SMC trustees OK investments
By SARAH RYKOWSKI
Saint Mary's News Editor
The Saint Mary's Board of Trustees met Saturday to approve an investment policy and next year's budget, to receive updates on the Master Plan, strategic planning and Student Life and to discuss several important purchases for the College.
The board approved an Investment Committee policy which establishes a range for the College's endowment fund, clarifies Saint Mary's social responsibility and declares that the College will not invest in organizations that deal with nuclear weapons, weapons production or tobacco products, according to Keith Dennis, vice president for Finance and Administration.
Dennis also presented the results of the Investment Committee's search for a "small cap" investment manager and reported the progress Saint Mary's has made in the construction of a shipping and receiving center.
"We approved funds for purchasing a parcel of land that is north of the Facilities Building as part of the project for a shipping and receiving center," Dennis said. "It will have two loading docks, one for semis and one for delivery trucks, to minimize delivery-pedestrian traffic on campus."
The next phase of the Master Plan also calls for the construction of a student activities center and the renovation of Madeleva Hall. Designs are being constructed as space is allocated and organized, but plans will not be finalized until funding is established, Dennis said.
As part of usual events in this late-year Trustees meeting, the Trustees also approved next year's operating and capital budgets. Saint Mary's will use the capital funds to purchase equipment to renovate Regina Hall and repair the exterior of Haggar Student Center.
They will also buy a spectrometer for the chemistry department and new chairs for O'Laughlin Auditorium. Trustees voted to continue purchasing new computers for the student labs and recycling the older ones to the faculty and administration offices.
Also, Linda Timm, vice president of Student Affairs, presented a report on Student Life at Saint Mary's. Molly Kahn, the new Student Trustee, was introduced, and Trustees approved the list of graduates.
Members also held Executive Board elections, re-electing current chairman William J. Schmuhl, Jr., and Sister Joan Marie Steadman, vice chair and a 1967 alumna.
Barb Hamel, a 1979 graduate, was elected treasurer. Hamel is a senior vice president of the Bank of America in Chicago.
All News Stories for Monday, May 1, 2000
