Saint Mary's Magazine Spring 2004 - Saint Mary's University of ...

NEWS CAMPUS AND VIEWS NEWS
2003-2004 are: LeAnn Dahle,
Morristown, Minn.; Trent
Robertson, Austin, Minn.; and
Pamela (Cox ’84) Bagniewski,
Rochester, Minn.
Both programs are endowed by
Mary Ann and Jack Remick of
Rochester. Throughout their lives,
as students in Catholic educational
systems at all levels, and as parents
of five children who have benefited
from Catholic education, the
Remicks have been moved to
support the future of Catholic
education.
“We want to make a positive
difference in the future of the
Catholic school system,” Jack
Remick said, “Our goal in
establishing the Remick Fellows
Program is to provide a vehicle to
continue the excellence of teaching
in the Catholic schools — by
providing new teachers and
encouraging those already working
in our Catholic schools.”
SMU receives grant
to host visiting
Muslim scholar
Saint Mary’s was honored to host a
Fulbright visiting scholar this spring
thanks to a grant from Fulbright’s
Direct Access to the Muslim World
program, administered by the
Council for International Exchange
of Scholars.
The purpose of the program is
to enrich understanding and
knowledge of Islamic, Middle
Eastern and South Asian societies
and cultures, and grants were
specifically targeted to liberal arts
colleges with limited or no current
programs on the Muslim world.
Dr. Mohamed Mostafa,
associate professor of political
science, Cairo University in Egypt,
was on campus March 4-19. He
was a guest lecturer in several
classes and presented on the
following topics: the relationship
between Islam and democracy;
women in Islam; politics in Islam;
peace; and the relationship of the
Muslim nation with the U.S. He also
made a public presentation to the
Winona-area community.
Moody’s upgrade
is sign of strength
Moody’s Investors Service, an
international investment rating
organization, has completed an
extensive examination of
Saint Mary’s University of Minnesota
— and upgraded its bond rating.
Moody’s now rates Saint Mary’s
as “Baa1,” up one level from “Baa2.”
Moody’s report on Saint Mary’s
finances and overall outlook
highlighted its strong operating
performance, both now and into the
future.
The upgrade “was most
welcome and a significant objective
endorsement of Saint Mary’s
University,” according to Brother
Louis DeThomasis, president.
“The university is on solid
financial ground and is a good
investment,” Brother Louis said. “The
Moody’s rating shows their
confidence in our soundness and
viability.”
Brother Louis said “what is so
heartening is that we, like all higher
education institutions, are financially
challenged by the economy and tight
budgets at the state and federal
levels. In these more difficult times,”
Brother Louis added, “the decisions
we made in the past are being
rewarded by our current financial
strength.”
An upgraded bond rating means
the university can issue bonds
through the Minnesota Higher
Education Facilities Authority
(MHEFA) at a reduced interest rate,
resulting in potential savings of
hundreds of thousands of dollars.
On behalf of Saint Mary’s
University, MHEFA will issue $11
million in Revenue Bonds Series
Five-U. The bonds will refund prior
bonds issued at a higher interest rate
that were used to pay for past
building projects and campus
renovations.
The reasons cited by Moody’s
for the bond rating upgrade include:
■ ongoing positive operating margins,
driven by stable enrollment in the
university’s core program offerings
and revenues from non-traditional
educational endeavors;
■ healthy debt coverage by financial
resources, resulting from modest
leverage, adequate financial
reserves, and healthy gift revenues;
■
A total of 487 people
participated in the 16th
Fall Frolic Run/Walk Oct. 4
at Saint Mary’s University.
Family Weekend full of fun events
Family Weekend, held in October, was action-packed. Events included a
hall vs. hall tug-of-war, the 16th annual Fall Frolic Fun Run/Walk, a parent
golf outing, and musical and theatrical performances (including the play,
“The House of Bernarda Alba;” Jazz Ensemble Combos; and a Concert
Choir, Chamber Singers and Concert Band performance). At a community
reception, students had the opportunity to introduce their families to the
professors. Attendees were asked to join Brother President Louis
DeThomasis and talk about life at Saint Mary’s. And, to round out the
weekend, a comedian/magician performed on campus, and students ran,
jousted and bounced around in inflatable games.
continued strong management,
which should allow for a smooth
transition between presidents in
2005.
Moody’s also reported that Saint
Mary’s has no deferred maintenance
expenses, and noted that a healthy,
entrepreneurial attitude permeates
the culture of the university.≠
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