May 3, 2018: Spring 2018 Board of Trustees Meeting Summary
On Friday, we concluded our spring Board of Trustees meeting. You will find below a brief summary of the business that took place. I'd like to begin by acknowledging our 23 faculty colleagues whom we celebrated during Thursday's Faculty Recognition Dinner for either receiving tenure or earning the rank of full professor — and, in two cases, both at the same time. As Provost Barbara Altmann mentioned during the event, we have seen an increase in the number of faculty promoted to full professor in each of the past five years, which is a remarkable display of our commitment to teaching, scholarship and our students. I extend both my congratulations and my gratitude for the dedication and passion that helped carry you to this impressive milestone.
It was also a great pleasure to pay tribute to 10 of our faculty colleagues who are retiring from Bucknell. Through their many contributions and tireless efforts, each has made Bucknell a better institution in myriad ways.
This was a particularly special event because it afforded us the opportunity to publicly thank Ken Freeman '72, who will soon complete his 17th and final year as a member of the board, and ninth as Board chair. Through his incredible commitment of time, energy and philanthropy, Ken has positively impacted this University in ways few others have throughout the institution's 172-year history. It was a true pleasure to be able to bestow upon Ken the Stephen W. Taylor Medal, the University's highest honor. Named after Bucknell's first president, the award was established in 1972 and is given to individuals who render extraordinary service to the University. Ken will officially conclude his time on the Board on June 30. On behalf of Bucknellians everywhere, I extend my deepest gratitude to Ken for his immeasurable contributions.
With Ken's time as Board chair coming to a close, I am pleased to announce that the Board of Trustees unanimously voted to elect trustee Chris O'Brien '80, P'18, P'20 as its next chair, effective July 1. Since joining the Board in 2012, Chris has displayed a special combination of leadership, dedication and enthusiasm from which Bucknell has already greatly benefited. His insight and guidance have been invaluable, and I am excited to work with him in this new capacity as we continue to build upon Bucknell's institutional strengths and distinctiveness. Joining Chris as officers on the Board by unanimous vote are Steve Kohn '81, secretary; and Harriet Edelman '77, P'14 and Steve Holmes '79, P'06, P'08, vice chairs.
July 1 will also mark the beginning of terms for four new trustees. My thanks to Bob Chrencik '73, Laureen Costa '90, Garry Thaniel '04 and David West '85 for volunteering in this important and meaningful capacity. I'd also like to thank current trustees Jane Elfers '83, P'19, Susan Ginkel '76, Larry Klock '69 and Chris Sullivan '92, each of whom were re-elected to new five-year terms. The Board also voted to elect to emeritus status Alan Walker '66, P'97, P'00, who served on the Board for 37 years before stepping down in June 2017. Finally, David Scadden '75, H'08, P'11 will conclude his time on the Board effective June 30 due to time constraints imposed by his other professional obligations. Bucknell has benefited greatly from David's contributions as a trustee and steward of the University, and I thank him for his 10 years of service as a member of our Board. As an English major at Bucknell who went on to become one of the foremost stem-cell researchers in the world, David exemplifies the rich traditions and possibilities of a Bucknell education.
Among the most significant pieces of regular business addressed each year during our spring meeting is the adoption of the University's budget. The Board approved the fiscal year 2018-19 budget, which includes the administration's recommendation for a 3 percent increase to the compensation pool for staff and a 3.25 percent increase to the compensation pool for faculty. As in years past, a percentage of those pools will be reserved for promotional or market-driven adjustments. As previously communicated, merit salary increases will take effect July 1. It is worth noting here that the FY 2018-19 budget was the most difficult to balance in recent memory, in large part due to higher than expected health care and financial aid costs. We were able to balance the budget only through a number of areas across the University reducing operating, capital and/or personnel expenses. Individually and collectively, we must remain committed to staying within the approved University budget throughout the year, exercising fiscal restraint in our work while continuing to make strategic investments that strengthen the institution for our students.
One such investment is the construction of Academic East, which you have no doubt noticed is underway. As I shared with you in the fall, this new facility will enable us to renovate the Olin Science Building, which will significantly enhance the spaces occupied by our colleagues in mathematics and physics. At the request of those departments, we have deferred that work until the summers of 2020 and 2021, which will allow adequate time for planning and design of those spaces. The Board also approved the expenditure of $2.3 million to renovate the Breakiron and Dana Engineering Buildings. That work is expected to begin in May 2019 and will conclude by August 2019.
We also continue to move forward with plans for a new facility that will house both the Freeman College of Management and our Department of Art & Art History. Collocating these programs not only affords us a way to address the aging and inadequate facilities that both programs currently occupy, but, as I stated last spring, it also offers the potential to strengthen connections between the programs and provide Bucknell with another point of distinction. At this most recent meeting, the Board approved spending up to $2 million on the creation of construction documents for the building, which is the final phase prior to approving construction itself. Breaking ground on the facility remains contingent upon adequate fundraising.
Much of the discussion during the meeting took place in executive session, as the trustees continue to focus on issues of board governance and improving the Board's own processes. We discussed briefly our collective efforts on campus around strategic planning, a conversation which included an update on the open forums we held, as well as our continued work to pave the path forward. Allow me to take this opportunity to remind you, the Bucknell community, to offer your initial input into the planning process through the survey I shared with you in an email on April 13.
I would like to close on a personal note. As Ken Freeman shared with the campus community last week, the Board saw fit to extend my contract through June 2025. I am incredibly grateful and honored to continue serving the University in this capacity. I deeply cherish my interactions with you and our students. The work that you do in service of our students, and your commitment to Bucknell and to each other, is inspiring and energizing, and I have never been more optimistic about the University's future than I am today. We are far from perfect; there is a lot of work ahead of us — work to create a more diverse and inclusive Bucknell, a sustainable Bucknell, a better Bucknell. But I know in my heart that, together, we can and will achieve great things. Thank you for your partnership in our quest to build a stronger institution of higher learning; the future is indeed bright.
My best,
John