board of governors - trent university · the presentation included schematics for the bata library...

BOARD OF GOVERNORS

Meeting Friday, April 7, 2017

Trent Durham Campus, 55 Thornton Road South, Oshawa

Front Atrium

OPEN SESSION: 1:00 p.m. – 3:00 p.m.

AGENDA

1. Welcome and Adoption of Agenda S. Kylie, Acting Chair Declaration of Conflicts of Interest (if any)

2. Consent Agenda S. Kylie

2.1. Approval of MinutesOpen Session, February 3, 2017 (for approval) (pg. 3)

2.2. Financial Update Report (for information) (pg. 7)

2.3. Capital Projects Update Report (for information)

2.4. Annual Report on Status of Endowment Lands Fund Report (for information) (pg. 21)

2.5. Investment Performance Summary – Q4 Report (for information) (pg. 25)

3. Chair’s Remarks S. Kylie

4. G. Cubitt / J. Davis / L. Hays / J. Grover Alumni Strategic Plan Presentation (for information) (pg. 36)

5. President’s Report L. Groarke

5.1. Enrolment Update5.2. Report of the Special Committee on Indigenous Education5.3. Trent Research and Innovation Park – Progress Update (N. Emery)

6. Presentation on Trent Durham Initiatives L. Groarke / J. Muldoon

(pg. 14)

BOARD OPEN SESSION - April 7, 2017 of 51

7. Governance

7.1. Revisions to Special Resolution IV.3 – Conflict of Interest L. Edwards Report, Revised Draft Policy & Recommendation (for discussion/approval) (pg. 41)

Draft motion: That the Board of Governors approve revisions to Special Resolution IV.3 – Board of Governors Conflict of Interest or Duty, as presented.

8. Meeting Adjournment S. Kylie


of 4

BOARD OF GOVERNORS

MINUTES OF THE MEETING – OPEN SESSION Peterborough, February 3, 2017

1. Welcome and Adoption of Agenda. The Chair called the open session of the meeting to

order at 1:34 p.m.

Hearing no amendments to the agenda and no declarations of conflict of interest made, the agenda was approved as presented.

2. Consent Agenda. It was moved/seconded (La Barge/Cubitt),

That the consent agenda be approved as presented. Carried.

2.1. Approval of Minutes. The Open Session minutes of December 2, 2016 was approved

as presented. 2.2. Financial Update. Received as information. 2.3. Capital Projects Update. Received as information.

3. Chair’s Remarks. The Chair welcomed guests to the Open Session of the meeting. Guests

included Alaine Spiwak (President, Trent Central Student Association), Jess Grover

Governors Present Regrets Governors Present RegretsRod Taylor, Chair Leslie Kerr Stephen Kylie, Vice-Chair Armand La Barge Ken Armstrong Ian Lord Rathika Balthasar Thomas Miller Connie Bonello Rosalind Morrow Garry Cubitt Michael O’Connor Peter Dilworth Mary-Jane Pilgrim Loretta Durst Rhonda Smith Lucie Edwards Hilary Stafford Sue Graham Parker Andrew Stewart Leo Groarke, President Don Tapscott, Chancellor Robyn Jacobson Murad Younis

Total Governor Attendance: 23 1

Administration Present Julie Davis, Vice-President, External Relations & Advancement Neil Emery, Vice-President, Research & Innovation Jacqueline Muldoon, Provost & VP Academic Steven Pillar, Vice-President, Finance & Administration Karen Spearing, University Secretary Richelle Hall, Recording Secretary Cheryl Turk, Associate Vice-President, Finance Marilyn Burns, Associate Vice-President, Marketing & Recruitment Kent Stringham, Associate Vice-President, Facilities Management Stephanie Williams, Associate Vice-President, Human Resources


Board of Governors – Open Session Minutes Page 2 of 4

(President, Trent University Alumni Association), Lee Hays (Director, Alumni Affairs), Robert Clarke (University Librarian), Robert Ballarin (Project Manager, Facilities Management), Victoria Kacer (Sustainable Trent) and Emily Morgan (Sustainable Trent). The Chair welcomed newly appointed governor Scott Sinclair, noting that Mr. Sinclair is a Trent alumni and has previously sat on the Finance and Property Committee as an external member. The Chair acknowledged the recent passing of former Governor and Trent alumni, Bob Lightbody, and paid tribute to Mr. Lightbody’s significant contributions to both Trent University and the Trent University Alumni Association. The Chair reflected on the luncheon with student leaders which took place that afternoon, stating the importance of the Board connecting with students on matters of student life and engagement on the Peterborough and Durham campuses.

4. President’s Report. President Groarke also acknowledged the passing of Bob Lightbody,

and provided a brief overview of Mr. Lightbody’s dedication of time and resources in support of Trent University, including the 50th anniversary celebrations.

In the wake of the Quebec Mosque shooting, President Groarke reported that he has had conversations with the Trent Muslim Students’ Association. The flag atop Bata Library has been lowered to half-mast and an interfaith prayer and solidarity service has been scheduled for February 6. President Groarke reported on recent events and developments on campus, including: Partnerships. Trent University has signed a new articulation agreement with Sault College, admitting graduates of the Anishinaabemowin certificate program to Trent’s new Indigenous Bachelor of Education program with advanced standing, allowing students to earn both a certificate and degree in just five years. Announcements.

Four Trent Researchers (Drs. James Conolly, Jennine Hurl-Eamon, Winnie Lem, and Lisa Janz) have received over $500,000 in Social Sciences and Humanities Research Council (SSHRC) funding for their individual research projects.

Faculty, staff and retirees at Trent University surpassed the University’s highest-ever fundraising target, of $75,000, for the annual United Way campaign by raising $77,000.

Events.

The 2017 Ashley Fellow Lecture Series, hosted by Dr. Stevi Jackson, is running from January 25, 2017 till February 15, 2017 at Lady Eaton College.

A lecture by Aaju Peter, the 2017 Jack Matthews Fellow, took place February 1, 2017 at the Canadian Canoe Museum.

5. Trent Research and Innovation Park (TRIP) Master Plan. Vice-President Emery reported

on consultation activities relating to the Trent Research and Innovation Park and the draft TRIP master plan specifically. It was noted that the public consultation session on December 7 was well attended, and feedback included concerns relating to traffic, parking, tree clearing and the environmental impact of the TRIP infrastructure. VP Emery noted that the draft master plan will inform the plan of subdivision, as the City needs to confirm the layout of infrastructure and



services that will ensure that the park is build-ready in anticipation of potential tenants over the coming year.

Malcolm Hunt presented an overview of the draft master plan, including key design principles for the Trent Research and Innovation Park. The six key design principles included: 1) integration with the campus; 2) foster an innovation community culture; 3) sustainable design; 4) landscape-led design strategy; 5) flexible to accommodate a range of enterprises and uses; and 6) well connected to the City and region. Mr. Hunt noted that the City is looking at turning Pioneer Road into a larger thoroughfare over the longer term to accommodate the extra traffic created by TRIP and the new arena. Ms. Victoria Kacer representing the Sustainable Trent student coalition, highlighted the negative implications of fragmentation on those endowment lands associated with TRIP, including significant impact for endangered species and wetlands in the area. Mr. Hunt reported on the environmental assessment process which includes a species at risk analysis, noting that this process will be part of the plan of subdivision. It was suggested that the concerns related to endangered species would be captured in that analysis. Vice-President Davis, in responding to student concerns regarding communications related to this initiative, noted that a webpage has been created on the Trent website that provides an overview of TRIP and other projects related to the Trent Lands Plan. This webpage also serves as a vehicle for communication and feedback on issues arising out of this process. Following detailed discussion and feedback, the Board discussed the appropriate process to move this initiative forward, being respectful of the concerns and issues as raised. It was moved/seconded (Kylie/Lord),

That the Board of Governors endorse the six core principles, site and building design guidelines, sustainability targets, and general plan layout (including road configuration) as set out in the preliminary draft of the City of Peterborough TRIP Master Plan as presented, subject to a commitment that the on-going planning process include identification of treatment of species at risk. Carried

6. Bata Research and Innovation Cluster (BRIC). Dr. Robert Clarke, Chief Librarian, provided

an overview of the various logistical aspects of the Bata Research and Innovation Cluster (BRIC) project. The presentation included schematics for the Bata Library following the renovations, details on the temporary location of library materials, an inventory of displaced student spaces, plans for accessing materials during the Bata Library closure and details on how the project is being communicated.

7. Financial Oversight

7.1. 2017-18 Operating Budget – Status Update. VP Pillar provided an overview of the

2017-18 operating budget planning process, and noted that PVP will be meeting with budget developers over the coming week to review the various budget proposals. It is anticipated that the draft 2017-18 operating budget will be presented to the Board of Governors, through the Finance and Property Committee, on May 12, 2017 for final approval.



7.2. Student Centre – Status Update. Vice-President Pillar provided a brief update on the student centre project, noting that while it is slightly behind schedule at this time, the general contractor remains committed to the full occupancy target date of July 31, 2017. VP Pillar was asked to report out to the Finance and Property Committee at its next meeting regarding how the configuration of space within the student centre will be impacted by the BRIC project.

