Board of Trustees discuss ways to boost revenue
By Noor Yussef–
The University of Louisville Board of Trustees met on Thursday in their first meeting of the spring semester.
There were a lot of issues on the agenda for Thursday’s meeting, ranging from a financial update from Vice President of Finance Michael Curtin to an update from the Executive Vice President and Provost, Dr. Shirley Willinghanz.
The Vice President for Finance reported that the university “remains in a strong position, with assets of $1.3 billion and net assets of $835 million.”
However, the number of student enrollment went down 100 students the fall of 2012 and 60 students in the spring semester, resulting in $2 million in tuition revenue losses to the university.
The vice president for financial services and the provost both associated the issue with financial problems such as tuition increase, financial holds and academic problems.
Financial concerns were partially offset by President Ramsey, who mentioned that he is scheduled to announce a $3 million gift to the university on Tuesday, Jan. 15 at 1 p.m.
Also on the agenda was a proposal for a course fee increase for the final step in the official eligibility to the School of Nursing traditional BSN program. Students taking N338 Lifespan Pathophysiology will experience a fee increase from $20 to $140, while those taking N395 Nursing Pharmacotherpeutics will see an increase from $20 to $120, which the board approved.
The School of Dentistry Application fee will also be increased from $15 to $65 “in order to provide additional resources to process the large volume of applications received, totaling 3,000 per year.” The cost will also be used to “help offset the increased cost of technology required to process applications electronically,” the Provost reported to the board.
The board also discussed the university’s “21st Century University” plan led by Provost Willinghanz, the aim of which is to “meet our 2020 goals and to better serve our students and the community for decades to come.”
The Provost will spearhead the process by addressing questions such as “A; what do we do well? B; what could we do better? C; how can we better serve our students, the Louisville community and the commonwealth?”
Among other things discussed at the meeting was to modify the existing lease agreement for the property located 315E. Broadway, the Norton Medical Pavillion, “to permit to sublease, at fair market value, to a developer for the purpose of constructing a medical office building,” according to the official minutes of the meeting.
They also approved Interim Dean Beth A. Boehm, professor of English, as the Dean of the School of Interdisciplinary and Graduate Studies.
Finally the board officially approved the 2013 Grawemeyer awards: Music, Michael Van der Aa; Improving World Order, Erica Chenoweth and Maria J. Stephan; Psychology, Dr. Irving Gottesman; Religion, Leila Ahmed; Education, Pasi Sahlberg.
The next Board of Trustees meeting is tentatively scheduled for Feb. 16.
Photo courtesy louisville.edu