The Trent University Board of Governors held its fourth regular meeting of the academic year on March 28, 2025, at the Peterborough campus, featuring highlights of leadership and community engagement at Trent University.
In his opening remarks, Board chair Doug Kirk '70, recognized Ken Armstrong, former member of Trent University's Board of Governors, Trent School of Environment director Dr. Stephen Hill, and Canada research chair Dr. Naomi Nichols as recipients of the prestigious King Charles III Coronation Medals, awarded in honour of their outstanding community contributions.
Chair Kirk also highlighted Trent's 2025 honorary degree recipients, to be celebrated at convocation ceremonies in June. Honorary degrees will be bestowed upon Deepa Mehta, award-winning filmmaker; Claudette McGowan, globally recognized technology and cybersecurity leader; Alice Olsen Williams '69 (Otonabee College), internationally acclaimed Indigenous artist; and Zabeen Hirji, the first South Asian woman to reach the C-Suite of a TSX-100 company and an advocate EDI in the workforce.
Demonstrating Leadership in Community, Indigenous Relations
Julie Davis, vice-president of External Relations & Development, presented the Peterborough Community Relations Annual Report, as well as the Indigenous Community Relations Annual Report, both showcasing the role Trent plays in enriching the fabric of the Peterborough and Durham regions.
The Peterborough Community Relations Report emphasized Trent's significant economic, social, and cultural contributions, with a local economic impact of over $930 million annually and support for 8,395 local jobs. Students contribute over $109 million annually to the city, while alumni generate an estimated $1.5 billion in provincial economic impact. Faculty, staff, and students contributed nearly 23,000 volunteer hours to 260 local organizations. Trent's co-op programs placed 95 students with 43 regional employers this past year, and 43 local organizations hosted projects through the Trent Community Research Centre, tackling challenges such as homelessness and healthcare access. Partnerships with the City and County of Peterborough are further strengthened through initiatives such as the Explore the Boro scavenger hunt and Trent Giving Day.
The Indigenous Community Relations Report highlighted Trent's engagement with Treaty 20 and Williams Treaty Nations, the Métis Nation of Ontario, and urban Indigenous communities. Ongoing dialogues with chiefs, councils, and consultation officers are informing important initiatives and projects at Trent, such as Gidigaa Migizi College and the University Green Network. This past year, Trent led several initiatives that reflect the University's commitment to Indigenous education, reconciliation and visibility on campus, including building a new Tipi and Medicine Garden at Trent Durham GTA, installing a new cornerstone at Champlain College recognizing the Michi Saagiig Anishnaabeg, and expanding Indigenous ceremonial participation in convocation. The report also highlights the President's Taskforce, which is shaping a new 10-year strategy to advance Truth and Reconciliation, building upon initiatives like the Indigenous course requirement, Elders & Traditional Peoples Gathering, and Indigenous Women's Symposium to promote cultural exchange at Trent.
New Vice-Chairs
Trent University's Board of Governors approved the appointments of Michael Lavallée and Jaime McKenna '97 as vice-chairs. Vice-chairs Lavallée and McKenna will provide critical leadership as Trent embarks on key initiatives, including the development of the Seniors Village, Gigidaa Migizi College and new Otonabee College residence. Their leadership will help guide Trent in realizing its vision for growth, sustainability, and community impact.
Michael Lavallée has held various leadership roles since joining Trent's Board in 2021, including chair of the Finance & Property Committee. As vice-chair of the Board, he will provide valuable leadership on the development of the long-term care home at Trent, drawing on over two decades of expertise in the Canadian seniors housing sector. As CEO of Seasons Retirement Communities, he has guided the company's growth into one of Canada's top 12 seniors housing companies. A former vice president of Operations at Chartwell Retirement Residences, Vice-chair Lavallée is a noted expert and speaker on resident quality of life and care. He holds the ICD.D designation and has served on industry boards in Ontario and Alberta.
Jaime McKenna '97 has been a member of the Trent Board since 2020 and currently serves on the Audit & Investment Committee. Vice-chair McKenna is the president of Fengate Real Estate, leading all aspects of Fengate's real estate group, overseeing a $15-billion portfolio with a pipeline of over 25,000 residential units and 5 million square feet of industrial space. She also held the position of 2024/25 Trent University School of Business CEO in Residence, providing guidance and mentorship to students as an accomplished executive. Vice-chair McKenna's experience in investment, development, and financial governance and as a Trent alum will benefit several student-facing portfolios and the student experience.
"A" Credit Ratings
Trent University received a credit rating score from Moody's Canada Inc. In recognition Trent's track record of strong fiscal performance and prudent financial management, Moody's assigned an Indicative Baseline Credit Assessment of a1 and an Indicative Issuer Rating of Aa3, with a stable outlook.
Approval of 2025/26 Operating Budget
The Board reviewed and approved the 2025/26 operating and ancillary budgets as recommended by the Finance and Property Committee. The 2025/26 budget includes budget reduction strategies along with new strategic investments to ensure the University's financial sustainability. These measures reflect Trent's careful balancing of cost management and strategic investment to support the University's ongoing priorities and long-term financial health.
Building a Connected Campus
An update on capital projects at Trent featured the start of work on Gidigaa Migizi College and the Otonabee College residence, with replacement parking lot construction set to be completed by August 2025. Important rehabilitation work on the Bata catwalk and Faryon Bridge is carefully balancing essential repairs and modernization with the preservation of Trent's iconic heritage structures. A deck replacement for the Bata catwalk began in February and is scheduled to be completed by August, while work on the Faryon Bridge is expected to start in July.