7.3. Revisions to Student (Peterborough) Ancillary Fee Protocol. Provost Muldoon

presented the draft revisions to the Non-Tuition-Related Compulsory Ancillary Fee Protocol for Peterborough. Provost Muldoon reported that the major updates to the protocol included: simplifying and standardizing the automatic increases to the level of the Canadian Price Index or 3%, whichever is less; requiring that any increases above 20% require a student referendum; updating the student voting representatives to remove the Trent Part-Time Student association (which merged with the TCSA) and to add a member from the Traill Cabinet; and separating out housing/food services as they are non-compulsory and are voted on by the constituents who pay the fees. It was moved/seconded (Kylie/Dilworth),

That the Board of Governors approve the revised Peterborough Non-Tuition Related Compulsory Ancillary Fee Protocol as presented. Carried

8. Alumni Strategic Plan – Status Update. [deferred to next meeting due to time constraints] 9. Session Adjournment. The open session of the meeting was adjourned at 3:10 p.m. to return

to Closed/Restricted Session.

10. Meeting Adjournment. The meeting was adjourned at 3:43 p.m. Karen Spearing Rod Taylor University Secretary Chair


BOARD OF GOVERNORS Report

To: Board of Governors Date of Report: March 9, 2017

From: Stephen Kylie – Chair, Finance & Property Committee Steven Pillar – VP Finance & Administration

Date of Committee Meeting:

March 9, 2017

Date of Board Meeting: April 7, 2017

Subject: Financial Update

Confidentiality: Not Confidential

1.0 PURPOSE

For Information 2.0 RECOMMENDATION That the Finance and Property Committee and the Board of Governors receive updated financial information. 3.0 EXECUTIVE SUMMARY An overview of Trent’s current financial position as of January 31, 2017 and projections to year-end are attached. Based on the February 1, 2017 final enrolment count, the annual surplus is projected to increase by $1.952M to $3.250M. This amount is sufficient to eliminate the accumulated deficit at the beginning of the fiscal year, leaving a projected accumulated surplus at April 30, 2017 of $1.726M. 4.0 INPUT FROM OTHER SOURCES Not applicable 5.0 ANALYSIS Cash flows are consistent with that of the previous years. Student tuition payments

changed this year to “Term Billing”. “Term Billing” splits our student tuition cash flow into two payments for the year. Cash on hand at January 31, 2017 was $38,484,965 compared to $36,681,168 on the same date in 2016.


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Based on the February 1, 2017 final enrolment count, undergraduate enrolment is 607 FTEs above the planned target of +322 FTEs. This variance results in an additional $2,253,000 in grant and tuition revenue (net of increased scholarships discussed below) from the 2016/17 Board-approved budget. This forecast has been adjusted from the projection of +624 FTEs based on the November 1st enrolment count; a difference of -17 FTEs or $200,000 less in net funding from last report.

At April 30, 2016, a reserve for unachieved revenue of $500,000 was established in the

event that 2016/2017 enrolment increases planned in the budget were not realized. As enrolment targets were exceeded, this reserve is no longer required and has been reversed in this revised projection.

Student aid funded by fees is projected to increase by $1,110,000 over the Board-approved budget. This increase is directly related to an increased utilization of scholarships from 1649 students and $3.8M in 2015/16 to a projected utilization of 2015 students and $4.8M in 2016/17. This is above any pattern observed in previous years and is attributed to students with higher entrance and renewable averages.

Based on the recently completed actuarial valuation, effective July 1, 2016 the

university employer contributions (normal cost) related to the TUFA pension plan will increase from 7.9% to 10.57%. This increase in employer contributions was not accounted for in this year’s budget and will result in an increase over budget of $740,000. This increase is reflected in total staff expense.

A number of additional positions have been approved this year to facilitate the increase

in enrolment. These positions will add an additional $60,000 in total staff expense.

6.0 FINANCIAL IMPLICATIONS To fulfill their responsibilities, Governors should be informed of the University’s financial situation. Regular financial updates such as these will maintain Governors’ awareness of the University’s current financial status and allow for input and oversight where needed.

7.0 ENTERPRISE RISK ASSESSMENT See 3.0 above. 8.0 STRATEGIC ALIGNMENT / COMPLIANCE Complying with a Board of Governors directive, the full Board will receive regular financial updates, in addition to a briefing at the Finance and Property Committee level.

8.0 COMMUNICATIONS STRATEGY Not applicable.


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Steven Pillar, Vice President, Finance and Administration Cheryl Turk, Associate Vice President, Finance


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-$15,000,000

-$12,500,000

-$10,000,000

-$7,500,000

-$5,000,000

-$2,500,000

$0

$2,500,000

$5,000,000

$7,500,000

$10,000,000

$12,500,000

$15,000,000

$17,500,000

$20,000,000

$22,500,000

$25,000,000

$27,500,000

$30,000,000

$32,500,000

$35,000,000

$37,500,000

$40,000,000

$42,500,000

$45,000,000

$47,500,000

MAY JUN JUL AUG SEP OCT NOV DEC JAN FEB MAR APR

TRENT UNIVERSITY CASH POSITION FOR 2013‐14 to 2016‐17for the period ending January 31st, 2017

Credit Line 2013/14 2014/15 2015/16 2016/17


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Projection 2015/16 Prior

Year

2016/17 BOARD-

APPROVED BUDGET

(June 2016)

2016/17 RESTATED BUDGET *

ANTICIPATED VARIANCES

AND BALANCING

ACTIONS

2016/17 PROJECTION

(January 2017)REVENUE

Government grants $53,426 $54,231 $54,266 $1,537 $55,803

Tuition fees 56,641 60,928 60,928 1,826 62,754Less: student aid funded by fees (7,289) (7,622) (7,562) (1,110) (8,672)Net tuition 49,352 53,306 53,366 716 54,082

Miscellaneous revenue 1,630 1,650 1,674 500 2,174TOTAL REVENUE $104,408 $109,187 $109,306 $2,753 $112,059

EXPENSES Instructional staff $57,342 $59,198 $59,079 $680 $59,759Non-instructional staff 34,892 36,153 36,274 121 36,395Total staff expense 92,234 95,351 95,353 801 96,154

Non-staff expense 18,125 19,831 19,957 0 19,957Expense before cost recoveries 110,359 115,182 115,310 801 116,111

Cost recoveries (7,656) (7,294) (7,302) 0 (7,302)TOTAL EXPENSE $102,703 $107,888 $108,008 $801 $108,809

EXCESS OF REVENUE OVER EXPENSE (EXPENSE OVER REVENUE) $1,705 $1,299 $1,298 $1,952 $3,250

Change in Investment in Capital Assets/Internally Restricted 1,000 0 0 0 0ANNUAL SURPLUS (DEFICIT) for University Operations $2,705 $1,299 $1,298 $1,952 $3,250

ACCUMULATED DEFICIT - BEGINNING OF YEAR ($1,524) ($1,524)Annual surplus (deficit) 1,298 1,952 3,250ACCUMULATED DEFICIT - END OF YEAR ($226) $1,952 $1,726

* Restated budget is the board-approved budget updated with offsetting revenues and expenses from deferred targeted grants (primarily derived fromdeferred revenue for items such as Aboriginal Education and Training initiatives).

TRENT UNIVERSITY2016-17 OPERATING BUDGET PROJECTION

($000s)As of January 31, 2017


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Operating Actual vs Budget FY2016/17

Year-to-date, Projection and Budget by Object (thousands of dollars)

Report date: January 31, 2017

Run date: February 21, 2017

YTD Budget Projection

Variance Variance

YTD YTD Favourable Restated Projection Favourable

Actual Budget (Unfavourable) Budget (Unfavourable)

REVENUE

Government grants 38,595 39,687 (1,092) 54,266 55,803 1,537

Tuition 63,439 63,439 0 60,928 62,754 1,826

less: student aid funded by fees

Undergrad (5,674) (5,674) 0 (5,798) (6,908) (1,110)

Grad (944) (480) (464) (823) (823) 0

International (986) (549) (437) (941) (941) 0

(7,604) (6,703) (902) (7,562) (8,672) (1,110)

Net tuition 55,834 56,736 (902) 53,366 54,082 716

Misc. 287 287 0 1,674 2,174 500

Total Revenue 94,716 96,710 (1,994) 109,306 112,059 2,753

EXPENSE

Salaries & Benefits

Instructional 39,454 40,458 1,004 59,079 59,759 (680)

Academic Support 7,275 6,395 (880) 8,504 8,550 (46)

Library 2,184 2,297 114 3,106 3,128 (22)

Information Technology 1,978 2,013 34 2,726 2,726 0

Student Services 2,060 2,045 (15) 2,748 2,748 0

Physical Resources 4,689 4,718 29 6,460 6,460 0

Administration 6,409 6,517 108 8,987 9,040 (53)

External Relations 1,624 1,694 70 2,360 2,360 0

Other (e.g. STAB fund) 796 796 0 1,383 1,383 0

Total salaries & benefits 66,469 66,933 464 95,353 96,154 (801)

Non-staff expense

Utilities

Electricity 411 1,584 1,173 2,376 2,376 0

Gas 429 343 (86) 514 514 0

Water 92 97 5 145 145 0

Oil 3 0 (3) 0 0 0

Total utilities 935 2,023 1,088 3,035 3,035 0


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Operating Actual vs Budget FY2016/17

Year-to-date, Projection and Budget by Object (thousands of dollars)

Report date: January 31, 2017

Run date: February 21, 2017

YTD Budget Projection

Variance Variance

YTD YTD Favourable Restated Projection Favourable

Actual Budget (Unfavourable) Budget (Unfavourable)

