level it was before the pandemic. Transfer students are admitted year-round, and 70 percent of applications are submitted after January. Emerging trends and challenges for enrollment include: • Affordability remains the top concern for students and their families, who want to know the cost of education upfront. • The demand for certificate programs and three-year bachelor's degrees is increasing. • High school graduates are projected to peak in 2025 and then decline. By 2040, there are expected to be 3.4 million fewer high school graduates (13%). • The South is expected to see growth, while the NE, MW, and W are anticipated to decline by 17%, 16%, and 20%, respectively. • 38 states are projected to experience declines, while 12 states are predicted to see increases. We must focus on strengthening our region and building partnerships to overcome the enrollment challenges. Budget Update EVP Klucking gave an update on budget after six months of actuals. In the state and local funds, tuition and enrollment are on budget. Flight Training fees came in lower than expected. We have done a good job managing expenses. Our enrollment contingency is still intact, and Salary benefits savings are on track. In the System Funds, housing and dining revenues are better than we had planned. We have done a good job of managing these expenses as well. The operating net is higher than planned, and our debt service coverage ratio is forecasted to be slightly higher at 1.40. Today, we are asking for a four percent rate increase in housing and dining. This will not be allocated evenly. It will depend on the type of property and the type of meal plan, but we expect it to be around five percent for housing and three percent for dining. The cost drivers are due to labor costs and other inflation (food, utilities, and building maintenance). Also, for approval this afternoon is a rate increase for summer 2025 tuition. This increase will make it consistent with the academic year rate increases. CWU Response to Executive Orders Andrew Morse, Interim Vice President for University Relations, and Thomas Pedersen, Policy and Risk Coordinator, briefed the board on CWU’s response to the ongoing development of executive actions and agency actions occurring in Washington, DC, under the current administration. Vice President Morse explained that the Executive Leadership Team developed an Executive Action Triage Team. The triage team is comprised of Andrew Morse, Thomas Pedersen, Dania Cochran, Interim Chief of Staff, and Patrick Pease, Provost and Executive Vice President of Academic Affairs. The group meets multiple times during the week to examine what executive actions, agency guidance, or dear colleague letters have been issued. They then
5 Board of Trustees Minutes February 20, 2025
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