The Ithaca College Board of Trustees convened for its spring meeting on campus Thursday through Saturday, May 14-16. In addition to attending to college business, trustees took the opportunity to recognize and connect with students, faculty, and staff at events throughout the Commencement Weekend.
Approval of FY27 Budget
The board fully approved the recommended $213.2 million operating expense budget for fiscal year 2026-27. This includes an anticipated $4.0 million deficit, which is in line with progress toward reaching budget neutrality for FY 28.
Included in the budget approval is an additional $16.9 million in capital expenditures to ensure that campus maintenance and renovation needs are met. Trustees had the opportunity during the meeting to tour the Quads residence halls to observe renovation work that has already begun.
While the college is projecting that the fall 2026 enrollment target will be short by roughly 35 incoming students, net tuition revenue will meet the budgeted level because of a lower discount rate.
Meanwhile, the college will continue implementing the administrative review initiatives started in FY26 to aid in aligning expenses with revenue, eliminating the remaining deficit and achieving a balanced budget by FY 28.
Trustees are sincerely grateful to our faculty, staff, and students for the work being done across the college to help build for a better, more efficient, and more resilient institution.
Faculty Awarded Promotions
The Board was proud to approve the promotion of one faculty member to associate professor and 14 to professor. We applaud these faculty and thank them for their continuing commitment to enriching the education of our students.
Welcoming New Trustees
Seven new members were elected to the Board, each of whom brings valuable perspectives and experience:
- Biology major Sara Valerio ’29 will serve for a two-year term as the student trustee. A graduate of Greenwich High School in Scarsdale, NY, she has been a member of the Sister2Sister student organization and worked as an animal handler at Happy Tails K-9 Hotel.
Serving for the next four years as term trustees will be:
- Brian Beeler, parent ’27, co-founder and Managing Director of Zoi Capital, a venture capital firm with a focus on investing in digital/AI healthcare companies.
- Michael Egan ’84, co-founder, Vice Chairman, and Chief Credit Officer at Monroe Capital, who along with his wife and fellow alum Tracy ’84 helped fund construction of the Egan Family Track & Field complex on campus.
- Christopher Lee ’10, Vice President of Global Talent Development at Dell Technologies, who had served as the student trustee from 2008-10.
- Femi Ogundele, M.S. ’11, the Associate Vice Chancellor and Dean of Enrollment Management and Undergraduate Admissions at UC Berkeley.
- TJ Scallon, parent ’28, an advisory partner within KPMG’s Internal Audit and Enterprise Risk practice, providing audit and advisory services to global financial institutions.
- Brian Steele ’03, Managing Director and President of Clearing & Securities Services with the Depository Trust and Clearing Corporation (DTCC).
Stepping down upon the conclusion of their terms were David Fleisher ’91, parent ’20, and Peter Taffae ’82, along with student trustee Mureen Doherty ’26, all of whom have made an indelible mark with their commitment and dedication to serving Ithaca College.
Plenary Sessions
The Board held several plenary sessions intended to provide trustees with insights into current issues of importance at Ithaca College and in higher education.
Senior Vice President for Finance and Administration and CFO Tim Downs, Associate Vice President for Business and Finance Marc Israel ’05, and Vice President for Enrollment Management Rock Hall updated trustees on enrollment, the budget, and the work being done to further align people, programs, and infrastructure with the size of the student body in order to balance revenue with expenses.
David Attis, Managing Director of Research Advisory Services at the higher education consulting firm EAB, presented on the role trustees play in strategic planning. He was followed by Provost and Executive Vice President for Academic Affairs Melanie Stein, who gave updates on the status of the strategic planning process at the college as well as on the status of reaccreditation by the Middle States Middle States Commission on Higher Education and on new academic initiatives.
Board members got an inside look at campus life outside of academics from staff and students alike. Providing their perspectives to trustees at a session were Stanley Bazile, Vice President for Student Affairs and Campus Life; Luca Mauer, Executive Director for Student Equity, Inclusion, and Belonging; Aaron Bouyea, Director of Intercollegiate Athletics and Campus Recreation; Mish Lenhart, Director of the Office of Student Engagement; and Elyse Nepa, Assistant Director for Clery Act and Prevention Education in the Office of Public Safety and Emergency Management. Lenhart then conducted a Q&A with two students: biochemistry major and student-athlete Sierra Houck ’27 and integrated marketing communications major and Campus Life Award winner Ethan Beer ’26.
Trustees continued their engagement with members of the campus community over lunch, as they were joined by the President’s Cabinet in conversation with the leadership of the Tri-Council, comprising the three campus constituency groups: Faculty Council Chair Dennis Charsky, Professor and Program Director for Communication Strategy and Design; Staff Council Chair Cliff-Simon Vital, Director of the Unity Center; and incoming Student Governance Council President Eva Horst ’27, an advertising, public relations, and marketing communications major.
AI at IC
Trustees also continued to explore how artificial intelligence is being used at the college both administratively and academically. Joining Provost Stein and Senior Vice President for Strategic Services and Initiatives David Weil ’87, M.S. ’89 in presenting to the Board were Amie Germain, Associate Professor of Occupational Therapy and Co-Director of the Center for Faculty Excellence; Jenna Linskens, Director of the Center for Instructional Design and Educational Technology; Eber Beck, Assistant Professor of Physical Therapy; and Susan Swensen, Professor of Biology and Innovation Scholars Program Director in the School of Humanities and Sciences.
Last but certainly not least, trustees had the opportunity to observe and take part in many Commencement-related activities, including the Senior Splash, the Campus Life and Unity Center Senior Leadership Awards ceremonies, the Graduate Hooding and Commencement ceremony, Saturday night’s awe-inspiring Commencement Eve Concert, and Sunday’s undergraduate Commencement ceremony. We offer our heartfelt congratulations and a warm welcome to our newest alumni—the Ithaca College Class of 2026!
We thank you for your dedication to the college and to one another, and we hope that you experience an abundance of rest and renewal during the summer months.
Sincerely,
John Neeson ’84
Chair, Board of Trustees
Dr. La Jerne Terry Cornish
President