Stetson University’s Board of Trustees met Feb. 18-20 and took action on several key issues. They also discussed reports on the status of higher education from two national thought leaders.

Reports on the university’s financial status show Stetson has maintained a Moody’s A3 Stable rating, allowing $37 million in additional borrowing power. Also, Stetson received its first S&P rating of A- Stable, which is equivalent to Moody’s A3 rating, but significant because S&P is both harder on first-time ratings and usually very critical of the higher education market. This influx of funds, as well as gifts received for the Welcome and Student Success centers allows Stetson to initiate important projects this summer:

• Construction of a Student Success Center at duPont Ball Library
• Renovations and improvements to bathrooms, bedrooms and floors in portions of Emily, Gordis, Chaudoin and Conrad halls
• Replace air conditioning system that serves Lee Chapel and the second and third floors of Elizabeth Hall
• Improve air conditioning system in Davis Hall
• Construction of the West Side Parking Area, west of Allen Hall, Human Resources and Cummings Gym
• Construction of new parking area that will serve the Carlton Union Building, Conrad Hall, Sorority House 1, the Honors House and the Student Success Center (This is phase one of the renovation and expansion of the Carlton Union Building.)
• Relocation of the Print Shop to the Stepp Building
• Commence construction of the Marshall & Vera Lea Rinker Welcome Center which is planned to open in the summer of 2016.

In addition to borrowing new money for construction, the university purchased University Village Apartments from Collegiate Housing Foundation and refinanced all prior debt to eliminate restrictive covenants and create a 30-year level amount of repayment structure similar to a home mortgage. Trustees approved the engagement two auditors:  McGladrey for university financial statements and Moore Stephens Lovelace for defined contribution plans.

Presentations by two national figures in higher education helped frame Stetson as part of the national higher education landscape. Stetson Trustee John Walda, president and CEO of the National Association of College and University Business Officers, led a robust discussion on the financial stressors in higher education and a review of what might be coming down the road from the federal government.

John Lawlor, principal and founder of the Lawlor Group assisted by Carole Arwidson, vice president and director of market research, reviewed the landscape of higher education in America and the current market conditions affecting enrollment. They examined the value proposition of higher education and why it is under such close scrutiny, not only by the federal government, but also by parents and prospective students.

These presentations helped the board appreciate the stress that higher education is under nationally and informed their decision making as they guide Stetson forward.

Associate Vice President of Academic Affairs John Pearson, Professor Alicia Slater, and Vice Provost Lua Hancock presented a report on student learning outcomes. Pearson explained the relationship of program design and assessment within the context of the University’s current strategic map. Slater discussed the nationally normed Collegiate Learning Assessment that Stetson participated in last year, and reflected on the comparison of those results and our own assessments, particularly in relation to student learning of quantitative reasoning skills. Finally, Hancock presented information about graduate placement and performance. Stetson’s good work with learning assessments will be updated each year to describe recent developments, reflect on significant results and innovations in teaching, and learning that stems from this process.

In light of the departure of Vice President Chris Kandus Fisher, trustees heard of the reorganization in the Student Affairs area where Lua Hancock has assumed the title of Vice Provost. This realignment allows for better articulation between Student Affairs, Student Success and Academic Affairs. In this new position, Hancock has oversight of Public Safety, Campus Dining, Housing and Residential Life, Diversity and Inclusion, and the Dean of Students, who oversees Student Counseling, Student Health, Wellness and Recreation, and Student Development and Campus Vibrancy. In addition, Registrar, Academic Success, Career and Professional Development, and the Center for Community Engagement will report to Hancock.

Trustees approved a 3.9 percent tuition hike for undergraduates on the DeLand campus for the 2015-16 academic year. Tuition and fees are set at $41,590. Room and board charges are $6,874 and $5,070 respectively. Tuition at the College of Law increased by 3.5 percent.