On the ABOR agenda this week: Global Campus and the annual TRIF report
The University of Arizona will present its vision to deliver top-quality education to underrepresented and nontraditional students through the creation of the nonprofit University of Arizona Global Campus at this week's virtual meeting of the Arizona Board of Regents.
The meeting, originally scheduled to take place at Arizona State University in Tempe, will be held virtually to adhere to recommended health and safety precautions amid the COVID-19 pandemic. It is ABOR's third virtual meeting since classes moved online in mid-March.
The first item on the agenda is a presentation and discussion about the University's plans to create a new nonprofit entity called University of Arizona Global Campus that will acquire the assets of Ashford University. Global Campus will be a fully online university providing access to affordable high-quality higher education with flexible opportunities to students from diverse backgrounds around the world.
By establishing University of Arizona Global Campus, the University intends to expand its reach as a land-grant university to increase access to world-class education, enhance its online platform, further diversify its educational enterprise and increase short- and long-term revenue, according to board materials.
(Read more about Global Campus on the UANews website.)
Also at this week's meeting, the state's three public universities will seek board approval to pursue a variety of strategies to help mitigate the financial impact of the COVID-19 pandemic.
First, the universities will give presentations on university debt and available debt instruments. Given the budget challenges presented by the COVID-19 pandemic, the universities have reviewed various areas of costs and expenses and have identified the refinancing of outstanding debt as a possible mechanism to significantly reduce annual debt service payments for fiscal years 2021 and 2022 that will provide financial relief during the crisis.
Following the presentations, the board will discuss proposed revisions to ABOR policy regarding debt repayment and lines of credit.
Other items on the agenda (PDF):
- The regents will hear a presentation on the Arizona Teachers Academy and discuss the academy's annual report.
- The board office and the universities will ask the board to approve the fiscal year 2020 Technology and Research Initiative Fund Annual Report for submission to the governor and the Legislature.
- The board office will seek approval for the Annual Personnel Report for the Arizona University System.