Board of Visitors Meeting April 14, 2023

Present from the Board

Ms. Regina P. Brayboy
Lindsey Carney Smith, Esq., Rector
Robert R. Hatten, Esq.
Mr. Steven S. Kast
Mr. John R. Lawson, II
Ms. Terri M. McKnight, CPA, Vice Rector
Ms. Christy T. Morton, Secretary
Mr. C. Larry Pope
LTC (R) Boris G. Robinson
The Honorable Ronald L. Tillett
Dr. Lee Vreeland
Ms. Judy Ford Wason

Absent from the Board

Mr. Sean D. Miller

Remote Participant

Ms. Kelli Purdy Meadows, CPA, CCIFP
Remote participation permitted due to distance between member’s primary residence and meeting location pursuant to Code of Virginia § 2.2-3708.3(B)(3). Ms. Meadows participated from Richmond, Virginia.

Present from the University

Ms. Amie Dale, Liaison to the Board of Visitors
Dr. Rachel Holland, Faculty Senate President
Dr. Kevin Hughes, Vice President of Student Affairs
Dr. Quentin Kidd, Provost
Dr. Rob Lange, Dean of Admission
Ms. Jennifer Latour, Vice President for Finance and Planning and CFO
Ms. Christine Ledford, Vice President for Administration and Auxiliary Service
Ms. Maureen Matsen, Esq., University Counsel
Dr. Lisa Duncan Raines, Vice President for Enrollment and Student Success
Ms. Celine Rosario, Student Government Association President (2022-23)
Ms. Adelia Thompson, Interim President

Others in Attendance

Ms. Katie Bennett, Student Government Association President (2023-24)
Mr. Sean Conway, Student Presenter
Mr. Brian Eakes, Education Foundation President
Alex Noth, Captains Log

Call to Order and Welcome: Rector Lindsey Carney Smith

On April 14, 2023 at 12:25 p.m. Rector Carney Smith called the meeting to order and welcomed everyone present. She provided an introduction for the new board member, Mr. Tillett, and welcomed him back to service on the Board of Visitors. She then provided a special recognition for the National Championship Men’s Basketball team, Coach John Krikorian and concluded her opening by recognizing Dr. John White for winning the Gilder Lehman Lincoln Prize.

Approval of Minutes: Rector Lindsey Carney Smith

Rector Carney Smith called for a motion to approve the minutes of the Board of Visitors Regular Meeting on February 3, 2023. Ms. Wason provided the motion, which was seconded by Mr. Robinson and the minutes were approved by a unanimous vote of the Board.

Rector Carney Smith called for a motion from the board members who attended the Budget Presentation and Public Comment Session to approve the minutes of the Board of Visitors Budget Presentation and Public Comment Session on Proposed Tuition and Fee Ranges for 2023-24 Academic Year on March 16, 2023. Ms. Wason provided the motion, which was seconded by Mr. Pope and the minutes were approved by a unanimous vote of the members.

Education Foundation Report: Brian Eakes, President

Mr. Eakes greeted the board and gave a presentation about the Education Foundation detailing its composition, history and growth and its purpose, activities and impact. In terms of impact, he highlighted that the Foundation offered over 750 funded students scholarships this past year, funded several professorships and multiple special projects across the University that contributes to its excellence. In terms of portfolio performance, he highlighted that based on the most recent NACUBO survey, our portfolio exhibits exceptional average annual returns of over 10% for the 3 and 5 year periods and outperformed the median achieved by other endowments by over 3.5% for those same periods. He also noted that the Foundation ranks in the top half of all participants for the 1 year period, but more importantly top 25% for 3 year period and top 10% for the 5 and 10 year periods. He concluded his report by expressing the Foundation’s commitment to supporting Christopher Newport for generations to come.

The Rector thanked Mr. Eakes and called on Interim President Thompson to give the President’s Report.

President’s Report: Adelia Thompson, Interim President

Interim President Thompson opened her report noting that there are only two weeks of classes left and one month until Commencement. She continued with an admission update that we are working diligently toward the May 1 decision deadline and that we are on track to meet our numbers. She provided a brief spring sports update noting national rankings for lacrosse, softball, baseball, a great season start for track & field and honors for both Coach Bill Broderick & John Krikorian as Coaches of the Year.

