Archive for June, 2006
June 30, 2006
BERT POOLE has joined Guilford’s athletic department as head men’s tennis coach. He succeeds WILLIAM FICKES, who went 8-12 in two seasons at the helm and remains on staff as an assistant men’s basketball coach. Poole is Guilford’s fifth head men’s tennis coach since the school joined the NCAA Division III ranks in 1991.
Poole has a P1 rating from the United States Professional Tennis Association and brings over 16 years of experience as a tennis professional to his first college coaching position. He served as director of tennis at Starmount Forest Country Club in Greensboro from 1995-2002, where participation in junior and ladies tennis programs doubled during his tenure. Poole developed training programs for nationally ranked, college-bound students in his two years as the tennis professional for the PGA National Resort and Spa in Palm Beach Gardens, Fla. He also managed operations as director of tennis at Indian River Plantation Resort in Stuart, Fla., and at Nashboro Village Athletic Club in Nashville, Tenn.
Poole grew up in Aston, Pa., just outside of Philadelphia, and graduated from Sun Valley High School. He resides in Greensboro, where he owns and operates an investment company.
June 30, 2006
ALEX STOESEN, professor of history emeritus, recently traveled to Pickering, Ontario, Canada, to join more than 40 members of his late wife’s family at a biennial reunion. The family are the descendants of a couple who met at Guilford College in the late 1880s, married and settled in Ontario. (The grandmother of Stoesen’s wife, Carol, grandmother was a Quaker from Belvedere, N.C.)
Included in the family is an artist and architect who built an ultralite airplane to convoy geese to Virginia, and who also built a totally underground house. He was awarded the Order of Canada. Also attending the reunion was an archaeologist who works in Egypt and Ethiopia, with whom Alex enjoyed several hours of good conversation.
The family name is Cronk; they were joined at the last reunion on Martha’s Vineyard by Walter Cronkite, who is also a member of the family.
June 26, 2006
Four Advantages of 529 College Savings Plans: What Every Family Should Know
To many parents, saving for their children’s college education is as important as saving for their own retirement. But where retirement saving is usually addressed by regular contributions to employer-sponsored retirement plans, saving for college takes planning and the willingness to find the needed dollars.
What’s more, it’s a decision that can be easily deferred. “The biggest mistake parents make in saving for college is putting it off,” says Sidney Kess, a noted New York-based financial consultant. “And that’s usually because right now, today, parents have so many difficulties making ends meet.”
Most financial experts agree that one of the smartest ways you can save for future tuition is through a state-sponsored 529 college savings plan. These plans generally invest contributions in preset portfolios geared to the child’s age and time horizon to college entry. (Note, however, that returns for 529 plan accounts are not guaranteed, and you could lose money on your investment.) Every state offers some variation of a college savings plan. These plans generally share four key advantages you should consider.
1. Tax-free investment income. Any earnings in 529 plans have the opportunity to grow and compound, free of federal tax. Withdrawals are also federal income-tax-free, provided the monies are used for qualified educational expenses, such as tuition, fees, books and eligible room and board costs. (The law allowing federal income tax-free qualified withdrawals is set to expire on Dec. 31, 2010. Congress may or may not extend the law beyond this date. If monies are withdrawn for nonqualified purposes, the investor would pay federal and state income tax and an additional 10 percent federal tax.)
2. State income tax benefits. Although you can open a 529 college savings plan account in a state other than your own, consider all of the tax advantages your home state may offer. It may be the best choice, particularly if you live in a high tax state. Generally, you’ll find these types of state income tax benefits: tax-free treatment of qualified withdrawals from the state’s own plan; tax-free treatment of qualified withdrawals from other states’ plans; and a possible state tax deduction or other incentive to contribute. More than 20 states give state income tax deductions on these contributions; these include unlimited deductions in several states. (Tax credits or deductions taken may have to be repaid if a nonqualified withdrawal is taken. State and local tax laws will vary, so you should consult a tax advisor regarding your particular situation.)
