08
June
2018
|
06:00 AM
America/New_York

Ohio State University trustees approve new endowments from proceeds of energy management partnership

Endowments fund university priorities

photo:Chris Davey
Chris Davey
Associate Vice President, University Communications

The Ohio State University Board of Trustees today approved the establishment of the Strategic Initiatives Endowment Fund with $700 million from the Comprehensive Energy Management transaction.

The university will use annual distributions from the fund to support strategic priorities including student scholarships, faculty and staff professional development and compensation enhancements. It will also cover the Buckeye Opportunity Program, which provides financial aid to cover the full cost of tuition for Ohio Pell-eligible students. The resolution passed with one dissenting vote by trustee Alex Fischer.

The board also approved establishment of the $75 million Energy Stabilization Endowment Fund to provide funding for a variety of expenses related to energy procurement, utilization and optimization for the university. The endowment includes $43 million in proceeds from the Comprehensive Energy Management Project; the rest comes from university reserves.

Trustees also approved the establishment of nine ENGIE-Axium Endowment Fundsthat are part ofthe academic collaborationagreementbetween the university and Ohio State Energy Partners LLC. These endowment funds, which total $54.5 million,are:

  • The ENGIE-Axium Endowed Dean’s Chair Fund
  • Two ENGIE-Axium Endowed Chair Funds
  • Two ENGIE-Axium Endowed Professorship Funds
  • The ENGIE-Axium Undergraduate Endowed Scholarship Fund
  • The ENGIE-Axium Graduate and Professional Endowed Scholarship Fund
  • The ENGIE-Axium Sustainability Projects Endowment Fund
  • The ENGIE-Axium Sustainability Curriculum and Staff Development Endowment Fund

Property purchase approved

Trustees approved the purchase of approximately 30 acres of unimproved property at the northeast corner of Sawmill Parkway and Home Road in Delaware County. The property is currently owned by Golf Village North LLC and the acquisition price is $8 million. The property will be used for the construction of an ambulatory care facility, which is a key component of the Wexner Medical Center’s strategic plan. Funds for the purchase will be provided by the medical center.

Construction contracts approved

The board authorized the university to enter into professional service and/or construction contracts for the following projects:

  • Doan – 6th and 7th floor NICU. The project will renovate the NICU areas on the sixth and seventh floors of Doan. This project is in cooperation with Nationwide Children’s Hospital and costs will be shared evenly. Trustees approved professional services and construction contracts of $7.5 million, to be provided by auxiliary funds.
  • Service Building Annex Renovation. The project will renovate the facility for a combined Facilities Operation and Development and Transportation and Traffic Management bus and vehicle maintenance facility, eliminating inventory, service and space duplication. Trustees approved professional services and construction contracts of $7 million, to be provided by university funds.
  • Advanced Materials Corridor. The project will include the renovation of both old Koffolt and Fontana Labs in alignment with the university’s strategic plan and Framework 2.0. Trustees approved construction contracts totaling $47.5 million, to be provided by university, development, state and bond proceeds.
  • OSU East – West Wing expansion/renovation. The project will renovate and expand the first floor of the west wing of the hospital tower. Trustees approved construction contracts of $23.9 million, to be provided by auxiliary funds.

2018-19 tuition and fees approved

Trustees approved the plan for the second year of the Ohio State Tuition Guarantee, which provides incoming students at all campuses with predictability by locking in costs for four years. In-state tuition, mandatory fees, room and board will increase by inflation — a total of 1.4 percent — for new first-year students on the Columbus campus and then be frozen at that rate for four years. In-state tuition and mandatory fees remain frozen for all other undergraduates, including members of the tuition guarantee class that began in autumn 2017. Next year’s graduates will be the fourth class to complete degrees without experiencing an increase to in-state tuition.

The tuition guarantee for incoming first-year students includes a 1.4 percent increase to the instructional fee and a 1.5 percent increase to housing and dining rates. Housing and dining rates will also increase by 1.5 percent for students who are not covered by the Ohio State Tuition Guarantee.

Most other fees will remain frozen, including the international surcharge and base tuition for graduate students.The non-resident surcharge will increase 4.8 percentfor most students, student health insurance will increase 8.6 percent to cover the cost of third-party coverage and differential fees for certain specialized master’s and professional programs will also increase based on market pricing

See separate release: https://news.osu.edu/news/2018/06/04/tuition-guarantee-second-year/.

The board also approved new rates for housing and dining, student health insurance and instructional fees for selected graduate programs. Incoming and third- and fourth- year students will see a 1.5 percent increase in fees over last year for the most common housing and dining plans. Second year students will see no increase because of the tuition guarantee. Student health insurance will increase 8.6 percent. Fees for certain specialized master’s and professional programs will also increase based on market pricing.

