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Trent University Board of Governors Approves Annual Objectives and Key Initiatives

Trent University’s Board of Governors met in Peterborough on December 5, 2014 for the second of its regularly-scheduled meetings for 2014-15. In addition to approving Board objectives for the year reflecting priorities for fiscal stewardship, philanthropy, university outreach and partnership initiatives, the Board also considered several key items of business.

President's Update

President Leo Groarke reported on highlights from his first five months in office, including very successful Trent 50th Anniversary events, consultations with provincial and municipal government officials, and outreach to the Trent, Peterborough and Durham communities.  The Board applauded the president for his work to date forging relationships and advancing initiatives on Trent's behalf.

Student Centre

The Board reviewed a progress report on planning for the new Student Centre. On the recommendation of the Finance & Property Committee and in view of funding commitments for the project (both confirmed and projected), the Board approved proceeding with a Request for Proposal (RFP) to engage an architect. The Board anticipates holding a special meeting near the end of February 2015 to review the outcome of the RFP process and to award the architect contract to the successful proponent.

Enterprise Risk Management

In its role of overseeing the Enterprise Risk Management (ERM) processes at the University, the Board reviewed a semi-annual report from senior administration on the top ten risks facing Trent and the mitigation strategies in place to address these risks. The report reflects Trent's systematic approach to risk management that also works to leverage opportunities and anticipate and respond to changing social, environmental and legislative requirements.

Pension Plan Audited Financial Statements

On the recommendation of the Audit Committee, the Board approved the audited financial statements for the faculty and staff pension plans for the year ended June 30, 2014, and received for information the audited financial statement for the Supplemental Retirement Arrangement (SRA) also for the year ended June 30, 2014. The Board noted that clean audit opinions were received from the external auditor for all three plans.

In a related item of business, the Board also approved the appointment of governor Robin Quantick to the Board's Investment & Pension Committee to add to the strength of that committee.

Next meeting

The Board will meet next on January 30, 2015. The Board of Governors extends its best wishes to all for a joyous holiday season.

Posted on Monday, December 15, 2014.

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