Trustees Continue to Consider Budget
Board authorizes sale of bonds, votes on re-election of members
At its April 4 and 5 meeting in Hanover, the Board of Trustees acted to authorize the sale of tax-exempt bonds for facilities, voted on re-election of members whose terms were expiring, authorized construction of a new loading dock for Spaulding Auditorium, and approved the College's Affirmative Action Plan.
These actions followed a very active start to 2009. In March, the Board announced the appointment of Dr. Jim Yong Kim as Dartmouth's 17th president, who succeeds President James Wright on July 1. In February, the Board endorsed the administration's plan to reconcile the budget by decreasing the institution-wide operating budget of $700 million by $72 million between now and fiscal year 2011.
At the April meeting, the Board continued to consider Dartmouth's budget, with a focus on Dartmouth Medical School (DMS), which is developing its own strategic plan. The Board endorsed a preliminary financial plan for DMS, which calls for an 11 percent decrease in the medical school's $230 million budget by $25 million between now and 2011 (as part of the institution-wide target).
The Board also received presentations on the status of the $1.3 billion Campaign for the Dartmouth Experience, and on the arts at Dartmouth and how the proposed Visual Arts Center would enhance academic and student life.
The Board took action to:
- Authorize the sale of $165 million in tax-exempt bonds to support facilities projects, including the construction of the Class of 1978 Life Sciences Center (LSC), which began in September 2008, and the renovation of the New Hampshire residence hall, which re-opened last month. The LSC, also supported by gifts, represents a $93 million investment in facilities devoted to teaching and research, including classrooms, teaching and faculty laboratories, an auditorium, and offices. It is scheduled to open in fall 2011.
- Approve the re-election of trustees who have completed their first terms. Informed by its standards for trustee service and the customary evaluation process, the Board elected six trustees to serve second terms: John J. Donahoe '82, R. Bradford Evans '64, Board Chair Charles E. Haldeman '70, Albert G. Mulley '70, Peter M. Robinson '79, and Thurman J. Rodgers '70. A seventh trustee, Todd J. Zywicki '88, was not re-elected.
- Authorize construction of a new loading dock for the Hopkins Center. This project is necessary if the Lebanon Street site is to be developed for other uses, including the proposed Visual Arts Center, which remains under review.
- Institute a new student service fee for fiscal year 2010 at DMS. With the new service fee, DMS tuition ($42,525) and fees combined will increase 8.9 percent for FY 2010 (students may qualify for additional financial aid).
- Approve the College's 2009 Affirmative Action Plan. The Office of Institutional Diversity & Equity's yearly plan is a management tool that includes an analysis of the racial and gender composition of the institution's workforce compared with the labor pool from which Dartmouth draws its applicants. The plan also documents the College's efforts to remain in compliance with laws and regulations. As of Nov.1, 2008, Dartmouth's tenured, tenure-track, and voting faculty across its four schools totaled 1,229, of which 34 percent were women and 10.7 percent were minorities.