3. Plan-to-plan transfers. Account owners usually have the ability to transfer assets from different states’ plans once every 12 months (or at other times when certain beneficiary changes are made). But if assets in an account opened under a resident state plan offering a state tax deduction are rolled over to another state’s plan, there may be a surprise tax bill down the road. Some states recapture deductions on rollovers or tax rolled-over earnings.
4. Control. Unlike some other college savings vehicles, the account owners maintain control over all of the funds in the 529 plans, and these plans can also offer gift and estate tax planning benefits. (Custodial accounts within a 529 plan may have restrictions.) You also can generally choose from a number of investment options. Of course, depending upon the investments available, there may be some investment risk, and investments are not guaranteed.
Also, many state-sponsored college savings plans offer payroll deduction, making it easier to fund an account. Simply setting up the account gives you a “psychological commitment” to saving for college, says Kess. He also offers another word of advice to parents as they fund their account. “Patience is key,” he says. “Raising a child’s college fund is like raising the children: Yes, there will be some ups and downs, but you have to be patient and do everything you can for a good outcome in the end. You have to look at this over the long haul.”
The tax information herein is not intended to be used, and cannot be used, by any taxpayer for the purpose of avoiding tax penalties. It was written to support the promotion of 529 savings plans. Taxpayers should seek advice based on their own particular circumstances from an independent tax advisor.
Consider the investment objectives, risks, charges and expenses carefully before investing in any 529 Plan. For details on plans managed by TIAA-CREF Tuition Financing Inc., visit www.tiaa-cref.org for a disclosure booklet containing this information. Read it carefully.
Before investing in a 529 plan, you should consider whether the state you or your designated beneficiary reside in or have taxable income in has a 529 plan that offers favorable state income tax or other benefits that are only available if you invest in that state’s 529 plan.
The law allowing federal income tax-free qualified withdrawals is set to expire on Dec. 31, 2010. Congress may or may not extend the law beyond this date. Before investing, you should consider whether the state you reside in offers a 529 plan with favorable state income tax or other benefits that are only available if you invest in that state’s 529 plan.
TIAA-CREF Individual & Institutional Services LLC and Teachers Personal Investors Services Inc. distribute securities products. TIAA-CREF Tuition Financing Inc. manages a number of state-sponsored 529 programs.
© 2006 Teachers Insurance and Annuity Association — College Retirement Equities Fund (TIAA-CREF), New York, N.Y. 10017
June 26, 2006
Introduction of Generic Zocor® and Impact to the Prescription Drug List (PDL)
UnitedHealth Pharmaceutical Solutions is committed to providing you with an affordable pharmacy benefit and making prescription medications more accessible and affordable for members. One way we do this is through the thoughtful management of our PDL.
Our Standard PDL strategy allows us to make tier placement decisions based on clinical, economic and pharmacoeconomic factors — not simply on whether a drug is labeled as brand or generic. Often times, a generic drug does not offer significant cost savings when it is first launched and competition may be limited.
Zocor Moves from Tier 2 to Tier 1
On June 23, the Food & Drug Administration approved simvastatin, the generic version of Zocor. Our PDL Management Committee made the decision to place generic simvastatin in Tier 3 and move Zocor from Tier 2 to Tier 1 on the Standard PDL effective June 23, 2006, for the following reasons:
• The cost of generic simvastatin is relatively expensive, and we anticipate the price will not decrease for at least three to six months due to a manufacturer exclusivity period.
• Generic medications are only a good value if they are priced accordingly. Our PDL strategy provides the flexibility to place the brand at a lower tier when the generic medication does not offer a lower net cost than the brand.
• We negotiated significant discounts with the manufacturer of Zocor, making Zocor much less expensive than simvastatin.
• Placing simvastatin in a lower tier would cause an undue burden on plan sponsors because members would be paying less for a medication that is more expensive than Tier 2 and Tier 3 alternatives.
• Members who are now paying a Tier 2 copay for Zocor will benefit with a lower Tier 1 copayment.
