CORVALLIS, Ore. – The Oregon State University Board of Trustees on Friday approved an operating budget of $1.1 billion for 2015-16, a presidential employment agreement with Ed Ray, and a new presidential assessment policy.
Anticipated revenues and expenses are both expected to increase during the next fiscal year, university officials told the board. Education and general funds in support of education, research and outreach is projected to reach $572.6 million; self-supporting funds, including auxiliaries such as athletics, housing and dining, etc., are projected at $211.4 million; and restricted funds from grants, contracts and gift expenditures are projected at $315.1 million.
The board voted to extend President Ray’s term through June 30, 2020, and maintained his current base salary for 2015-16 at $298,381 and supplement from the OSU Foundation of $230,358 – for a total annual salary of $528,739.
The board also established a policy requiring an annual presidential assessment based on the OSU president’s self-assessment report and achievement of (or progress toward) goals established by the board. It also mandates a periodic comprehensive assessment of the president based on progress toward achievement of the university’s strategic plan, including feedback from multiple constituencies.
The board of trustees approved OSU’s 2015-17 biennial capital plan, which is dependent upon funding from the Oregon legislature, the university’s fund-raising success, and future revenue bond sales. The proposed capital plan for the biennium is nearly $258 million. Among the initiatives:
- Construction of the Oregon Forest Science Complex, $60 million;
- Launch of the Marine Studies Initiative, including a new building in Newport, $50 million;
- Construction of an academic center and residence hall at OSU-Cascades, $42 million;
- Expansion and renovation of the north end zone in Reser Stadium, $42 million;
- Renovation of Cascade Hall on the Corvallis campus, $12.9 million.
- Technology infrastructure improvements, $10 million.
The capital plan also earmarks funding for campus accessibility improvements ($5.9 million), modernization of teaching labs ($5.4 million), classroom modernization ($2.8 million), building repairs ($3.4 million), and communications infrastructure improvements ($2.5 million).
The board approved OSU’s 2015-16 “Achievement Compact” with the Oregon Education Investment Board – a series of goals, outcomes and measure of progress for the fiscal year that are mandated by statute for each educational institution in Oregon.
Among the goals is to increase the number of bachelor’s degrees awarded to Oregonians, students receiving need-based Pell Grants and under-represented minority students. Oregon State exceeded the 2013-14 targets and is on track to out-perform the 2014-15 projections.
“The future of achievement compacts with the state remains uncertain as the OEIB sunsets at the end of the current legislative session,” said OSU Provost Sabah Randhawa. “Nevertheless, achievement compact metrics remain important to Oregon State University and will continue to be part of the university’s strategic focus and use of metrics.”
In other action, the board recommended to the state Higher Education Coordinating Commission approval of a new doctoral degree program in Women, Gender, and Sexuality Studies that will begin this fall term. OSU offers the only master of arts degree in this discipline in the state. The Ph.D. program, which will be in the College of Liberal Arts, will only be the second of its kind in a multi-state region.
The board heard preliminary plans on how the university will recognize its 150th anniversary in 2018. Steve Clark, vice president for University Relations and Marketing, said the observance will provide an opportunity to “indelibly portray OSU’s leadership, innovation and excellence as an internationally recognized public research university for the 21st century.”
Clark said the university plans to create a major exhibit at the Oregon Historical Society Museum in Portland, publish a university history book, launch a statewide roadshow of OSU history, and create a keepsake pictorial book. Several events to be held in 2018 are in the planning stages, he added.