The Tusculum College Board of Trustees approved the 2012-13 operating budget at their meeting on Friday, held in conjunction with Homecoming 2012.
The board gave approval to a $29 million budget for 2012-13, representing a 3.95 percent increase from the past academic year. The budget also includes a 3 percent tuition increase.
According to Tusculum President Dr. Nancy B. Moody, the proposed budget is based on projected enrollment for 2012-2013.
The proposed budget includes five new faculty positions. In the past year, the college has added 16 new full-time positions, said Moody.
"Tusculum College is in a sound fiscal position and in a period of significant growth," said Kenneth A. Bowman, chair of the board and an alumnus from the class of 1970.
"The board is confident in the direction laid out in our Vision 20/20 and Strategic Plan, and we are facing our future with a sense of excitement and anticipation," he added.
Of new funds in the 2012-13 budget, $280,000 plus additional grant funding was received for distance learning for technology. This is in addition to the $1.2 million approved by the Board of Trustees during the previous academic year.
The Board of Trustees also approved the allocation of a projected 2012 end-of-year surplus to go primarily toward academic programs, but also to support new initiatives.
Moody said funds have been used for a new computer lab for visual arts majors concentrating in graphic design; general upgrades to existing facilities; new furnishings for the distance learning room in the Niswonger Commons and the technology room in the Charles Oliver Grey Complex.
744 STUDENTS ON CAMPUS
Dr. Tom Stein, vice president of enrollment management, reported that 744 students are currently residing on campus, which is more than 100 percent capacity.
In addition, he reported total fall enrollment for full-time students at 2,199, including 944 in the residential program and 1,255 in the Graduate and Professional Studies program.
The two new programs that enrolled students this fall also showed a strong start.
The first Master's in Business Administration cohort started at Knoxville in August with 25 students. The second cohort will begin in January in Greeneville.
In the new nursing program, 24 students were admitted into this year's program. In addition, five current freshmen have been admitted into the program for next fall.
These numbers are expected to grow, with 40 applications being considered for next fall's program and 108 additional inquiries.
Dr. Melinda Dukes, vice president for academic affairs, reported that 12 new faculty members joined the college this fall in the departments of English, computer science, management, psychology, fine arts, nursing and physical education.
The BS and RN to BSN degree program in Nursing has received full approval from the Southern Association of Colleges and Schools Commission on College.
From Institutional Advancement, Heather Patchett, vice president, reported that last fiscal year, $661,167 was raised for the Tusculum Fund, which was $55,000 more than the previous year.
In addition, in June, the college received a gift commitment of $3.875 million from Verna June Meen to name the new Center for Science and Math.
'HELP ME HELP YOU'
A report was presented by Luis Zamora, a senior business management major from Santiago, Chile.
Zamora reported on the student-led "Help Me Help You" local business program and the launch of the Center for Economic Development and Entrepreneurship.
The mission of the Center for Economic Development and Entrepreneurship (CEDE) is to create sustained, long-term, coordinated planning strategies and programs that can help create, apply and distribute valued knowledge by empowering students, business owners and community members to achieve sustainable prosperity and economic development in the region.
According to Dr. Antonio Bos, professor of business administration and faculty sponsor of the programs, participants have access to experts in personal finance and the opportunity to attend programs that address areas of revenue and expenditures in concrete terms.
In other action the board approved the awarding of diplomas to 337 graduates, pending successful completion of fall course work and faculty approval, for the Saturday, Dec. 15, commencement ceremonies.
Board of Trustees officers for the new year were elected. Officers elected include: Chair, Bowman; Vice Chair, Edward J. Kormondy; Treasurer, Dwight Ferguson, and Secretary, Mark R. Williams.
Bowman, of Apollo, Pa., has been a member of the board since 1998 and chairman since 2006.
"I am happy to be serving my alma mater as Chairman of the Board of Trustees," said Bowman. "It is an honor to serve, and I look forward to leading the institution in the year to come."
Kormondy, of Los Angeles, is a member of Tusculum's Class of 1950, and chancellor emeritus of the University of Hawaii-Hilo in West Oahu. He has been a member of the board since 1998.
Ferguson joined the board in 2009. He is retired from Nuclear Fuel Services, Inc., in Erwin, where he served as president and chief executive officer from March 1992 until January 2009.
Williams, of Greeneville, joined the board in 2001. He is a broker with Century 21 Legacy.
Two trustees whose terms are ending were recognized, James W. "Bill" Hickerson and Hugh O. Jaynes, an alumnus from the class of 1952. Both have 18 years of service on the board.
Also recognized for her service to the board was Eleanor Tom Jaynes, an alumna from the class of 1951, who is retiring after serving as alumni advisor to the Board of Trustees for the past 17 years.
The three were presented resolutions from the Board of Trustees and were recognized for their dedicated service and their faithfulness to the college since 1995.
The next meeting of the Tusculum College Board of Trustees is set for Feb. 8-9, 2013.