Trustees Meet This Weekend

The Board of Trustees will convene on campus this weekend to discuss the school’s budget, focusing especially on need-blind admissions and the upcoming capital campaign. They will also discuss faculty and staff salaries, financial aid funds and the tuition budget. The Trustees will receive reports on the endowment, the upcoming capital campaign, Commons renovations and the expansion of the Addison Gallery of American Art, according to Nancy Jeton, Special Assistant to the Head of School. On Thursday, the Trustees arrived on campus. Throughout Thursday afternoon, the Trustees divided into their individual specialized committees to discuss reports. From Friday to Saturday, the committee groups will present their discussions to the full Board of Trustees. The Compensation Committee will meet to determine salaries for faculty and staff, based on the rate of inflation and a comparative analysis of faculty salaries at peer schools. The Finance Committee, led by Chief Financial Officer Stephen Carter, will meet to discuss all matters relating to the school budget, including financial aid, the endowment spending rate, faculty compensation and the tuition rate. The ongoing capital campaign, which includes Andover’s recent need-blind financial aid policy, will be discussed in the Academy Resources Committee, led by Secretary of the Academy Peter Ramsey. This committee will discuss a goal for the capital campaign, which has yet to be named. Items on the committee’s agenda include the cost and affordability of financial aid, global fundraising initiatives and feasibility. The capital campaign is currently still in its “silent phase,” during which the Trustees set a preliminary fundraising goal. When Phillips Academy has reached around 40 percent of the goal after this silence phase, the Trustees will then make the campaign public, Jeton said. When the Board of Trustees last met during the fall, Director of the Addison Brian Allen announced to the board that $20 million of the $30 million goal for the Addison renovations had already been raised. The Building Committee will report to the Trustees on the Addison and Commons renovations. The Trustees will also vote on the proposed land swap with the Town of Andover, which would allow Phillips Academy to acquire property near Borden Gym and Graves Hall. The Composition of the Student Body Committee, a temporary working group, will also report to the Trustees this weekend. Dean of Admission Jane Fried, the committee will give the board its feedback from students and faculty members from meetings that the committee has held on campus this year. On Thursday evening, the Board of Trustees met with Head of School Barbara Landis Chase in an executive session for dinner. She briefed the Trustees on the current situation on campus and presented them with main initiatives for this winter’s meeting. Tonight the Board of Trustees and faculty will join together at a reception at Chase’s house, followed by a dinner on Abbot Campus. During this dinner, the board will award faculty members with instructorships and foundations, which are financed by generous endowments for extra faculty stipends. On Saturday morning, the Board of Trustees will have breakfast with members of Student Council and The Phillipian.