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Board Accepts Audited Financial Statements

Board of Directors meeting summarized for college communityThe Pennsylvania College of Technology Board of Directors on Thursday accepted audited financial statements for the college, the Penn College Foundation and the Community Arts Center and approved updates to the college’s Strategic Plan.

The board heard a report from Suzanne T. Stopper, vice president for finance/chief financial officer, on the audited financial statements for the fiscal year ending June 30. The college received an unqualified clean audit opinion from its auditing firm, Larson Kellett & Associates, P.C.

Stopper said financial challenges faced in the fiscal year included decreased enrollment, increased operating costs related to completion of projects in the Stage X Building Program, amortized costs associated with bond refinancing and a sharp rise in the college’s health-insurance costs. She noted there has been no increase in the college’s state appropriation for three years.

The board ratified various updates to the Strategic Plan that included additions and “retirements” of initiatives contained within the plan’s eight goals. The Strategic Goals and Initiatives can be viewed on the portal and on the college’s public website.

Colin W. Williamson, dean of the School of Transportation Technology, presented an overview of the school and its programs, addressing individual departments, facilities and equipment, accreditations, and examples of student successes and program achievements.

He updated board members on the automotive restoration technology major that will debut in Fall 2012 one of only a few offered nationwide (and the sole program of its kind in the Northeast United States). Penn College President Davie Jane Gilmour praised Williamson and Paul L. Starkey, vice president for academic affairs/provost, for their guidance in bringing the major to fruition so quickly. Williamson expects the program to enroll 18-20 students initially.

Williamson also informed the board that the school and college will host a weeklong national conference for Honda teachers/instructors in the summer.

Carl L. Shaner, director of the recently renovated and expanded College Health Services Center, spoke to the board about Health Services activities. His presentation included information on illnesses and conditions treated at the center; wellness, education and prevention programs offered to the campus community; health-related impediments to academic performance; the volume of patients treated; and expanded and enhanced medical services offered at the facility, located in the Bush Campus Center.

The center’s patient volume exceeded 8,000 the past two years. Shaner said that’s more than double the number of patients treated in 2002-03.

In her report to the board, Gilmour noted it was the final board meeting for Jim Cunningham, vice president for information technology and business process improvement, who is retiring this month.

“He has elevated technology on this campus, without a doubt,” she said.

Board Chairman Robert E. Dunham concurred.

“I wish him the very best,” he said. “And, I think what this means is that his brother Mike has big shoes to fill.”

The next board meeting is scheduled for Feb. 16.

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