Board of Trustees Highlights

Board of Trustees Highlights

The following is a brief snapshot of the regular meeting of the Rice University Board of Trustees,
Dec. 15 and 16.

Chair election
The trustees unanimously elected trustee James W. Crownover to become the next chairman of the board, effective July 1 when William Barnett retires. (See full story on Page 1).

Academic Affairs
Ann Wright, vice president for enrollment, presented a report on applications so far, and the trustees engaged in a discussion of Rice’s policy on loans as part of a financial-aid package. Provost Eugene Levy and Professor Ken Kennedy, chair of the Information Technology Advisory Committee, gave a preview of the need to replace the campus computer network, last done in 1993; the board authorized the chair to appoint an advisory group of trustees with technical knowledge to review the plans before the March board meeting. The board approved a resolution supporting continuing progress toward a Collaborative Research Center on Rice’s University and Main property.

Audit Committee
The committee discussed results of Rice’s external financial and A-133 audits for FY04, which were performed by PricewaterhouseCoopers (PwC). John Mattie, PwC’s national higher education and not-for-profit practice leader, briefed the board on financial, auditing and administrative issues currently facing universities. General Counsel Richard Zansitis gave his semiannual briefing on pending legal matters.

Buildings and Grounds
Richard Johnson was introduced in the newly created position of sustainability planner, in which role he will help develop good sustainability practices for the university, given factors that include the Houston climate. The board in March 2004 adopted a sustainability policy supported by students and faculty. (Read more about Johnson on page 3.) The board also heard reports on the Fondren Library renovation; a feasibility and pre-design study for a possible social sciences building; and progress on the program of the Lowery Arboretum.

Financial Affairs
The board approved funding of several new investment managers and updated policy ranges for asset allocation. Kathy Collins, associate vice president and budget director, gave an overview of FY06 budget planning, and the board approved the rate of increase in endowment distribution. The board also approved student charge rates, to be announced when a loan policy is finalized.

Resource Development and Public Affairs
Eric Johnson, vice president for resource development, gave the comparative gift report as of Nov. 30 and discussed plans to double annual fund giving to at least $8.2 million by the end of FY11. The board approved raising the minimum gifts for endowed scholarships from the $25,000 that has been in place since the early 1990s. The new minimums, which fall in the middle of those at peer institutions, are $50,000 for need-based undergraduate scholarships and $100,000 for all other undergraduate scholarships and graduate fellowships.

Recognition
The board recognized Chris Huston, head coach of the women’s soccer team, and Tom Littman, concert manager for the Shepherd School. In addition to rapid success on the field, Huston’s team has had notable success in the classroom, with 12 players, more than can be on the field at one time, making the 2003 conference all-academic team. Littman was honored for his nearly incalculable and successful behind-the-scenes work. The board also applauded Dean Currie, vice president for finance and administration, for his service; Currie is leaving Rice March 1 to take a similar position at California Institute of Technology.

Other
The board approved sabbaticals, other leaves of absence and faculty and administrative appointments and reappointments. The trustees also discussed work by an ad hoc committee on reducing the cost of university general funds support for athletics.