The Ohio State Board of Trustees is slated to meet this week to vote on topics including a review of the university’s compliance with federal regulations.
The Audit and Compliance Committee expressed particular concern over its Title IX program, which it says is at “high risk” according to the meeting agenda.
Former marching band director Jonathan Waters was fired July 24 following a two-month university investigation that found the band contained a sexualized culture and that Waters had not done enough to stop it.
The Board agenda lists particular concern over the risk of potential litigation or reputational harm. The Department of Education’s Office of Civil Rights is currently conducting a four-year compliance review of OSU’s Title IX program.
The agenda also says there are ongoing negotiations with the office over a proposed resolution agreement.
The Board is also set to review the university’s status after the Fiscal Year 2014 and make budgetary and investment plans for FY 2015.
The biggest financial changes will come from reallocation of the university’s long-term investment pool.
That pool beat its expectation of approximately 11 percent, receiving a return of about 13 percent, with a return of 21 percent in its global equity markets.
In response to market changes, chief financial officer Geoff Chatas is set to ask the Finance Committee to reallocate its assets, including eliminating investments in private capital while increasing the percentage of assets in global equities. Those assets are now set to comprise 40 to 80 percent of its total long-term investments, up from the previous range of 10 to 50 percent.
The university’s financial revenue has also been positive in its “But For Ohio State Campaign.” The fundraising campaign, which began in 2012, aims to raise $2.5 billion by 2016. The university goal at the end of FY14 was to raise $1.83 billion, and it has raised more than $1.97 billion.
Fundraising in that campaign is earmarked for specific areas, some of which are currently far short of their targets. Though fundraising for faculty and research far surpassed their target, the targets for modernizing classrooms, student-focused dollars, and an initiative to “drive high-impact innovation” are currently behind. “Drive high-impact innovation” and modernization of learning environments were each about $100 million short of their goals of more than $300 million.
Along with analysis of its financial status, the board is set make personnel changes to its own committees. After the expiration in July of Robert Schottenstein and Alan Brass’s trustee seats, lawyer and philanthropist Abigail Wexner and Alex Fischer, president and CEO of Columbus Partnership, were both appointed to the Board. Wexner and Fischer are both to be appointed to seats on the Advancement Committee Friday. Additionally, Fischer is set to be appointed to the Finance Committee and Wexner is set to join the Academic Affairs and Student Life Committee, as well as the Wexner Medical Center Board.
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