A meeting of the Finance Committee of the Board of Trustees convened at 10:37 a.m. on Friday, April 8, 2022, in Room 326 of Stewart Center on the campus of Purdue University in West Lafayette, Indiana.

All Committee members were present: Don Thompson, chair; Sonny Beck; Malcolm DeKryger; and Michael Klipsch. All other trustees were present: Michael Berghoff; JoAnn Brouillette; Vanessa Castagna; Theresa Carter; Mark Gee; and Gary Lehman.

Officers and administrators in attendance were: Mitch Daniels, president; Jay Akridge, provost and executive vice president for academic affairs and diversity; Chris Ruhl, chief financial officer and treasurer; Steve Schultz, general counsel; Janice Indrutz, corporate secretary and senior executive assistant to the Board; Ron Elsenbaumer, chancellor, Purdue Fort Wayne (virtually); and Tom Keon, chancellor, Purdue Northwest.

I. APPROVAL OF MINUTES

Upon proper motion duly made and seconded, the Finance Committee voted unanimously to approve the minutes of its meeting convened on December 3, 2021.

II. APPROVAL OF CONTRACT IN EXCESS OF $2,000,000: WIRELESS ACCESS POINT REPLACEMENT

Treasurer Ruhl respectfully requested approval of a five-year, $2,600,000, contract with Presidio to upgrade and replace wireless access equipment on the West Lafayette campus as well as the Purdue Northwest and Purdue Fort Wayne campuses. He informed the Committee that, on any given day, there were over 100,000 unique devices on the wireless network, with 13,000 wireless access points. Upon proper motion duly made and seconded, the Finance Committee voted unanimously to recommend full Board approval of the contract. Supporting materials were filed with the minutes.

III. APPROVAL TO REFINANCE STUDENT FEE AND STUDENT FACILITIES REVENUE BONDS

Treasurer Ruhl introduced Ms. Nicole Michienzi, who, he said, joined Purdue in February 2022 as senior director of capital markets and special projects. Ms. Michienzi then discussed a recommendation to refinance outstanding Student Fee Bonds and refinance and restructure outstanding Student Facilities System Revenue Bonds. She explained how doing both would accomplish three objectives – capture debt service savings, reduce risk associated with variable rate portfolio, and modernize security structure. Treasurer Ruhl responded to a question from Trustee Thompson about other ways in which the university could take advantage of the current financial market. Upon proper motion duly made and seconded, the Finance Committee voted unanimously to recommend full Board approval to refinance the bonds. Supporting materials were filed with the minutes.

IV. ADJOURNMENT

By consent, the meeting adjourned at 10:51 a.m.