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Spacer Trustees OK furlough policy, building and finance plans

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Meeting in open session, the BGSU Board of Trustees took action on four items at its annual retreat Aug. 13.

The trustees approved a policy on employee furloughs as a cost-saving measure. Under the provisions of the Ohio biennial budget, or House Bill 1, boards of trustees of higher education institutions may adopt a policy “providing for mandatory furloughs of employees, including faculty, to achieve spending reductions necessitated by institutional budget deficits.”

Following the board’s action, a furlough program was announced and will begin this fall, as outlined in a letter to the University from President Carol Cartwright. The mandatory, unpaid furloughs during this fiscal year will apply to all full-time, 12-month staff, faculty administrators and library faculty who will earn $50,000 or more in base salary as of Aug. 24. The policy is expected to affect about 500 employees.

The board also approved the University’s new, long-term Residence Hall and Dining Services Master Plan, which will significantly update main-campus facilities. The plan was presented at the June 26 trustees meeting.
(See www.bgsu.edu/offices/mc/monitor/06-29-09/page67618.html.)

Also getting board authorization was the issuance of general receipts bonds and the refinancing of outstanding obligations, for a total of about $80 million. From time to time, the University has issued long-term debt obligations to fund a variety of important capital projects.

Series 2010 bonds will be issued to fund the soon-to-be-built Stroh Center, residence hall renovations and demolitions, energy efficiency improvements called for under House Bill 251 and the next phase of roof replacements, in addition to paying off an amount owed through short-term borrowing.

In addition, the trustees ratified the appointment of Dr. Kenneth W. Borland as senior vice president for academic affairs and provost. Borland began his duties Aug. 15.

The next regular meeting of the trustees will be Oct. 2.


 
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August 17, 2009

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