Supplies

Computer equip, mtnce, licenses 1,353 1,221 (132) 1,436 1,436 0

Telephone 281 345 63 466 466 0

Consulting, legal & professional 726 294 (433) 470 470 0

PRD repairs & maintenance 1,376 1,411 36 1,725 1,725 0

Travel 492 465 (27) 714 714 0

Library acquisitions 1,302 1,126 (176) 1,262 1,262 0

External contracts 1,493 1,410 (83) 1,697 1,697 0

Fleming 0 0 0 389 389 0

Insurance 399 399 0 394 394 0

Professional development 275 322 46 508 508 0

Interest 2,013 2,013 0 2,037 2,037 0

Municipal taxes 530 530 0 571 571 0

Other supplies & operating costs 2,689 2,889 201 5,253 5,253 0

Appropriations 0 0 0 0 0 0

12,929 12,425 (505) 16,922 16,922 0

Total non-staff expense 13,864 14,448 584 19,957 19,957 0

(including utilities)

Cost Recoveries

PRD admin, MEM, caretaking, etc. (1,921) (1,921) 0 (2,601) (2,601) 0

Admin overhead 0 0 0 (1,314) (1,314) 0

Revenue line items (3,517) (3,517) 0 (2,678) (2,678) 0

Other (124) (124) 0 (709) (709) 0

(5,563) (5,563) 0 (7,302) (7,302) 0

Excess (Deficiency) 19,946 20,893 (946) 1,298 3,250 1,952

SUMMARYRevenue net of scholarships 94,716 96,710 (1,994) 109,306 112,059 2,753

Expenses

Salaries and benefits 66,469 66,933 464 95,353 96,154 (801)

Non-staff expense 13,864 14,448 584 19,957 19,957 0

Cost recoveries (5,563) (5,563) 0 (7,302) (7,302) 0

74,770 75,817 1,048 108,008 108,809 (801)

EXCESS (DEFICIENCY) 19,946 20,893 (946) 1,298 3,250 1,952

Change in internally restricted 0 0 0 0 0 0

Annual surplus (deficit) 19,946 20,893 (946) 1,298 3,250 1,952



To:

Board of Governors

Date of Report:

March 9, 2017

From: Stephen Kylie, Chair – Finance & Property Committee


Steven Pillar, VP Finance & Administration

March 9, 2017

Date of Board Meeting:

April 7, 2017

Subject: Capital Projects Update

Confidentiality: Not Confidential

1.0 PURPOSE

For Information

2.0 RECOMMENDATION

That the Board of Governors receive this report for information.

3.0 EXECUTIVE SUMMARY

The following provides an update with respect to capital project recently completed or currently underway: Otonabee College Residence Roof Replacement This roofing project was approved at the April 1, 2016 Board of Governors meeting. Bothwell-Accurate was the successful bidder and commenced work on May 2, 2016. As of the date of this report, all work is complete, including installation of ice dams and landscape remediation. This project was completed slightly under budget. Update: New roof is performing well. Previous roof had leaking and ice build-up issues in winter. These problems have been eliminated, entirely, with the new roof installation.


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2016/2017 Facility Renewal Projects (FRP) Deferred maintenance on campus is estimated at $55m+. Ontario Universities receive an annual grant amount targeted towards the repair and maintenance of campus infrastructure. The 2016/2017 FRP grant totaled $752k. Of this grant amount, $492k was redirected to the Bata Research & Innovation Cluster (BRIC) project. The remaining $260k is being directed to high priority initiatives that represent safety, accessibility and compliance risks. As is typically the case each year, new deferred maintenance issues present themselves. As a result, in-year changes to the original plan are adjusted based upon immediate need.

Lady Eaton College Exterior Stairs – Decaying structure to be repaired. Now planned for Summer 2017 Estimated Cost - $70k

Blackburn Hall Electrical Service – Required to accommodate infrastructure work associated with the City Arena and Trent Research & Innovation Park (TRIP). Peterborough Utilities was not in a position to work with Trent throughout the Fall of 2016 as they deal with other priorities. Peterborough Utilities is responsible for supply of the required transformer. This required work will likely take place in Summer 2017. Estimated Cost - $90k

Sound Attenuation – DNA Buildings – Required by Ministry of the Environment. Initial design estimates now suggest that this work will likely far exceed the original cost estimates, thus exceeding the funds available within the FRP funding envelope. Engineering study and cost analysis underway. Estimated Cost – TBD


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Accessibility Initiatives – Various locations – Underway. $13k spent to-date. Estimated Cost - $35k

Flooring and Stairs – most critical issues only – Complete Actual Cost - $9k

Faryon Bridge East-Bank Stairs – After assessment by a structural engineer, it was determined that this deteriorating major stairway could be repaired for far less than originally planned. In August 2016, one half of the stairway was remediated with the other half to be addressed in Summer 2017.As a result of this alternate approach being made available, large anticipated capital costs were avoided. Actual Cost $7k

Science Complex Roof Repair – FRP funds were diverted to this project in August 2016 as the roof membrane on a section of the Science Complex failed. Actual Cost – $22k

Champlain College Residence Doors This work is complete with all exterior doors replaced. Mortlock Construction was the constructor. Total expected project cost of approximately $125k. Trent Arena and Trent Research & Innovation Park (TRIP) Trent continues to fully participate in the planning and design associated with the City of Peterborough’s new Arena Complex and the Trent Research & Innovation Park. These two initiatives, along with the installation of required services, result in projects that need to be undertaken by Trent University as follows:

Alumni Baseball Diamond Relocation

The Trent Alumni Baseball Diamond is a popular and long-standing fixture on the East Bank of the Symons Campus. It must, however, be relocated as it currently sits on land slated to be transferred to the City of Peterborough for their Arena Project. After consultation with the Alumni Baseball user group, a suitable new location was agreed-upon. The first stage of the required work has been completed with the new location having been fully graded, seeded and graveled as required for a safe recreational field. In the Spring of 2017, the derelict farm structures in proximity to the new field will be demolished and the area made safe, The cost of this project is estimated at $58k.

Trent Grounds Operation Relocation

As is the case with the Alumni Baseball Diamond, the current location of the Trent University Grounds Operation is required for the Arena Complex. This installation currently occupies approximately 4 acres. Suitable relocation options are being investigated. Once a final location is confirmed, a project budget will be developed.


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Orange Lodge Building

This building, of local historic significance, is located on the East Bank of the Otonabee River, nestled between the Peterborough Rowing Club and River Road. The Orange Lodge, due to its current deteriorated condition, requires significant reconstruction. As this corridor begins to evolve as a result of the Arena and roadway projects, it will become necessary to either fully repair, or relocate this historic building. An Engineer and Architect have been retained to determine potential options and the associated estimated costs. The final engineering report has been received and will be merged with the heritage assessment performed over the last two months. A final combined report will be available in late March 2017.

Crawford House at Traill College – Residence Conversion

Crawford House is one of four houses on the Traill Campus, constructed in the mid-1800’s. It’s current occupants include faculty and graduate students. Crawford House is physically attached to Wallis Hall. This building is currently being assessed by an architect/engineer team to determine the scope and scale of work that would be required to convert it back to undergraduate residential space. It is assumed that approximately eighteen new residence beds could be created within Crawford House. If construction proceeds, the eighteen beds would be available for Fall 2017. Energy Performance Contract (EPC) Ameresco and Trent continue to work in close partnership to design and implement the energy-saving initiatives contemplated under the original budget. In an effort to optimize payback periods while attempting to address the most urgent of deferred maintenance issues wherever possible, additional initiatives are investigated and may replace original one. Summary of completed and in-construction initiatives:

Lighting retrofits on the Symons Campus are complete. Over 33,000 bulbs were replaced.

Boiler heating systems replaced and fully operational in Champlain College and Lady Eaton College

Domestic Hot Water Boilers replaced and fully operational in Lady Eaton College. Utilities sub-meters fully installed with desktop monitoring capabilities coming on-

line in March 2017.. Demand-Based Ventilation initiative underway in the DNA Buildings. Ameresco, in

partnership with Siemens undertaking major Lab Air Control Redesign. Otonabee College Academic Building undergoing modifications to ventilation

systems and controls upgrades/networking.


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Summary of Initiatives in design and commencing in Summer 2017:

Blackburn Hall HVAC Redesign Chemical Science Building - Lab Demand-Based Ventilation Exterior Road Lights – “Candy Cane Lights” Athletics Centre Pool Mechanical Infrastructure Durham Campus Interior/Exterior Lighting Retrofits Traill Campus Interior/Exterior Lighting Retrofits Building Envelope Study and Remediation (All Buildings) Multiple Pump Replacements Water Meter Downsizing Initiative – Symons Campus Science Complex – Air Handling Unit Replacement Science Buildings – Occupancy/CO2 Sensor Controls Upgrade Multiple Transformer Replacements

Summer 2016 work focused primarily on lighting retrofits. Summer 2017 will see more complex initiatives get underway. The nature of these new initiatives will result in more episodic disruptions to air handling and electrical service. That being said, all efforts are made to minimize disruption to normal University business through constant communicate between Ameresco, Trent and building occupants.

StageEstimate at

December 31/16Initiatives Tendered & Approved $5,910,000 38.1%

Initiatives in Active Design $5,560,000 35.9%

Initiatives Not Yet Started $4,030,000 26.0%

Project Budget $15,500,000 100.0%

TRENT UNIVERSITYEnergy Performance Contract (EPC)Summary at December 31, 2016

As at December 31, 2016, ‘Initiatives Tendered & Approved’ are yielding an estimated 10.2 year average payback. This is expected to be closer to a 10 year average as final initiative engineering close-outs take place. 4.0 INPUT FROM OTHER SOURCES

The Datatel Financial system, VFA Facilities Database, and Web Work Order system, Contractor Progress Billings.

