The University of Toledo Board of Trustees held its first meeting in a new format in September separating the committee meetings from the full board meeting.
The full board met on Sept. 27, which followed two committee meetings on Sept. 25.— Trusteeship and Governance Committee and Finance and Audit Committee — and the Academic and Student Affairs Committee met on Sept. 20.
At the regular full board meeting, Trustees approved a resolution that authorizes UToledo and the University of Toledo Foundation to enter into a loan agreement. The first use of that funding will be to purchase a new MRI machine for $2.5 million. The loan agreement would allow for up to $10 million in financing and aligned with board policy any goods or services greater than $500,000 or construction projects greater than $1 million will come before the board separately for a vote.
Another resolution authorized a line of credit for the University of Toledo Physicians from the Foundation of up to $5 million to quickly access short-term financing for working capital.
In addition, the Board voted to create committees and appoint new members to the UToledo Health Board.
The four standing committees are: Finance and Compliance Committee; Privileging/Credentialing and Safety/Quality Committee; Physician Compensation Committee, and Executive and Nominating Committee.
Dr. Stephanie Pannell, assistant professor and colorectal surgeon, and Dr. Danae Hamouda, associate professor and medical oncologist, will fill the roles on the UToledo Health Board designated for faculty members who are employed by University of Toledo Physicians. They will serve three-year terms.
Lastly, trustees voted for the president to confer degrees at commencement ceremonies planned for the 2023-24 academic year. The fall commencement for graduate and undergraduate ceremonies will take place Saturday, Dec. 16. Spring graduation ceremonies will take place over a number of days. The spring commencement for graduate students will be Friday, May 3 and for undergraduates on Saturday, May 4. Separate ceremonies for the College of Pharmacy and Pharmaceutical Sciences will be Saturday, May 4, for the College of Law on Sunday, May 5 and for the College of Medicine and Life Sciences on Friday, May 17.
