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Eckerd ready to pick leader
By DAVID BALLINGRUD Revised March 14, 2001 © St. Petersburg Times, published March 13, 2001 ST. PETERSBURG -- Eckerd College, struggling to regain financial stability, is expected to announce the selection of its fourth president sometime next week. A search committee has reduced a list of finalists to two names, and will recommend its favorite at a meeting of the board of trustees March 20. The board's decision probably will be announced that day or the next. The two finalists are: Dr. Donald R. Eastman III, vice president for strategic planning and public affairs at the University of Georgia. Dr. Richard Guarasci, provost and vice president for academic affairs and professor of political science at Wagner College on Staten Island in New York. The naming of a new president marks an important step for an institution still battling back from serious financial trouble. The discovery of the unauthorized transfer of almost $20-million from the school's endowment fund last summer brought the swift retirement of President Peter Armacost, who had led the college for 23 years, and J. Webster Hull, the school's chief financial officer. It also embarrassed the 52-member board of directors and forced an evaluation of the school's administrative policies. Since then, the board has taken a much more active role overseeing Eckerd's management and the college's financial situation has improved, school officials say. The problems aren't all in the past, however. The 2001-2002 budget freezes staff and faculty salaries for the coming year, and students face tuition and room-and-board increases this fall. Tuition climbs from $18,565 to $19,870; room and board, from about $5,100 to $5,450. The current year's operating budget is balanced only because of "extraordinary contributions from trustees," said Rick Haskins, Eckerd's vice president for development, a fact that could portend a shortfall next year. "We are looking at a potential operational deficit next year, unless we solve some expense issues," Haskins said. He would not comment on how large the deficit might be. But on the plus side, he said, fundraising is going well. "With $9,591,323 million, last year was our best year for gifts received," he said. "That's money in hand, not pledges. This year to date (the fiscal year ends June 30) the figure is $9.1-million." Eckerd's $34-million endowment was depleted by $19,573,222. The money was spent on various campus projects, including the construction of a dormitory, but without board knowledge or approval. "We expect it will all be back within three years," said Haskins. Miles C. Collier, chairman of the board of trustees, and Grover C. Wrenn, chairman of the board's presidential search committee, did not return telephone calls Monday. Presidential finalist Eastman has been with the University of Georgia since 1991. He began as vice president for development and university relations. He also has held positions at Cornell University, the University of Tennessee, the Florida Endowment for the Humanities and the University of Florida. His doctorate in English is from UF. According to the Wagner College Web site, Guarasci was dean and professor of political science at Hobart College from 1992 to 1996. There he formed a major in what the college calls community-based and service learning as well as an 18-course curriculum in diversity and citizenship. Previously he was dean and founding director of the First Year Program at St. Lawrence University, a program of democratic living and learning for first year students. He has a doctorate in political science from Indiana University. Eckerd hopes to have its new president in office by July 1.
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