1
MINUTES
FINANCE COMMITTEE
BOARD OF TRUSTEES
December 17, 2010
A meeting of the Finance Committee of the Board of Trustees of The Trustees of
Purdue University was held in Room 326, Stewart Center, West Lafayette, Indiana at
3:56 p.m. on December 17, 2010.
The following Committee members were present: Don Thompson, Chair; JoAnn
Brouillette, Gary J. Lehman and Mamon M. Powers, Jr.
Also in attendance were Trustees Berghoff, Birck, Hardin, Krach, Spurgeon and
Teykl; President Córdova, Executive Vice President for Business and Finance,
Treasurer Diaz; Senior Vice President for Business Services and Assistant Treasurer
Almond; Legal Counsel Benton; Executive Vice President for Academic Affairs and
Provost Sands; Vice Provost Dale Whittaker; Executive Director of Financial Aid Joyce
Hall; Senior Associate Director Carol Cooper and Corporate Secretary Behringer.
I. APPROVAL OF 2011-12 STUDENT HOUSING RATES: WEST
LAFAYETTE, CALUMET AND FORT WAYNE CAMPUSES.
Assistant Treasurer Almond provided the Committee with background
information on the West Lafayette campus University Residences room and board rates
for the 2011-2012 academic year. After discussion and upon proper motion duly
seconded the 2011-2012 Student Housing Rates for the West Lafayette, Calumet and
Fort Wayne campuses were approved for presentation to the full Board.
(Supporting documents and PowerPoint presentation filed with Minute Material.)
II. REPORT ON STUDENT FINANCIAL AID.
Vice Provost for Undergraduate Academic Affairs Whittaker provided system-wide
highlights of the 2009-2010 student aid report profile, which is the latest year for
which there is complete data. Purdue is dedicated to preserving student access
through need-based aid, recruiting and retaining academically talented students through
merit-based aid, and supporting a superior and diverse student body through these aid
awards. During 2009-2010, comprehensive aid programs at Purdue provided over
$729.1 million in system-wide student financial aid representing an increase of $78.1
million (12%) over the $651 million total aid provided in 2008-2009. Purdue has been
tracking the representation of Indiana’s income demography among enrolled Indiana
students on a system-wide basis. This data reveals that Indiana students at Purdue
over-represent (46%) Indiana’s family income levels of less than $50,000 (44%) and
under-represent (54%) the income levels of $50,000 and above (56%). This assures
that Purdue’s cost of education and student aid policies are favorably addressing
student access and financial need for lower income groups.