WHEREAS, the State of South Carolina by law has conferred on the Winthrop University Board of Trustees "all the power necessary for the accomplishment of the trust committed to jt,

viz.: the establishment, conduct and maintenance of a first class institution of higher education," and

WHEREAS, the Committee on Finance has reviewed a wide array of information and data related to deferred maintenance needs in auxiliaries as well as the determination of appropriate financing for those needs as well as the ongoing auxiliary maintenance needs; and

WHEREAS, the Committee has reviewed short-term and long-term on-campus housing needs, including the determination of size, scope, estimated cost, and financing strategy for new residence halls should they be needed; and

WHEREAS, each and all of the above elements will affect significantly the overall context within which the Winthrop University must carry out it its responsibilities in an age of shifting expectations of campus auxiliaries, declining public-sector provision ofresources and related challenges to organizational capacities as an aftermath of COVID-19 budget realities; and

WHEREAS, this recommendation does not support all defened maintenance needs and the University is directed to continue to monitor the annual finances;

THEREFORE, be it resolved, that the Winthrop University Board of Trustees recommends and authorizes that the University move forward with up to a $14.7M financing debt issuance plus

$3.8M in University Net Position to support deferred maintenance and improvements of the auxiliary housing and dining portfolios and the consideration of a new dining hall.


Approved this 21th day of October 2022.