5.0 ENTERPRISE RISK ASSESSMENT


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Energy Performance Contact: Construction will take place over the course of two years, and will impact all buildings and external mechanical and electrical at Trent. It must be ensured that all work will take place safely, within regulatory requirements and with as little interruption to normal business as possible. Once completed, this project will have addressed an estimated $5.8M in deferred maintenance issues.

6.0 STRATEGIC ALIGNMENT / COMPLIANCE

Section 10 of the Trent Act vests in the Board the power and responsibility over and for the management of the property of the University.

7.0 COMMUNICATIONS STRATEGY

The Facilities Management Department provides regular updates on the status of construction projects, highlighting how the projects will affect the Trent community via the myTrent portal as well as through the website. Key stakeholders will also be notified through the email system and site signage will be in place, as required.


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1.0 PURPOSE

For Information 2.0 RECOMMENDATION To be received by the Endowment Lands Committee and Board of Governors for information. 3.0 EXECUTIVE SUMMARY Board Special Resolution II.7 – Stewardship and Use of Endowment Lands Revenue sets out, in part, that:

Within sixty (60) days of the end of the calendar year, the Secretary shall provide a report to the ELC and the Board of Governors identifying the source, distribution and balance of revenues and expenditures in the ELF for the previous year, and the same shall include the balance for any prior years.

Refer to Appendix A for a detailed accounting of the Endowment Lands Fund for the 2016 calendar year. 4.0 INPUT FROM OTHER SOURCES Special Resolution II.7 – Stewardship and Use of Endowment Lands Revenue Endowment Lands Fund Investment Performance – Quarterly Reports Review of Endowment Lands Fund accounts (Finance Office)



From: Armand La Barge, Chair – Endowment Lands Committee Karen Spearing, University Secretary


March 9, 2017


April 7, 2017

Subject: Annual Report on Endowment Lands Fund Confidentiality: Not Confidential


5.0 ANALYSIS Attached Appendix A – Endowment Lands Fund: Revenue and Expense for Calendar Year 2016 reflects an ending balance of $2,999,456. The in-year variance of $179,214, while representing an increase in the overall fund, was offset by a drop in realized gains on investments (due primarily to the draw from the fund of $250,000 in 2015), investment portfolio fees and interest paid on annual principal to the City of Peterborough (re Woodland Drive municipal services). Note that an additional draw of $2,000,000 has been committed, but not executed to date, in relation to servicing infrastructure related to the construction of a new municipal arena on campus and development of a research and innovation park (TRIP). This draw will be made incrementally over the course of the projects. 6.0 FINANCIAL IMPLICATIONS SR II.7 sets out that all revenue, net of expenses, from the sale, lease or development of Endowment Lands shall be placed into the Endowment Lands Fund (ELF) and invested in a manner that mirrors the University’s professionally managed endowment portfolio and accounted for separately. In order to maximize the benefit derived from Endowment Lands development revenue while ensuring that future Boards have the flexibility they need to make financial decisions, SR II.7 stipulates that revenue from the sale, lease or development of the Endowment Lands, and income from their investment, shall only be spent in accordance with specific guidelines as set out in the policy, or with specific Board approval of an alternate use. 7.0 ENTERPRISE RISK ASSESSMENT Capital Development, and Endowment Lands and TRIP Development are noted as #4 and 5 on the top 11 enterprise risks for the University in 2016-17. The Development of Trent Lands offers the opportunity to develop a fourth revenue stream (in addition to government grants, donor contributions, and debt financing) to help support the institutional commitments of the Integrated Plan. The creation of private/public partnerships to develop this opportunity carries the risk of stewardship and governance missteps, and demands on capital contribution in some cases that may strain university capacity. In responding to the risks of these development opportunities, risk treatments include but are not limited to the reporting of the segregated Endowment Land fund balances, expenditures and investment returns to the regular meetings of the Endowment Lands Committee, and ensuring that adequate debt financing provisions are indicated for proposed new capital redevelopment projects as they are brought forward for Board approval. Endowment Lands and TRIP Development risks, as relates to the endowment lands fund have been previously identified through the commitment of $2M from that fund in support of municipal servicing for these lands, as well as on-going work by the Task Force on Endowment Lands Governance for an optimal oversight body that would, in part, provide appropriate stewardship and management of these funds going forward.


8.0 STRATEGIC ALIGNMENT / COMPLIANCE The Endowment Lands Fund will, in part, provide the necessary seed capital for development of the endowed lands, consistent with the Trent Lands Plan (including but not limited to for development-related staffing costs and overhead, servicing costs, marketing, studies, environmental assessments, planning approvals, reports, permits, licences, consulting, legal fees and disbursements). 9.0 COMMUNICATIONS STRATEGY This annual report on the ELF will be presented to the Board of Governors for

information on April 7, 2017. Attached: Appendix A: Endowment Lands Fund Revenue and Expense for 2016


2016 2015Revenue

Investment income 86,073 75,137 Realized gains on investments 20,229 50,206 Lease income - RDC - 205,000 Lease income - Locks 22/23 108,333 145,235 Proceeds from property sale - - Interest allocation * 1 3,868 7,435

218,503 483,013

ExpenseInvestment portfolio fees * 2 19,204 19,738 Consulting fees (e.g. appraisal and legal fees) - - Interest expense * 3 3,835 4,950 Contribution to City of Peterborough projects - 250,000 Misc. 16,250

39,289 274,688

Excess of revenue over expense 179,214 208,325

2016 2015Opening balance 2,820,242 2,611,917 Excess of revenue over expense 179,214 208,325 Ending balance 2,999,456 2,820,242

made up of: 2016 2015TDAM investment portfolio (FV $2,600,816) 2,575,359 2,489,495 Cash 424,097 330,747 Book value 2,999,456 2,820,242

(0)

* 3 interest expense portion re annual principal and interest paid to City of Peterborough re Woodland Dr. municipal services

Endowment Lands FundRevenue and Expense for the year ended December 31, 2016

with comparative figures for December 31, 2015

* 1 interest allocation from operating fund based on monthly cash balances, calculated annually at April 30th at rate paid by BMO

* 2 custodian, investment manager and investment consultant fees

ELF Portfolio transactions 16-17 Rev-exp calendar yr 2/28/2017

APPENDIX ABOARD OPEN SESSION - April 7, 2017

of 51

Executive Summary

Page 1


AllocationMarketValue($000)

%

Performance (%)

1Quarter

1Year

2Years

3Years

4Years

5Years

10Years

Pension Fund* 306,098 100.0 1.0 (74) 7.8 (49) 5.5 (92) 6.9 (86) 8.4 (100) 8.4 (100) 4.7 (96)Benchmark 1.0 7.9 5.5 6.9 8.4 8.3 4.9Value Added 0.0 -0.1 0.0 0.0 0.0 0.1 -0.2Balanced Funds Median 1.9 7.8 6.5 8.1 9.7 9.7 6.0TDAM Emerald Canadian Equity Index 94,827 31.0 4.5 21.0 5.4 7.1 8.6 8.3 -S&P/TSX Composite 4.5 21.1 5.4 7.1 8.5 8.2 4.7Value Added 0.0 -0.1 0.0 0.0 0.1 0.1 -

TDAM Emerald Pooled U.S. Equity Index 24,346 8.0 5.9 8.1 14.6 17.6 23.1 21.1 -S&P 500 (CAD) 5.9 8.1 14.6 17.7 23.2 21.2 8.5Value Added 0.0 0.0 0.0 -0.1 -0.1 -0.1 -

TDAM Emerald Hedged Synthetic U.S. Equity Index 23,740 7.8 3.7 11.3 6.0 8.7 14.4 14.7 -S&P 500 Hedged TR (CAD) 3.7 11.4 6.0 8.7 14.4 14.8 6.1Value Added 0.0 -0.1 0.0 0.0 0.0 -0.1 -

TDAM Emerald International Equity Index 46,054 15.0 1.3 -2.4 7.8 6.5 12.2 12.7 -MSCI EAFE (Net) (CAD) 1.3 -2.5 7.7 6.3 12.0 12.6 2.2Value Added 0.0 0.1 0.1 0.2 0.2 0.1 -

TDAM Emerald Canadian Bond Index 106,460 34.8 -3.4 1.6 2.6 4.6 3.1 3.2 -FTSE TMX Universe Bond -3.4 1.7 2.6 4.6 3.1 3.2 4.8Value Added 0.0 -0.1 0.0 0.0 0.0 0.0 -

TDAM Emerald Short-Term Index 10,623 3.5 0.2 0.9 1.0 1.0 1.1 1.1 1.7FTSE TMX 91-Day T-Bill 0.1 0.5 0.6 0.7 0.8 0.8 1.4Value Added 0.1 0.4 0.4 0.3 0.3 0.3 0.3

Executive Summary - By Plan

Trailing Period PerformanceAs of 31 December 2016

Parentheses contain percentile rankings.* Total fund market value includes cash account balance (if any).

