Audit highlights SVSU’s financial standing

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The SVSU Board of Control held a general meeting on Monday, Oct. 30, that covered a wide range of topics.

Board members approved the Annual Financial Audit and the Federal Awards Audit for Fiscal Year 2016-2017 resolution. No problems were found with the audit.

The budget included costs for the new College of Business and Management building and plans for renovations to both Brown Hall and Science East and West.

SVSU President Don Bachand was happy with SVSU’s financial standing.

“A lot of universities all across the United States are facing financial problems because their business models, and the way they do business, is different than the way we do business,” Bachand said. “They spend money that they don’t have, and they don’t have a plan to get themselves back on track. We know what the problems are. … But at this point, we’re confident, we’re optimistic and we’re working hard.”

The meeting began with the Board congratulating award winners from the 32nd Annual Faculty Award Banquet on Oct. 13.

The Board then recognized Student Association President Lauren Kreiss for SA’s success with Battle of the Valleys fundraising. The organization raised over $32,000 for the Saginaw-based Mustard Seed Shelter in one week.

“This is such a significant contribution,” said President Donald Bachand. “It exemplifies what our student body is about.”

The Board also honored employees from Dining Services and ITS for their contributions to campus services.

Bachand ended his remarks on a positive note regarding student recruitment and retention.

“I know we’re always interested in how we’re doing for recruitment,” Bachand said. “The numbers are much different from last year. We’re ahead of last year already.”

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