Southern Oregon University

The committee discussed the responsibilities of the Executive and Audit Committee, including the protocols for executive sessions and committee membership. Key topics included an overview of the university's risk management structure, involving the Public Universities Risk Management Insurance Trust, and insurance coverage details. Additionally, the committee received updates on the search for an internal auditor and the board secretary. The committee also reviewed a draft Request for Proposal (RFP) for an external audit and discussed plans to finalize and circulate it.

The committee convened to review the evaluation of the university President for the fiscal year ending June 30, 2015. Discussions focused on the institution's current financial status, including projections for a budget increase, and an overview of enrollment trends. Additionally, the committee determined a preferred quarterly schedule for future meetings and introduced a new staff member to the board.

The committee reviewed the university's audited financial statements for the fiscal year, discussing the impact of Governmental Accounting Standards Board Statement Number 68, pension liability reporting, and the transition of debt classification. The committee recommended the formal acceptance of the audited financial statements. Furthermore, the committee received an update on the search process for an internal auditor and discussed proposals regarding the university president's compensation, including a cost-of-living adjustment, adjustments to moving expenses, and a contract extension.

This document summarizes a campus conversation regarding Southern Oregon University's transformative plan, designed to ensure long-term financial health and distinctiveness. The plan is built upon a proposed mission and vision emphasizing experiential learning through initiatives like 'Rogue Valley as a classroom' and 'mentorship as method,' alongside practical and hands-on work across disciplines. Strategic priorities include centralizing student success support, restructuring administrative and auxiliary services for self-sustainability, and fostering interdepartmental collaboration. The overarching goal is to achieve financial resilience by summer 2027 through internal operational changes, offering streamlined and flexible pathways for students while maintaining a strong connection to the community.

The committee meeting addressed the proposed one-month temporary budget and expenditure authorization for the upcoming fiscal year. Key discussion topics included a report on Workday implementation and reporting progress, a review of Higher Education Coordinating Commission and Emergency Board reports, budget and cash flow updates for fiscal years 2026-2029, and the implementation of the SOU Vitality Plan.