The president of Vermont Technical College is stepping down. The announcement by Vermont State Colleges Chancellor Tim Donovan comes as VTC continues to struggle with a significant deficit.
Donovan says VTC president Phil Conroy will retire on November 15. Until then he will be on a paid leave of absence. His annual salary is $145,626.
Conroy has been VTC president since 2011. For the past three years the college has run deficits due to declining student enrollment.
Last May, the state college system board of trustees approved a $2.5 million loan to VTC and required it to submit a four year business plan.
In January, Conroy told trustees that he was anticipating a $2.4 million deficit for the current fiscal year - $1 million higher than initially projected.
At the time the trustees and Chancellor Donovan voiced support for Conroy. Donovan says the size of the deficit has not changed since January.
He says his office has taken a hands-on approach to VTC’s finances.
“We’ve been involved very actively for most of the last year. That will likely continue as we try to stabilize the leadership team in place,” Donovan says.
Dan Smith, the Vermont State College system’s director of Community Relations and Public Policy will serve as VTC’s Acting President.
Smith has been the chancellor’s point person at VTC since last summer.
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Announcement by VSC Chancellor Tim Donovan:
Today I am announcing that Vermont Technical College President Phil Conroy will retire effective November 15, 2014. Until that date, Dr. Conroy will be on a leave of absence and will be paid according to the terms of his contract. I am grateful to Phil and Jan for their service to the students of Vermont Technical College. Because this involves personnel, there will be no further comment from the Vermont State Colleges or Vermont Technical College. Related, I have assigned Dan Smith, VSC Director of Community Relations and Public Policy, to serve as Acting President until the VSC Board of Trustees appoints an Interim President.
