Acknowledging unprecedented circumstances and in its first-ever online meeting, the Marshall University Board of Governors met today and received an update on the university’s operations during the COVID-19 pandemic, and approved a new degree program and student fee schedule, but tabled action on the university’s budget because of fluid financial conditions.
“It is amazing to me, and really nearly miraculous, that our faculty, staff and students have been able to adjust from face-to-face instruction to online classes in such a short period of time,” said James R. Bailes, board chairman. “I want to commend President Jerry Gilbert, his administration and our faculty for their tireless efforts to ensure our students’ needs are met during this extraordinary time.”
In financial matters related to the pandemic, the board tabled discussion of the university’s 2020-21 budget because of uncertainty regarding fall enrollment, financial markets and other factors. Tuition will remain unchanged for the new academic year, but the student fee schedule, including nominal increases, was approved.
Additionally, the board authorized up to $4.5 million in university funds to be used this week for emergency financial assistance grants to students to help compensate them for disruption to university services during the pandemic. The grants will pay students for unused room and board plans, and parking and Recreation Center fees. Federal stimulus funds will be used to reimburse the university when Marshall receives the money from the U.S. Department of Education in May.
In his report to the board, Marshall President Jerome A. Gilbert said that while the university is operating in a forward-looking manner, he has asked a university budget committee to find ways to deal with projected reductions in funding due largely to uncertainty created by the pandemic.
“Our core operating budget is heavily dependent on tuition revenue, and lower enrollment means less money, it’s as simple as that,” Gilbert said. “Most higher education surveys are predicting a nationwide reduction of 10-15% of incoming freshmen for next year and we must address that probability. Students and their families seem to be very much on the fence about whether they want to be on campus next fall with so many unknowns. While we are in one of the strongest financial positions of any public higher education institution in West Virginia, we must prepare for the worst, and hope for the best. Marshall has been through tough times before and persevered. I am committed to keeping our institution strong.”
Gilbert also announced at the meeting that he and Provost and Senior Vice President for Academic Affairs Jaime R. Taylor, who are the two highest-paid administrators at the university, will take temporary, voluntary pay cuts of 15% and 10%, respectively, in a show of good faith as the university moves forward with cost-saving measures he said will affect everyone at the university. Gilbert’s base salary, currently $470,000, will be reduced to $399,500 on June 1. Taylor’s base salary of $262,444 will change to $236,200. The reductions will be in effect for up to one year.
The board also approved a capital project program statement for aviation buildings and a 30-year lease agreement with Yeager Airport. The lease agreement involves construction of a classroom building, hangars and parking at the airport for Marshall’s new flight school. The airport’s board approved the tentative agreement yesterday.
Other board action included the following:
- Approval of a new Bachelor of Science in Civil Engineering. Until now, the university has offered an engineering degree with an emphasis on civil engineering. Officials believe the change will help with marketing of the program;
- Recommended continuation of 21 academic degrees following a review process;
- Approval of a new curriculum for the Joan C. Edwards School of Medicine, which features more weight on the clinical years. Medical School Dean Joseph I. Shapiro said the change is in line with curricula at medical schools across the country. The change, which also includes a small increase in the fee schedule, will begin with the class of 2023; and
- Approval of an investment earnings update.
Additionally, the board accepted a financial report detailing the refinancing of bonds, which will save the university a million dollars annually in bond payments and will provide $27 million in extra funding for capital projects, including a new building to house the Lewis College of Business.