LANCASTER, Ohio (Dec. 6, 2003) -- The Ohio University Board of Trustees amended its bylaws for greater continuity and received the treasurer's audited financial statements during its regular meeting Dec. 5 at the Ohio University Lancaster Campus.
"These are challenging times for higher education and the issues facing colleges and universities are becoming more complex," Board Chairman Robert Walter said. "It is our belief that greater continuity in the leadership of the board can position Ohio University to more effectively and more proactively address challenges and opportunities alike."
The board amended its bylaws to, among other things, allow the chairman and vice chairman of the board to be re-elected to one-year terms of up to three years. It had been practice, but not policy, of the board for the chairmanship to rotate among the members every year.
The board reviewed and accepted the financial statements of the treasurer and audited financial statements for Fiscal Year 2002-03, which ended June 30, 2003. Representatives of the accounting firm of Deloitte & Touche, which conducted the audit, made the presentation.
The board adopted a resolution to re-issue $8.15 million in bonds to provide funding for the Enterprise Project, which improves efficiency and accuracy in university accounting and involved the adaptation of Oracle administrative applications and a campus-wide document management system New data management technology is being applied to streamline the university's business processes.
Ohio University President Robert Glidden also updated the board on the recent disturbances taking place in Athens on Halloween weekend.
In an effort to explore the dynamics of the off-campus incidents of Nov. 1, 2003, Glidden reported that an institutional task force has been proposed to work closely with city officials and discuss initiatives to end such difficulties. The board recognized the need for close cooperation between the city and the university endorsing the use of all appropriate resources to quell future disturbances during Halloween and during certain occasions in the spring when large groups of students often gather as well.
The board also received a report on university measures to meet the demands of the upcoming budget process during which Ohio University must identify a combination of revenue enhancements and expenditure reductions totaling $6.35 million for FY05. President Glidden outlined the role of committees formed to study such topics as enrollment management, compensation, revenue enhancement and potential redundancies within the university. The board expressed its interest in providing greater counsel and consultation during the budget process and to become more closely involved in assisting the institution in developing effective approaches to fiscal challenges.
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