Page 2



%

Performance (%)

1Quarter

1Year

2Years

3Years

4Years

5Years

10Years

Endowment Fund* 54,623 100.0 1.0 (76) 6.4 (80) 5.9 (87) 7.2 (84) 9.1 (89) 9.1 (87) 4.4 (97)Benchmark 0.8 6.2 5.8 7.2 9.1 9.0 4.9Value Added 0.2 0.2 0.1 0.0 0.0 0.1 -0.5Balanced Funds Median 1.9 7.8 6.5 8.1 9.7 9.7 6.0

Endowment (TDAM Funds) 50,865 93.1 0.9 (84) 6.1 (83) 5.8 (88) 7.1 (84) 9.0 (90) 9.0 (87) 4.4 (97)Endowment Benchmark 0.8 6.2 5.8 7.2 9.1 9.0 4.9Value Added 0.1 -0.1 0.0 -0.1 -0.1 0.0 -0.5Balanced Funds Median 1.9 7.8 6.5 8.1 9.7 9.7 6.0TDAM Emerald Canadian Equity Index 10,518 19.3 4.5 21.0 5.4 7.1 8.5 8.3 -S&P/TSX Composite 4.5 21.1 5.4 7.1 8.5 8.2 4.7Value Added 0.0 -0.1 0.0 0.0 0.0 0.1 -

TDAM Emerald Pooled U.S. Equity Index 5,399 9.9 5.9 8.0 14.5 17.5 23.1 21.1 -S&P 500 (CAD) 5.9 8.1 14.6 17.7 23.2 21.2 8.5Value Added 0.0 -0.1 -0.1 -0.2 -0.1 -0.1 -

TDAM Emerald Hedged Synthetic U.S. Equity Index 5,262 9.6 3.6 11.1 5.7 8.3 13.9 14.3 -S&P 500 Hedged TR (CAD) 3.7 11.4 6.0 8.7 14.4 14.8 6.1Value Added -0.1 -0.3 -0.3 -0.4 -0.5 -0.5 -

TDAM Emerald International Equity Index 10,216 18.7 1.3 -2.4 7.8 6.4 12.1 12.7 -MSCI EAFE (Net) (CAD) 1.3 -2.5 7.7 6.3 12.0 12.6 2.2Value Added 0.0 0.1 0.1 0.1 0.1 0.1 -


TDAM Emerald Short-Term Index 1,515 2.8 0.2 0.9 1.0 1.0 1.1 1.1 1.7FTSE TMX 91-Day T-Bill 0.1 0.5 0.6 0.7 0.8 0.8 1.4Value Added 0.1 0.4 0.4 0.3 0.3 0.3 0.3



Parentheses contain percentile rankings.* Total fund market value includes cash account balance (if any).** Fund inception was 11 January 2016. Composite returns represent total returns realized by the Endowment Fund. Underlying fund returns are shown on a historical basis and sourced from the manager.*** Historical returns calculated on a monthly basis using an asset mix of 80% large cap and 20% small cap.

Page 3





%

Performance (%)

1Quarter

1Year

2Years

3Years

4Years

5Years

10Years

NEI SRI Funds ** (Sub-Fund of the Endowment Fund) 3,758 6.9 2.4 - - - - - -NEI SRI Fund Benchmark 1.5 9.4 7.2 8.4 10.0 9.6 5.4

NEI Ethical Canadian Equity *** 1,126 2.1 6.9 28.4 10.3 10.2 14.8 14.7 8.2NEI Ethical Canadian Equity Benchmark 4.5 25.8 7.3 7.9 9.2 8.6 5.3Value Added 2.4 2.6 3.0 2.3 5.6 6.1 2.9

NEI Ethical Global Equity 1,309 2.4 4.6 12.5 16.6 14.1 18.2 17.5 6.5MSCI World (Net) (CAD) 3.9 3.8 11.1 12.2 17.5 16.7 5.3Value Added 0.7 8.7 5.5 1.9 0.7 0.8 1.2

NEI Canadian Bond 1,322 2.4 -3.1 1.8 2.9 4.7 3.2 3.4 4.9FTSE TMX Universe Bond -3.4 1.7 2.6 4.6 3.1 3.2 4.8Value Added 0.3 0.1 0.3 0.1 0.1 0.2 0.1

Parentheses contain percentile rankings.* Total fund market value includes cash account balance (if any).** Fund inception was 11 January 2016. Composite returns represent total returns realized by the Endowment Fund. Underlying fund returns are shown on a historical basis and sourced from the manager.*** Historical returns calculated on a monthly basis using an asset mix of 80% large cap and 20% small cap.

Page 4



%

Performance (%)

1Quarter

1Year

2Years

3Years

4Years

5Years

10Years

Endowment Lands Fund* 2,601 100.0 0.9 (84) 6.2 (82) 5.8 (87) 7.2 (84) - - -Benchmark 0.8 6.2 5.8 7.2 9.1 9.0 4.9Value Added 0.1 0.0 0.0 0.0 - - -Balanced Funds Median 1.9 7.8 6.5 8.1 9.7 9.7 6.0TDAM Emerald Canadian Equity Index 538 20.7 4.5 21.0 5.4 7.1 - - -S&P/TSX Composite 4.5 21.1 5.4 7.1 8.5 8.2 4.7Value Added 0.0 -0.1 0.0 0.0 - - -

TDAM Emerald Pooled U.S. Index 276 10.6 5.9 8.1 14.6 17.6 - - -S&P 500 (CAD) 5.9 8.1 14.6 17.7 23.2 21.2 8.5Value Added 0.0 0.0 0.0 -0.1 - - -

TDAM Emerald Hedged Synthetic U.S. Equity Index 269 10.3 3.6 11.1 5.8 8.4 - - -S&P 500 Hedged TR (CAD) 3.7 11.4 6.0 8.7 14.4 14.8 6.1Value Added -0.1 -0.3 -0.2 -0.3 - - -

TDAM Emerald International Equity Index 522 20.1 1.3 -2.3 7.9 6.5 - - -MSCI EAFE (Net) (CAD) 1.3 -2.5 7.7 6.3 12.0 12.6 2.2Value Added 0.0 0.2 0.2 0.2 - - -

TDAM Emerald Canadian Bond Index 918 35.3 -3.4 1.6 2.6 4.6 - - -FTSE TMX Universe Bond -3.4 1.7 2.6 4.6 3.1 3.2 4.8Value Added 0.0 -0.1 0.0 0.0 - - -

TDAM Emerald Short-Term Index 77 3.0 0.2 0.9 1.0 1.0 - - -FTSE TMX 91-Day T-Bill 0.1 0.5 0.6 0.7 0.8 0.8 1.4Value Added 0.1 0.4 0.4 0.3 - - -



Parentheses contain percentile rankings.The Endowment Lands Fund account opened in November 2013 and the funds came in on 19 December 2013.* Total fund market value includes cash account balance (if any).

Page 5



%

Performance (%)

1Quarter

1Year

2Years

3Years

4Years

5Years

10Years

SRA Fund* 2,918 100.0 1.0 (74) 7.6 (51) 5.4 (92) 6.8 (89) 8.3 (100) 8.3 (100) 4.4 (97)Benchmark 1.0 7.9 5.5 6.9 8.4 8.3 4.9Value Added 0.0 -0.3 -0.1 -0.1 -0.1 0.0 -0.5Balanced Funds Median 1.9 7.8 6.5 8.1 9.7 9.7 6.0TDAM Emerald Canadian Equity Index 902 30.9 4.6 21.0 5.4 7.1 8.6 8.3 -S&P/TSX Composite 4.5 21.1 5.4 7.1 8.5 8.2 4.7Value Added 0.1 -0.1 0.0 0.0 0.1 0.1 -

TDAM Emerald Pooled U.S. Index 239 8.2 6.1 8.3 14.8 17.7 23.2 21.2 -S&P 500 (CAD) 5.9 8.1 14.6 17.7 23.2 21.2 8.5Value Added 0.2 0.2 0.2 0.0 0.0 0.0 -

TDAM Emerald Hedged Synthetic U.S. Equity Index 225 7.7 3.8 11.3 5.9 8.5 14.1 14.4 -S&P 500 Hedged TR (CAD) 3.7 11.4 6.0 8.7 14.4 14.8 6.1Value Added 0.1 -0.1 -0.1 -0.2 -0.3 -0.4 -

TDAM Emerald International Equity Index 438 15.0 1.3 -2.5 7.8 6.4 12.1 12.7 -MSCI EAFE (Net) (CAD) 1.3 -2.5 7.7 6.3 12.0 12.6 2.2Value Added 0.0 0.0 0.1 0.1 0.1 0.1 -

TDAM Emerald Canadian Bond Index 1,012 34.7 -3.5 1.5 2.5 4.6 3.1 3.2 -FTSE TMX Universe Bond -3.4 1.7 2.6 4.6 3.1 3.2 4.8Value Added -0.1 -0.2 -0.1 0.0 0.0 0.0 -

TDAM Emerald Short-Term Index 101 3.5 0.2 0.9 1.0 1.0 1.1 1.1 1.7FTSE TMX 91-Day T-Bill 0.1 0.5 0.6 0.7 0.8 0.8 1.4Value Added 0.1 0.4 0.4 0.3 0.3 0.3 0.3




Page 6



%

Performance (%)

1Quarter

1Year

2Years

3Years

4Years

5Years

10Years

Special Investment Fund* 2,846 100.0 0.4 (91) 7.6 (52) 4.8 (98) 6.3 (99) 7.1 (100) 7.1 (100) 5.1 (95)Benchmark 0.3 7.6 4.8 6.4 7.2 7.1 4.9Value Added 0.1 0.0 0.0 -0.1 -0.1 0.0 0.2Balanced Funds Median 1.9 7.8 6.5 8.1 9.7 9.7 6.0TDAM Emerald Canadian Equity Index 888 31.2 4.5 21.1 5.5 7.1 8.6 8.3 -S&P/TSX Composite 4.5 21.1 5.4 7.1 8.5 8.2 4.7Value Added 0.0 0.0 0.1 0.0 0.1 0.1 -

