Initiatives to help students who rely on need-based financial aid, including internship support and greater choice in housing, highlighted the meeting of the Kenyon College Board of Trustees on Friday in San Francisco.
A 5.8 percent increase in financial aid is also part of an operating budget of $129,620,000 that represents an increase of 3.6 percent over the budget for the current fiscal year.
Trustees also approved a 2.5 percent increase to the salary pool for administrators, faculty, and non-union staff for the next fiscal year. For the second year, the College will evaluate individual salaries in response to the salary study conducted by Chernoff Diamond & Co. Pay increases for non-exempt employees will vary depending on job classification and length of service. Pay for employees in unions is dictated by negotiated contract.
President Sean Decatur, in a statement to the board, described his ongoing efforts to gather input from alumni, parents, and friends of the College in order to craft a strategic plan. “A vision is emerging of the Kenyon of 2020 as an institution that puts academic excellence in the liberal arts tradition at its core,” Decatur said. The College, he said, must embrace the challenge of applying the lessons of the liberal arts to solve contemporary problems and prepare its students to become “creative leaders and innovators in a range of fields.”
Board chair Barry Schwartz ’70 said the annual budget expresses the growth and stability of the College as it faces the challenges of providing an elite liberal arts education to students who represent the full spectrum of the culture and society.
Points of interest in the budget and in other action taken by the trustees:
Increases in the employee portion of the health insurance premium for the Basic Plan will range from a low of $4 per month (Single Plan, low-salary tier) to $20 per month (Family Plan, high-salary tier). Increases in the employee portion for the Premium Plan will range from $12 per month (Single Plan, low-salary tier) to $47 per month (Family Plan, high-salary tier).
The 2014-15 Fringe Benefit Cost Sheet will be posted on the Human Resources web page later in the semester. Employees may contact the Human Resources staff at any time with questions regarding health insurance and other benefits.