2019 budget approved

The board approved the fiscal year 2019 budget, which projects revenues will grow 4.7 percent to $7.5 billion for the entire university, including the Wexner Medical Center and all campuses. Spending is projected to be $6.9 billion. The budget reflects the university’s fiscal strength and priorities including access and affordability, academic excellence and health care. The budget resolution passed with one dissenting vote by trustee Jeffrey Wadsworth.

Capital Investment plan approved

Trustees approved the fiscal year 2019 capital investment plan, which proposes $790.7 million in new projects to be completed over the next five years. These include numerous Wexner Medical Center projects, construction of the Advanced Materials Corridor and renovations to the Celeste teaching labs.

Another $370 million will be spent in fiscal 2019 on continuing projects including renovation of Pomerene and Oxley halls, Postle Hall partial replacement, the Cannon Drive relocation and numerous athletics projects.

Utility system capital improvements approved

The board authorized Ohio State Energy Partners LLC to make $47.1 million in capital improvements to university utility systems. Ohio State Energy Partners is the university’s energy concessionaire, created when Ohio State selected Engie and Axium Infrastructure to manage the university’s utility system.

Utility system renovation, repair and replacement projects

  • McCracken Roof Phase 2 – Replaces part of the roof of the McCracken Power Plant. Estimated cost: $2.1 million
  • Air system modernization – Updates the compressed air system at McCracken. Estimated cost $27,000 (design only)
  • Safety upgrades at McCracken Power Plant. Estimated cost: $375,000
  • City water loss utility system risk assessment – To assess the resilience of the utility infrastructure across the Columbus campus against a loss of city water supply or pressure. Estimated cost: $48,000 (assessment, preliminary feasibility and design only)
  • Cyber-security implementation – Implements utility system cyber-security improvements. Estimated cost $1.56 million

Utility system expansion and extension projects

  • Advanced Materials corridor – estimated cost $795,000
  • Cannon Drive phase 2 – estimated cost $1.637 million (design only)
  • South residence halls air conditioning – estimated cost $56,000 (study only)
  • Combined heat and power plant and Midwest district heating and cooling loop – estimated cost $631,000 (design only)
  • New hospital phase 1 garage – estimated cost $1,079,000
  • Health Sciences Center utility systems – estimated cost: $528,000 (design and engineering only)
  • Ambulatory expansion – estimated cost: $22,000
  • West 12th Avenue infrastructure – estimated cost: $480,000 (design only)
  • Kunz-Brundige Franklin County Extension Building – estimated cost: $230,000

Energy conservation projects

  • Building energy systems optimization phase 1 – estimated cost $30,152,000
  • Campus exterior lighting – estimated cost: $1,367,000
  • ENGIE digital platform – estimated cost: $649,000
  • Behavior ECM through innovation – estimate cost: $150,000
  • Campus lighting-buildings phase 2 – estimated cost: $5,696,000

Concealed carry exception approved

Trustees approved a limited jurisdictional law enforcement exception to the Ohio concealed carry law.

Under this exception, off-duty officers from agencies that share jurisdiction on the Columbus campus who would potentially serve as first responders in the event of an incident would be permitted to carry concealed firearms on campus.

It allows off-duty, sworn law enforcement officials employed full-time by the Ohio State University Police Division, the City of Columbus Division of Police, Franklin County Sheriff’s Office or the Ohio State Highway Patrol who are in compliance with all applicable legal requirements, to carry a concealed firearm on university property located within the jurisdiction of their home agency, and to be admitted into buildings, events and venues with a firearm.

Foundation report approved

Trustees approved The Ohio State University Foundation Report as of April 30, 2018, including the establishment of the Bernie Frick Research Chair in Heart Failure and Arrhythmia; the Andrei Baronov and Ratmir Timashev Endowed Chair Fund in Data Analytics; the S.T.A.R. Professorship; the Ward Family Surgical Oncology Designated Professorship; the Helene Fuld Health Trust Endowed Professorship Fund for Evidence-based Practice in Nursing and Healthcare; and the Burn Jeng Lin, PhD and Sue Huang Lin Endowed ElectroScience Laboratory Professorship Fund; the John and Annie Glenn Fund for Eye Research; The Rahimian Endowed Graduate Support Fund; and 38 additional named endowed funds providing $9.8 million in private support to the university.

Center named

The board approved naming the Martha S. Pitzer Center for Women, Children and Youth at the College of Nursing in recognition of the generous support for the center by the Pitzer Family Foundation. Martha Pitzer is a three-time alumna of Ohio State and former faculty member in the College of Nursing who dedicated herself and career to caring for women and children.

