Wright State University Student Union | Photo by Marissa Couch | The Wright State Guardian
Wright State University’s (WSU) Board of Trustees’ Finance, Audit, Governance and Compliance Committee met on Friday, Jan. 22. A proposal for an intercollegiate athletics committee was presented, following discussion of financial reports and projections through the end of the fiscal year.
A new committee
Board of Trustees Chair Tom Gunlock discussed his plan to establish a new committee to explore the future status of intercollegiate athletes in higher education. The goal of this committee will be to make recommendations which keep WSU intercollegiate athletics in the best position going forward.
“We can all agree that the current pandemic has significantly disrupted collegiate sports at all levels,” said Gunlock. “It appears the NCAA may well be forced to make significant changes in operational parameters which should impact all participating universities. It’s my belief that we are best served to be proactive in our review of this area and understand how it may affect us here at Wright State.”
Vice Chair Marty Grunder will act as chair of this new committee. Joining him will be board trustees Andy Platt and Brittany Whiteside, along with former Chair Doug Fecher.
According to Gunlock, this committee will analyze the current roles intercollegiate athletics play for the university and its students, the coronavirus’ financial and participatory impacts on athletics and how athletics can best serve the university going forward. The group will also be conscious of how these aspects could potentially benefit WSU’s enrollment and retention.
Following the call to order and comments from Chief Operating Officer Greg Sample, Sommer Todd, director of university fiscal services, presented monthly financial performance reports through November 2020. Todd also spoke on the first seven days of the spring semester, reporting total revenue is down from this time last year, though not as low as projected.
“We are down significantly from spring last year at 14%,” Todd said.
Todd went on to report 91% of revenue budgeted from tuition and fees has been collected, indicating more revenue than budgeted for being acquired in this area by year end. As compared to data collected this time last year, however, revenue is down in several areas. This is in large part the consequence of the coronavirus pandemic, inhibiting revenue sources such as athletics, resident services, campus dining, and student affairs.
Investments as projected
Investment reports were presented by Don Borowy. At this time, investment income is tracking as projected or better.
“[This portfolio is] very plain vanilla,” said Borowy. “There’s not a whole lot of deviation in the amount of income we get and yields.”
The full data and projection reports presented at this meeting can be accessed through the following link: https://www.wright.edu/board-of-trustees/meetings/meeting/396426