In campus life, activity and events are abundant. Notable recent events include the Dinner for the Common Good, the Hampton Roads Social Justice Conference and the Global Followership Conference. Upcoming events at Torggler for its new exhibit, Ferguson has wonderful shows ahead and our performing arts students are filling stages with recitals and performances on and off-campus.

Working with Richmond leaders is ongoing, but we will have no definitive budget information from the state until late June.

She concluded her report by thanking the Board for their work this year on the presidential search, thoughtfully and deliberately setting tuition and fees and the upcoming work to approve a budget noting that they have consistently risen to the moment with strength, clarity and commitment.

The Rector thanked Interim President Thompson and called on Mr. Bruce Bronstein to give an update on the Public Perception Market Student by ADV. Mr. Bronstein reported that he has received some preliminary finds and that it was expected to be published the following week.

The Rector thanked Mr. Bronstein and called on Mr. Bobby Hatten to give the Finance and Facilities Report.

Finance and Facilities Report: Bobby Hatten

Mr. Hatten gave the report on behalf of the Finance and Facilities Committee detailing the consideration and activities of the committee meeting that morning. He noted that the Board is committed to the quality of this institution and supporting its mission, but also to our commitment to students and families. To offer greater detail on the proposal for Tuition and Fees, he called on Ms. Latour to give an overview of the proposal for Tuition and Fees. Ms. Latour began by reviewing how we came to this point including cost containment and reduction measures, student body size reduction, federal and state funding reductions, inflation and flat tuition. She then reviewed the proposal and resolution and entertained questions from the Board. After a period of thoughtful discussion and consideration and upon recommendation of the Finance and Facilities committee, Mr. Hatten provided the motion to approve Resolution 1: FY 2023-24 Tuition & Fees and Room & Board. Rector Carney Smith called for discussion. There being no further discussion, she called for a vote and the motion was approved by a unanimous vote.

The Rector thanked Mr. Hatten and called on Vice Rector McKnight to give the Operations, Audit and Risk Report.

Operations, Audit and Risk Report: Terri McKnight

Vice Rector McKnight greeted the board and gave a detailed report on activities of the Operations, Audit and Risk Committee. She reviewed details for the Internal Audit Report noting that much of this audit report will be fully reported at the June meeting, she continued with an update on the progress of the Administrative and professional compensation report and the Annual Security Report. Vice Rector McKnight then brought forward Resolution 2: University Retirement Plan Committee as a motion from the Operations, Audit and Risk Committee. Rector Carney Smith called for discussion. There being none, she called for a vote and the motion was approved unanimously.

Rector Carney Smith thanked Vice Rector McKnight and called on Mr. Kast to give the Academic Affairs report.

Academic Affairs Report: Steve Kast

Mr. Kast began his report by discussion and celebration. $3 million in annual external grant funding for the first time since 2008. He called attention to the distinguished list of faculty who have received grants, honors and awards this year and recognized them for their achievements. He then provided a report of the SACSCOC efforts noting that the fifth year interim report has been submitted and he thanked everyone for the efforts to compile, refine and submit that report.

The Rector thanked Mr. Kast for his report.

Student Life Report: Dr. Lee Vreeland

Due to the cancellation of the morning’s Student Life committee, the Rector called for a motion to approve the minutes of the February 3, 2023 Academic Affairs Committee meeting. Dr. Vreeland provided the motion and it was seconded by Ms. Brayboy.

The Rector then called on Dr. Lange to give an enrollment update. He reiterated Interim President Thompson's sentiment of a full court press with events, marketing and recruitment to enroll students to make our class. He noted that everyone is committed to achieving this goal and he thanked everyone for their help to meet the May 1 goal.

The Rector then turned to Ms. Wason to give the Advancement Report.

