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Board approves budgets and legislative requests while trustees spar over costly Pei dorm renovations
Summary
Trustees approved the FY 2026-27 preliminary operating budget and two 2027-28 legislative budget requests but engaged in a prolonged debate over whether to renovate architecturally significant Pei dormitories, where cost estimates ranged widely and donors have shown limited appetite to fund repairs.
The New College of Florida Board of Trustees on June 30 approved the preliminary operating budget for fiscal year 2026-27 and two 2027-28 legislative budget requests, including a capital outlay request, after hearing a staff presentation and answering trustees' questions.
Ms. Fitzpatrick, presenting the preliminary operating budget, told trustees the institution faces an overall year-over-year reduction of roughly $18 million driven largely by lower non-recurring funds. She noted housing counts fell from 679 beds to 650 and that the budget accounts for an anticipated transfer-related baseball-field expense; dining services for the new campus remain under discussion with current provider Aramark.
Public commenter Rodrigo Diaz urged trustees to scrutinize the budget, saying the proposed 2026-27 operating budget "reflects the loss of over $22 million in education and general funds compared to fiscal year 2025-2026, a cut in total revenues of 21%," and questioned whether the acquisition of USF Sarasota-Manatee was accounted for in the plan.
Trustees voted to approve the FY 2026-27 preliminary operating budget and then approved two separate 2027-28 legislative budget requests (general LBR and fixed capital outlay) required for submission to the Board of Governors.
A major portion of the meeting's discussion focused on the Pei-designed dormitories on New College's campus. Trustee English asked for vendor cost estimates after staff placed a $7 million figure in the legislative request for a partial renovation of one dorm area. President Corcoran and trustees explained that a complete renovation or preservation could be substantially more expensive: staff cited scenarios where preserving the historic dorms could range from roughly $10 million-plus to $25 nto $35 million depending on scope, and that doing so can cost more than building new housing.
Corcoran said the board's inclusion of a small renovation piece in the legislative request is intended to draw attention and potentially spur donor or legislative support. Trustees discussed alternatives including street-market financing, repurposing the buildings or, if necessary, demolition; the president said fundraising and repeated legislative requests would be pursued if initial efforts fail.
Why it matters: The budget approvals free the college to file required materials with the Board of Governors and continue planning for the newly acquired campus, but trustees must make high-cost decisions about historic housing while balancing enrollment growth and limited donor appetite.
The board recorded the motions and carried the votes for the operating budget and both LBRs; exact roll-call tallies were not read into the record in the transcript excerpt.
