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Updates from February 2020 Board of Managers Meeting

Board of Managers

Dear Friends,

We write with brief updates from the Board of Managers meeting on campus this past weekend.

The Board spent much of its time focused on topics related to financial sustainability—closely examining the College’s finances and considering a number of scenarios to determine how various market conditions or investments in campus infrastructure would affect our planning. As we anticipate upcoming capital investments to address deferred maintenance and necessary building renovations to meet academic and other needs, the Board must consider what kinds of information we need to make informed decisions and support the priorities of the College. The College’s financial health is strong, and we have a responsibility to ensure it remains strong well into the future through proper financial stewardship and appropriate investments in our students, faculty, and staff.

Upon the recommendation of the Finance Committee, the Board approved the revenue budget for the 2020-21 academic year. 

The Academic Affairs Committee recommended—and the Board enthusiastically supported—the promotion of 11 faculty members. Details will be announced at this Friday’s Faculty Meeting, with a posting on the College website to follow.

The Finance Committee received a progress report from the Faculty Compensation Committee. For the past two years, this committee of faculty, Managers, and senior administrators has worked to look at how we and our peers set faculty salaries. They have achieved agreement on several key principles and are working to develop a model that incorporates those principles over time.

College Advancement provided an update on the Changing Lives, Changing the World campaign, which ends June 30 of this year. Thanks to the generosity of our alumni and donor community, we are making good progress on our goals and look forward to celebrating our successes next fall.

The Board enjoyed lunch with members of the Student Government Organization (SGO) on Friday. We thank Kat Capossela ’21 and Akshay Srinivasan ’21 for conceiving of this opportunity for the Board and SGO to learn more about each other and our work in support of the College. Later in the day, members of the Board attended the panel discussion with the co-authors of Seven Sisters and a Brother—learning about a critically important chapter in Swarthmore’s history. That evening, many of us also attended the Beyond the Field: Activism, Athletics, and Empowerment in the Modern Political Era conversation moderated by Professor Nina Johnson. Saturday evening, 18 faculty members and 13 Managers enjoyed dinner at Salem Shuchman’s home—the fifth such dinner in the last two years.

Sincerely,
Valerie Smith, President
Salem Shuchman ’84, Chair, Board of Managers

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