Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Board Actions topic
No spam. Unsubscribe anytime.
FGCU finance committee unanimously approves budget, carryforward and regulatory recommendations for full board
Summary
The Finance, Facilities and Administration Committee unanimously approved minutes, budget amendments, a carryforward funds plan, an update to Regulation 7.006, and an appointment to the Financing Corporation, forwarding all recommendations to the full Florida Gulf Coast University Board of Trustees on Jan. 13, 2026.
The Finance, Facilities and Administration Committee of the Florida Gulf Coast University Board of Trustees voted unanimously on Jan. 6, 2026, to recommend several budget and policy items to the full Board.
The committee approved the Consent Agenda (minutes of the Sept. 2, 2025 meeting) after a motion by Trustee Peter Sulick and a second from Trustee Paul Applegarth. Chair Richard Eide called for a voice vote and the motion passed unanimously.
Committee members then approved an amendment to the Fixed Capital Outlay Budget that included a $200,000 change tied to the Cohen Student Union. Trustee Paul Applegarth moved the amendment and Trustee Eide seconded; the committee voted in favor.
The committee also approved an Amendment of Carryforward Funds for the fiscal year ended June 30, 2025. Vice President David Vazquez told trustees that a statutory change required institutions to invest a specified percentage of carryforward funds in deferred maintenance or Public Education Capital Outlay (PECO) projects. As a result, FGCU increased its maintenance budget from roughly $3.5 million to about $7.75 million and shifted toward multi-year planning to better schedule work over summer and winter break periods. Trustee Applegarth moved to recommend the carryforward amendment; Trustee Sulick seconded and the motion passed unanimously.
Vazquez presented urgent amendments to FGCU Regulation 7.006 (Waivers of Tuition and Fees) required to conform to recent Florida Statute revisions. He said the Non‑Resident Waiver language was updated to refer to “citizens of the United States or lawfully present in the United States” and that eligibility rules for programs of strategic emphasis were adjusted. The committee unanimously recommended the regulation amendments to the full Board.
Finally, the committee recommended appointing Mark Stevens to the FGCU Financing Corporation Board of Directors. President Aysegul Timur and Chair Eide both endorsed Stevens, citing his local business and construction expertise; the committee’s recommendation to the full Board was unanimous.
All of the committee’s approved items will be presented to the full FGCU Board of Trustees at its Jan. 13 meeting for final action.
Votes at a glance: - Consent Agenda (Minutes of Sept. 2, 2025): mover Peter Sulick; second Paul Applegarth; tally yes 3, no 0; outcome approved. - Amendment of Fixed Capital Outlay Budget (FY 2025–26): mover Paul Applegarth; second Richard Eide; tally yes 3, no 0; outcome approved. - Amendment of Carryforward Funds (FY ended June 30, 2025): mover Paul Applegarth; second Peter Sulick; tally yes 3, no 0; outcome approved. - FGCU Regulation 7.006 (Waivers of Tuition and Fees): mover Peter Sulick; second Paul Applegarth; tally yes 3, no 0; outcome approved. - Appointment to FGCU Financing Corporation Board of Directors (Mark Stevens): mover Paul Applegarth; second Peter Sulick; tally yes 3, no 0; outcome approved.
