The Board met in person on March 9, 2023. Minutes from the meeting will be posted on the Board of Governors website once available. The following are the highlights from the meeting:
Draft Campus Master Plan
Following an initial consultation, in which over 1,000 people participated, Brook McIlroy developed a first draft of the Campus Master Plan, which was posted to the Campus Master Plan website from Jan. 9 to Feb. 3 to offer all members of the campus an opportunity to provide feedback.
New elements of the plan include a Green Ribbon and Geological Time Trail, Flexible Campus Streets, Campus Gateways and Pedestrian Network, Tunnel Improvements and Expansions, Restoration of Riparian Habitats and Storm Water Management, as well as Potential Building Enhancements and Developments. A final version of the Campus Master Plan will be presented for approval at the April 2023 Board of Governors meeting.
New Student Residence Update
To mitigate cost increases in the market, notably labor and materials costs, Carleton has been working with consultants to review the construction methods and materials for potential savings, along with opportunities for value engineering. The Board approved the projected construction costs for the new student residence at $98 million plus a recommended contingency of $8 million, if required. These costs will be covered over time by the revenues of the residence precinct. The current project schedule indicates April 2025 for the building occupancy.
2023/2024 Ancillary Budget
The Board approved the university’s ancillary budget for 2023-24. The proposed budget outlines projections of expected revenues and anticipated costs and details rates and fees where applicable. It also includes a plan for deferred maintenance and capital projects for the year. Following more difficult years due to the pandemic, the ancillary portfolio is expected to end the 2023/24 fiscal year with a small operating surplus.
CU Research Update
The Board received an update on the growing scope and impact of Carleton’s research portfolio, with highlights on researcher achievements, new partnerships, and increases in both public and industry investments. In the past year alone, Carleton researchers have garnered a record $97.4 million in funding.
Building on this momentum, key research priorities for the upcoming year will be on sustaining the increase in research productivity and external research funding, enhancing post-award support to researchers, building reputation; strengthening international activities; expanding community engagement, partnerships, and impact on society, supporting multidisciplinary collaboration, impact, and large strategic projects; and promoting Carleton’s core values across all activities.
Carleton University Pension Plan is Fully Funded
An actuarial valuation, prepared for the period ending June 30, 2022 by Mercer, the plan’s actuary, shows that the financial position of the Carleton University Retirement Plan has improved since the last valuation. At this time, the Plan is fully funded which means there are no special payments required of the university to fund a deficit for the next three years. The next actuarial valuation will be required by June 30, 2025.
President Bacon provided an update on recent activities and accomplishments that have taken place at Carleton since the December Board meeting. Please have a look at the full President’s Report.
Governor Spotlight: Linda Grussani, Alumni
Linda Grussani (Kitigan Zibi Anishinabeg/Italian ancestry) is a curator and art historian born and raised on Anishinàbe Akì in the Ottawa area. Linda has spent over two decades working to advance Indigenous people, culture and arts, as well as promoting positive structural change and advance Indigenous cultural diplomacy as a curator, arts administrator and academic. She is currently a doctoral candidate in the Cultural Studies program at Queen’s University.
Linda joined the Board of Governors in 2022 and will serve a two-year term ending on June 30, 2024. Learn more about Linda.
Next Meeting: April 24, 2023
The next Board of Governors meeting is scheduled for April 24, 2023. Open session meeting materials are posted one week in advance of each meeting. More information on items approved, as well as minutes from previous meetings, can be found on the Board of Governors website.
Greg Farrell, FCPA, FCA
Chair, Carleton University Board of Governors