Innovations Commons named

Trustees approved the naming of the Geography Research Innovation Commons (rooms 151 and 155E) in Derby Hall as the Gary and Connie Sharpe Innovation Commons in recognition of Gary and Connie Sharpe, who have generously provided funds to support renovation of the space in Derby Hall.

Kiplinger Program transferred

Trustees approved the transfer of the Kiplinger Program in Public Affairs Journalism to The E. W. Scripps School of Journalism at Ohio University, and the transfer of related funds to The Ohio University Foundation. Because of changes in the field of journalism and the university’s journalism program over time, including the discontinuance of the university’s School of Journalism, it can no longer support the Kiplinger Program as originally intended. The move to Ohio University is in order to best satisfy donor intent and the purpose of the Willard M. Kiplinger Professorship in Public Affairs in the School of Journalism fund.

New minimums approved for establishing named endowments

Trustees approved amendments to the minimum funding levels for establishing named endowment funds. Minimums were last updated in 2006, prior to the start of the successful But for Ohio Statecampaign that concluded in 2016. Effective July 1, 2018, the new minimums are:

Presidential Chair $10 millionDean’s / Vice President’s Chair $5 millionExecutive Director $3.5 millionChair $3.5 millionProgram Director $2 millionProfessorship $1 millionVisiting Professorship $1 millionUndergraduate Full Scholarship $1 millionGraduate Fellowship $1 millionUndergraduate Tuition Scholarship $300,000Restricted Fund $100,000Unrestricted Fund $50,000

Distinguished Service Award approved

Trustees approved a Distinguished Service Award be presented to John C. “Jack” Fisher in 2018.

Summer commencement degrees and certificates approved

Trustees approved the degrees and certificates to be conferred at summer commencement ceremonies on Aug. 5, 2018, to students who have completed the requirements for their respective degrees and certificates. The board also approved the awarding of a BS in business administration degree posthumously to Tarak Underiner.

Dentistry faculty appointment cap amendedTrustees approved an amendment to the clinical faculty appointment cap for the College of Dentistry. Based on planned increases in the program class size and additional community-based academic dental clinics in the Columbus metropolitan area, the college plans to increase the number of clinical faculty from the present cap of 40 percent of the total number of tenure, clinical and research track faculty to 75 percent.

Degree program establishedThe board approved the establishment of a Master of Public Administration and Leadership degree program in the John Glenn College of Public Affairs. The new program is an online program and will target working professionals who may not have the flexibility to commit to a residential program.

Personnel actions approved

The board approved the following personnel appointments and reappointments:

