In its final meeting of the 2014-15 academic year—which will be compressed because of graduation weekend—the Board of Trustees is expected to approve the operating budget for the next fiscal year.
The bulk of the meeting is set to take place Saturday in downtown Durham at a variety of places—including the new Carmichael Building—with various committee meetings taking place Friday around the University, said Michael Schoenfeld, vice president for public affairs and government relations.
In addition to approving Duke's operating budget—which was $2.2 billion last year—for fiscal year 2015-16, the Board is also expected to sign off on a capital budget for long-term investments.
Another major event on the agenda for this weekend's meeting is a review of Duke's role in the redevelopment and rebirth of Durham—especially downtown—Schoenfeld said. The Trustees are expected to hear reports on Duke-Durham relations and on the University's Innovation and Entrepreneurship program relocating downtown this summer.
Duke has turned the Carmichael Building—which was part of an old tobacco company—into a hub that provides research and entrepreneurship opportunities for faculty. It is part of Durham's Innovation District, a 15-acre site downtown.
Faculty members who have started research programs in renovated buildings like the Carmichael Building will address the Board, as will Durham Mayor Bill Bell, Bob Geolas, president and CEO of the Research Triangle Foundation of North Carolina, and Adam Klein, chief strategist of American Underground—which is a startup incubator located in downtown Durham.
Schoenfeld explained that Bell's comments about the challenges Durham faces with issues such as poverty and crime are especially notable since he has not spoken with the Board in awhile.
The Trustees last convened in late February to approve a 3.8 percent tuition increase for next year.
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