TDAM Emerald Pooled U.S. Index 152 5.3 5.9 8.1 14.6 17.6 23.1 21.1 -S&P 500 (CAD) 5.9 8.1 14.6 17.7 23.2 21.2 8.5Value Added 0.0 0.0 0.0 -0.1 -0.1 -0.1 -

TDAM Emerald Hedged Synthetic U.S. Equity Index 148 5.2 3.6 11.2 5.8 8.4 14.0 14.4 -S&P 500 Hedged TR (CAD) 3.7 11.4 6.0 8.7 14.4 14.8 6.1Value Added -0.1 -0.2 -0.2 -0.3 -0.4 -0.4 -

TDAM Emerald International Equity Index 288 10.1 1.3 -2.4 7.8 6.5 12.1 12.7 -MSCI EAFE (Net) (CAD) 1.3 -2.5 7.7 6.3 12.0 12.6 2.2Value Added 0.0 0.1 0.1 0.2 0.1 0.1 -


TDAM Emerald Short-Term Index 100 3.5 0.2 0.9 1.0 1.0 1.0 1.1 1.7FTSE TMX 91-Day T-Bill 0.1 0.5 0.6 0.7 0.8 0.8 1.4Value Added 0.1 0.4 0.4 0.3 0.2 0.3 0.3




Page 7


2016 2015 2014 2013 2012 2011 2010Pension Fund 7.8 (49) 3.2 (79) 9.8 (75) 13.1 (95) 8.0 (78) 0.2 (35) 9.7 (65)Benchmark 7.9 3.1 9.8 13.0 8.0 -0.1 10.0Value Added -0.1 0.1 0.0 0.1 0.0 0.3 -0.3Balanced Funds Median 7.8 5.5 10.9 16.1 9.1 -1.0 10.5Endowment 6.1 (83) 5.5 (50) 9.9 (74) 15.0 (68) 8.8 (57) 0.6 (31) 8.4 (89)Benchmark 6.2 5.5 9.9 15.0 8.8 0.5 9.0Value Added -0.1 0.0 0.0 0.0 0.0 0.1 -0.6Balanced Funds Median 7.8 5.5 10.9 16.1 9.1 -1.0 10.5Endowment Lands Fund 6.2 (82) 5.5 (49) 9.9 (74) - - - -Benchmark 6.2 5.5 9.9 15.0 8.8 0.5 9.0Value Added 0.0 0.0 0.0 - - - -Balanced Funds Median 7.8 5.5 10.9 16.1 9.1 -1.0 10.5SRA 7.6 (51) 3.2 (79) 9.7 (80) 13.1 (96) 8.0 (79) 0.1 (36) 9.7 (67)Benchmark 7.9 3.1 9.8 13.0 8.0 -0.1 10.0Value Added -0.3 0.1 -0.1 0.1 0.0 0.2 -0.3Balanced Funds Median 7.8 5.5 10.9 16.1 9.1 -1.0 10.5Special Investment Fund 7.6 (52) 2.0 (82) 9.5 (82) 9.6 (98) 6.9 (91) 1.3 (25) 9.8 (64)Benchmark 7.6 2.0 9.6 9.6 6.9 1.2 10.0Value Added 0.0 0.0 -0.1 0.0 0.0 0.1 -0.2Balanced Funds Median 7.8 5.5 10.9 16.1 9.1 -1.0 10.5


Rolling Year PerformanceAs of 31 December 2016

Parentheses contain percentile rankings.

Page 8


Executive Summary

Mandate Comments Recommendations

Pension Fund All index funds tracked their respective indices as expected.

No material negative influences.

No action is required.

Endowment Fund All index funds tracked their respective indices as expected.



The Socially Responsible Investing (SRI) Sub-Fund for the Endowment Fund started on 11 January 2016 with investment in three funds on the Desjardins platform managed by Northwest & Ethical Investments L.P. (NEI).

The three SRI funds are NEI Ethical Canadian Equity Fund, NEI Ethical Global Equity Fund and NEI Canadian Bond Fund.

The total SRI sub-fund, comprising the three NEI funds above, outperformed its benchmark during the quarter ending 31 December 2016.


Endowment Lands Fund All index funds tracked their respective indices as expected.



SRA Fund All index funds tracked their respective indices as expected.



Special Investment Fund All index funds tracked their respective indices as expected.



Commentary and Recommendations

As at 31 December 2016

Page 9


Executive Summary

Mandate Comments Recommendations

Commentary and Recommendations

As at 31 December 2016

TDAM Tim Wiggan, Chief Executive Officer, TDAM, returned to TD Securities Inc. in an expanded role to lead their equities business effective 1 November 2016. Bruce Cooper, Chief Investment Officer, TDAM, and Senior Vice President, TD Bank Group, became CEO of TDAM effective 1 November 2016, while retaining his responsibilities as CIO. See Appendix E for more details.


Currency The hedged S&P 500 Index return of 3.8% was below the unhedged S&P 500 Index return of 5.9% over the quarter as the CAD depreciated 2.3% against the USD.


Canada Pension Plan

Reform

On 20 June 2016, an agreement in principle to enhance the CPP was reached between the federal and provincial finance ministers, with the exception of Manitoba, British Columbia and Quebec.

Manitoba and British Columbia ratified the agreement on 7 July 2016 and 4 October 2016, respectively.

Quebec has its own Quebec Pension Plan (QPP) and will not be weighing in on CPP reform.

Bill 26, An Act to amend the Canada Pension Plan, the Canadian Pension Plan Investment Board and the Income Tax Act, received royal assent on 15 December 2016.

Bill 70, Building Ontario up for Everyone Act , received royal assent on 8 December 2016. The bill allows for the dismantling of the Ontario Registered Pension Plan and repeal of applicable legislation.

For additional details, please see Appendix C (“Canada Reform Marches On”).

Discuss the impact of the CPP enhancement with your investment consultant.

Page 10


Latest Thinking

Executive Summary

During the last quarter, we have produced papers on the following topics. Although these topics may not be directly applicable to your plan, they may be of general interest and provide some insight into Aon Hewitt’s global research. For more details, please contact your Aon Hewitt Investment Consultant.

Topic Summary

Global Invested Capital

Market

The concept of a world market portfolio plays an important role in many financial theories and models. Knowledge of each asset’s share of the invested capital markets is both useful information and a good starting point for investors considering the appropriate allocation to the asset. This paper looks at the size and growth of the current world market portfolio from a Canadian perspective.

www.aon.ca/pubs/ic/2017/Global-Invested-Capital-Market-Canada-2016.pdf

Putting “Watch Lists”

on Watch

Many institutional investors use “watch lists” as part of their process for monitoring investment managers. While some people believe watch lists are a key component of the fiduciary process, others believe watch lists can facilitate poor decision-making regarding investment managers, driving increased turnover. This paper looks at traditional watch lists and suggests an alternative process for monitoring investment managers. This paper is written from a U.S. perspective.

www.aon.ca/pubs/ic/2017/Putting-Watch-Lists-on-Watch.pdf

For more timely access to our latest thinking, please visit and subscribe to the Aon Hewitt Retirement & Investment Blog: https://retirementandinvestmentblog.aon.com/

Page 11



To: Board of Governors Date of Report: February 3, 2017

From: Lee Hays Director Alumni Affairs

Jess Grover TUAA President

Subject: Year One Update on Trent Alumni Strategic Priorities 2016-18 Confidentiality: Not Confidential Deferred from February 3, 2017 Board meeting 1.0 PURPOSE

For Information 2.0 RECOMMENDATION

For Information Only 3.0 EXECUTIVE SUMMARY In December, 2015 the Board of Governors endorsed a new Strategic Plan for Trent Alumni. The plan was launched in 2016 and this is the update on the work that has been completed throughout the first year of the plan and an introduction to priorities for 2017. 4.0 GUIDING STATEMENT With a transformative, collaborative, and personal student experience as the foundation, Trent University considers its graduates invested and important lifelong stakeholders and members of Trent’s inclusive intellectual and social community. Through decision making, outreach, programs, and initiatives aimed to involve the network of alumni worldwide in pursuing the university’s mission.


- 2 -

5.0 PRIORITY 1 - ENGAGEMENT OBJECTIVE: Expand intellectual engagement opportunities and provide various ways for alumni to interact with Trent and each other from global locations. 3-year engagement plans in place for priority cities/regions; recruitment of volunteer

champions in progress Over 40 interviews and 10 lectures featured on podcast library 2017 will launch new format for Alumni Awards w/ award presentations in key

regions OBJECTIVE: Utilize events and initiatives organized through departments and colleges to double the number of alumni participants. Life After Trent advisory committee completed review and made recommendations

for growth and sustainability of program (report # of mentors and networking volunteers)

Partner with departments and colleges to host alumni at events

OBJECTIVE: Better engage with graduates of Durham Campus. New convocation ceremonies in 2016 for Trent Durham grads Develop a physical presence for alumni relations at Durham campus Working in collaboration with Durham campus staff to include alumni in public

events; also formed a new TUAA Durham Alumni working group

OBJECTIVE: Tailor alumni programming to address the various stages of life of alumni. Networking and mentoring expanded for young alumni Worked closely with Dept of Athletics on expanding Homecoming, 50th Anniversary

of Men’s Rugby Community for Trent Women continues to gain momentum and host dynamic

events

OBJECTIVE: Connect with students throughout their student experience in order to strengthen awareness of alumni impact and build culture of lifelong relationship. Alumni Ambassadors program launch underway Student Alumni Association – planning underway, launching in September Permanent alumni presence in new student centre: Alumni Atrium Life After Trent review and expansion Participation from all three student unions in TUAA Council, strengthening the

connection between students and TUAA


- 3 -

OBJECTIVE: Increase philanthropy among alumni. Surpassed Alumni Student Centre Challenge Goals Greater content in all alumni communications about impact of giving and

opportunities to give Alumni participation in $50 Million campaign was significant (50% of $ last year

were from alumni) Creation of a new Portfolio within the TUAA Executive – Engagement and

Philanthropy Strategies developed within ER&A portfolio to expand alumni participation in Annual

Fund campaign OBJECTIVE: Create enhanced opportunities for involvement and nurture continued feelings of engagement and pride amongst university retirees. New retiree welcome packages have been implemented; retirees as special guests

at alumni events; retirees invited to attend events; column in magazine; new TUARP webpage and improved communications via Alumni channels

PRIORITY 2 – COMMUNICATIONS

OBJECTIVE: Revitalize Trent magazine.

