February 11, 2014
Institutional Priorities Committee
Minutes of February 11, 2014
3:00pm - 5:00pm
DeRosa Center Room 211
Present: Cavanaugh, Day, Eibeck, Fox, Gale, Gutierrez, Hein, Kleinert, Luu, Lyon, Meyer (Chair), Murta, Pallavicini, Perrot, Shaw, Staniec
Absent: Arnold, Atterbury, Lackey, Leland, Martin, Rogers
Guests: Torry Brouillard-Bruce, Steven Jacobson, Breann Northcutt, Ed Pegueros
Call to Order: 3:00pm
Minutes for the January 28, 2014 meeting were approved.
Room and Board proposal and financial plans
Proposed room and board rates and revenue projections were shared by Day, Brouillard-Bruce, Jacobson and Northcutt. A change of 1.01% for the most popular room and board plan is being proposed. Room rates were compared to comparable institutions in California. Pacific ranked as the second lowest in the room rate comparison. Another factor that needs to be explored in more depth is the cost of on-campus housing as it pertains to the fair market rent value of living in the Stockton community and how that value compares to the comparable institutions.
Dugoni budget and financial plans
Dugoni budget assumptions for FY 15 were presented by Pegueros. Assumptions included enrollment and tuition increases. Overall, tuition is expected to increase by 4.8%.
Currently Dugoni is not at capacity. The new location, which is closer to BART, should help with this problem. Expenses at the new building are expected to be comparable. Dugoni is also exploring ways to be more attractive to the patients that have a variety of problems while still being respectful of the patients' time (students learn more from patients who have comprehensive needs). Different and creative ways to bundle fees are also being considered.
McGeorge budget and financial plans
Murta presented confidential information on the McGeorge School of Law.
Future Agenda Items
- Finalize budget to be shared at Campus Forum
- Tuition Remission Policy report
- Financial aid/tuition financial strategy
- Scannell and Kurz will be invited to speak to the IPC on March 11
- Strategic Investment Fund
- OIT budget