Findlay, Ohio, Oct. 17, 2003 — The Board of Trustees of The University of Findlay met Oct. 17, 2003. Twenty-six trustees, two student representatives, one faculty representative and four staff members attended.

Fall enrollment was 4,711 compared to 4,586 last year, an increase of 125 students, or 2.7 percent. There are 430 international students enrolled. This places the University among the top few private institutions in the country in the percentage and number of international students.

Over the last four years, total enrollment has increased from 4,182 to 4,711, an increase of 529. The number of graduate students has increased from 854 to 1,281, an increase of 427. Undergraduate enrollment has increased from 3,328 to 3,430, an increase of 102.

Student housing occupancy is 1,164 compared to 937 last year, an increase of 227. The number of student contracts for the dining service has increased from 841 last year to 960 this year, an increase of 119.

There are 157 full-time faculty members and 145 adjunct faculty who began the 2003-04 academic year. Of the full-time faculty, 68, or 43 percent, are tenured, and 79, or 50 percent, hold terminal degrees in their fields.

Several items noted in the academic area included the accreditation for the master of athletic training and the occupational therapy program receiving a 10-year accreditation with no qualifications. In addition, a student retention program was initiated this fall and is off to a good start.

The operating budget for 2002-03 was balanced with a margin of $303,000.

The operating budget for 2003-04 was approved. It is projected to be balanced. The budget includes a five percent tuition increase for next academic year and a three percent salary increase, effective Jan. 1, 2004.

The University successfully completed several improvement projects during the spring and summer, amounting to a total of $4.5 million.

Investment results during the last few months have been better than market averages. The Investment Committee recommended, and the Board approved, a change in investment policy that would permit up to 10 percent of invested assets to be in liquid alternative investments.

Total private giving for fiscal year 2003 was $5.2 million.

Bruce Lee, an executive with Fifth Third Bank was appointed to the Board of Trustees to fill the unexpired term of Robert J. King, Jr., also of Fifth Third. Two former trustees, Dr. W. Terrell Jones and Dennis Foster, have resigned.

A Concert and Lecture Series will be initiated with a concert by the Toledo Symphony on Jan. 30, 2004.

Chairman of the Board of Trustees is Dr. C. Richard Beckett. Vice Chairman is Mr. Richard E. White. The trustees will meet again on Feb. 6, 2004.