During its regular monthly meeting on May 22, the Cayuga Community College Board of Trustees passed three resolutions regarding the status of several capital projects as well as budgetary expenditures.
In the first, the board reaffirmed its commitment to the Schwartz Family Performing Arts Center slated for construction on State Street in Auburn.
In the second, the board put on-hold all capital projects, except the Schwartz theatre, the build out of storefronts at the Fulton Campus at River Glen, and a voice-over IP phone system at the Auburn Campus, which has already received capital funding from the state. This moratorium will remain until the board has approved a balanced operating budget, outside loans have been repaid, and the unallocated fund balance is above 5 percent.
The third resolution calls for board approval on any expenditure over $10,000, which was not already included in approved annual operating budget.
The full text of the three resolutions is included below.
Affirmation of Support for the Schwartz Family Performing Arts Center
Whereas, Cayuga Community College has been engaged for the past few years in planning and designing the Schwartz Family Performing Arts Center in downtown Auburn; and,
Whereas, the Schwartz Family Performing Arts Center will serve Cayuga students as an educational resource and will be a Summer venue for the Finger Lakes Musical Theatre Festival, which anticipates drawing more than 150,000 visitors annually to Central New York, as one of the top destinations for musical theatre in the nation; and,
Whereas, this $7.72 million capital project is fully approved by New York State with its 50% share of capital funding in place; and,
Whereas, the Finger Lakes Musical Theatre Festival has funds committed to this project, covering the entire 50% local share of funding;
Now, therefore, be it resolved, that the Cayuga Community College Board of Trustees does hereby affirm its commitment to the Schwartz Family Performing Arts Center as a critical capital project for the College in partnership with the community. The Board of Trustees does hereby request that the City of Auburn complete the SEQRA process, and it directs that the College continue to make appropriate progress to bring the project to fruition.
Hold on Specified Capital Projects
Be it resolved, that the Cayuga Community College Board of Trustees does hereby direct the College Administration to place on hold capital projects other than the downtown theatre, and the River Glen campus expansion in Fulton, and the VoIP telephone system in Auburn until the Board has approved a balanced operating budget, outside loans have been repaid, and the unallocated fund balance is above five percent.
Budget Expenditure Limit
Be it resolved, that the Cayuga Community College Board of Trustees does hereby direct that any expenditure greater than $10,000 that is separate from and not part of an already approved annual operating budget must be presented to the Board of Trustees for advance approval. In the event of an emergency, the College President or Vice-President for Administration and Treasurer must obtain approval of the Chair of the Board of Trustees and the Chair of the Finance Committee before such expense. The Vice-President, in the monthly budget report, will include any other budget variances.