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November 13, 2007

University of the Pacific
Minutes, November 13, 2007
Taylor Conference Room

Call to Order:  2:04 p.m.

Present: Brodnick, Cavanaugh, Cox, Dodson, Foster, Frederick, Gilbertson, Griego, King, Klunk, Lackey, Leland, Schmidt, Spreer, Swagerty, Williams

Not Present: Perrot, Dental School Rep.

Special Guests: n/a

Announcements: On Friday, November 9, 2007, the President announced that he would not present the FY 2009 tuition proposal to the Board until its January meeting.. Accordingly, the December meeting of the Finance Committee of the Board to preview that recommendation has been cancelled.. The tuition increases and expenditure budgets for all three campuses will be presented to the Board meeting in April ‘08. Cavanaugh advised that it was likely the budget for FY 2009 would be challenging and the units should take that into account in preparing their budget requests. At its January meeting ,the entire Board, not just the finance committee will review the Tuition Policy presentation it considered in January, 2005, to lay the groundwork for the disposition of the President’s recommendation in April. Cavanaugh will share the outcomes of the January Board Meeting to IPC once the January Board meets.

Minutes: Minutes of November October 30th approved as distributed.

Financial Ratios
Cavanaugh presented the Financial Ratios that was provided to the Board. The numbers here are a recap of the financial strength and stability of the university. The report showed the trends and assets over the past few years by several millions of dollars. Total liability is up by $6.3M or 3.1% overall, one card, technology, bonds, accounts payable, etc. These are all short and long term liabilities. Net assets are up $46.8M or 12.2%. Most of this is due to growth on investment gains in the endowments. There was a slight dip in revenues. In June 2008 looking at applying for another bond of $30-35M to improve or renovate the Tech Center, Multi-purpose Room, Knoles Hall renovation and housing.

WASC Proposal
Brodnick specifically focused on the eight essay questions. Daily updates have been occurring as people provide feedback. This is due into WASC on December 1, 2007. Will follow with a general community email will go out to announce a period of ‘open comment’ invited. What we submit to WASC is our road map through the four years of this self review. It is setting the course as to how we phrase these questions for the upcoming years for Pacific and WASC. The committee provided thoughtful suggestions to better enhance the document, essay three had no comments from the group. The WASC committee has provided much input into the essays and it is important for IPC to decide and narrow down the 24 questions. WASC can hold us accountable for whatever number of questions they will want to explore. There are four essays to focus on in the next 12 months. Committees will be formulating in the future. There will be at least another year before we really move forward.

Next meeting is scheduled for November 27, 2007 in the Library Community Conference Room.

Meeting adjourned at 3:43 p.m.