Trent University's Board of Governors held its second meeting of the academic year on Friday, December 6, 2024.
In his opening remarks, Board Chair Doug Kirk highlighted the recent Alumni Awards reception where student governor Emma Kaszecki was honoured with the Robert W.F. Stephenson Prize for Excellence in Student Governance. Chair Kirk also shared a few words about the late Jon Grant, former chair of Trent University's Board of Governors, honorary degree recipient and governor emeritus, who passed away in late November. Dr. Grant 91 (hon) was a chair of the Bagnani Trust, and a founder and trustee of the T.H.B Symons Trust.
Board Chair Doug Kirk (left) and Trent President Cathy Bruce (right) celebrate Board Leadership Scholarship Recipient Denise Marek at the Board of Governors meeting
Board of Governors Leadership Scholarship Recipient
Chair Kirk also introduced this year's recipient of the Board of Governors Leadership Scholarship, Denise Marek, who gave an energetic talk at the meeting. A former motivational speaker and author of two books, Denise told the engaging story of her journey to higher education as a mature student and showed her gratitude for the support she has received as this year's scholarship recipient.
"Thank you for believing in me. When I applied and got the scholarship, I decided to come to Trent because you inspired me, and I will continue to work to inspire you too," said Denise. "I still have a lifetime ahead to help people."
Denise is the first student from Trent Durham GTA to receive the scholarship. She is currently working toward her Bachelor of Social Work degree, with plans to pursue work in addiction, mental health, and family issues. Supported by contributions from members of the Board of Governors, the Leadership Scholarship recognizes student academic success and reinforces students' beliefs in their academic pursuits.
Operating Plan Update
President Cathy Bruce provided an update on Trent University's 2024/25 operating plan and financial outlook, noting that the University is projecting an in-year deficit of $1.4 million. She highlighted the impact of external challenges, including federal restrictions on international study permits and fixed provincial operating grants, which have affected enrolment levels for 2024/25.
Trent had planned for a 2.9% enrolment increase, but the November count revealed a decline, leading to a projected $12.9 million loss in net tuition revenue. Thanks to careful financial management, the University had set aside $10 million in unallocated revenue and received $1.5 million in provincial financial sustainability funding, significantly reducing the impact of the enrolment shortfall.
President Bruce emphasized that Trent is actively addressing these challenges through agile strategies, including the launch of eight new programs aligned with government priorities, refined enrolment strategies, enhanced scholarships, and efficiency-focused budget modelling. She also referenced independent data demonstrating that the University is one of the most efficient universities in Ontario.
Sustainability and Energy Plan Update
Bruno Bianco, associate vice president of Facilities, gave a presentation about Trent's Sustainability and Energy Plan, noting results of the University's past efforts in reducing its carbon footprint, and reviewing the three pillars of future efforts in the plan: reducing Trent's environmental impact, fostering engagement, and showcasing sustainability leadership.
Trent achieved a 34.3 percent reduction in greenhouse gas emissions between 2007 and 2023. This progress factors in the addition of several buildings at both campuses, including the Student Centre, Health and Life Sciences (DNA) Building, and the Forensics Crime Scene Facility in Peterborough, growth at Trent Durham GTA, as well as an adjustment for grid intensities.
Waste diversion efforts reached an estimated 80 percent in 2023, with initiatives like compostable washroom bins achieving 99 percent paper towel diversion. Residence water conservation campaigns since 2007 have reduced usage by 40 percent through retrofits and education. Earlier this year, Trent's Forensics Crime Scene Facility received Canada's first Zero Carbon Certification from the International Living Future Institute.
AVP Bianco outlined the plan's ambitious goals of achieving zero waste by 2028, net-zero by 2050, and advancing the United Nation's Sustainable Development Goals, emphasizing engagement and support from University stakeholders to take positive action in campuswide sustainability initiatives.
Audited Pension Statements
KPMG LLP audited Trent University's contributory defined benefit pension plan for OPSEU Local 365 and exempt administrative staff in October 2024. The audit confirmed the Plan's financial statements fairly represent its position as of June 30, 2024, in accordance with Canadian pension accounting standards. Materiality was set at $1.8 million with a $90,000 posting threshold. As of June 30, 2024, the Plan had $196.1 million in assets and a $196.6 million pension obligation, resulting in a $0.5 million deficit.
