Virginia Tech’s financial future and growth plans were high on the agenda as the university’s Board of Visitors met Sunday and Monday.
Some of the weekend’s most heated discussions involved Tech’s relationship with Virginia government and the funding that the university receives. President Charles Steger, speaking at Monday’s full board meeting, said he didn’t expect the state to provide any substantial increase in funding.
“There’s simply not going to be enough for all of us to do all the things we have to do,” Steger said. “We’re going to have to become more financially independent and entrepreneurial to grow our resource base.”
Figures reported at the meeting stated the university will lose $75 million in state funding by the 2011-12 school year compared to 2007-08.
“This year, we will get more money from out-of-state students than we will from the general assembly,” Steger said Sunday.
Also of concern during the weekend’s meetings was the possibility of adjusting Tech’s financial reporting to fit into a new commonwealth accounting system, which was presented as an unfunded mandate with little benefit for Tech.
“They signed a contract, they didn’t consult with us. We spent $30 million fixing the Y2K program, and they signed on to another system,” Steger said. “Now they want us to shift all together. That’s nonsense ... we’re not going to do it. We can’t afford to do it.”
The board also approved more than $100 million in debt financing, including $53 million for creation of the Performing Arts Center, more than $45 million for the Academic and Student Programs Building, and $750,000 to pave the Upper Chicken Hill parking lot.
The board granted Tech the ability to create a health science division, which would work with Tech and Carilion Clinic. The board also discussed expansion plans for India and China.
Sherwood Wilson, vice president for administrative services, was appointed to serve as Tech’s representative to the Regional 911 Emergency Communications Authority.
The board made permanent the standing research committee, and approved the formation of the Virginia Tech Technology Services and Operations Corporation.
Tech football worked its way into the discussion, when rumors of all-black jerseys for Tech’s Sept. 6 game versus Boise State University fell into the conversation of Monday’s finance and audit committee meeting.
“If there’s anything good it’s that Nike gives us these uniforms,” Steger said.
The weekend meetings were the first for appointed board members John G. Rocovich Jr., who returned after serving on the board from 1997-2005, William Holtzman, Suzanne Obenshain and Michael Quillen.
The four appointees replaced Ben Davenport, John Lawson, James Smith and Lori Wagner. Davenport and Lawson had each served as rector during their tenure on the board.
Also present for their first meetings were undergraduate representative Shane McCarty and graduate representative Deepu George. McCarty used his constituent report to highlight engagement, inclusion and educational quality, while George focused on collaborative learning and increases to graduate fees.
Mike Ellerbrock appeared for the first time as faculty representative, and Maxine Lyons debuted as staff representative.
William Lewis, newly appointed vice president of diversity, was also introduced during the meeting. Calvin Donnell Jamison Sr. suggested the board recognize Charlie Yates, Tech’s first African-American graduate who passed away Aug. 12, but the resolution was tabled for the next meeting.
The next BOV meeting is scheduled for Nov. 7-8.