Ohio State University's Board of Trustees discuss affordability, sustainability goals and lagging fundraising.
At its final meeting of the semester, Ohio State University's Board of Trustees approved a state-mandated report on affordability and efficiency, and discussed the university's progress on its sustainability goals and lagging fundraising numbers.
Michael Papadakis, CFO and senior vice president of business and finance for Ohio State, highlighted a number of affordability measures the university has undertaken during the board's Finance & Investments Committee, including: Papadakis reported that fewer Ohio State undergraduates are graduating with debt. In fiscal year 2021, 46% of Ohio State's bachelor's degree recipients graduated with debt, and the average debt totaled $26,772. By comparison, 58% of bachelor's degree graduates in the class of 2017 had debt averaging a total $28,158.
It's still early in the fiscal year to predict exactly what fundraising efforts will look like in the coming months, but Eicher said that November and December will be crucial.Since 2015, Ohio State has reduced carbon emissions by 30% from a baseline of 615,051 metric tons, Jay Kasey, senior vice president of the Office of Administration and Planning, told trustees at the Master Planning & Facilities Committee.
That's because the university is waiting on a delivery of several electric vehicles to replace older cars in its fleet, Kasey said. About 18% of university vehicles are now electric, hybrid or use compressed natural gas. Funds generated from the fee will go toward ongoing deferred maintenance projects to extend the life of the stadium, including restroom upgrades, concrete repair and sealing, and field-level surface repair and replacement.
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