BOT Notes and Votes | January 2017

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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.