June 2014 board report
On Friday, June 6, the University’s Board of Trustees gathered at the Water Tower Campus for their quarterly meeting to discuss a number of initiatives. Below, please find some of the highlights from their meeting.
Approval of Arrupe College—The University’s proposal and business plan for the new Arrupe College of Loyola University Chicago was formally approved by the board members. The institution, which takes its name from Pedro Arrupe, S.J., a Basque Jesuit and past Superior General of the Society of Jesus, will deliver a college-level program that will grant an Associate’s degree. The goal is to ensure that students with limited financial resources and academic credentials that may be insufficient to secure admission and funding at a four-year institution have access to a high-quality, structured, and affordable liberal arts education that will prepare them to complete their undergraduate degree at a four-year program at one of the state’s public or private universities. Board approval is just the first of many steps toward the establishment of this new college, but we are excited about this opportunity, and we will provide more information to the University community in the coming months. Tentative plans call for the college to open in the fall of 2015.
Honoring the Champs—A resolution recognizing the men’s volleyball team and their first NCAA National Championship was approved by the board. Head Coach Shane Davis was in attendance for the reading of the resolution and a short video chronicling the team’s championship run was played for the board.
Welcoming New Trustees—The board announced the addition of six new members: Melanie C. Dreher, PhD, RN, FAAN; Ruthellyn Musil (BA ’75); John G. Schreiber (BBA ’68); Niranjan S. Shah; Stephen P. Squinto, PhD (BA ’78, PhD ’84); and Kevin W. Willer.
Operating and Capital Budget Approval for FY 2015—The University’s budget for fiscal year 2015 was approved by board members. As in past years, the University remains disciplined in our spending policies and continued healthy enrollments should bode well for positive results in the new fiscal year.
I hope that your summer is relaxing and rejuvenating.
Michael J. Garanzini, S.J.
President and CEO