On Wednesday, December 7th, Stockton University’s Board of Trustees held their final public meeting of the year at 3:30 p.m. in the Galloway Campus Center’s Michael Jacobson Board of Trustees Room. The public meeting, which featured an ASL interpreter, was well-attended, with faculty, staff, students, and other members of the Stockton community present. During the meeting, the Board of Trustees received reports and updates from President Harvey Kesselman, the Academic Affairs and Planning Committee, the Student Success Committee, the Finance and Professional Services Committee, the Audit Committee, the Buildings and Grounds Committee, and the Development and Investment Committees. The open session concluded in under an hour.
The public meeting opened with the resolution to approve Dr. Beverly J. Vaughn as the recipient of the Distinguished Service Award, which was met with what Trustee Ciccone remarked as being “the most colorful resolution” that he had heard. Upon the board’s unanimous resolution, Trustee Davis stated that “Dr. Vaughn is pure energy. She’s a force of nature. I think we all know that. That was true 40 years ago when she first joined Stockton’s faculty, and it remains true today. There are so many reasons to honor Dr. Vaughn…[who] has worked tirelessly at Stockton and throughout the state of New Jersey to improve racial and cultural understanding…[she] embodies the goals and aspirations of Stockton University.”
Afterward, President Kesselman reported the recent success of Stockton University’s Polling Institute, which was ranked #1 in state pollsters in 2020 for Presidential and Senate battleground elections in RCP‘s annual ranking of polling outlets, out-ranking publications like the Boston Globe and the Dallas Morning News. Kesselman also touched upon the start of Stockton’s 2022-23 basketball season, the 38th Student, Faculty, and Staff Dinner, and expressed his satisfaction with Stockton Oratorio Society’s most recent production of Handel’s Messiah at the Borgata Event Center.
In their report, the Academic Affairs and Planning Committee announced the implementation of three new degrees, which include a Bachelor of Science in Accounting, a Bachelor of Science in Business Analytics, and a Bachelor of Science in Finance. “I’ve waited 50 years for us to have a degree in accounting,” quipped Trustee Ciccone. President Kesselman also remarked that the establishment of the three programs was done in “almost record time.”
Dr. Ian Marshall’s proposal for the implementation of three new concentrations to Stockton’s American Studies Graduate Program was also announced; the proposed concentrations include those in Religion, Philosophy, and Political Science.
During the Student Success Committee’s update, Dr. Christopher Catching announced the recipients of the Board of Trustees Fellowship for Distinguished Students for the 2023 Winter Break/Spring Semester. The new cohort consisted of four Stockton students, including Elizabeth Myers, Gurtej Singh, Molly Rose Keane, and Stephanie Kusi Bamfo.
The Finance and Professional Services Committee announced three resolutions; these included the Appointment of Board Members to NARTP Inc, Tuition and Fees Discounts for the 2023 Summer Session, and the FY23 Increase in Bid Waiver Contracts and Managerial Merit Pool Authorization. Details regarding each of these resolutions can be found on the Stockton Board of Trustees’ website under the materials for the December 7, 2022, public meeting.
Following the announcement, President Kesselman noted that Stockton University had received the greatest increase in its appropriation, having been raised to 39.4 million dollars. Additionally, Kesselman remarked that “for the first time…we have the 39.4 million being recommended by OMB to the governor, and it is likely that that will be the governor’s recommendation…the financial stability that we’ve experienced now will continue.” Trustee Ciccone stated that Kesselman worked “day and night on the legislature” to secure Stockton’s funding for the fiscal year, claiming that “no one has accomplished this.”
The Buildings and Grounds Committee report mainly discussed the construction of Stockton’s Multicultural Center, as well as its coming athletic recreation center project; if the completed plans are approved, construction with begin around February of 2023, and is projected to be completed by the summer of 2024.
Afterward, the Investment Committee announced that the University’s total portfolio balance, as of October 31st, amounted to $98,313,929. The return on the University’s investments for the year 2023 was a loss of $1,175,746, while the preliminary balance was $102,568,443, and the return on investments in the first five months of the year 2023 was a gain of $3,076,586.
The meeting concluded with President Kesselman’s policy review, followed by an opening for public comments. The Board of Trustees next public meeting will be held on February 22, 2023. For more information about the Board of Trustees and their public meetings, their website can be accessed here.
Categories: Stockton News