Clemson board of trustees approves FY2020 budget, reviews record year
Chairman McKissick reelected for third term
Clemson University’s Board of Trustees completed its summer quarterly meeting on campus last week, approving a $1.35 billion budget for 2019-20, Phase II approval of a renovation and expansion of Daniel Hall and a feasibility study for Clemson’s next capital campaign. Highlights of the budget include $16 million to fund a compensation plan featuring both cost-of-living and merit raises.
At the conclusion of the quarterly session, the board conducted a two-day retreat, taking a holistic view at the future of the University with a focus on quality, efficiency and relevance. Topics included future enrollment, tuition and budget projections, future facility needs and continuing efforts of affordability and access.
Clemson President Jim Clements highlighted a record-setting 2018-19 academic year, which included 35 national awards received by students (including three Goldwater Scholars, four National Science Foundation Graduate Research Fellowships, two Hollings Scholarships and many others), and an incoming freshman class with the highest academic profile in school history featuring an average SAT score of 1318 and ACT score of 29.3.
The University also reported a record-breaking year in fundraising, eclipsing $176 million for the first time and securing commitments for 25 gifts of more than $1 million during the fiscal year. The total includes more than $106 million in gifts, pledges and gifts-in-kind; $28 million in planned gifts, such as bequests; and $42.3 million from IPTAY annual support. In all, 35,254 members of the Clemson Family showed their support with 52,758 total gifts, which will go to support a number of initiatives, including 105 scholarships and fellowships and the creation of 67 endowments.
Additionally, competitive research expenditures topped $100 million for the first time in school history, achieving a key goal of the ClemsonForward strategic plan. Clemson continues to be successful securing large grant awards exceeding $2 million as researchers won 10 major projects worth over $33 million. In total, research and development expenditures for the past year was $213 million, up 9% from the year prior and 40% higher than five years ago.
The trustees re-elected Smyth McKissick as chair of the board for a third two-year term. McKissick is a 1979 Clemson graduate and chief executive officer of Alice Manufacturing. He has served as a trustee since 1998.