The St. Mary’s College Board of Trustees met on Friday, May 12, approving the conferral of degrees upon 325 baccalaureate and 21 master’s graduates. The Board also approved the FY24 operating and capital budgets and the College’s new strategic plan, The Rising Tide, to be implemented through 2026.
“The Board’s approval of The Rising Tide, the third strategic plan undertaken by the College during my tenure, sets a transformational course for the next three years,” said Tuajuanda C. Jordan, PhD, president of St. Mary’s College of Maryland. “Developed through a highly collaborative process involving students, faculty, staff, and members of the community, The Rising Tide builds on our momentum toward solidifying our position as The National Public Honors College.”
Finances
The Board approved a FY24 operating budget of $90.46 million, representing a 14.4% increase over FY23. Thanks to increased state support, higher enrollment, and increased auxiliary enterprise activity, the College's projected revenues are up 12.15% in FY24. In capital spending, the FY24 Plant Fund Capital Budget of $2.316 million and the FY25-FY29 State Capital Budget Proposal totaling $62.2 million were both approved.
Strategic Plan
As approved, The Rising Tide, the 2023-2026 strategic plan, advances four pillars, each with specific goals and key performance indicators, and an estimated budget of $6.16 million over three years. “The Rising Tide focuses on the four pillars designed to create, empower, build, and embody our unique position within the higher education landscape and to be a better resource and of service to our communities, both within and beyond the campus,” said Jordan.
Departing Board Members
Board Chair Susan Lawrence Dyer thanked outgoing board members Lawrence Leak ‘76, Alice Bonner ‘03, Douglass Mayer '04, Glen Ives, William Seale and Brayan Ruiz Lopez ’24. (Incoming board members will be announced in the near future.)
