December 18 2002
University of the Pacific
Institutional Priorities Committee
Minutes, December 18, 2002
3:00-5:00 , Taylor Conference Room, Library
Members & Guests Present: Gilbertson (Chair), Cavanaugh, Hoverstad, Jones, Jacobson, Lundergan, Meer, Miller, Olson, Oppenheimer, Spreer, and Perro.
The meeting was convened at 3:00 p.m. Minutes of the meeting of December 11 were available but not approved.
Consideration of the spring semester meeting time resulted in the decision to change regular meeting from 3 - 5 Wednesday to 2 - 4 Wednesday. The meetings of January 15 and January 22 may be extended meetings (2 - 8 p.m.).
Perro presented a detailed report of the budget consideration for the Stockton campus for fiscal years 2004 and 2005. The report, which was distributed to the members, included (1) an analysis of tuition revenue and enrollment trends, (2) a summary of additional unrestricted expenditures approved since 1999 have been used, (3) Initial revenue budget projections, (4) Initial resource allocation recommendations, (5) two options regarding salary and compensation plan adjustments including background data on the proposed salary adjustment strategy, (6) unit initiatives by division, by university priority, and by unit objective, and (7) a complete list of ongoing and one-time requests brought forward for consideration for funding in FY04. A general discussion followed the presentation.
After discussion, the Committee endorsed a salary and compensation plan that: (1) reaches market targets in four years and (2) increases the contribution to TIAA-CREF by ½% per year for that period. Perro's analysis showed that, based on current projections, the implementation of such a plan would leave no funds available for strategic investment in FY04. Therefore, the Committee agreed to develop a "short list" of ongoing priorities. Each member of IPC is to submit a list of recommendations for inclusion on the short list totaling no more than $500,000 to Marcus Perro by January 8. He will compile the individual recommendations for consideration at the January 15 meeting.
Cavanaugh reported that there is some possibility that strategic durable (> 7 years) instrumentation and equipment might be funded by a short-term bond now under consideration. In view of this, the Committee Chair agreed to assemble a small group to determine if any of the FY04 one-time requests would qualify for such funding. Subsequent to that, the Committee will develop a short contingency list of one-time requests (absent those items eligible for bond funding) to which unexpected one-time funds will be applied.
The Chair wished everyone a happy holiday. The meeting adjourned at 5:00.