Redesign of TRENT magazine and implement TRENT magazine LIVE site New format, online media site, budget for 3rd edition

OBJECTIVE: Have a greater digital presence; increase social media contacts.

New website introduced in collaboration with Advancement Exceeding goals for social media growth, especially Instagram which has grown

from just a handful to close to 700 followers in the past year. Alma Matters, monthly e-newsletter, revised format

OBJECTIVE: Reach a greater number of alumni with our communications. Email contact rates have improved from 40% to 47.64% Overall contact rate (via email, mail or phone) has increased from 76% to 79%


- 4 -

More alumni are accessing our website. In past year there were 6,000 unique alumni logins – in past 30 days there were 1870 unique alumni logins

Email open rates range from 16 – 21% on average – up to about 4,000 alumni open the monthly Alma Matters e-newsletter.

PRIORITY 3 – CAPACITY BUILDING OBJECTIVE: Increase data management capabilities to suit the goals of alumni relations and enable more relevant outreach and customized communications: Industry and profession standardization completed; communication preference

review underway Application to graduate revised; email sent to new grads with 64%-84% open rate LinkedIn Employment data project completed

OBJECTIVE: Collaborate with departments and colleges on joint alumni communication and engagement plans; excite and enable partners at the university in alumni relations efforts. Alumni presentation to 2 decanal meetings Developed a new standard procedure for assisting with program reviews Facilitated alumni research projects with 4 departments TUAA Council-Colleges Liaison role filled and working well

OBJECTIVE: Double the number of alumni volunteers with university related activities; expand on the number of volunteers outside the Peterborough region: New online application form for volunteers; volunteer opportunities posted on alumni

website Seeing significant volunteer increases in: mentoring, networking sessions; chapter

champions; TUAA council and committees Alumni ambassador program launching in January to help with student recruitment

OBJECTIVE: Raise funds to support and sustain enhanced alumni programming. Draft case for support in progress Have already raised $108,000 ($53,000 in endowment) Launch in April at 50Th Anniversary celebration for TUAA


- 5 -

OBJECTIVE: Strengthen partnership and collaborative efforts between TUAA and University. Governance review completed, changes to constitution and alumni council structure

have been implemented as of AGM 2016 Joint mission statement and mandate agreed to between TUAA Council and Alumni

Affairs Working collaboratively towards Strategic Priorities Board of Governors structure now includes minimum of 4 designated alumni seats TUAA Councilor Handbook and Code of Conduct created to ensure expectations

and responsibilities are clear Communication with Advancement Committee and Board has improved

9.0 2017 Priorities

Collaborate with Recruitment, Continuing Ed, and Grad Studies to promote lifelong learning to alumni

Continue to expand Life After Trent for students and young alumni Heightened focus on alumni giving strategies and launch of Alumni Excellence &

Engagement Fund Expansion of Special Interest Groups; tailored programming for Graduate Program

alumni Refine and enhance online communications by incorporating more video Better data management and reporting to enable segmentation / tailored

communications Launch of Day of Service & Student Alumni Association Volunteer recruitment and support; first formal alumni volunteer recognition event Implement strategies for increasing alumni annual giving participation rate




From: Lucie Edwards, Chair – Nominating & Governance Committee Date of Committee Meeting:

Karen Spearing, University Secretary

March 24, 2017


April 7, 2017

Subject: Proposed Revisions to Special Resolution IV.3 – Conflict of Interest Confidentiality: Not Confidential

1.0 PURPOSE

For Approval 2.0 RECOMMENDATION That the Board of Governors approve revisions to Special Resolution IV.3 – Board of Governors Conflict of Interest or Duty, as presented.

3.0 EXECUTIVE SUMMARY Board By-law No. 1, Section 38 – Conflicts of Interest, sets out in general terms conflict of interest provisions for the Board of Governors and Officers of the University. On March 24, 2017, the Executive Committee approved a letter of settlement with TUFA and OPSEU that would remove language from the respective collective agreements requiring those faculty and staff who are appointed to the Board of Governors to be temporarily removed from their bargaining units. Based on this change in practice, and recognizing the need for greater clarity around matters of conflict of interest and/or duty, the Nominating & Governance Committee undertook a review of the current conflict of interest provisions for Board and committee members. These proposed revisions also include a proposed annualized declaration of conflict. 4.0 INPUT FROM OTHER SOURCES

Board By-law #1 Special Resolution IIV.3 – Additional Conflict of Interest Provisions Review of Sector Best Practices


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5.0 ANALYSIS Attached are the proposed draft revisions to Special Resolution IV.3 – Board of Governors Conflict of Interest or Duty, for review and discussion. Note that the document does not include track changes as the current policy is a brief statement that confirms that members of Board committees are also captured in conflict of interest provisions. Much of the language set out in this revised policy is reflective of practices within the sector that provides consistency of interpretation, assists individual board members in proactively identifying real or potential conflicts of interest, and greater protection for the Board as a whole. 6.0 FINANCIAL IMPLICATIONS

N/A 7.0 ENTERPRISE RISK ASSESSMENT

Robust conflict of interest/duty provisions protect the integrity of the institution as a whole and individual members of the Board of Governors and its committees as relates to execution of their fiduciary responsibilities in an ethical and transparent manner.

8.0 STRATEGIC ALIGNMENT / COMPLIANCE

Consistent with the Trent Act and By-laws 9.0 COMMUNICATIONS STRATEGY Following approval of revised conflict of interest/duty provisions, the acknowledgement and undertaking will be an annualized declaration process, and the policy will become an integral part of Board orientation, and inform deliberations at all meetings of the Board and its committees. Attachment: Draft Revised Special Resolution IV.3


DRAFT

SPECIAL RESOLUTION IV.3

Board of Governors Conflict of Interest or Duty

By-law No. 1, Section 38 – Conflicts of Interest, is the governing provision for determining conflicts of interest for Governors and shall continue to govern those matters referred to therein. This policy provides additional context to that provision and a procedure for declaring and determining conflicts of interest.

1.0 Purpose

1.1. For the purposes of this policy, “Conflict” relates to either of “Conflict of Interest” or “Conflict of Duty”.

1.2. Conflicts of interest are expected to arise as part of the day-to-day work of the Board and its committees. Identification of a conflict is not a reflection on the integrity of an individual.

1.3. The purpose of the Conflict of Interest or Duty Policy is to:

1.3.1. Ensure that Board and Board Committee Members (including external consultants to committees), as fiduciaries to a publicly-funded university are, and are seen to be, fulfilling their special duties of care and loyalty to Trent University with respect to maintaining the University’s interests as paramount to all others;

1.3.2. Promote a standard of conduct that will preserve and enhance public confidence in the integrity, objectivity and impartiality of the decision-making processes of the Board of Governors and its Committees; and

1.3.3. Assist Board and Committee Members and others to recognize and to respond to Conflict of Interest situations.

2.0 Definitions

2.1 “Act” means the Trent University Act.

2.2 “Board” means the Board of Governors of Trent University.

2.3 “Board Chair” means the individual appointed by the Board of Governors as the Chair of the Board of Governors of Trent University.


2.4 “Board Committee” is a standing, special, ad hoc or other committee established by the Board under its jurisdiction under the Act.

2.5 “Board Member” means a Member of the Board of Governors of Trent University.

2.6 “Board Vice-Chair” means an individual who has been appointed by the

Board of Governors to the role of Vice-Chair. 2.7 “Conflict” means Conflict of Interest or Duty. 2.8 “Conflict of Interest” is a situation or circumstance involving a private

interest of a Board and/or Committee Member, which is sufficient to influence, or appear to influence, a Member’s exercise of an official power or performance of an official duty or function on behalf of the Board of Governors, its Committees and the University generally.

2.8.1 “Actual Conflict of Interest” is a situation where a Board and/or

Committee member has a private or personal interest that is sufficiently connected to his or her duties and responsibilities as a governor that it influences the exercise of these duties and responsibilities;

2.8.2 “Perceived Conflict of Interest” is a situation where reasonably well-informed persons could properly have a reasonable belief that a governor has an actual conflict of interest, even where that is not the case in fact;

2.8.3 “Potential Conflict of Interest” is a situation where a governor

has a private or personal interest that could influence the performance of a governor’s duties or responsibilities, provided that he or she has not yet exercised that duty or responsibility.

