Category: Finance and Facilities

President Ramaswamy Announces Expanded MIIS Role for Bob Huth

I am pleased to announce that Bob Huth, a frequent visitor from Middlebury and valued partner in our preparations for financial integration, has agreed to take on a significant role in the MIIS community over the next 16 months.

Bob, who is currently Executive Vice President at Middlebury, will take on the principal responsibility for guiding and supporting our financial operations effective July 1, 2009, and lead those efforts all the way through full integration with Middlebury on June 30, 2010.

Bob has been involved in the Middlebury-Monterey affiliation since it began, and has worked diligently with colleagues at Monterey to lay the groundwork to ensure the smoothest transition possible for both Monterey and Middlebury.

A graduate of Moravian College, Bob has been at Middlebury since 1998 and is a certified public accountant with an M.B.A. from Lehigh University. Bob has over 30 years of experience in finance and accounting, including serving as Senior Vice President for Administration at Moravian College and Controller of Lehigh University.  He is a past President of the Eastern Association of College and University Business Officers (EACUBO), a former Board member of the National Association of College and University Business Officers (NACUBO) from 2001 to 2004, and has served as a Commissioner of the New England Association of Schools and Colleges (NEASC) since 2007.

Bob will spend approximately 3/4 of his time in California and, back in Vermont, will continue to oversee Middlebury’s Department of Facilities Services and real estate holdings.  He will also continue his service as a NEASC commissioner.

Bob and his wife Barbara are in the process of relocating to Monterey for the duration of this assignment, and I am sure you will all give them a warm reception.

Jim Graber, who has provided exceptional service to the Institute as interim CFO during the early stages of integration, will complete his contract at the end of June, at which time Bob will assume the title of Acting Executive Director of Business and Finance Operations at the Institute.

We are extremely grateful for Jim’s contribution to the Institute, as a six-month initial assignment turned into a two-and-a-half-year stay marked by increasing financial stability and progress toward our strategic goal of long-term sustainability.  We have been fortunate to benefit from Jim’s wisdom and experience, and he and Deb will remain in our circle of friends in the Monterey community.

Renovations of Apartment Building Completed

4plex Renovations have been completed on the Monterey Institute apartment building located at the corner of Van Buren and Franklin Streets.  This project, headed by Controller Steve Marino, has resulted in a completely remodeled building that will provide market-rate housing for Institute faculty and staff and a guesthouse unit for VIPs and other Institute visitors.  The apartment’s landscaping was designed and completed by Classroom and Grounds Supervisor Marty Goss and Classroom and Grounds Assistant Kirk Eckhardt and incorporates drought-resistant plants and drip irrigation.

Two units (Apartments A & B) will become available for rent immediately, under the following guidelines:

1.  These units will be managed internally and advertised to Monterey Institute regular faculty and staff.  Applications will be accepted and reviewed by Campus Services.  Please contact Jon Covell at 647-7175 or at  jonathan.covell@miis.edu.  Background/credit checks will be run.

2.  These units are two-bedroom, one-bath.  Maximum occupancy is three.  No smoking, no pets.

3.  Rent is $1,750 per month.  A security deposit of $1,750 is required.  Minimum one-year lease.  Rent includes washer/dryer,  PG&E, trash, water, & sewer.

Green Renovation

This building has incorporated the following green improvements in order to comply with new Monterey Green Building Codes, emphasize our commitment to sustainability, and provide a comfortable, healthy environment for those occupying the house.

• Plumbing:  Installation of high-performance, low-flow showerheads, low-flow faucets, insulated plumbing and pipes (to keep heat from escaping), and low-flow toilets.
• Energy:  The building will have 95% efficient furnaces,  a high-efficiency water heater, and a vent kitchen range hood to the outside (in order to keep pollutions and odors from contaminating the house).
• Flooring:

• Recycled-content tile and low volatile organic compound (VOC), water-based wood finishes.
• Recycled-content, non-toxic, tack-down carpet, padding and underlayment. (Recycled content: PET plastic bottles, recycled wool, nylon, or recycled cotton. Tack-down installation is easier to remove than glue-down, eliminates toxic glue chemicals, and allows the carpeting to be partially recycled at the “end” of its life.)

• Paint: The paint used in this building is low VOC.
• Reuse/Recycling: Construction and deconstruction waste was reused and job site waste was recycled to the extent possible.

New Faces in Classroom Services, Grounds and Security

A new Classroom Services/Grounds organization has been established, with responsibility for the appearance of the classrooms and common areas, event set-up, and campus landscaping.  Marty Goss, who has been the Security Account Manager on campus for the past 18 months, has been selected as the Classroom Services/Grounds Supervisor. Marty is knowledgeable about Institute facilities and has extensive experience in landscaping.  His office is located in A102 of the Morse Building and he can be reached via e-mail at marty.goss@miis.edu.

Kirk Eckhardt has been hired as the Classroom Services/Grounds Assistant and will report to Marty.  Kirk brings a wealth of experience in landscaping and we are looking forward to the transformation of the campus appearance over the next few months.  Charles Hunter will also become part of this organization and will continue with event set-up and classroom appearance.  A revised Event Request form will be published very soon, and should be routed directly to Marty for action.

Effective today, Monday, October 6, Jeremy VondenBenken will assume the duties of Security Account Manager. Jeremy replaces Marty Goss.  Jeremy has been on the security staff since January and is very familiar with the entire operation and the Institute as a whole.  Jeremy’s office is located in the Business Office and can be reached at x6519 or on his cell phone at 402-2653.

Are Your Retirement Investments Safe?

The recent volatility in the stock market, and the liquidity crisis that is swirling around some large financial institutions may have some of you concerned about your retirement investments.  This is particularly so as one of our retirement choices, VALIC, is a subsidiary of AIG Insurance Company, around which there is a lot of discussion.

As is explained in a “Talking Points” memo from AIG Retirement, under the “Asset Safeguards” section (bottom of page 1), individual funds invested in VALIC mutual funds are in segregated accounts protected from any claims other that yours.  VALIC itself appears to be well capitalized and strong financially.

The economic turmoil of the last six months has created a volatile stock market.  There have been lots of ups and downs.  History tells us that the better long term strategy is to ride it out, and not try to “time” the market’s ups and downs.  However, how you react to your individual investments is a personal decision, based on your comfort with taking risk in the pursuit of a greater reward (they usually go hand in hand.)

Should you have questions, our VALIC representative, Rodney Smith, is available to talk with you.  He can be reached at 595-2588.

–Jim Graber,CFO