WFU Trustees Approve New Budget, Elect Members

Wake Forest University’s board of trustees on Friday approved a total operating budget of $504 million for the next fiscal year, beginning July 1.

During its April 2-3 meeting on campus, the board also elected 12 trustees and its 1998-99 officers.

The new budget includes $323 million for the Bowman Gray campus, site of the Wake Forest University School of Medicine. Another $181 million will fund the Reynolda campus, location of Wake Forest’s undergraduate college and graduate school of arts and sciences, as well as law, MBA, divinity, and business and accountancy schools. The Bowman Gray campus budget is up 4 percent from last year, while the Reynolda campus budget rose by 10 percent. The total budget increase is 6 percent.

The following were elected as first-time members of the board: Leslie M. (Bud) Baker Jr. of Winston-Salem, president and chief executive officer of Wachovia Corp.; Carlyn J. Bowden of Greensboro, office manager at R. Steve Bowden & Associates; James R. (Jay) Helvey III of Summit, N.J., managing director of J.P. Morgan; and the Rev. Roy J. Smith of Raleigh, retired executive director of the Baptist State Convention of North Carolina.

The following current members were re-elected to the board: Marvin D. Gentry of King, chairman of the board of The New Fortis Corp.; L. Glenn Orr Jr. of Winston-Salem, president of Orr Management Co.; Adelaide A. Sink of Tampa, Fla., president of the NationsBank Private Client Group; and John C. Whitaker Jr. of Winston-Salem, chairman and chief executive officer of Inmar Enterprises.

Former members elected to the board are: Ronald E. Deal of Hickory, chairman of Wesley Hall Inc.; Jeanette W. Hyde of Raleigh; and Dee Hughes LeRoy of Charleston, S.C.

All terms are for four years.

Wayne Calloway of Greenwich, Conn., was re-elected board chairman. Three vice chairs were re-elected: Murray C. Greason Jr. of Winston-Salem, an attorney with Womble, Carlyle, Sandridge & Rice; Wachovia Corp. chairman John G. Medlin of Winston-Salem; and Adelaide A. Sink of Tampa, Fla.

Lauren B. Hunt, a sophomore from Dallas, was re-elected to a second consecutive one-year term as a student trustee.

Categories: University Announcement