Board of Trustees notebook: CMU faces $100 million in unfunded retirement liability; Ross says CMU on right track
Central Michigan University is facing another significant budget crisis, this time relating to unfunded pension liability.
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Central Michigan University is facing another significant budget crisis, this time relating to unfunded pension liability.
Vice President of Finance and Administrative Services David Burdette will retire at the end of this month, but University President George Ross said he is not sure if a replacement will be in place by Oct. 1.
Vice President of Enrollment and Student Services Steven Johnson has identified three major challenges on campus that, if addressed, might have a hand in upping Central Michigan University's appeal to prospective students.
Enrollment and the resultant budget deficit are paramount issues facing the Central Michigan University Board of Trustees as it prepares for its formal session tomorrow morning.
The new data center is finished, and almost all of the equipment has been moved to the new location.
According to numbers released by Central Michigan University, on-campus undergraduate enrollment is projected to drop 5 to 7 percent this year to between 17,300 and 17,800, even though 22,023 applications for on-campus fall enrollment have been submitted to the university as of Aug. 15.
Gov. Rick Snyder appointed Patricia Mooradian to the Central Michigan University Board of Trustees today, replacing Trustee Patricia Maryland, who has resigned.
The Central Michigan University Board of Trustees unanimously approved a $440.7 million operating budget for the 2013-14 fiscal year at Thursday's board meeting in the Bovee University Center.
The Central Michigan University Board of Trustees approved construction of a connector street that will connect East Campus Drive and Mission Street at Thursday's meeting.
The Central Michigan University Board of Trustees approved construction of Phase I of the College of Medicine's Saginaw facility on Thursday.
Action might finally happen on the proposed hotel to be built next to Kelly/Shorts Stadium.
The Board of Trustees was presented Wednesday with a draft of a capital plan that would, if approved, have the university spend $400 million over 10 years on 18 different projects.
A proposed $440.7-million budget for the 2014 fiscal year and formal approval of the College of Medicine East campus in Saginaw will be discussed Thursday when the Central Michigan Board of Trustees holds its quarterly meeting.
The Central Michigan University Board of Trustees approved the final $350,000 for the planning and design of Phase One of the College of Medicine’s Saginaw campus on Friday. With the additional funds, the project's to-date price of planning and design is $2.62 million with the total costs of the CMED East facility estimated at $46.5 million. University President George Ross said he was happy to get the final step of planning approved. “I didn’t say this to the board, but we have basically seated the first CMED class" he said. "May 15 was the deadline for students to decide, and we have seated our 64 students of that first class. They are going to be in Saginaw in 2015, so it feels good to get this done to make sure the facility is ready for them in 2015.” Though no formal announcement was made, Ross hopes to approve the start of construction by July’s board meeting. “We are moving forward. We have great partners in Saginaw with Covenant Healthcare and St. Mary’s Hospital," he said. "This is the final piece of the planning money, and we do plan to bring to this board a resolution for the approval of construction at the July meeting. We anticipate a big process this fall and maybe a shovel in the dirt by the end of the year." The 48,000-square-foot facility will be constructed on the grounds of Covenant Healthcare in Saginaw and will provide clinical completion for years three and four of the CMED curriculum. The facility will come at a cost of $25-million to the university. CMED East will also use land and facilities from St. Mary’s Hospital in Saginaw. With the planning for phase one nearly complete, Ross took some time to talk about the inaugural CMED class. “We had almost 2,800 applications and the classes test scores, and GPAs are way above the averages across the country," he said. "Between 80 and 90-percent of our students in our first class are Michigan students, and we are excited about this first class. They are basically Michigan residents, and that’s the model we wanted to educate Michigan doctors.”
The Central Michigan University Board of Trustees will meet Friday to vote for more planning and design funding for Phase 1 of the College of Medicine's Saginaw campus.
The Shared Governance and Communications Committee plans to create a standing committee, the first ever at Central Michigan University, charged with oversight of shared governance on campus.
The Central Michigan University Board of Trustees approved the construction of the $95.2 million biosciences building Thursday.
The Finance and Facilities Committee revealed plans Thursday to update Central Michigan University's campus master plan.
Undergraduate students will see a 2.47-percent tuition increase next fall, which translates to a $9 hike, bringing rates to $374 per credit hour.
The College of Medicine's East campus, the Central Michigan University Bookstore Global Campus Bookstore and shared governance were among a plethora of issues discussed during Thursday's board meeting.