Dr. Aruna Krishnamurthy addressed the board regarding contract negotiations. The MSCA Union is concerned that the negotiations are protracted. She indicated that there is movement and hopes that the process will go smoother. Mr. Irving responded that he shared the same hope.

Mr. Irving introduced new Trustee, Ms. Christie Stover.

Mr. Jay Kaufman began by introducing himself, Mark Snyder, Michelle Scott, Maryellen Scarselli and Sarah Kielty with CohnReznick. He presented and discussed the Financial Statements for the university. There were no findings. There was no formal management letter issued. All the Financial statements, including Financial Aid are being issued with a clean, unmodified opinion. He thanked Jay Bry, Yvonnie Malcolm, consultant Cathy Daggett and the Financial Services staff for their hard work.

Mr. Snyder reviewed a number of prepared PowerPoint slides. He touched on the statements of revenues, expenses and changes in net position; and the statements of cash flow. Mr. Kaufman briefly highlighted some of the footnotes and disclosures and assets. He stated that many of the footnotes are considered to be boilerplate. He commented that the university is very diligent in its fiscal management. A discussion ensued.

Mr. Irving reported that the Finance & Administration Committee had previously met and approved acceptance of the audit.

The personnel actions were presented for informational purposes.

Mr. Irving discussed the committee membership. He stated during this rapid transition period he asked Ms. Phillips to serve as Interim Clerk. Ms. Phillips accepted. The trustees are to get back to the Chair on the committees on which they would like to serve. 

A newly created dashboard was presented by Mr. Irving. He noted that the dashboard had been developed as his request so that longitudinal data could be periodically presented and reviewed. He stated that it was important to pay attention to trends taking place within the institution and to note changes positive and negative so as to be proactive. Mr. Irving stated that the dashboard could be modified if new areas of interest arose. There was a discussion.

President Lapidus reported that the university is beginning to recruit for next year. Last weekend on Oct. 14, the university held its first open house. The numbers were consistent with those from last year. He noted that the university was just at the beginning of the process. He stated that the new customer relationship software implemented will assist in being a bit more aggressive with recruiting than in the past. He noted downward enrollment trends around the state including at the community colleges’ feeders. He emphasized that with a limited number of revenue streams, enrollment is an important component to financial stability. He informed the board that a new Admissions Director was hired.

President Lapidus reported that the campus received a US Department Education award for Upward Bound Math and Science. This is a five-year grant with $263,000 annual support.

President Lapidus informed the board of the recent Richard P. and Elizabeth "Betsy" Fisk Nursing Scholarship. Other scholarships have also been received. Work will continue to educate alumni on estate planning.

The Go Falsons Challenge was discussed.      

President Lapidus updated the board on Homecoming activities. The university tried some new things this year and had some nice alumni events. A brief video was presented.

The student job website is up and running.

The news articles are submitted for informational purposes.