FINANCE COMMITTEE

BOARD OF TRUSTEES

NORTHERN MICHIGAN UNIVERSITY

Report of meeting held July 1, 2009

A conference call meeting of the Finance Committee of the Board of Trustees was convened at 9:05 a.m., Wednesday, July 1, 2009, in room 602 Cohodas Hall by Mr. Stephen F. Adamini, Chair.  Also present at the meeting were:

            Mr. Brian Cloyd – Board of Trustees Member and Committee Member (via phone)

Mr. Gilbert L. Ziegler – Board of Trustees Member and Committee Member (via phone)

Dr. Douglas B. Roberts – Chair of the Board of Trustees and ex officio (via phone)

Dr. Leslie E. Wong – President and ex officio

            Mr. R. Gavin Leach – Vice President for Finance and Administration and Treasurer of the Board of Trustees

            Ms. Sherri A. Towers – Budget Director

            Ms. Cindy Pohlman – Senior Financial Analyst

            Mr. David Haynes

OPEN AGENDA

Mr. Leach gave a report on the current status of the state budget, NMU’s current budget outlook, and current unknowns in budget planning, including enrollment, compensation, tuition and fees, stimulus funding, and potential state scholarship/financial aid reductions.  There was open discussion and questions related to expenditures, state budget status, and tuition and fees.

The conference call/meeting was adjourned at 10:01 a.m. with another conference call/meeting being scheduled for Wednesday, July 8 at 4:00 p.m.