The board of trustees met on March 17 to discuss the university’s finances, the economic landscape and governance. The board approved new degree programs and a contract to create digital CarolinaCards.
Committees and approvals
The board approved a contract with the company Transact Campus to create mobile CarolinaCards. The mobile cards will replace physical ones and can be stored on students’ phones. The contract will last for three years, with yearly extensions available.
The mobile cards will provide access to everything the physical cards provide. The board did not announce when they will be implemented.
The board approved several new degree programs, including a bachelor of the arts in communications and a post-baccalaureate certificate in AI for business.
Steven Hass, a managing director at the financial advisory firm Public Financial Management, presented to the board about market conditions and the potential impacts on university finances.
“There's a lot going on in Washington regarding tax policy, how that might impact the capital market,” Hass said. “Tariff policy, you name it, just a lot of changes there that are causing some noise.”
USC is in a good financial position, but should keep an eye on market conditions due to uncertainties, Hass said.
University Architect Derek Gruner gave a presentation about ongoing projects in USC’s Next Masterplan.
The upcoming School of Medicine broke ground last month and progress is being made, Gruner said.
“If you go out there today, what you’ll see is a footprint of the building — what we call the building pad — is now in place,” Gruner said.
The project is on schedule to be completed in fall 2027, Gruner said. The cost will be determined in the upcoming months and a contingency fund has been created, he said.
“While I do worry at night about tariffs and what impact they may have on some of the final pricing, we continue to have a healthy contingency and a healthy escalation fund,” Gruner said.
The Russell House renovations and McBryde Residence Hall project are on schedule, Gruner said. Schematic designs done by Gruner determined that 900 beds, rather than the 650 he estimated at the board's Jan. 26 meeting, can likely be included in the McBryde project, he said.
Addresses
Student Body President Patton Byars attended the meeting alongside Student Body President-Elect Courtney Tkacs. It was his last board meeting as student body president.
The board recognized Byars for his time as the student representative on board. Secretary of the board Cameron Howell presented a certificate of appreciation to Byars.
Board Chairman Thad Westbrook said he was proud of Byars’ willingness to speak up for students. Byars then gave a short address to the board.
“I really appreciate everyone here,” Byars said. “Truly, it's been an honor of a lifetime to serve in this role. (I) thank the Board Chair, Vice Chair and Mr. President, for this opportunity. And I'm super, super excited for our future president to take over Thursday.”
University President Michael Amiridis gave his president’s report following Byar’s address. Amiridis explained the university’s finances and growth with allusions to classical Greek philosophers.
“The philosopher was actually an operational guy, Demosthenes, who said, ‘We need money, and without it, nothing can be done, of what needs to be done,’” Amiridis said.
The university is growing while maintaining a healthy financial foundation, Amiridis said.
The board will meet again on April 23 for the first of its two second quarter meetings.