Board of Trustees Approves Financial Report

The Arkansas Tech University Board of Trustees approved the institution’s 2008-09 financial report on Thursday during its regular monthly meeting at the Ross Pendergraft Library and Technology Center.  The report shows that the university’s total net assets increased from $67.3 million at the close of the 2007-08 fiscal year to $76.2 million at the end of the 2008-09 fiscal year.

In other business on Thursday, the Arkansas Tech Board of Trustees approved: *an advance of $300,000 from university cash funds to complete funding of construction at Centenary Hall; the advance will be repaid to university funds by annual installments of $100,000 over the next three years as part of a grant from the Roy and Christine Sturgis Charitable and Educational Trust; *letters of intent to designate the Center for Leadership and Learning at Lake Point Conference Center and Morton Hall as off-campus instructional centers as defined by the Arkansas Department of Higher Education and The Higher Learning Commission; *a proposal outlining the rationale and initial curriculum for a new Arkansas Tech University Degree Center on the Mid-South Community College campus in West Memphis; *a promotion policy for professional librarians that will be included as part of the Arkansas Tech Faculty Handbook; *a request to begin the architect selection process for the renovation of the Alvin F. Vest Student Union at Arkansas Tech-Ozark Campus; *and new course fees of between $3 and $15 for certain emergency medical technician/paramedic courses offered by Arkansas Tech-Ozark Campus to cover costs associated with student certification in specialized areas by the American Heart Association.