  • Douglas Berman has been appointed professor and holder of the Newton D. Baker-Baker & Hostetler Chair in Law in the Moritz College of Law effective June 8, 2018 through June 7, 2023
  • Janet M. Box–Steffensmeier has been appointed interim vice provost and executive dean in the College of Arts and Sciences effective July 1, 2018 through June 30, 2019 (or until a new vice provost and executive dean is hired)
  • Ken K. Boyer has been named professor and holder of the Fisher Designated Professorship in Management Sciences in the Fisher College of Business effective June 1, 2018 through May 31, 2023
  • Cinnamon P. Carlarne has been named professor and the Alumni Society Designated Professor of Law in the Moritz College of Law effective June 8, 2018 through June, 7, 2023
  • Amy J. Cohen has been appointed professor and the John C. Elam/Vorys Sater Professor of Law in the Moritz College of Law effective June 8, 2018 through June, 7, 2023
  • Isil Erel has been named professor and holder of the David A. Rismiller Chair in Finance in the Fisher College of Business effective June 1, 2018 through May 31, 2023
  • Nicholas G. Hall has been named professor and holder of the Berry Designated Professorship in the Fisher College of Business effective June 1, 2018 through May 31, 2023
  • Kewei Hou has been named professor and holder of the Ric Dillon Endowed Professorship in Investments in the Fisher College of Business effective June 1, 2018 through May 31, 2023
  • Steve Huefner has been named professor and holder of the C. William O’Neill Professorship in Law and Judicial Administration in the Moritz College of Law effective June 8, 2018 through June 7, 2023
  • Norman W. Jones has been appointed dean and director for The Ohio State University at Mansfield effective July 1, 2018 through June 30, 2023
  • Harvey J. Miller has been named professor and holder of the Bob and Mary Reusche Chair in Geographic Information Science in the College of Arts and Sciences effective Aug. 15, 2018 through Aug. 14, 2023
  • Brian G. Mittendorf has been named professor and holder of the Fisher Designated Professorship in Accounting in the Fisher College of Business effective June 1, 2018 through May 31, 2023
  • Nahush Mokadam has been named professor and holder of The Gerard S. Kakos MD and Thomas E. Williams Jr. MD, PhD, Professorship in the College of Medicine effective Aug. 15, 2018 through Aug. 14, 2023
  • James L. Moore III has been named vice provost for diversity and inclusion and chief diversity officer in the Office of Academic Affairs effective May 1, 2018 through June 30, 2022
  • Donald B. Pope-Davis has been named dean of the College of Education and Human Ecology effective July 15, 2018 through June 30, 2023
  • Stacy Rastauskas has been appointed interim vice president for government affairs effective May 21, 2018
  • Rebecca W. Reczek has been named associate Professor and holder of the Dr. H. Lee "Buck" Matthews Designated Professorship in Marketing in the Fisher College of Business effective June 1, 2018 through May 31, 2023
  • G. Paul Rose has been named professor and the Robert J. Watkins/Procter & Gamble Professor of Law in the Moritz College of Law effective June 8, 2018 through June 7, 2023
  • Darren T. Roulstone has been named professor and holder of the John W. Berry Sr. Fund for Faculty Excellence Professorship in the Fisher College of Business effective June 1, 2018 through May 31, 2023
  • Lawrence Drew Shirley has been named assistant professor and holder of the Ward Family Surgical Oncology Designated Professorship in the College of Medicine effective July 1, 2018 through June 30, 2022
  • Morley O. Stone has been appointed senior vice president for research effective Aug. 1, 2018
  • Bennett J. Tepper has been named professor and holder of the Irving Abramowitz Memorial Professorship in the Fisher College of Business effective June 1, 2018 through May 31, 2023
  • Henry J. Mann has been reappointed dean of the College of Pharmacy effective July 1, 2018 through June 30, 2023
  • Patricia Hill-Callahan has been reappointed vice president for advancement, principal gifts strategist for university advancement effective June 4, 2018
  • Jay Kasey has been reappointed senior vice president for administration and planning effective June 1, 2018
  • David P. McQuaid has been reappointed vice president for health services, chief executive officer of The Ohio State University Health System and chief operating officer of The Ohio State University Wexner Medical Center effective July 1, 2018 through June 30, 2021

New board members welcomed

The board welcomed new trustees Elizabeth P. Kessler and Gary R. Heminger. Kessler, of New Albany, is a partner-in-charge of the Columbus law office of Jones Day. Heminger, of Findlay, is CEO and board chairman of Marathon Petroleum Corp. Gov. John Kasich appointed them to the board last week, for terms beginning on June 11.

Trustees also welcomed Janice Bonsu of Pickerington. Bonsu, a graduate student in the College of Medicine, will serve a two-year term as student trustee.

Board of Trustees committee appointments approvedThe board approved the appointment of members to the following committees for 2018-19:

Academic Affairs and Student Life:Clark C. Kellogg, ChairCheryl L. Krueger, Vice ChairAbigail S. WexnerHiroyuki FujitaAlan A. StockmeisterAlan VanderMolenJanet PorterRichard K. Herrmann (faculty member)Michael J. Gasser (ex officio)

Finance:

Timothy P. Smucker, ChairBrent R. Porteus, Vice ChairJeffrey WadsworthAlex ShumateErin P. HoefflingerAlexander R. FischerJohn W. ZeigerH. Jordan MoseleyJames D. KlingbeilLawrence A HilsheimerMichael J. Gasser (ex officio)

Advancement:

Erin P. Hoeflinger, ChairAlan A. Stockmeister, Vice ChairClark C. KelloggAlex ShumateCheryl L. KruegerAbigail S. WexnerH. Jordan MoseleyAlan VanderMolenJanet PorterNancy KramerCraig S. BahnerKristin L. Watt (Alumni Assn member)Georganne M. Shockey (Alumni Assn member)James F. Dietz (Foundation Board member)Gifford Weary (Foundation Board member)Michael J. Gasser (ex officio)

Audit and Compliance:John W. Zeiger, ChairTimothy P. Smucker, Vice ChairJeffrey WadsworthBrent R. PorteusHiroyuki FujitaJames D. KlingbeilAmy ChronisCraig S. MorfordMichael J. Gasser (ex officio)

Governance:Alex Shumate, ChairJanet Porter, Vice ChairTimothy P. SmuckerErin P. HoeflingerAlexander R. FischerHiroyuki FujitaH. Jordan MoseleyAlan VanderMolenMichael J. Gasser (ex officio)

