Hall.

The committee reviewed the investment portfolio performance, market environment, and liquidity status. Discussions included the status of private equity investments and updates on the capital projects policy. The committee approved a budget for life safety system renovations at the UNH Paul Creative Arts Center. Additionally, an update was provided on the Innovation District project at UNH, including the status of the memorandum of understanding with the selected partner and governance considerations.

The Committee discussed the preliminary assessment of the fiscal year 2026 budget, identifying significant challenges including reduced state appropriations, decreased federal research grant support, and declining enrollment due to regional demographics. There was an in-depth review of potential impacts on capital spending and the university's research enterprise, alongside a discussion on the state budget approval timeline. The Chancellor also provided an update on systemwide goals, focusing on modeling future structures to address long-term budgetary sustainability and physical plant management.