Published: November 15, 2020; Updated: November 15, 2020
By Dana Woodward, [email protected], 803-777-3691
The University of South Carolina Board of Trustees, as well as several board committees, met on Friday, November 13. Here’s what you need to know about the meeting.
Financial analysis reports strong university position
At this first meeting of the day, the Finance and Infrastructure Committee heard several reports detailing the university’s current financial situation, as well as forecasts and suggestions for the future. Mandy Kibler, Controller of the University, reviewed the comprehensive annual financial report, which revealed that the consistent growth in the institution’s financial position over the past five years has helped to withstand the impact of about $ 60 million from COVID-19.
The committee also received an overview of a report from partner university consultant EAB to identify potential cost savings and revenue generating opportunities that align with the objectives of the university’s strategic plan, including increasing the number of underrepresented students and our research capacity. The process of identifying cost-saving and revenue-generating opportunities includes UofSC faculty, staff and administrators.
Options include expanding online programs for nontraditional students, increasing high-demand degree programs and reducing administrative costs. The Board of Trustees was informed about the work, but no final decision was made.
Full board approvals
As part of a meeting called, the board approved a variety of proposals:
- General approval for athletics to negotiate charter flights for the men’s and women’s basketball games of the 2021 season
- Extension and extension of agreement between Student Health Services and Cepheid for diagnostic tests and equipment
- An extended contract with South Carolina Student Housing Lease Company, LLC for 700 beds in YOUnion for University Housing for use by incoming students
- Two naming opportunities, one at the College of Information and Communications and the other at the School of Medicine Columbia
- The transfer of a one-third acre piece of land on Columbia City’s Catawba Street
- The granting of temporary construction easements and a 50-year land easement to the city of Columbia for improvements to the sewer line
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Topics: University Leadership