This week, the board met to discuss new construction and sustainability projects on campus, freshman class stats, a 2023 football ticket price increase, well -be student financial, Scarlet and Gray Advantage program and more. Here’s the breakdown of The Lantern.
Wexner Medical Center Board of Trustees
The Wexner Medical Center meeting saw several resolutions passed Tuesday, including building a new $85 million inpatient hospital and new implementations for patient care and safety.
Additionally, Dr. David Cohn presented a report on James Cancer Hospital. He said the hospital’s Center for Cancer Engineering was developing 3D printing for head and neck cancer surgery and using artificial intelligence to predict pathological fractures.
Academic Affairs and Student Life Committee
The Academic Affairs and Student Life Committee discussed student financial well-being and the status of this fall’s incoming freshman class at its meeting on Wednesday. Dr. Melissa Shivers, Senior Vice President of the Office of Student Life, shared how the Scarlet and Gray Advantage program, dedicated to providing Ohio State students with a debt-free education, has helped students provide support for budgeting, credit card and debt education.
“We think it’s extremely important, as part of supporting the mental well-being of students, that we are able to provide them with the resources and education to help them become more financially savvy so that they can make good decisions about their finances and their financial capability – both now and in the future,” Shivers said at the meeting.
According to a 2022 National College Health Assessment presented at the meeting, 47% of college students nationwide said they had experienced financial problems or challenges in the past 12 months. At Ohio State, 40% of students have endured financial hardship.
Ben Raines, financial coordinator for the Student Wellness Center, said the program impacted more than 2,200 students in the 2021-2022 school year. He said the plan was responsible for more than $44,000 in tuition reimbursed under the late fee waiver program.
The university admitted 34,000 students out of more than 71,000 applications from prospective freshmen. About 8,000 students decided to enroll.
Minority students make up 27.4% of the freshman class, and 21.6% of students are first-generation students.
According to the board’s website, 98% of this fall’s incoming class placed in the top 25% of their high school class, and 70% of incoming students placed in the top 10%. .
Urban planning and equipment committee
At Tuesday’s Master Planning and Facilities meeting, the committee discussed the university’s sustainability efforts. Ohio State has diverted 40% of waste from landfills and the university’s carbon footprint has been reduced by 30% since 2015.
The committee gave updates on ongoing construction projects, including the combined heat and power plant and the new lacrosse stadium. Although currently behind schedule, the powerhouse is expected to be completed in December 2023. The stadium is expected to be completed next month.
At the end of fiscal year 2022, the active projects budget included 691 projects totaling $3.7 billion.
Research, Innovation and Strategic Partnerships Committee
Directors of Research, Innovation and Knowledge, Executive Vice President Grace Wang and Vice President for Research Peter Mohler provided an overview of the department’s goal to foster innovation and entrepreneurship campus-wide at a board meeting Thursday, according to the meeting program.
Lewis Von Thaer, chairman of the board, announced that Wang will step down to become the 17th president of Worcester Polytech Institute in Massachusetts. Von Thaer said at the meeting that Wang’s work with Ohio State has had a profound impact.
“In fiscal year 2021, Grace oversaw record research and development spending of more than $1.2 billion,” Von Thaer said.
Finance and Investment Committee
Starting next football season, a $2 fee will be added to every ticket per game to help fund the preservation and upkeep of the Ohio Stadium’s athletic department, the board announced Thursday. during the Finance and Investment Committee meeting. These funds will go towards projects such as bathroom upgrades, concrete repairs and field-level surface repairs. Student tickets will still cost $34 per game and $204 for season home games.
Dues for the Ohio State golf course were also increased by 8% to account for maintenance, as requested by the Athletic Council.
The University Foundation report included more than $7.7 million donated to the university for scholarship funds and endowed chairs.
Senior Vice President for Advancement, Michael Eicher, presented the advancement update. Eicher said the university has raised about $3.6 billion of the $4.5 billion the university wants to raise from Oct. 1, 2016 through Oct. 31, 2022.
Michael Papadakis, Senior Vice President of Business and Chief Financial Officer, and Jay Kasey, Senior Vice President of Administration and Planning, discussed the finally approved capital investment plan. The plan earmarked $155 million for deferred maintenance, including $12 million for the combined heat and power plant and $6 million for Cancer Inpatient Hospital as part of Wexner Medical Center.
According to the report, the university is currently in “the final phase of energy conservation measures and expects to exceed the 25% efficiency target through these efforts.”
The university’s financial report says Ohio State’s overall position is “strong” following the COVID-19 pandemic. Operating revenue increased $173 million from July to September compared to fiscal 2021, including increases of $98 million in health care revenue and $23 million in student tuition. students.
Legal, Audit, Risk and Compliance Committee
At Wednesday’s Legal, Audit, Risk and Compliance Committee meeting, the committee heard an update on the FY2022 audit.
KPMG, a network of professional firms, has been engaged to carry out the external audit of the university’s 2022 financial statements. The results of the audit revealed no significant unusual transactions, no acts of fraud or illegal activity and no non-compliance with laws or regulations, according to the agenda and meeting notes.
Dr. Wondwossen A. Gebreyes, Executive Director of Global One Health, told the meeting that since Global One Health was established by the Board of Directors in November 2016, the initiative has continued to grow and make a “ excellent” work in countries like Ethiopia.
According to the agenda of the meeting, this work included the vaccination of 141,000 dogs against rabies, the creation of partnerships with the Ethiopian government and the establishment of seven molecular diagnostic and epidemiology laboratories.
Aubrey Wright, Jacob Benge, Amani Bayo, Jasmyne Smith and Becca Duncan contributed reporting.