Collegiate Times

Finances and campus development were focal points as Virginia Tech’s Board of Visitors met Sunday and Monday.

The board reviewed the development of several projects, including the Signature Engineering Building along Prices Fork Road and a $7.31 million revised expansion of the West End Market dining hall. The board also approved a $2 million expansion of Tech’s fiber optic capabilities.

A joint session of the finance and audit committee and buildings and grounds committee was briefed on the debate over adding Blacksburg meal and lodging taxes to select on-campus purchases.

Despite the collaboration in charging local taxes at concessions stands at Lane Stadium and Cassell Coliseum, which brought in an estimated $96,000, the board said a similar action would not be possible on-campus. Those taxes are charged by outside vendors. Tech's dining halls are operated by the university.

The board noted that case law would not require Tech to pay the tax, and if it did enforce the tax, the funds generated could only be given to the state treasurer, not the town.

Vice President of Administrative Services Sherwood Wilson said that if Tech could implement the tax, the town would receive a payment of about “$39,000 and some change.”

“It’s a lot to do for a very limited amount of money,” Wilson said.

The board also approved a resolution requiring Hokie Stone to be used for all new buildings and expansion projects for academic or life sciences structures.

Sunday’s informational meeting focused primarily on Tech’s progress on its 2006-2012 development plans. While most areas were progressing on schedule, faculty pay was one struggling area for Tech.

Tech’s pay for faculty in 2010 fell in the 33rd percentile among peers selected by the State Council for Higher Education Virginia, short of its goal of the 53rd percentile. The ranking is a decline from the 35th percentile in 2009.

The board also noted struggles in both the value of Tech’s endowment and fundraising totals because of the weakened economy. Tech raised $81.8 million in fiscal year 2010, short of its goal of $91 million for the year but an improvement from $79.2 million for fiscal year 2009.

President Charles Steger said in the future he’d like to see Tech raise $100 million a year.

The board Monday also unanimously passed a resolution honoring Charles Yates, Tech’s first black graduate who passed away in August. Yates had also served as a professor in the engineering department and as a member of the board.

Tech held a celebration honoring Yates's life this past Friday afternoon.

The board had discussed making the resolution in August, but the resolution was pushed to Monday’s meeting.

Board member Calvin Jamison said Yates had “the perfect demeanor to be here at that time.”

“It’s important for the board to carry on the work he started,” Jamison said.

The board's next scheduled meeting is March 27-28.

A version of this article appeared in the Nov 9 issue of the Collegiate Times.