Board Meeting Updates

Board of Trustees Meeting

October 1, 2021

Tags Board Meeting Updates

Dear Members of the Hamilton Community,

On Friday, Oct. 1, the Board of Trustees held its annual fall meeting via Zoom.

Our new Alumni Trustees, Phyllis Breland ’80, Eric Grossman ’88, and Lindsey Rotolo ’97 participated in a formal orientation on Thursday, Sept. 30. On Thursday and Friday, board committees met and welcomed new trustee, faculty, staff, and student representatives. The following is a summary of committee discussions, with additional highlights from committee chairs shared in closing:

• The Committee on Audit met in advance and reported that KPMG completed its audit with no significant findings. They also discussed the anticipation of cybersecurity insurance increasing significantly for all industries this year.
• The Committee on Advancement reviewed fiscal year 2021 fundraising outcomes noting that the College exceeded its goals for the Hamilton Fund but anticipates this year will be challenging for annual giving.
• The Committee on Budget & Finance reviewed fiscal year 2021 results and projections for fiscal year 2022, including COVID-19 expenses, inflation, and wages.
• The Committee on Academic Affairs heard an update on Middle States assessment reporting. Committee members commended the Dean of Faculty Office for hiring 14 tenure-track faculty members last year when many other colleges froze all open positions because of the pandemic.
• The Committee on Buildings, Grounds & Equipment discussed the College’s Seven-Year Capital Plan and the need for significant improvements to Sage Rink, which turns 100 this year. The Committee also heard an update on the work of the campus Sustainability Working Group, and will meet again soon to discuss issues related to reduction of campus carbon emissions.
• The Committee on Student Affairs focused primarily on student mental health as we return to more normal campus operations.
  In plenary sessions, trustees heard updates from Vice President for Enrollment Monica Inzer, Dean of Engaged Education Kathy Wolfe, and Director of the Days-Massolo Center Paola Lopez.

Board Chair David Solomon ’84, P’16 opened the formal board meeting, and Imad Qasim ’79 led a prayer. A resolution passed to approve board meeting dates for 2022-23, and I then addressed three topics in my remarks. First, I shared information about the College’s continuing response to COVID-19, commenting specifically on the differences between last year and this year. Trustees offered their gratitude for how our campus community has worked together for success and expressed their ongoing support. Second, I gave an overview of our search for a chief diversity officer, which, as I communicated on Aug. 30, is being led by a College committee of faculty, staff, and students with the help of Storbeck Search. Finally, I spoke briefly about the College’s strategic priorities, including the ongoing work to bring Digital Hamilton to life by envisioning a Digital Gateway facility.

I also had the privilege of announcing that two scholarships created recently to honor the late civil rights icons Drew Days ’63 and Bob Moses ’56 have each achieved over $1 million in funding thanks to the generosity of many trustees, alumni, and friends.

Highlights from committee reports included the good news relayed by Committee on Advancement Chair Aron Ain ’79, P’09, ’11 that the Because Hamilton campaign remains on target at 82 percent of goal with $334 million raised so far. Board Vice-Chair Robert Delaney ’79 provided a summary of this year’s excellent endowment returns, and Howard Bogle ’75 shared a year-end projection for FY22 and budget assumptions for FY23. The board passed a resolution to accept the College’s financial statements for fiscal year 2021.

The next meeting will be held on Friday, Dec. 3, in conjunction with the annual 1812 Leadership Circle Weekend in New York City, assuming pandemic conditions are favorable enough for us to gather in person.

David