Excerpted Minutes from the February 12, 2003 Meeting of the Budget Steering Committee
Present: Jonathan Brand, Dave Clay, Tom Crady, John Kalkbrenner, Jacob Kaufman- Osborn, Mark Montgomery, Mickey Munley, Jack Mutti, Russell Osgood, Susan Schoen, Helen Scott, Marci Sortor, Jim Swartz, and Karen Voss.
Jonathan Brand opened the meeting at 8:06 a.m. Central Standard Time. He announced that the Board's Budget Committee had met last week to review the proposed FY 2004 budget. President Osgood reported that he had presented the proposed FY2004 to the Committee. The Board is focused on the endowment payout and contributions to the operating budget and a significant discussion occurred among the Board members concerning the growth in the expenditure base of the proposed budget. The Board's Budget Committee, in its deliberations of the endowment payout, decided it should rethink its current policy and directed the administration to produce several budget models contemplating various payout rates.
The Board's Budget Committee also carefully discussed the college's peer college list and suggestions were brought forward about some changes to it. It will continue to consider other colleges and refine the list as it sees fit.
Discussion ensued regarding issues related to the FY2004 budget which continue to need to be addressed. The Committee heard a report from John Kalkbrenner concerning photocopier use on campus and the costs assessed for usage by academic and administrative departments. At the conclusion of the discussion it was recommended that John Kalkbrenner revise his proposal and bring it back to the Committee for reconsideration.
The meeting adjourned at 9:09 a.m. Central Standard Time.
Respectfully submitted,
Susan M. Schoen
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