Committee members reviewed current enrollment, and then a more in-depth review of the enrollment applications received (both for new students and for returning students).  The committee acknowledged the very focused work of the Enrollment Team in the various ways they are engaging with families and students.  It was noted that the Board has a report due to SUNY CSI on May 1st and that the CSI directive is that the draft budget be aligned with applications in hand -- not trend, not anything but applications in hand.  

Ms. Moree and Ms. Harrison reviewed various elements of the draft budget under development.  With the report due to SUNY on May 1, the focus has been on ensuring that the overall staffing structure under development aligns with ability to provide an educational program for our students.  The proposed budget has been developed with an overall employee FTE of 43, in support of an enrollment of 275.  Ms Getto has been working closely with Ms. Smith and Mr. Romero on ensuring that the scheduling is tight and efficient, noting that the current processing is not as efficient as it can be, and some classes are so underenrolled that programming needs to be more thoughtfully planned and executed.  Ms. Moree and Ms. Harrison are working with other members of the leadership team to look for efficiencies in all other areas of spending -- from technology, to facilities, to support services.  The goal is that the budget will be further refined through the end of June when the board votes on the budget.

Separately Ms. Moree updated the committee on the ongoing discussions with bondholders; she noted a draft forbearance had been prepared and submitted by counsel in early April and that no response had yet been received from bondholder counsel.  The submission mirrored what the bondholder consultants - FUSE - had recommended and was based on their fiscal analysis.