Regents also hear report on bond sale for new parking structure
WKU’s fall enrollment is up 209 students, or 1 percent, at 20,277.
That was the report Brian Meredith, WKU’s Chief Enrollment and Graduation Officer, gave to the WKU Board of Regents Friday morning (Oct. 28) at its fourth quarterly meeting.
Dr. Meredith said there were several positives in the fall 2016 data, including:
- A 2.3 percent increase in first-time, first-year students
- A 6.6 percent increase in transfer students from the Kentucky Community and Technical College System
- 48 percent of first-time, first-year students entered WKU having already earned college credits
- Kentucky students represent 77 percent of the total student body while 6 percent are international students
Regents also heard a report on the sale of bonds to finance a new parking structure and to refinance bonds sold in 2009.
Ann Mead, Senior Vice President for Finance and Administration, said a favorable rating and sale at a true interest cost of 2.98 percent will mean additional savings for the university.
When coupled with lower than anticipated bids, Chief Facilities Officer Bryan Russell said an additional floor will be added to the structure and still stay within the original $10 million scope. The now seven-floor parking structure will result in a net increase of 601 parking spaces, Russell said.
The bonds will be repaid through a $30 per semester student fee.
A 2.26 percent true interest cost on more than $27 million in refinancing bonds will mean a total net savings of $2.5 million, or nearly 9 percent, Mead said.
In other business, the Board:
- Appointed Regent Gillard B. Johnson III of Nicholasville as Vice Chair, filling the unexpired term of Dr. Melissa Dennison of Glasgow. Dr. Dennison’s term as regent had expired.
- Approved faculty emeritus appointments for Jerry Gotlieb (Marketing), Keith Andrew (Physics and Astronomy), Charles Anderson (Agriculture), James Martin (Agriculture), John Hagaman (English) and Cassandra Pinnick (Philosophy and Religion).
- Approved the designation of President Emeritus for WKU President Gary A. Ransdell, who will retire from the presidency on June 30.
Contact: Bob Skipper, (270) 745-4295