|
|
 |
Full Minutes from the December 17, 2004 Meeting
Present: Jonathan Brand, Jon Chenette, David Clay, Matt Cleinman, Tom Crady, Leslie
Gregg-Jolly, John Kalkbrenner, Russell Osgood, Todd Reding, Susan Schoen, Marci
Sortor, Jim Swartz, and Karen Voss.
Jonathan Brand opened the meeting at 8:36 a.m. Central Time. He reported that the
two budget steering subcommittees, the academic and non-academic budget groups, have
been reviewing non-salary expenditure requests in order to help balance the 2006 budget
model. At the time of the last meeting, the 2006 model had an approximate $3M deficit. The
deficit in the current model is under $1M as a result of savings in non-salary expenditure
requests, adjustments in the budgeted student figures; changes in the financial aid pool;
reductions in the FM budget; and a modest increase in the endowment contribution.
Discussion ensued with respect to further possible reductions, such as in the financial aid
pool.
He reviewed the budget assumptions and discussed the significant differences
between this year's and the 2006 budget models. This discussion included current
assumptions such as the size of the budgeted student body; the comprehensive fee
increase; the increase in the financial aid pool; gifts and grants; the endowment
contribution; fringe benefits and salary increases; additional faculty positions; and
facility-related costs.
The Budget Committee of the Board of Trustees will next meet on January 13, and it
is the Budget Steering Committee's goal to present the Board's Committee with a balanced
2006 budget model. The Budget Steering Committee may meet again before January 13.
The meeting was adjourned at 9:05 a.m.
Submitted by,
Susan M. Schoen
|
|
|
