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SKIDMORE COLLEGE |
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FPPC Annual Report for Academic Year 2001-02 The FPPC met sixteen times in the course of academic year 2001-02. The general format of these meetings consisted of presentations of information, sometimes by invited guests, and then discussions. In a few cases it was decided to communicate a sense of the committee. No votes were taken. The issues considered included the following areas. The Strategic Plan: FPPC's role in the plan was an issue of primary concern. Possible uses of the $420,000 designated for plan expenses, costs and revenue sources for the proposed new faculty lines, models and cost estimates for the Filene-New Music Building Project, the goals and expenses of the coming campaign, etc., were discussed repeatedly and at length. The Proposed Operating Budget: As it does each year, the committee reviewed several versions of the proposed operating budget. Attention centered on the four key budget parameters: the number of students, the comprehensive student fee, financial aid, and employee compensation. Information about the value of the endowment, investment revenue, and other sources was included. A substantial financial aid "shortfall", due to various factors, placed significant pressures on the other parameters. The fact that this shortfall was first recognized in January, which was regarded by several committee members as late in the budget process, led to the proposal and acceptance of a committee resolution that the financial aid component be carefully monitored by mid-November in future years. Debate also continued concerning possible changes of the amounts proposed for the other parameters. As part of this, the AAUP data on compensation were discussed, including questions about their meaning, about how appropriate the comparison group we use might be, and what should be done with the data in any case. Related to this, the committee organized and conducted a special meeting on compensation, and decided that compensation will be a central topic for FPPC study for next year. The Proposed Capital Budget: As it does each year, the committee discussed at some length the components of the capital budget. Included in this discussion was a detailed presentation of the institutional technology budget proposals. The committee also looked at the College's deferred maintenance projects. Benefits: In consultation with the Benefits Committee, a detailed proposal was sent to the President suggesting formation of a benefits review task force. Unrestricted Bequests: The committee discussed whether any pattern in the amount of unrestricted bequests, an amount which has been increasing over the years, might allow this income to be used in the operating budget. Other Topics: Skidmore's auditing team, the new Director of Financial Services, and our relation with IKON and Sodhexo (the contracts with whom will soon expire) were discussed. The committee recommended, on the basis of surveys presented and other information, that the contracts with Sodhexo and IKON be renewed.
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