University finances to be delivered in special Board of Trustees session
A special Board of Trustees session will be held Thursday, where the board will receive the university's 2014-2015 financial audit report.
Plante Moran auditor Vicki VanDenBerg delivered an initial report on the university's finances at the September Board of Trustees meeting. President George Ross announced the special session would be held at 9:30 a.m. in the President's Conference Room in the Bovee University Center.
"Our independent audit firm presented the financials in September, but also reported that the university's finances reflected a $93 million unfunded pension liability in accordance with Governmental Accounting Standards Board Statement 68. We were awaiting a letter from the Michigan Office of Retirement Services confirming that amount," Ross said.
Ross also announced that he would be attending the annual American Association of State Colleges and Universities meeting from October 25 to 27. Ross is scheduled to attend the Council of State Representatives as the Michigan representative to discuss the proposed 2016 Public Policy Agenda.
The public policy agenda addresses issues surrounding the reauthorization of the Higher Education Act, which is currently being debated in Congress. The 2016 policy agenda adds a few new provisions to the previous public policy agenda and provides for recent policy developments such as the new Postsecondary Institutional Rating System, campus sexual assault legislation and revised regulations for teacher preparation and gainful employment.
Academic Senate members approved a motion to amend the senate constitution to create seven additional fixed-term faculty seats. Seventy-nine percent of the senators voted in favor of the motion, which will go into effect in January, pending approval from Ross and the Board of Trustees at their December meeting.
Provost Michael Gealt updated senators on several position searches and changes:
- College of Medicine Senior Associate Dean of Academic Affairs: Three finalists were brought to campus. Gealt said he anticipates the search committee will have their recommendations to the dean soon.
- Dean of the College of Health Professions: The position has been posted by Parker Executive Search Firm and CMU.
- Deputy Chief Information Officer: CMU has hired Angelica Gomez, formerly CIO of the Regis HR group in Miami, Florida.
- Chief Information Security Officer: Finalist interviews were concluded on October 16.