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Posted: September 27, 2002
Terms of Reference
Approved
for New Fundraising Council
Audited statements confirm government grants
represent less than half of operating revenue
FROM THE BOARD OF GOVERNORS’ MEETING
– SEPTEMBER 27, 2002:
Build 2000 Update
The Board of Governors received two reports on the University’s
Build 2000 capital program. The reports provided the following updates
on the Science Facility and Integrated College projects:
Science Facility
• Site clearing is 100 per cent complete
• Site services installation is 90 per cent complete
• Building excavation is 88 per cent complete
• Concrete and formwork is 25 per cent complete
Integrated College
• Site clearing is 100 per cent complete
• Rock excavation work is 50 per cent complete
• Concrete, formwork, and rebar trades tenders have been awarded
• Site servicing tenders have been issued
• Foundations are being poured during the next six to eight weeks
Board Objectives
The Board of Governors approved special initiatives that it will pursue
in 2002-03 to further its objectives to: support institutional renewal
and vitality, financial stability, fundraising, high quality governance
and institutional leadership. These initiatives form an important element
of the open accountability of the Board and will be used as benchmarks
to measure its own performance this year.
President’s Report
The President provided the Board with an outline of key issues that will
shape the coming year including Human Resources/Personnel, Physical Plant,
Programs-Academic, Planning and Financial. She also reviewed the latest
enrollment figures, course registrations and planning issues related to
the double cohort.
New Fundraising Council
The Board created a new fundraising council that will bring together members
of the Board and friends of the University to raise money for immediate
University priorities. The first target is $3.6 million to be raised by
June, 2004. The first Chair of the Council is Trent alum Dan Coholan who
graduated from Trent University in 1980. Dan is currently a Managing Director,
Corporate Finance, Communications and Media Group, RBC Dominion Securities
Inc.
Financial
Statements
Draft consolidated financial statements were approved. The statements
note that the major expenditure in the budget continues to be in salaries
and benefits that represent 85.1 per cent of operating expenditures before
appropriations. The statements confirm that the budget was balanced for
the second year in a row despite the fact that government grants represent
less than half (49.3 per cent) of operating revenue and that tuition accounts
for 45.8 per cent.
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