The IU Board of Trustees is IU’s governing board, legal owner and final authority, according to the IU Board of Trustee’s website.
The Board met Thursday at IU-Purdue University Indianapolis for the Finance, Audit and Strategic Planning Committee, chaired by Andrew Mohr, and the University Relations Committee, chaired by James Morris.
During the Finance, Audit and Strategic Planning Committee, the trustees approved 2015-2016 residence hall housing rates.
Approximately 12,600 IU-Bloomington students live in residence halls or in campus apartments, MaryFrances McCourt, IU senior vice president and chief financial officer, said in ?an email.
The cost of the most commonly requested room and board package at IU-Bloomington will increase by $302, or 3.2 percent.
That package includes an air-conditioned, double-occupancy room in a mid-amenity hall and a standard meal plan.
In comparison, the most commonly requested room and board package will increase by 3.3 percent at IUPUI, 2.1 percent at IU South Bend and 2 percent at IU Southeast.
The rate of increase, however, will depend on the room and board package, with the cost of rooms increasing anywhere from 0.5 percent to 4 percent and the cost of a standard meal plan increasing by $50, or 1.6 percent.
These increases depend on the room and board package chosen by the student, changing with the selection of a single rooms or larger meal plan for instance.
Increases are intended to cover depreciation, maintenance and utilities, McCourt said.
McCourt also updated the trustees on the implementation of the parking strategic plan.
In October 2013, the trustees endorsed the recommendation that IU maintain control of its parking operations rather than allowing a third party to take control.
In February 2014, the trustees endorsed the Internal Parking Strategic Implementation Plan.
“This endorsement was based on disciplined implementation of a clearly articulated, strategic parking plan with identified economic benefits,” McCourt said. “The university parking committee has worked collaboratively with unwavering commitment to deliver on ?that plan.”
McCourt said the university parking committee has standardized parking citations for parking violations on the IU-Bloomington and IUPUI campuses and has adopted a long-term, university-wide repair and maintenance plan for parking assets.
Furthermore, the university parking committee has established a parking management peer group that includes parking management representatives from each campus.
This parking management peer group has developed long-term, university-wide financial models for parking assets, among other accomplishments.
The trustees also approved the issuance of tax exempt debt, including the issuance of tax exempt bonds, to fund two ?projects.
These projects include the expansion of campus housing at IUPUI and phase two of renovations to Read Residence Center.
The expansion of campus housing is estimated to cost $45.2 million.
The phase two of renovations to Read are expected to cost $20 million, according to the agenda.
Phase two of renovations to Read will include adding new, more easily accessible student rooms, adding new closet and storage layouts, installing new central air conditioning and updating fire protection systems, according to the agenda.
The next Board of Trustees meeting is April 16-18 on the Bloomington ?campus.