Advancement Committee Report: Judy Ford Wason

Ms. Wason opened her report by noting that the third quarter of the fiscal year just concluded with $5.2 million raised toward our $6 million goal. She is confident that we will surpass our goal by June 30. She celebrated the wonderful fundraising numbers for the PLP program during their anniversary year, the President’s Parent Council and CNU Day. She gave highlights on the Scholarship Celebration Day and the Wason Center Dinner for the Common Good. She turned to Rector Carney who gave an update on Athletics fundraising. She concluded her report by giving updates on fundraising for the arts and detailing the current campaigns for Faculty/Staff, Alumni Participation and the Senior Class Gift.

Rector Carney Smith thanked Ms. Wason for her report and called for a five minute break.

Upon resuming the meeting, the Rector called on Dr. Holland for the Faculty Senate Report and publicly recognized that this would be Dr. Holland’s final meeting as Faculty Senate President and thanked her for her service during her term and wished her best of luck with her future endeavors.

Faculty Senate Report: Rachel Holland

Dr. Holland greeted the Board of Visitors and noted how bittersweet it is to be at her last meeting with the Board as Faculty Senate President. She noted that a new president would be elected just following the board meeting and would join us for the June meeting. She recounted her excitement for Commencement and how this time of year underscores how important the relationships between students and faculty are and that they are one of the things that make this place so special. In relation to the budget, she detailed the faculty’s priority order and their encouragement to keep focus on academic mission and engage in open and transparent discussion.

She concluded her report by thanking the board for their thoughtful action and the strong foundation developed over her term. She announced to the board that her next step is to serve as the Chair for the Department of Music, Theater and Dance.

Rector Carney Smith thanked Dr. Holland for her report, service and commitment to students and called on Ms. Celine Rosario to give the Student Government report.

Student Government Report: Celine Rosario

Ms. Rosario thanked the Rector and the Board for their support throughout the year and noted that today would also be her last meeting as SGA President. She began her report with updates on the Anchor organizations activities and events recently completed and upcoming for the end of the semester. She then introduced Kate Bennett as the incoming SGA President noting that while President, Ms. Bennett hopes to maintain a strong flow of information from student to student, and as well as student to administration, to enhance campus unity by facilitating more opportunities for events like Light the Night and open forums that allow students and administration to hold an active conversation about potential concerns. Ms. Rosario thanked the Board again, recognized Dr. Hughes for his incredible efforts on behalf of the student body and SGA and Interim President Thompson for her support and wisdom. She concluded her report by introducing Sean Conway as the student speaker for the meeting.

Mr. Conway addressed the board detailing his journey as a student and providing significant perspective into both the ups and downs of the student experience. He was insightful, articulate and informative.

Rector Carney Smith thanked Ms. Rosario, welcomed Ms. Bennett noting she was looking forward to working with her next year and expressed deep gratitude to Mr. Conway for sharing his story.

Closed Session Under Freedom of Information Act § 2.2-3711(A)(1) Personnel

Rector Carney Smith called for a motion to enter Closed Session under Freedom of Information Act §2.2.3711(A)(1) Personnel for the purpose of discussing awarding of Emerita Status and Promotions of Instructional Faculty.

Vice Rector McKnight provided the motion, it was seconded by Mr. Tillett and the motion was passed by unanimous vote of the Board.

Return to Open Session: Secretary Christy Morton

The Board returned to Open Session and Secretary Morton asked for a roll call certifying that only public matters were discussed that were identified in the motion by which the executive or closed meeting was called. All Board members present, certified to the above by roll call: Ms. Brayboy, Rector Carney Smith, Mr. Hatten, Mr. Kast, Mr. Lawson, Vice Rector McKnight, Ms. Meadows, Secretary Morton, Mr. Pope, Mr. Robinson, Mr. Tillett, and Ms. Wason. Dr. Vreeland was not present for the closed session.

Mr. Kast brought forward Resolutions 3-5: Resolution 3: Award of Emerita Status, Resolution 4: Award of Emerita Status and Resolution 5: Promotions of Instructional Faculty at the recommendation of the Academic Affairs Committee. Rector Carney Smith called for any discussion. There being none, Mr. Kast made a motion to approve Resolutions 3-5 and they were passed by a unanimous vote of the Board.

Adjournment: Lindsey Carney Smith

Rector Carney Smith called for any final business. There being none, she reviewed upcoming event dates for Commencement and the June Board meeting.

There being no further business the meeting was adjourned at 2:35 p.m.