The first regular meeting of the academic year for Trent University’s Board of Governors took place on Friday, October 5, 2018.
Audited Financial Statements
The Board reviewed and approved the audited financial statements for fiscal year 2017/18, and noted that the financial statements present fairly, in all material respects, the financial position of the University as at April 30, 2018.The Operating Fund ended the fiscal year with an excess of revenue over expense of $2.2 million after net appropriations of $8.5 million for strategic initiatives and transferring $5.6 million to endowments. The significant growth in enrolment is the main contributing factor for the positive financial results. The cumulative fund balance at April 30, 2018 is $4.9 million.
Food Services Contract Extended with Chartwells Dining Services
The Board of Governors approved the extension of the food services contract with Compass Group Canada (operating as Chartwells Dining Services) for an additional five-year term commencing May 1, 2019. Chartwells began operations at Trent in 2014 under a contract structured for a ten-year term, with an option for the parties to exercise a renewal after five years. This five-year extension (2019 – 2024), is consistent with the intent of the original contract. Chartwells is one of nine food service providers on Trent’s campuses.
Trent Lands Plan – Engagement Process
The Board heard from the Endowment Lands Committee regarding the 2018 update to the Trent Lands Plan. The new Trent Lands Plan will integrate and update the 2002 Nature Areas Plan, the 2006 Endowment Lands Master Plan, and the 2013 Trent Lands Plan to provide focus for stewardship of the Nature Areas, as well as a road map for future land uses and campus developments. Transparent public engagement and proactive communications will be a key focus to inform stakeholders of the plans and provide opportunities for them to have input. The Plan update will be conducted in two phases over a two-year period.
About Trent University
One of Canada's top universities, Trent University was founded on the ideal of interactive learning that's personal, purposeful and transformative. Consistently recognized nationally for leadership in teaching, research and student satisfaction, Trent attracts excellent students from across the country and around the world. Here, undergraduate and graduate students connect and collaborate with faculty, staff and their peers through diverse communities that span residential colleges, classrooms, disciplines, hands-on research, co-curricular and community-based activities. Across all disciplines, Trent brings critical, integrative thinking to life every day. Today, Trent's unique approach to personal development through supportive, collaborative community engagement is in more demand than ever. Students lead the way by co-creating experiences rooted in dialogue, diverse perspectives and collaboration. In a learning environment that builds life-long passion for inclusion, leadership and social change, Trent's students, alumni, faculty and staff are engaged global citizens who are catalysts in developing sustainable solutions to complex issues. Trent's Peterborough campus boasts award-winning architecture in a breathtaking natural setting on the banks of the Otonabee River, just 90 minutes from downtown Toronto, while Trent University Durham Greater Toronto Area, delivers a distinct mix of programming in the east GTA.
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