Trent University’s Board of Governors held its first regular meeting of the academic year on October 13, 2023, at the Symons campus in Peterborough.  

The Board heard highlights on Trent’s ranking as the top undergraduate university in Ontario for the thirteenth consecutive year in the 2024 Maclean’s University Rankings as well as events held at both campuses in recognition of National Day for Truth and Reconciliation. News was shared that the University has surpassed the halfway point in its $100 million Campaign for Momentous Change. News of the $50 million milestone coincided with a visit by recipients of the Board of Governors’ Leadership Scholarship, who thanked current Board members for their philanthropic support of students.  

2022/2023 Audited Financial Statements  

The Board of Governors reviewed and approved the audited financial statements for fiscal year 2022/23, noting that the financial statements present fairly, in all material respects, the financial position of the University as of April 30, 2023. After $21.2 million in net appropriations for strategic initiatives and $0.7 million in contributions to endowments, the Operating Fund ended the fiscal year with a nominal surplus of $0.4 million before fair value and pension actuarial adjustments. 

Capital Projects Update

The Board received a report on the status of Capital Projects at the University, including information on the province of Ontario’s Facilities Renewal Program (FRP) funding. The University’s primary focus for this season’s capital projects will be on reducing carbon footprint and making systems more efficient. Highlights of current large-scale projects at Trent include the Riverside Stabilization Project, the Advanced Learning Centre at Trent University Durham’s 11 Simcoe Street location, Allan Marshall Pool Reconstruction slated for completion later this fall, and the new Bloomberg Lab, soon to be opened at the Enwayaang Gzowski College on the east bank as part of the University’s Business program. 

Presentation of Utility Scale Energy Project

The Board received a report on a proposal to lease a portion of Trent lands to host a battery energy storage facility on the Symons campus. As part of the University’s commitment to sustainability and the environment, the proposed project could significantly reduce the province’s carbon emissions while helping meet the power needs of Ontario. Ameresco and Atura Power are the proponents working to bring this project to reality on land leased from Trent University. 

Next steps include engaging with the community, securing a resolution from the municipality, and negotiating a final land lease towards the planned submission of this project to the IESO by December 12, 2023. In supporting the initiative, the Board noted that The North-End Peterborough Storage project aligns with Trent’s reputation as a world-leading environmental university, its focus on campus sustainability, and efforts to reduce its overall carbon footprint. It will also help manage the increasing costs of electricity and energy for the campus. The project goals align with the guiding principles of the Trent Lands and Nature Areas Plan and the system would increase Ontario’s electricity storage and support grid reliability. More information, including the dates of campus information booths and public information session, is available at trentlands.ca/projects/bess 

Information Technology Strategic Plan

The Board was presented with Trent’s IT Pan-University Strategic Plan. This fall, Trent Information Technology launched the new five-year Strategic Plan, in alignment with the University's objectives, informed and validated by the Trent community. Comprising three strategic drivers: "Empowered IT Team,” "Seamless Technology and Process," and "Engaged Trent Community", the plan includes twenty objectives and will adapt IT services to the evolving needs of the Trent community, ultimately contributing to the University's overall success. 

Food Services Request for Proposals

The University’s existing agreement for Food Services Management with Chartwells ends on April 26, 2024. Under Provincial regulations, the University is required to issue a Request for Proposals (RFP) to the marketplace. The University will move forward with a Negotiable RFP process and has engaged fsStrategy, a food service consulting firm, to assist with the project. Trent will accept proposal submissions on November 15, 2023.