Member Experience:
Moving Zocor to Tier 1 is a positive PDL change for members as they will pay the lowest copayment possible. Because pharmacies automatically switch brand medications to generics where permitted, we are implementing a comprehensive communication campaign to help members understand the PDL change and to receive their medications at the lowest copayment. Communications include:
• Letters to members informing them that Zocor is moving to Tier 1, and they should request Zocor from their pharmacists.
• Several communications to pharmacies instructing them to check the member’s benefit before filling the prescription.
• Communication materials you can provide to your employees to help explain this change.
Looking Ahead:
We will continue to monitor the marketplace dynamics and make PDL changes as appropriate. In three to six months, the generic manufacturer’s exclusivity period will end, more competition will enter the market and the price of simvastatin will likely decrease significantly. If this occurs, simvastatin will likely move to Tier 1 and Zocor will likely move to Tier 3. We will communicate with pharmacies and members as appropriate to transition them to simvastatin to maintain their Tier 1 copayment.
Our goal is to offer optimal value to you and your members. While the management of our Standard PDL is unique to the industry, the result is often more appropriate cost share and better overall financial value. As part of this PDL strategy, we are pleased to be able to offer Zocor at a Tier 1 copayment at a significant savings to you and your employees.
If you are enrolled in the Half Tablet Program, members taking Zocor or simvastatin can take advantage of additional savings.
If you have any questions regarding these changes, please call 336-540-7280. Thank you for the opportunity to manage the prescription medication program that is an integral part of your total health benefit.
June 26, 2006
Tuesday, July 4 is a free holiday for all employees. There are no classes and the college is closed.
June 26, 2006
MARTEE HOLT is serving as Guilford’s interim dean for continuing education and director of summer school while the college conducts a search for the successor to BILL STEVENS, who retired in May. Stevens served 24 years as a faculty member and administrator, including the last five as dean.
Holt has been at Guilford since 1996, when she joined the college as an admission counselor in the Center for Continuing Education. She has 18 years of experience in higher education as an instructor, counselor and administrator at Guilford, the University of Memphis (formerly Memphis State University) and Western Kentucky University. Holt has served as associate director of CCE since 2001.
Holt earned a bachelor of arts from the University of Kentucky and a master of arts in industrial/organizational and clinical psychology from Western Kentucky University.
Since 2000, Guilford’s adult-student enrollment has increased almost five-fold, from 270 in the fall of 2000 to 1,299 in the fall of 2005. Guilford’s evening bachelor’s degree program is the oldest and largest in the Triad, offering more than 500 course credits toward a degree in 150 course sections beginning after 6 p.m.
June 26, 2006
The Wailin’ Jennys, who will be featured in the Homecoming concert Sept. 30, will perform on public radio and television nationally July 1-2.
The Jennys will make their fifth guest appearance in a year on public radio’s “A Prairie Home Companion” July 1 (many stations rebroadcast the program July 2). North Carolina Public Radio-WUNC (91.5 FM) and WFDD (88.5 FM) broadcast the program at 6 p.m. each Saturday.
The July 1 “Prairie Home” program will be taped for airing on public television’s “Great Performances” July 2. UNC-TV will air the program at 9 p.m.
The Jennys are a critically acclaimed Canadian folk-pop trio who released their latest album, “Firecracker,” earlier this month, and will make their southeastern U.S. concert debut at Guilford. The opening act will be Mad Tea Party, including AMI WORTHEN ’93.
Tickets are now on sale to the general public and will be sold on campus to Guilford students and employees in late August. The concert is sponsored by WFDD, Solaris Tapas Restaurant and Bar and Theo’s Work.
Click here for full Homecoming concert information.
June 26, 2006
ALFRED MILOT has joined Guilford Dining Services as executive chef, Dining Services Manager MIKE WATTS announced. In his new role, Milot will oversee day-to-day production of foods for the cafeteria, Grill 155 in the Underground and catering. He will also be working directly with students to insure the dining services operation is meeting their expectations.
