St. Mary’s City, Maryland – The St. Mary’s College Board of Trustees convened on Friday, May 12, to discuss and approve several significant decisions. Among the key highlights were the conferral of degrees upon 325 baccalaureate and 21 master’s graduates, the approval of the FY24 operating and capital budgets, and the adoption of the college’s new strategic plan, The Rising Tide, which will shape the institution’s direction until 2026.
With the board’s unanimous approval, St. Mary’s College proudly awarded degrees to 325 baccalaureate and 21 master’s graduates, celebrating their academic achievements and marking an important milestone in their educational journey. The conferral of degrees symbolizes the students’ dedication and hard work over the years, as well as the college’s commitment to fostering excellence in education.
Moreover, the Board of Trustees gave its endorsement to the FY24 operating budget, which amounts to $90.46 million, representing a substantial 14.4% increase compared to the previous fiscal year. This growth is largely attributed to increased state support, higher enrollment figures, and a boost in auxiliary enterprise activity. As a result, the college’s projected revenues for FY24 have risen by an impressive 12.15%. The approval of the budget reflects the board’s commitment to ensuring the institution’s financial stability and providing the necessary resources to support its mission.
In addition to the operating budget, the Board also approved the FY24 Plant Fund Capital Budget of $2.316 million. Furthermore, the FY25-FY29 State Capital Budget Proposal, totaling $62.2 million, received the board’s endorsement. These investments in capital spending demonstrate the college’s dedication to maintaining and enhancing its infrastructure, facilities, and overall campus environment for the benefit of its students, faculty, and staff.
The St. Mary’s College Board of Trustees also embraced the college’s new strategic plan, The Rising Tide. Developed through an inclusive and collaborative process involving students, faculty, staff, and members of the community, this plan outlines the college’s vision and objectives for the period from 2023 to 2026. The Rising Tide centers around four pillars, each with specific goals and key performance indicators, to propel the college forward. It is accompanied by an estimated budget of $6.16 million over the next three years. Commenting on the plan, President Tuajuanda C. Jordan, PhD, expressed her enthusiasm, stating, “The Rising Tide builds on our momentum toward solidifying our position as The National Public Honors College.”
During the meeting, Board Chair Susan Lawrence Dyer expressed gratitude to departing board members for their invaluable contributions. Lawrence Leak ’76, Alice Bonner ’03, Douglass Mayer ’04, Glen Ives, William Seale, and Brayan Ruiz Lopez ’24 were recognized for their dedicated service. The names of the incoming board members will be announced in the near future, signifying a continuing commitment to the college’s governance and advancement.
As St. Mary’s College of Maryland moves forward with its new strategic plan, bolstered by strong financial support and the conferral of degrees upon its graduates, the institution remains steadfast in its pursuit of academic excellence, community engagement, and continued growth. With the guidance of its Board of Trustees and the collective efforts of its stakeholders, St. Mary’s College is poised to make significant strides in the years ahead, further solidifying its position as a national leader in higher education.