Summary of Seattle University Board of Trustees Actions February 13, 2020

February 13, 2020

The Board of Trustees held its regular meeting on February 13, 2020.

The following is a summary of the Board’s actions:

University Representatives:  The Board welcomed Academic Assembly President Dr. Frank Shih; Staff Council President Leanne Wagele; SGSU President Jess Juanich; GSC Chair Clara Cordova; Alumni Board of Governors representative Megan Cycyota; and Board of Regents Chair the Honorable Anita Crawford-Willis.

President Sundborg’s Retirement:  The Board accepted a formal notice from Fr. Stephen V. Sundborg, S.J. that he will retire effective June 30, 2021. 

Resolution Honoring President Sundborg:  The Board adopted a formal resolution honoring Fr. Steve and recognizing his 24 years of service to Seattle University.

Commencement of Presidential Search and Appointment of Search Committee:  The Board adopted a formal resolution commencing the presidential search process and formally approving the membership of the Presidential Search Committee.

Presidential Search:  The Board heard a report from Presidential Search Co-Chairs Betty Woods and John Vassall.  Dr. Vassall and Ms. Woods reviewed the preliminary search timeline.

Strategic Directions Implementation:  The Board heard a report from President Sundborg and Provost Shane Martin regarding the implementation of the new strategic directions, including the appointment of the Strategic Planning Council and Strategic Planning Working Groups.

Financial Repositioning:  The Board heard a report from CFO Wilson Garone regarding financial repositioning and a preliminary five-year financial plan that will support investments in the university’s new strategic directions and initiatives.

FY 21 Financial Parameters:  The Board approved financial parameters for the FY21 Budget.

403(b) Plan Adoption Agreement:  The Board approved a new IRS-approved 403(b) plan document. This did not involve any material changes to the plan.

Academic Affairs:  The Board heard a report from Provost Martin on the division of Academic Affairs, including Student Development, Enrollment Services, Information Technology Services, and Academics. 

Board Elections:  The Board re-elected David Burcham as Vice Chair of the Board and re-elected Ruth Tressel and John Vassall to at-large positions on the Board’s Executive Committee.  The Board reelected six trustees to new 4-year terms on the Board.

Investment Policy:  The Board approved a new Investment Policy Statement for the University Endowment.  The new policy reflects the migration to an outsourced chief investment officer model.

The next meeting of the Board of Trustees is April 29 and 30, 2020.