Board of Directors Authorizes Property Purchase

Published 12.12.2013


Pennsylvania College of Technology’s Board of Directors on Thursday authorized the administration to pursue purchasing a property on First Street in Williamsport and accepted the audited financial statements for the college for the fiscal year ending June 30.

The board granted consent to President Davie Jane Gilmour and Vice President for Finance/CFO Suzanne T. Stopper to execute a sales agreement to purchase a property at 952 First St., adjacent to the Student & Administrative Services Center. The college would use the property for additional parking. Gilmour said nothing would take place until lease agreements with tenants are completed in May.

Stopper told the board the college has received an unqualified clean audit opinion from its auditing firm, Larson Kellett & Associates, P.C. Her presentation to the board attributed the improved financial performance in Fiscal 2013 to cost savings from restructuring, expense management, favorable investment returns, strong fundraising and strategic allocation of resources.

Board summaryGilmour provided the board with an update on the upcoming Centennial Celebration events, including the Jan. 23 visit by renowned actor John Ratzenberger, who is also producer/host of “Made in America,” a Travel Channel show celebrating manufacturing and the American work ethic.

Gilmour also provided details about the Frank Lloyd Wright “Samara” exhibit planned for The Gallery at Penn College from Jan. 14 to March 29, the college-sponsored Williamsport Symphony Orchestra concert “Fantastic Tales” on Feb. 11, the Feb. 21 Visiting Chef Dinner featuring Shanna and Brian O’Hea of the Kennebunkport Inn, and the Open House on March 29 that will feature community-focused activities from 2 to 4 p.m.

Tracey Amey, director of the Madigan Library, presented to the board on services provided by the library, which employs 21 staff, including five faculty librarians. The library houses 100,000 books and 17,000 e-books and has logged 250,000 uses of digital resources.

Eighty-five academic and specialized databases are offered. Text service was launched in January 2013; more than 1,300 texts have been sent since then, and Amey predicted the number would reach 3,000 by the end of the academic year.

In her comments to the board, Gilmour noted fundraising for the Penn College Scholarship Campaign has reached $5.1 million, eclipsing the original goal of $3.75 million.

Board Chairman Sen. Gene Yaw, R-Loyalsock Township, said it will be an honor to represent the college at various Centennial events in 2014. He said the college’s unique character and mission have enabled it to thrive at a time when other institutions of higher learning are struggling.

“We do have a great reputation; it is growing,” he said.

The next board meeting will be held Feb. 20.