Milot has 30 years of experience in the food service industry and has held executive chef positions with Marriott, Sodexho Marriott and the University of Massachusetts. His most recent appointment was as district chef in Sodexho’s New England Region.
Milot’s appointment coincides with renovations to Founders Hall that include a facelift of the cafeteria’s serving area.
“Chef Milot has an outstanding reputation in Sodexho’s New England Region,” Watts said. “With the fresh look of the cafeteria, we want a fresh look in our food, including more healthy, global foods. With his knowledge and skills, I believe Chef Milot can bring that to Guilford Dining’s ‘Balanced Way’ food program.”
Milot earned an associate’s degree in culinary arts from Johnson & Wales University and has completed extensive coursework for professional development at the Culinary Institute of America.
He was president of the Marriott Chef Guild in 1996-98 and the Sodexho Marriott Chef Association in 1998-2001. He has won awards in all categories of food competition and was New England District Manager of the Year in 2000.
A resident of Sterling, Mass., Milot is the father of LAURA MILOT ’09.
June 25, 2006
Guilford College Board of Trustees
Meeting Digest
June 2006
The Board of Trustees met June 2-3, 2006. Following is a digest of board meeting activity (board action in bold italics):
PLENARY SESSION
President’s Remarks
President KENT CHABOTAR reported that Guilford is moving forward with reaffirmation of accreditation by the Southern Association of Colleges and Schools (SACS). Two major documents have been created by the college as part of the reaffirmation process: a Compliance Certificate (self-audit) and a Quality Enhancement Plan (QEP) that focuses on measurable student outcomes. The Compliance Certificate and supporting materials were submitted in March, and a preliminary findings report by off-site review team will follow. The QEP will be submitted in September and the SACS on-site team will visit in November. The reaffirmation decision will be announced by SACS in June of next year. President Chabotar is an elected member of SACS Commission on Colleges.
Quality Enhancement Plan
The major focus of the plenary session was discussion and trustee feedback regarding the Quality Enhancement Plan, one of the core requirements of the SACS reaffirmation of accreditation. Discussion leaders were ADRIENNE ISRAEL, vice president for academic affairs, and KEN GILMORE, associate professor of political science, who have led the development of the plan.
The topic of the plan, as previously approved by the faculty and trustees, is “Enhancing Student Writing as a Foundation for Principled Problem-Solving.” The plan will be developed throughout academic major programs. The focus of the plan is to enhance students’ abilities to employ program-specific writing skills that are applicable and practical as modes of critical inquiry and communication.
Various initiatives will be utilized to accomplish the goals of the plan, including faculty development workshops, modification of existing courses, development of new courses, increased faculty/student writing partnership projects and the development of a writing studio to include specifically trained tutors and writing fellows. Students will design digital portfolios containing examples of enhanced writing projects and outcomes.
JERRY BOOTHBY, vice president for finance and administration, briefed the board on a preliminary draft budget which includes staffing and labor, operating expenses and capital equipment for a cumulative estimate of $787,000 for fiscal years 2007-08 through 2011-12.
Trustees offered suggestions and comments, including:
• Provide additional funding for the Office of Admission in order to attract students with good writing potential.
• Increase the connection between critical reading, critical thinking and writing.
• Recognize that it is a strategic choice of Guilford to develop a stronger writing intensive curriculum.
• Emphasize the importance of writing and critical thinking skills to employers as the reality of a student’s future success.
• Consider the requirement of a senior thesis as an additional feature of the QEP.
• Create increased synergy in the linkage between the QEP and principled problem solving.
• Consider adding verbal communication as a component of the QEP.
• Recognize the importance of e-mail skills in today’s business communications.
FULL BOARD MEETING
“The Guilford Challenge” and Digital Portfolios
“The Guilford Challenge” is among the most important aspects of The Strategic Plan for Guilford College 2005-2010: Creative Leadership for the 21st Century. The Challenge, which will be fully implemented beginning with first year students in the fall of 2008, invites students to think holistically about their education as not just an accumulation of courses but also their experiences at work, in clubs and athletic teams, service learning and internships, and other venues.
