Trustees Set Budget for 2013-2014 School Year

Hailing from as close as Boston and as far as Hong Kong, PEA’s 19 trustees finalized the $91 million 2013-14 school year’s operating budget during their spring meeting last week and discussed the divestment petitions brought forth by the Environmental Action Committee.In response to the concerns that the Academy’s investments help fund fossil fuel companies, the trustees released an official statement May 18. Although no decisions were made, the trustees promised a re-evaluation of the issue at the October 2013 meetings that would follow several open forums with the Academy community.In terms of the normal operations of the school, an important agenda item brought up at the trustee meetings was the $91 million 2013-14 school year budget. Trustee Tony Downer ’75, who serves as the Budget and Finance chair, along with Chief Financial Officer Chris Wejchert, led discussions and presentations on the next school year’s budget and spending cap.In addition to the budget, a summary of all current and foreseeable renovations on campus was presented. Director of Facilities Management Roger Wakeman gave updates on Webster Hall, the quad space between Wetherell Dining Hall and Phillips Hall, Williams House, Elm Street Dining Hall and the Lamont Health and Wellness Center. Wakeman also forecasted summer 2014 construction that will further Webster Hall’s interior renovations, along with more work to Elm Street Dining Hall.Although much of the discussion in these meetings focused on what has been happening on campus, there was some emphasis on the Academy and its alumni in the broader global world. On Thursday, the trustees focused their attention on the alumni community and the fundraising efforts by them. Director of Institutional Advancement Ted Probert announced changes to the Exeter Fund, an ongoing program to increase annual participation of donations in the Academy’s alums.In addition, Dean of Faculty Ron Kim addressed the trustees on Friday regarding faculty recruitment from around the world. In addition, the new Dissertation Year program was introduced, a measure to bring distinguished doctoral students from around the world to Exeter to provide them with the necessary resources to draft their dissertations.Other than the usual agenda items, some members of the community were also pleasantly surprised by the recognition they received by the trustees.Two retiring trustees, Alan Jones ’72 and Rob Silverman ’76, were honored at a dinner on Thursday evening. In addition, Director of Communications Julie Quinn was honored for her 17 years of service at the Academy with a citation read aloud by the trustees.The trustees will be back on campus to kick off the 2013-2014 school year with their fall 2013 meeting, scheduled to happen in October.