UofM Board of Trustees takes several actions at Wednesday meeting
June 4, 2020 - At a meeting of the University of Memphis Board Trustees held via video
conferencing Wednesday, President M. David Rudd presented an update on the University
vision and how the University is moving forward. He pointed out that 2020 spring student
performance was up over spring 2019; construction projects were moving forward, including the
Student Fitness and Wellness Center and Scheidt Family Music Center; summer enrollment
is up 15.3% in undergraduate headcount and 18.6% in credit hours over last year; and
more than 2,500 students have registered for New Student Orientation, an increase
of 13% over last year at this time.
Noting the University’s consistently low tuition and fee increases over the past seven
years, Rudd said, “We continue to be committed to that. It has allowed a greater number
of students to be retained and stay on a pathway to graduation.”
He also said the UofM remains committed to achieving Carnegie R1 research status,
even during the pandemic. “We have 22 active research projects targeted at COVID-19,”
he said.
In actions, the Board:
- Approved the final operating budget for fiscal year 2020 and proposed budget for fiscal year 2021. The budget includes a tuition cap for UofM Global undergraduate credit hours at 12 and setting a tuition cap for graduate credit hours at 10 to be in line with the on-campus fee structure. The final budget is subject to state approval later this month, and the proposed University budget for fiscal year 2021is based on the level of state funds in the Governor’s interim proposed budget.
- Approved capital budget requests for fiscal year 2022, including the $41 million STEM Research and Classroom Building;
- Approved the UofM entering into agreements related to the development of a housing project on Deloach Street, including working with impacted residents. The property will be used for development of suite-style apartments in a village setting that will provide private and safe living and study space for students. The project should increase the University’s stock of apartment-style housing options.
- Approved a proposal to create a Master of Nonprofit Management program which would provide theoretical and practical knowledge necessary to lead and transform organizations that address social issues;
- Approved the appointment of Danielle Fong as Student Trustee;
- Approved tenure and promotion for faculty members and tenure by appointment for Dr. James Vardaman, Enterprise Chair of Excellence in Management in the Fogelman College of Business & Economics; and
- Approved the UofM’s fiscal year 2021 audit plan.