Reformed Presbyterian Minutes of Synod 1997 - Rparchives.org

162 MINUTES OF THE 1997 SYNOD OF THE
New faculty appointments for the 1995-1996 year included: Dr.
as Librarian, Dr. John Stein as Associate Professor of Mathematics and Mr. Gary
VanderPlaats as Assistant Professor of Accounting. Tenure was granted to Dr.
Randall Bergen, Mr. Harvey Johnson, Dr. Carol Luce, Dr. David Shaw, and Dr.
Dean R. Smith.
Two faculty members are retiring at the end of the academic year. They are
Mrs. Betty Douglas in Humanities and Dr. Stanley Reyle in Mechanical Engineering.
Faculty searches are continuing in Business, Education, Engineering, Humanities,
and Psychology.
BUSINESS/DEVELOPMENT RELATED AREAS
The operating budget adopted for 1995-1996 showed general fund revenues
and general fund expenditures of $21,955,000. We expect to end the fiscal year
with a small surplus as well as to repay some of the past debt to the endowment
fund.
To help in the fulfillment of their financial responsibility the Administration and
Trustees asked Deloitte sc Touche, P.C. to condua a fiscal management review.
This report was quite extensive and included several recommendations which are
being implemented.
The College through CUTS is part of the United Response to New Era a joint
effort to recover some of the funds placed with New Era. We are continuing to
pursue maximized recovery with maximized peace among the creditors.
Campus physical improvements during the past year include new windows and
new classroom furniture in Old Main, new furniture in Clarke and Pearce Halls,
and new bleachers in Metheny Field House. Some new parking lots were built and
other areas were refurbished with new pavement and replacement lighting.
The administration is continuing to seek a means to make some major capital
improvements on the campus through both borrowing and fund raising. The
proposal includes such projects as: a new track, construaion of a new academic
building and purchase of a new apartment building for graduate student housing.
Progress on the Route 18 project is slow but is continuing. With the College
conducting the engineering and environmental work that progress may be sped up.
Work on the $20,000,000 Capital Campaign, "Keeping Faith with the Future"
has continued at a somewhat slower pace than originally anticipated, but is now
ready to begin its public phase.
The values of the College property and endowment fund are:
1994 1995
(Audit of 5/31/94) (Audit of 5/31/95)
Land $ 1,628,286 $ 1,633,286
Buildings * 7,233,920 7,250,360
Furniture and Equipment * 2,397.341 2,101,929
$11,259,547 $10,985,575