A meeting of the Finance Committee of the Board of Trustees convened at 9:09 a.m. on Friday, February 9, 2018, in Room 326 of Stewart Center on the campus of Purdue University in West Lafayette, Indiana.

All committee members were present: Don Thompson, chair; Sonny Beck; Vanessa Castagna; and Michael Klipsch. All other trustees were present: Michael Berghoff; JoAnn Brouillette; Malcolm DeKryger; Gary Lehman; Daniel Romary; and Thomas Spurgeon.

Officers and administrators in attendance were: Mitch Daniels, president; Jay Akridge, provost and executive vice president for academic affairs and diversity; Bill Sullivan, treasurer and chief financial officer; Jim Almond, senior vice president and assistant treasurer; Steve Schultz, legal counsel; Trent Klingerman, assistant legal counsel and chief privacy officer; Janice Indrutz, corporate secretary and executive assistant to the Board; Ronald Elsenbaumer, chancellor of Purdue University Fort Wayne (PFW); and Tom Keon, chancellor of Purdue University Northwest (PNW).

I. APPROVAL OF MINUTES

Upon proper motion duly made and seconded, the Committee voted unanimously to approve the minutes of its meeting convened on December 8, 2017.

II. APPROVAL OF CONTRACT IN EXCESS OF $2,000,000

Dr. Gerry McCartney, executive vice president and chief information officer, requested approval of a three-year contract extension with Ellucian Support, Inc. for ongoing maintenance support of the “Banner” Student Information System. He explained that Banner was used system-wide for core administrative processes such as registration, enrollment, financial aid, accounts receivable, course management, degree audit, program planning, and graduation, and he said it was a necessary business expense. Vice President McCartney also informed the Committee that, although diligent efforts to negotiate a one-year extension were unsuccessful, the standard 6% annual increase was successfully negotiated down to only 3%.

In response to a question from Trustee Klipsch, Vice President McCartney said that alternatives to Banner were being sought, but the market was limited. Trustee Thompson observed that Banner was very comprehensive and expressed concern for how the potential failure of one component could affect other components, but Vice President McCartney assured him that Banner was a very reliable product. In response to a question from Chairman Berghoff, Vice President McCartney outlined that the cost for the three-year extension was $4,503,647 and included the West Lafayette, Fort Wayne, and Northwest campuses.

Upon proper motion duly made and seconded, the Finance Committee voted unanimously to recommend full Board approval to extend the contract with Ellucian. A supporting document was filed with the minutes.

III. ADJOURNMENT

By consent, the meeting adjourned at 9:14 a.m.