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Board of Trustees Notes and Votes for January 10, 2017
At January 10, 2017 meeting the Board of Trustees:
- Welcomed the members of the Governance Council: Marilyn Fox, Dorothea Altgelt, Theresa Baker, Cherie Flandrick, Jamie York.
- Participated in a discussion regarding tuition setting, led by Andy Wyckoff-Judson, Treasurer. The Finance Committee has recommended a tuition increase of 5%, which they feel to be a moderate increase that will allow improved compensation for the Faculty, and preserve the program. Tuition increase decision passed by consensus vote.
- Participated in discussion regarding Tuition Assistance led by Jane Zeender. Last month the BOT mandated a task force to review our TA policy, with a focus on diversity and affordability. The task force recommends maintaining current TA policy for grades k-8, with a maximum of 30% in the KG. Maximum amount in HS extended to 60%. In the case of special circumstances requesting deviation from this policy, TA committee needs approval from both the GC and EC of the board. This recommendation was passed by consensus vote.
- Secondary to the TA policy decision, the Board passed the following resolution by consensus vote: In terms of maintaining appropriate controls, the TA Committee will provide both the Board and Finance Committee a monthly report of the % of TA and tuition remission as part of the gross tuition revenue.
- Received an update on the Annual Fund and plans for the Spring Benefit, “The Local” from Development Director, Kim Rector.
- Received Campus Development update from Michael Shaun Conaway.
- Michael Shaun Conaway and Marketing Director Mary Fairfield presented an overview of the brand roll-out and preview of the new marketing video.
- Approved November and December minutes by consensus vote.
- Received Finance Committee update from Andy Wyckoff-Judson, Treasurer. The bank requires approval from the board to make a change to our loan covenant. The referendum was reviewed, and this change was approved by consensus vote.