Reports
and Curriculum Proposals, 2007-08
FACULTY REPRESENTATIVE’S REPORT
ON BOARD OF TRUSTEES’ MEETING
February 9, 2008
(1) Investment advisors explained LU’s Commonfund performance (return) during
the FY 2007:
- endowment was $25,473,807 as of 12/31/07
- compared to $23,099,000 as of 12/31/06
(2) Board meeting was opened at 9:15 AM
(3) Minutes of 11/17/07 were approved
(4) BOT Chair’s Report: G.Miller ’77 (Vice Chair) filled in for Chairman Morris.
He noted that BOT commitment was absolutely essential if the Board was to be
a vibrant, effective agent charged with the task of administrative oversight; Vice
Chair Miller expected Trustees to honor that commitment
(5) President’s Report:
(a) Student recognition: Mr. D. Benjamin, Ms. O. Washington, 41 LU
students and staff who assisted residents of 9th ward in NO, LA
(BOT passed resolution honoring these students)
(b) LU Marching Band and Director Prof. Johnson presented/modeled
uniforms that are worn at games and competitions
(c) Operating and capital budget preparations (FY 2009) are underway;
President Nelson will present LU request to PA legislature later this month
(d) Middle States Self Study is in its final process; it will be mailed to
Visiting Team in a few weeks; academic departmental binders are
the sources of evidence that validate the Self Study Report ; Team will
be on campus April 13-16, 2008
(e) A campus-wide Emergency Notification System is currently being
field tested this semester
(f) Facility renovations are underway in the LH Library; University Hall,
Ware Center, and the Graduate Center are virtually complete
(g) Efforts are underway to maximize LU’c connection to Melvin Tolson ‘23
(Commencement speakers, ICAA-sponsored debate competitions, and
an article in “Diverse Issues in Higher Education”)
(6) Treasurer’s Report: as of 12/31/2007, LU had $10 million in cash,
$0.00 borrowed against its $2 million line-of-credit, and an endowment
exceeding $25 million.
(7) Action Items/Resolutions:
(a) BOT approved the CPA firm of Thompson, Cobb, & Bazilio to
serve as outside auditors of LU finances for FY 2008
(b) BOT approved motion to spend 2.5% of endowment funds annually (this figure represents a decrease of .5% from last year)
(c) BOT approved an Intercollegiate Athletics’ Mission & Philosophy
statement as well as the duties of the Faculty Athletics Representative
(8) Brief Reports of Committees:
(a) Trustee W. Colbert will end his BOT service this semester; Board honored
him for his 8 years of service (2000-08)
(b)Buildings and Grounds: Trustee D. Taylor updated Board about selected
facilities that are on the list for renovation, e.g., Cresson Hall
(c) Degrees/Nominations Committee: to date, 7 names had been received
for honorary degrees; names and rationales should be submitted to Vice
Chair G. Miller; Committee had discussed possibility of securing honorees
one or two years in advance; Committee will meet with Faculty
counterpart later this month
(9) Adjournment
James L. DeBoy
February 10, 2008