Digital portfolios will help students link academic courses, grades and degree with extra-curricular activities and service learning experiences. A pilot project was accomplished in 2005-06 with a group of 10 students. Recent graduates KYLE BREBNER ’06, ROSSLYN CONTRERAS ’06 and CATHERINE MILNER ’06 presented their digital portfolios, reflected on the impact of participating in the pilot project and described their future plans. LEAH KRAUS, director of information technology and services, commented on expansion of the portfolio project as well as assessment of the pilot project.
Campus Master Plan
JON VARNELL, associate vice president of facilities and operations, summarized the process for developing the campus master plan and the revisions to the final draft of the plan that were accomplished in response to input from college constituencies since the board viewed the final draft at its February meeting. The final draft was endorsed by the faculty on April 19.
Varnell emphasized that the campus master plan is the physical manifestation of The Strategic Plan for Guilford College 2005-2010: Creative Leadership for the 21st Century. It is a living document that evolves in synch with college policies, priorities, technology and other factors. All master plan projects will be funded by donor gifts; therefore, shifts in priorities and timing could occur. The plan is subject to regular assessment and revision as necessary.
Upon recommendation of the Buildings and Grounds Committee, trustees approved “The Campus Master Plan for Guilford College.”
Presentation on “Perspectives on Enrollment”
Vice President for Enrollment and Campus Life RANDY DOSS ’82 stated that Guilford is operating in a position of strength and success in the important area of enrollment. He acknowledged, however, that with nearly 77 percent of the college’s total operating revenue generated by student tuition and fees, enrollment has a crucial and significant impact on the college’s financial stability. Doss stated that Guilford continues to be the fastest growing college in North Carolina and that the quality of entering students has been maintained and even surpassed in some areas, such as class rank.
Doss reported that the fall 2006 budgeted goal of 440 first-year traditional students has been attained. Traditional applications have increased by 36 percent, and the current yield rate is 24 percent. The acceptance rate, 56 percent, has decreased for the fifth consecutive year. Center for Continuing Education (adult) applications are ahead of this date one year ago, and it is expected that the budgeted goal of 85 high school students taking college classes in The Early College at Guilford will be realized.
Doss cautioned that enrollment growth and the accompanying revenue surge are expected to level off in the upcoming years, following national trends. Guilford will continue to face the challenge of offering educational opportunities that are affordable to a diverse group of individuals who can achieve academically.
Guilford’s institutional financial aid discount rate decreased to 39 percent for the 2005-06 academic year. Only 13 percent of the college’s institutional aid is funded by the endowment. Many independent college competitors have a larger endowment and can support larger financial aid packages.
Institutions in the University of North Carolina system continue to be Guilford’s greatest competitors in the recruitment of traditional age students, though Elon University, Earlham College, Goucher College and High Point University are challengers.
North Carolina is among the states projected to experience the highest increase in the number of high school graduates in the upcoming years. However, 80 percent of the increase will be realized from students of color who traditionally come from family situations where affording an independent college education is problematic.
The Strategic Plan for Guilford College 2005-2010: Creative Leadership for the 21st Century requires the adoption of an enrollment management plan. The first draft of that document can be reviewed at
www.guilford.edu/enrollmentmanagement.
Committee Reports
Academic Affairs Committee
• The committee recommended faculty promotions as follows: ANNE GLENN, to full professor, TIM KIRCHER, to full professor, TIM LINDEMAN, to full professor, and GWEN ERICKSON, to associate librarian.
Upon the committee recommendation and endorsement of President Chabotar, trustees approved the promotions.
Advancement Committee
• The committee recommended an amendment to the Guilford College Gift Policies (originally approved in February 2005) regarding the proper acceptance of gifts of art.
Upon committee recommendation, trustees approved the “Gifts of Art, Library or other Collections (gift-in-kind)” amendment to the “Guilford College Gift Policies.”
Buildings and Grounds Committee
• A sub-committee on properties has been initiated to more systematically deal with issues related to various properties surrounding the college campus.
