The Board discussed the proposal for granting Temporary Financial Approval Authority to the Budget & Finance (B&F) Committee.

The rationale for the proposed authority is intended to enable the B&F Committee to expedite the approval of large-scale purchases that may arise on a rapid timeline during the campus rebuild or over upcoming breaks. This measure aims to prevent the need for convening multiple special meetings of the full Board of Trustees.

Scope and Authority: B&F Chair and Chair Emerita Sara Margiotta clarified that this authority would empower the B&F Committee to approve (not just recommend) necessary purchases.

Financial Threshold: It was reiterated that any contract exceeding $30,000 requires approval from the Board of Trustees (or the B&F Committee under this temporary authority), as the EDP does not have the privilege to independently approve contracts above this limit.

Finality of Approval: Trustee Jane Davis inquired about the nature of the approval. It was confirmed that approval granted by the B&F Committee under this temporary authority would not require secondary approval from the full Board of Trustees.

The Board received an update regarding the necessary civil engineering costs associated with the leveling of the track surface. This preparatory work is essential to ensure the proper and even application and settling of the material.

The expenditure required for the civil engineering services is $14,300. The Budget & Finance Committee has allocated up to $200,000 for the project needs.

DSA Plan Check (Lump Sum): $9,000

10% Consultant Markup: $900

Subtotal (Lump Sum): $9,900

Bid & Construction Support (Time & Materials, Not to Exceed): $4,000

10% Consultant Markup: $400

Subtotal (T&M NTE): $4,400

GRAND TOTAL: $14,300

The Board received an update on various necessary purchases and replacements related to pool safety and infrastructure, all of which are being processed through the insurance claim. Several items have been approved, including the replacement containers and the touch pads. The replacement of the electric golf carts has been verbally approved by the insurer, and the damaged alloy components of the dive stands are also approved for replacement. The purchase of mobile office units for the pool area has been identified as necessary, incurring a cost of $54,000. Additionally, a storage container lost from the Southside of the stadium has been filed for replacement. Pool covers have also been filed as a necessary replacement and further discussion on this item will follow once the insurance filing status is finalized. The total request submitted to the insurance company for all identified pool-related items amounts to $450,969.10.

A Special Meeting of the Board of Trustees has been scheduled for Saturday, December 6th, at 10:00 AM. This meeting will be held on-site at Bowdoin for the Board's visit and walkthrough. 

The Chair requested that all Trustees bring their governance binders to the scheduled meeting next week for a review and to add the training materials provided by Greta Proctor.