December 12, 2025
Dear Colleagues:
I write to share a few highlights from today’s meeting of the Board of Trustees.
During the meeting, Sue Hodges Moore, the interim vice president for business affairs and treasurer, and Scott Stachler, the associate vice president and chief budget officer, presented to the Board the financial report for our University for Fiscal Year 2025.
Our University had a strong financial year, receiving another clean audit opinion from the Indiana State Board of Accounts. The strength of our long-term financial position is the foundation upon which we plan for the future, and we are currently projecting a modest positive operating margin for our Fiscal Year 2026 budget.
This projected outcome is providing us with a little tailwind as we continue to reduce operating expenses in light of the external challenges we face, including reduced state operating appropriations of approximately $14 million. I am grateful to everyone who participated constructively in our budget planning process. Your input is helping us to identify operating efficiencies while continuing to maintain our vital mission.
The Board also heard an update from Provost Anand Marri about revisions to our Faculty and Professional Personnel Handbook related to the classification status of our non-tenure-line (NTL) faculty. These changes clarify voting rights of NTL faculty and more fully describe the promotion and titling process for NTL faculty. With these updates, NTL faculty have greater responsibility and agency in managing their own documents and committees.
At the meeting, the Board also received a presentation from Honors College Dean Jim Buss. Dean Buss shared that the Honors College currently serves approximately 40 percent more students than it did four years ago, while maintaining high quality in student recruitment. A major expansion to the Ed and Virgina Ball Honors House, which was completed this Fall, is allowing the Honors College to better serve its growing student population.
Also, Chris Paladino, the director of real estate services, provided an update to the Board about our ongoing revitalization projects in The Village. More than 50 percent of construction on the Center for Innovation and Collaboration is complete, and the same is true of construction on the Performing Arts Center and adjoining Cantio Hotel. Chris also showcased a design competition that took place this Fall in partnership with our Estopinal College of Architecture and Planning. The contest involved 52 student submissions for a public event plaza in The Village. Some elements from these designs may be incorporated into the final plan that will be developed by a professional team. Construction on the plaza is scheduled to begin next Fall.
As is customary, I made a few comments at the end of the meeting. I encourage you to read my remarks.
It is a privilege to serve with you, and I am grateful for your encouragement and support. I hope you have a safe and festive holiday season and enjoy your Days of Beneficence in the restful company of family and friends.
