KOLONIA, Pohnpei (August 13, 2014) – The College of Micronesia-FSM Board of Regents issued Actions and Directives to the college after its August 8, 2014, meeting.
After covering all items on their meeting agenda, the COM-FSM Board of Regents issued the following Actions and Directives:
- The minutes of the May 28, 2014, meeting were adopted.
- A policy on remittance of proceeds from by-products was approved.
- A policy on closed circuit television (CCTV) monitoring and recording was approved.
- All college policies are to be reviewed in five-year cycles.
- The Board approved use of $5,000 from its fundraising account to launch the Alumni Association and another 50/50 raffle and transfer of remaining funds at the end of the fiscal year to the COM-FSM endowment fund.
- The Board reviewed and deferred action on assessment of the strategic plan and Integrated Educational Master Plan IEMP to the December meeting.
- The Board conditionally approved investing cash at Citi Bank per scenario 2 (20% U.S. large stocks; 10% international stocks, 50% U.S. interim bonds) pending update from Dan Roland.
- The Board affirmed the FY 2016 budget development guidelines. Annual approval will be required only if changes are made to the standard guidelines.
- The Board approved establishment of a Board of Visitors.
- The board approved participation in John N. Gardner Institute for Excellence in Undergraduate Education (RMP) Retention Performance Management, and Foundations of Excellence and $100,000 from the fund balance in the event that technical assistance support is not realized.
- The Board approved establishment of an Institutional Advancement Office and $50,000 from fund balance to implement the grant research and writing components of the institutional advancement function.
