Since the February board meeting, changes in FY21 operating funds include: ¾ $17.5M increase in operating revenues due to state and federal funding decisions ¾ $0.6M decrease in operating expenses due lower staffing ¾ $15.5M swing in net margin compared to budget ¾ Bond covenants are satisfactory for now
VP Klucking also gave an update on the State Biennial Capital budget. CWU received re-appropriations for Health Sciences, Health Education, Minor Works Program, Minor Works Preservation, and campus security funding in the amount of $20,630,000. In addition, new funding ($72,360,000) was received for Health Education, chiller addition, Humanities and Social Science Complex, Minor Works Program and Minor Works Preservation. LONG-TERM INVESTMENTS Extreme restrictions associated with the delivery of educational programs and the operation of the residential campus have placed historic stress on university resources. Federal assistance and a flat state budget have forestalled a budget crisis for now, but the future is uncertain. Public health regulations and challenges continue to shift, and CWU’s enrollment position will not recover fully for some time. Federal COVID-relief funds are “one-time” funds; they may only be used once and are restricted other ways in their use. Similarly, the absence of state funding cuts in FY21 also will result in the availability of funding that only can be used once. At the board’s February meeting, trustees expressed the need to plan strategically for the emergence from the pandemic. Rather than looking backward to “pre-COVID” budgets, the trustees directed that the university should look forward and construct budgets based on the work needed to support student success and to ensure a stable and effective educational environment going forward. In February the board unanimously approved a motion directing staff to “develop recommendations for long-term Investments that will position the university to deliver a unique, relevant and high-quality educational experience that differentiates CWU from other Washington universities.” President Gaudino outlined deferred needs that require one-time investment, and which could occur in phases over more than one year. The investments support one of CWU’s three top priorities and/or reduce liability. The investments are of value to the entire enterprise of the university and fall generally into two categories: updating and upgrading information infrastructure and modernization of equipment. Motion 21-16: Mr. Conner moved that the Board of Trustees of Central Washington University direct staff to work with President Wohlpart to develop recommendations for further consideration in July. Ms. Gillis seconded the motion. The motion was approved.
The regular meeting of the board ended at 2:30.
EXECUTIVE SESSION The executive session was scheduled to begin at 2:30 p.m. Trustee Nellams announced that the executive session would begin at 2:45 p.m. The board convened in executive session at 2:56 p.m. for 30 minutes as allowed per RCW 42.30.110 (g). The executive session ended at 3:26 p.m. Board and Cabinet members participated in a walk-through of the new Health Sciences building followed by a reception at the University House/President’s Residence. The group was given a briefing
3 Board of Trustees Minutes May 13-14, 2021
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