2.9 “Conflict of Duty” means a set of circumstances in which a Board and/or

Committee Member has or appears to have a conflict between their duties to act in the best interests of the University and the duties they have or appear to have because of another role and/or private interest. May also be referred to as “wearing two hats”.

3.0 Interpretation 3.1 Responsibilities of the Board and Board Committee Members with regard

to conflict: 3.1.1 Board Members and Board Committee Members are appointed

with the responsibility to act in the best interests of the University. A Board or Committee Member will not exercise an


official power or perform an official duty or function if that Member has a Conflict of Interest or Duty or a perceived Conflict unless that Conflict has been disclosed, mitigated and/or managed appropriately. Members of the Board of Governors and Committee Members will adhere to the established and approved Board of Governors Conflict of Interest or Duty Policy. Board or Committee Members must declare any real or perceived conflicts.

3.1.2 Board and Committee Members, no matter how they come to be appointed, have a responsibility only to the best interests of the University. Any Member must function as a Member of the Board or Committee as a whole and not as a spokesperson for a constituency. Each Member has a duty with other Members to further the best interests of the University.

3.1.3 Members must maintain an arm’s length separation between

their Private Interests or any other duties they might have with other roles and their official functions and duties as Board and/or Committee Members. Members of the Board shall be permitted spousal independence in circumstances where the Member’s domestic partner is a University employee or student. Such relationships should be reported when completing the Conflict of Interest/Duty Declaration.

3.1.4 Internal Board members who are members of bargaining units are

required to absent themselves from discussions of labour issues pertaining directly to their bargaining unit, and from votes on matters pertaining to their contract or compensation.

3.1.5 Temporary Leaves of Absence from the Board and/or Board

Committees

Temporary leaves of absence may be instituted in the following circumstances:

3.1.5.1 Where a board member is also a member of a collective

bargaining unit which is participating in job action against the University (i.e., labour dispute); and/or

3.1.5.2 A Board member has undertaken formal action against the University. The Board reserves the right to invoke additional action(s) as per Section 6 – Breaches (below), dependent on the specific nature of the action undertaken.


4.0 Disclosure and Process for Resolution

4.1 Each Board and Board Committee member shall complete and submit, at

least annually, to the University Secretary a Disclosure of Interest form listing personal interests which would give rise to a conflict (real, potential or perceived), direct or indirect, with the Board or Board Committee member’s duties to the University. Such disclosure shall describe the nature and extent of the conflict. If a Board or Board Committee member is uncertain whether a conflict exists, he or she shall err on the side of disclosure.

4.2 If any Board or Board Committee member believes that another Board or Board Committee member has a conflict, the former shall disclosure the potential conflict to the University Secretary at the earliest opportunity. Such disclosure shall describe the nature and extent of the conflict. In such cases, the Chair of the Board or Board committee will discuss the matter with the member considered to have a conflict for determination of whether a conflict exists.

4.3 The completion and submission of a Disclosure form does not negate the

responsibility of the Board or Board Committee member to declare conflicts of interest at the beginning of each meeting at which a matter which may give rise to a conflict is the subject of consideration. If a Board or Board Committee member fails to declare a conflict at a meeting at which a matter which may give rise to a conflict is subject of consideration, the Chair shall disclose the conflict, if known. The disclosure of the conflict of interest shall be included in the minutes of the meeting in question.

4.4 Services offered by the University to the general public, to which a

Board or Board Committee member subscribes, shall not, in and of itself, constitute a conflict of interest (e.g., use of athletics and recreational facilities).

4.5 An interest of a Board or Board Committee member which is so remote

or insignificant in its nature that it cannot reasonably be regarded as likely to influence the member shall not constitute a conflict of interest.

5.0 Quorum

Where the number of Board or Board Committee members who, by reason of the provisions of these rules, are disqualified from voting in a meeting is such that at the meeting there are not sufficient members to constitute a quorum, then the remaining members shall be deemed to constitute a quorum, provided the number is not less than one third of the voting membership.


6.0 Breaches

A breach of this policy, or the occurrence of an egregious or prolonged conflict may result in consequential measures (up to and including removal from the Board or Board Committee). Such consequential measures shall be determined by the Board (provided that consideration of the removal of a Board member shall be on thirty (30) days’ notice to the Board member. After thirty (30) days’ notice to the Board member, the Board, by a resolution passed at a meeting at which at least two-thirds of the members of the Board are present, may declare vacant the seat of such member.) In the case of a breach by a Board Committee member, such consequential measures shall be determined by the Board.


APPENDIX A BOARD OF GOVERNORS

ACKNOWLEDGEMENT AND UNDERTAKING REGARDING CONFLICT OF INTEREST OR DUTY

Trent University Board of Governors and Board Committees

GENERAL UNDERTAKING

I acknowledge that, as:

a) A Board member on the Board of Governors of Trent University (the “Board),

and/or b) As a Committee member of a Committee of the Board of Governors (a “Board

Committee”); I have read the relevant Board policy documents pertaining to Board member and Board Committee member conflict of interest or duty. I acknowledge that I must adhere to the highest level of conduct in carrying out my duties and responsibilities to the University, including acting honestly, in good faith and in the best interests of the University. I acknowledge that, in carrying out my duties and responsibilities to the University, my obligation is to act in accordance with this Acknowledgement and Undertaking and with relevant University by-laws and policies, as applicable, while offering my perspective as an individual derived from my personal and work experience. For greater certainty, I acknowledge that the obligations of confidentiality arising out of such fiduciary obligations override any perceived conflicting obligation(s) I may have to report confidential information to others. PREAMBLE A real, potential or perceived conflict of interest or duty of a Board or Board Committee member arises where financial, professional or personal considerations may compromise, or have the appearance of compromising, the judgement of a Board or Board Committee member in carrying out his or her duties as a Board or Board Committee member, as the case may be. As a Board or Board Committee member you may be considered to have a conflict of interest or duty: (i) when you hold a personal interest, whether direct or indirect, that you are

aware of and in the opinion of a reasonably informed and well-advised person is sufficient to put into question your independence, impartiality, and objectiveness that you are obliged to exercise in the performance of your duties as a member of the Board of Governors or a Board Committee (as applicable); or


(ii) when you appear to have, in the opinion of a reasonably informed and well-advised person, a personal interest, whether direct or indirect, that is sufficient to put into question your independence, impartiality, and objectiveness that you are obliged to exercise in the performance of your duties as a member of the Board of Governors or a Board Committee (as applicable).

Refer to Appendix B for examples of real, potential or perceived conflicts of interest. To assist in identifying real, potential or perceived conflicts of interest and, in so doing, to ease the operation of the Board of Governors and its Committees in the conduct of their work, all members of the Board of Governors and its Committees are asked each year to review Special Resolution IV.3 – Board of Governors Conflict of Interest or Duty, and to disclose any obligation, commitment, relationship or interest that may conflict or may be perceived to conflict with their duties as a member of the Board of Governors or a Board Committee. In requesting this information, the University acknowledges its responsibilities to protect the privacy of personal information. Personal information that you provide in completing the form below is collected under the authority of the Trent University Act (1962-63). It is collected for the purpose of administering the conflict of interest Provisions in By-law No. 1 of Trent University. At all times information collected will be protected in accordance with the Freedom of Information and Protection of Privacy Act (“FIPPA”). If you have questions about the collection, use and disclosure of personal information, you are encouraged to speak directly with the Chair of the Board of Governors or to the University Secretary.


DISCLOSURE OF CONFLICT OF INTEREST FORM FOR COMPLETION BY

MEMBERS OF THE BOARD OF GOVERNORS AND BOARD COMMITTEES SUBMIT THIS FORM TO: University Secretary A direct or indirect conflict with my duty as a member of the Board of Governors or a Committee of the Board of Governors may arise because: ___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

___________________________________________________________________________

Acknowledgement and Undertaking I confirm that I have read, understand and agree to abide by By-law No. 1, Section 38 – Conflicts of Interest – and Special Resolution IV.3 – Board of Governors Conflict of Interest or Duty, and that I have disclosed all real, potential or perceived conflicts to the best of my knowledge. Dated this ________ day of ____________________, 20___. Signature: __________________________________________ Please print name: ___________________________________


APPENDIX B Examples of Types of Conflicts/Scenarios

The following examples are intended to guide board members in situations where they believe there is a potential conflict of interest, and to raise awareness of potential circumstances where others may perceive a board member to be in conflicts of interest or duty. Under any circumstances, the board chair and vice chair are available for advice and consultation to any board member who has concerns or uncertainty about the carrying out of his or her responsibilities as a board member. Category

Conflict of Interest Conflict of Duty Financial Non-Financial

Actual

Governor is a partner in a business tendering for a contact with the University.

Governor’s former partner owns a business tendering for a contract with the University.

Governor is an employee of the University. The Board is discussing upcoming collective bargaining negotiations/agreement ratification.

Potential

Governor owns shares in a start-up company which intends to provide services in the post-secondary education sector.

Governor’s friend (or family member) is a senior employee of the University and is likely to be considered for a promotion (as approved by the Board) in the future.

Governor is also on the local municipal council. The University Board is considering a partnership with that municipality or an affiliated body.

Perceived

Governor is widely known in the community as a partner in a local firm which is a key contractor to the University, but has divested him/herself of her stake in the business.

Governor’s cousin (with whom he/she has little contact) is active in a community group opposing a University initiative.

Governor is the local mayor and also sits on the board of a local community college. There are no current conflicts at this time but a perception of conflicted duties may arise in future.


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