September 25 2002
University of the Pacific
Institutional Priorities Committee
Minutes, September 25, 2002
3:00-5:00 , Taylor Conference Room, Library
IPC Members Present: Gilbertson (Chair), Oppenheimer, Meer, Spreer, Stark, Hewitt, Perro, and Brodnick
Meeting convened by chair at 3:00 p.m.
- Gilbertson distributed 4th draft of 2002-2008 Academic Support and Other Unit Program Reviews.
- Perro distributed and reviewed the FY03 budget. He commented that while the Stockton campus freshman enrollment was lower than projected, that the returning student and transfer numbers still indicate an increase in enrollment over the previous year. Gilbertson reported that the discount rate is predicted to one half percent higher than the 2002 discount rate. Perro reported that he and Lynn Fox worked together to identify an accurate projected financial budget at the beginning of the year vs. projected remining resources at the end of the year. Perro reported that the endowment budget was adjusted by $50,000. Perro reported that he and Steve Jacobson identified projected revenue based on actual occupancy/capacity. Perro reviewed the Athletic expenditure, revenue and support.
- Gilbertson asked Perro to review the FY03 Budget Adjustments and commented that IPC is challenged by the schedule that provides an opportunity to review the adjustments and the October Board meeting. Gilbertson reported that there is a 1.7 million budget adjustment request that will be submitted to the Board. He reported that there was a review of the IPC second tier requests. Gilbertson reviewed the proposed instructional adjustments and Perro reviewed the proposed student services and general institutional support proposed adjustments. Hewitt asked for clarification of the forecast of budget adjustments in terms of what has been presented as a need for a tighter budget. Perro referenced the adjustment was in part based on what is believed to be a more accurate projection of financial aid resources at the start of the year vs. end of the year. Gilbertson shared that there continues to be cautious optimism about enrollment even in current economy. Trends indicated that enrollment increases when the economy is not doing well. Gilbertson addresses the expectation that the business enrollment went down and the measures were taken to increase business enrollment.
- The Committee agreed to discuss protocol for budget presentations at the next meeting as well as the schedule.