• Phase I renovations of Armfield Athletic Center are proceeding on schedule. The multi-phase project is funded entirely by private gifts. Phase I contributions in the amount of $1.15 million provided funding for a new press box, scoreboard and seating improvements. The Phase I significant lead gift was provided by the Edward M. Armfield Sr. Foundation. Commitments exceeding $150,000 have been received towards $1.2 million Phase II projects, including improved entrance, field lighting, landscaping and multi-use turf surface. Dedication of the Herbert T. Appenzeller Field is scheduled on Sept. 30.
Finance Committee
• Three compensation related resolutions were presented for board approval. These resolutions provide an expanded choice of investment funds, allow some employees to participate in deferred retirement investment opportunities, and fulfill a contractual commitment to provide for annual contributions to a deferred compensation plan pursuant to the college’s employment agreement with President Chabotar.
Upon committee recommendation, trustees approved these three compensation related resolutions.
Investment Committee
• The college’s endowment as of March 31 was $56 million, but current value is about $54 million due to declining financial markets. The endowment goal by the end of 2009 is $75 million. Endowment investments are continually reviewed and monitored with outside investors.
Quaker Life Committee
• Planning for trustee anti-racism training is underway. A plenary session will probably be scheduled during the October 2006 board meeting, with a follow-up workshop to be held during February 2007 board meeting.
Student Affairs Committee
• The committee discussed leasing of spaces in nearby apartments and other solutions in response to possible future student housing shortages.
Trusteeship and Governance Committee
• An ad hoc trustee committee has been charged to review and understand the college’s draft intellectual property policy, engage in any needed dialogue with the faculty and administration, seek review by legal counsel and present a policy to the board with a recommendation for approval.
• The committee recommended three-year terms for trustees TOM EVAUL ’51, who is continuing on the board, and KELLY DEMPSTER ’73, who is a new member.
Upon committee recommendation, trustees approved continuing and new membership for these two trustees.
• In response to the Southern Association of Colleges and Schools’ recent interpretation of Comprehensive Standard 3.2.5 of The Principles of Accreditation, SACS now requires that the institution not only provide in the bylaws that trustees may only be dismissed for cause but that the causes are listed. Therefore, the Bylaws of Guilford College are being amended to include a clear statement of the causes and definition of due process.
Upon committee recommendation and in accordance with amendment procedures, trustees approved the amendment of Section 3.6, Article 14 of the Bylaws of Guilford College. Additionally, the trustees also approved the appointment of Evaul and Dempster to the Board.
National Conference on Trusteeship
President Chabotar taught two sessions during the recent Association of Governing Boards of Universities and Colleges’ National Conference on Trusteeship, “Strategic Finance for Presidents” and “Seminar for New Trustees.” Attending the conference were trustees MARTHA SUMMERVILLE ’76, PETE CROSS ’72, ELLEN HAMRICK ’78, ANN RAPER, CHARLOTTE ROBERTS and ED WINSLOW, Vice President for Advancement MIKE POSTON and JOYCE EATON.
Alumni Association Report
The major focus of the Alumni Association Board of Directors will move from friend-raising to fundraising in preparation for the upcoming capital campaign.
Fiscal Year 2005-06 Budget Update
The forecast for fiscal year 2005-06 cautiously includes the projection of a balanced operating budget, even though the major operating revenue component, tuition and fees, is less than anticipated because of a shortfall (about $200,000) in spring traditional and CCE enrollment revenue. A major area of concern is cash flow. The Finance Committee is closely monitoring this situation.
June 23, 2006
UNC-TV will debut a new series, “Bill Moyers on Faith and Reason,” July 6, featuring a Bryan Series speaker from the Year of Spirit and Spirituality.
Bill Moyers, the award-winning broadcaster, gave a talk in the Bryan Series March 13. In his remarks he referenced upcoming projects, including the series on faith and reason.
Celebrated novelist Salman Rushdie is Moyers’ guest in the first episode of the seven-part series.
Find more information at http://www.pbs.org/moyers.
