June 2013 Board of Visitors Summary
News
James Madison University
Board of Visitors Meeting
June 6 – 7, 2013
The James Madison University Board of Visitors met Thursday and Friday, June 6 – 7, 2013, at the Kingsmill Resort in Williamsburg, Va.
The following is a summary of key areas of discussion at the board meeting:
- Participated in a discussion of the university’s strategic planning process led by Dr. Brian Charette, associate vice president of University Planning and Analysis and Dr. Mark Warner, senior vice president for Student Affairs and University Planning;
- Reviewed the university’s master plan;
- Received a presentation on campaign readiness led by Mr. Nick Langridge, vice president of University Advancement.
The following is a summary of actions taken by the board:
- Approved the minutes of the April 5, 2013, Board of Visitors meeting;
- Elected board officers for the 2013 – 2014 term. Mr. Joseph Funkhouser has been reelected to serve as rector and Ms. Lois Forbes has been reelected will serve as the board’s vice-rector. Ms. Donna Harper, vice president for Access and Enrollment Management, will serve as secretary.
- Approved the 2013 – 2014 budget presented by Mr. Charles King, senior vice president of Finance and Administration:
|
2012-2013 |
2013-2014 |
$ Change |
% Change |
|
|
Education & General |
243.5 |
257.9 |
14.4 |
5.9% |
|
Auxiliary Enterprises |
162.7 |
169.9 |
7.2 |
4.4% |
|
Financial Aid |
11.1 |
12.1 |
1.0 |
9.0% |
|
Sponsored Programs |
36.9 |
36.9 |
-- |
0.0% |
|
Total Operating* |
$454.2 |
$476.8 |
$22.6 |
5.0% |
*Excludes ETF
- Approved differential tuition for the College of Business beginning in the fall of 2014;
- Approved the following real estate purchases:
- 1166 Harrison Street at a purchase price of $410,000
- 116 Port Republic Road at a purchase price of $275,000
- 209 Port Republic Road at a purchase price of $202,500
- 605 Locust Hill Drive at a purchase price of $238,000
- 701 Locust Hill Drive at a purchase price of $237,700