Talent and Compensation:Hiroyuki Fujita, ChairAlex Shumate Vice ChairClark C. KelloggErin P. HoeflingerJohn W. ZeigerH. Jordan MoseleyJanet PorterMichael J. Gasser (ex officio)

Master Planning and Facilities:Alexander R. Fischer, ChairJames D. Klingbeil, Vice ChairTimothy P. SmuckerBrent R. PorteusAlan A. StockmeisterRobert H. SchottensteinMichael J. Gasser (ex officio)

Wexner Medical Center:Leslie H. Wexner, ChairAbigail S. WexnerCheryl L. KruegerHiroyuki FujitaJohn W. ZeigerJanet PorterStephen D. SteinourRobert H. SchottensteinW.G. “Jerry” JurgensenCindy Hilsheimer Michael J. Gasser (ex officio, voting)Michael V. Drake (ex officio, voting)Bruce A. McPheron (ex officio, voting)Michael Papadakis (ex officio, voting)K. Craig Kent (ex officio, non-voting)L. Arick Forrest (ex officio, non-voting)David P. McQuaid (ex officio, non-voting)Mark E. Larmore (ex officio, non-voting)Andrew M. Thomas (ex officio, non-voting)Elizabeth O. Seely (ex officio, non-voting)Susan D. Moffatt-Bruce (ex officio, non-voting)Mary A. Howard (ex officio, non-voting)William B. Farrar (ex officio, non-voting)Martha C. Taylor (ex officio, non-voting)Amanda N. Lucas (ex officio, non-voting)

Wexner Medical Center Board appointment approved

Trustees approved the following appointments to the Wexner Medical Center Board, effective May 14, 2018:

Trustee members

  • Abigail S. Wexner, term ending May 13, 2019
  • Cheryl L. Krueger, term ending May 13, 2019
  • Hiroyuki Fujita, term ending May 13, 2019
  • John W. Zeiger, term ending May 13, 2019
  • Janet Porter, term ending May 13, 2019

Public members

  • Stephen D. Steinour, term ending May 13, 2019
  • W.G. “Jerry” Jurgensen, term ending May 13, 2021
  • Cindy Hilsheimer, term ending May 13, 2021

Self-Insurance Board appointment approved

Trustees approved the following appointment to the Self-Insurance Board effective July 1, 2018

  • Galen Barnes, term ending June 30, 2020 (reappointment)
  • Mark Larmore, term ending June 30, 2020 (reappointment)
  • Michael Papadakis, term ending June 30, 2020 (reappointment)
  • Doug Robinette, term ending June 30, 2020 (reappointment)

Resolutions in memoriam approved

The board adopted resolutions in memoriam for the following persons:

  • Saul Blumenthal, professor emeritus of statistics, who died on March 10, 2018
  • Walter F. Ersing (’55 MA, ’64 PhD), professor emeritus of physical education and exercise science, who died on Feb. 7, 2018
  • R. Clayton Roberts Jr., professor emeritus of history, who died on March 29, 2018
  • David Franklin Robinson, associate professor emeritus of Slavic Languages, who died on April 14, 2018
  • Robert (Bob) C. Stiefel, professor emeritus of engineering, who died on April 4, 2018

Board adopts strategic completion plan

Trustees endorsed an update to the Strategic Completion Plan for The Ohio State University. State law requires the Board of Trustees at each Ohio institution of higher education to adopt an institution-specific completion plan designed to increase the number of degrees and certificates awarded to students, and to update its plan at least once every two years.

Ohio State’s updated goals continue to aim at increasing the retention and graduation rates of all students. In addition, and consistent with the strategic plan Time and Change, the university will increase its efforts to enhance the college experience for underserved populations. The university’s 2018-2020 Strategic Completion Plan will be forwarded to the chancellor.

Joint use agreement approved

The board authorized the university to enter into a 20-year joint use agreement with the PAST Foundation. Ohio State was allocated $300,000 in the 2019 state capital bill that is specifically designated for use by the PAST Foundation, which plans to use the money for a new roof at the PAST Innovation Lab at 1003 Kinnear Road in Columbus. The organization has committed to making the PAST Innovation Lab available for the university’s use. The Ohio Department of Higher Education Board requires a joint use agreement before state funding can be released.

Financial procedures authorized

The board approved the annual authorization designating university officials to buy, sell, assign and transfer securities, to deposit or withdraw funds from bank accounts held in the name of The Ohio State University, to designate depositories and to execute related agreements.

The board also approved an extension of and amendment to prior authorization for the issuance and sale of general receipts obligations not to exceed $1 billion.

Faculty rules amended

Trustees approved amendments to the Rules of the University Faculty regarding criteria for appointment, reappointment and promotion and tenure of tenure-track faculty.