A meeting of the Finance Committee of the Board of Trustees convened at 9:48 a.m. on Friday, October 7, 2022, in Room 326 of Stewart Center on the campus of Purdue University in West Lafayette, Indiana.

Committee members present: Mike Klipsch, Chair; Sonny Beck; Malcolm DeKryger; and Shawn Taylor. All other trustees were present: Michael Berghoff; JoAnn Brouillette; Vanessa Castagna; Theresa Carter; Mark Gee; and Gary Lehman.

Officers and administrators in attendance were: Mitch Daniels, president; Jay Akridge, provost and executive vice president for academic affairs and diversity; Chris Ruhl, chief financial officer and treasurer; Eva Nodine, senior vice president, assistant treasurer, and assistant secretary; Steve Schultz, general counsel; Cindy Ream, corporate secretary and senior executive assistant to the Board; Ron Elsenbaumer, chancellor, Purdue University Fort Wayne; and Tom Keon, chancellor, Purdue University Northwest.

I. APPROVAL OF MINUTES

Upon proper motion duly made and seconded, the Finance Committee voted unanimously to approve the minutes of its meeting convened on July 29, 2022 and August 5, 2022.

II. APPROVAL OF 2023-2025 BUDGET ANIMAL DISEASE DIAGNOSTIC LABORATORY STATE LINE ITEM*

Eva Nodine, senior vice president, assistant treasurer, and assistant secretary respectfully requested approval of the 2023-2025 legislative line-item budget requests. She provided a reminder that Purdue operates the animal disease and diagnostic laboratory on behalf of the State Board of Animal Health for the State of Indiana. She noted that this is a service Purdue provides for the state and we submit a biennial request to the state of Indiana for any increases needed on the state line item for that facility. She noted a recommendation of an increase to the recurring $3.7 million to $5.1 million as follows: 3.0% increase for staff wages; $1,000,000.00 (with $100,000.00 for service agreement) for a new Laboratory Information Management System (LIMS); six new FTE’s to address caseload growth, growing demand for testing, and to avoid the risk of delays and interruption in service. An additional part of the request this year is $10 million capital improvement for biosecurity and safety concerns that they have inside of that, this would be a one-time request. Upon proper motion duly made and seconded, the Finance Committee voted unanimously to recommend full Board approval of the 2023-2025 line item budget request. Supporting documents were filed with the minutes.

III. APPROVAL OF HOUSING/DINING RATES*

Eva Nodine, senior vice president, assistant treasurer, and assistant secretary shared that all campuses have focused on student affordability, even in room and board. She started with the West Lafayette campus, noting no increase for the 11th year in a row and room and board. Purdue University Fort Wayne will have a small increase, $200.00 per bed for the next fiscal year. She stated that this is only their 4th increase at the Fort Wayne campus in the last 11 years. Ms. Nodine shared that Purdue Northwest will have a 3.5% increase, equating to about $209.00 - $243.00 dollar bed increase depending on their department and their residence room. They have only had four increases in the last 11 years as well. Upon proper motion duly made and seconded, the Finance Committee voted unanimously to recommend full Board approval of the proposed 2023-2024 student housing rates at the three campuses. Supporting materials were filed with the minutes.

IV. ADJOURNMENT

By consent, the meeting adjourned at 9:59 a.m.