August 27, 2013
Institutional Priorities Committee
Minutes of August 27, 2013
3:00pm - 5:00pm
DeRosa Center Room 211
Present: Arnold, Atterbury, Cavanaugh, Cayton, Day, Eibeck, Fox, Gale, Kleinert, Lackey, Lyon, Luu, Meyer (Chair), Murta, Pallavicini, Pappas, Rogers, Shaw, Staniec
Absent: Leland, Martin, Perrot
Guests: Jonallie Parra
Call to Order: 3:00pm
Welcome and Introductions
Meyer asked members of the committee to introduce themselves and shared the charge of the IPC, which can be found online here.
Comments from President Eibeck
The IPC will provide input on a number of high-level assumptions; issues can go beyond next year's budget. Committee members need to communicate IPC issues to their constituencies, however, at times confidentiality may be important. Confidential matters will be specifically identified as they arise.
Strategic Investment Fund (SIF)
Units at Pacific have been asked to reallocate 6%-7% of their budgets in order to create a Strategic Investment Fund (SIF). The SIF will allow Pacific to invest in future initiatives.
Key institutional priorities that University leadership has identified for FY 14 and FY 15, closely aligned with Pacific 2020, will guide the early investments of the SIF resources:
- Focus and align our programs
- Launch new academic programs
- Improve student success
- Advance through philanthropy
A gift of over $100M from Bob and Jeannette Powell will go into an endowment which will allow for matching opportunities for donors. The Powells were committed to improving access to education.
FY15 budget planning
The IPC deals with the incremental changes to the budget. Committee members will help make recommendations based on revenue and expense assumptions. Last year, the IPC committed 500k to the SIF. Mandatory adjustments will be considered before the IPC can make recommendations for allocating remaining incrementals.
The Strategic Planning Committee (SPC) is looking at a way in which call for proposals to the University at large can occur around strategic focused areas (key change initiatives will be considered as well as other good ideas that are coming from members of Pacific). The IPC's involvement in the review of strategic planning initiatives is still to be determined. President Eibeck suggested that the IPC have a joint meeting with the SPC to discuss this.
It was determined that the IPC will not receive proposals this year and will instead consider budgetary implications regarding:
- McGeorge School of Law
- Course fees
- Supplementing the SIF
- Tuition remission
- Emeritus healthcare
Focusing on Our Future
Timelines for the Focusing on Our Future administrative and academic reviews were shared with the committee. Preliminary administrative recommendations from the VPs will be released on August 30. The Provost's office will be managing the academic process.
Cavanaugh shared key budget terms and primary budget components. A general overview of the FY 14 budget was presented:
- Approved unrestricted budget
- Approved incremental adjustments
- Tuition and fees
- Undergraduate tuition and mandatory fee peer comparison
- Room and board rate peer comparison
- Dental education cost peer comparison
- Law school tuition comparison
Clarification on the peer group construction was given.
Budget Task Force (BTF) Update
The BTF will release a final report in September 2013 and will propose an alternative budget allocation model that incentivizes units for their contributions toward the academic and fiscal priorities of the University.
Agenda items for a future meeting
- Report from the BTF to the IPC
- IPC's engagement in strategic planning allocations
- Update on the current budget situation
- Preview of revenue (after September 10)
The next meeting IPC meeting is Tuesday, September 10 from 3pm-5pm. The agenda will include a review of the McGeorge budget. Minutes from last year's IPC cycle (April 23, 2013) were approved.