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State Treasurer Shawn T. Wooden and University of Connecticut Interim Vice President and Chief Financial Officer Lloyd Blanchard today announced the results of the latest University of Connecticut ("UConn") bond sale.
The $227 million UConn General Obligation bond sale attracted strong investor demand. Total orders received during the retail order period were $313 million, the second highest level of retail orders on any UConn 2000 bond sale in the 26-year history of the program.
"The sale attracted strong investor demand in a more challengin market than we have seen in recent times. This demonstrates confidence in the State of Connecticut and our flagship university," Treasurer Wooden said.
As you are aware from my recent communication, our EVP/CFO Scott Jordan will be departing at the end of this month for a position at Harvard University. Scott’s existing role comprises both a CFO function and several operating lines of reporting. We have decided that going forward, we will separate the financial role into its own interim Vice President and Chief Financial Officer for the University.
I am pleased to announce that Lloyd Blanchard, who has served as our Associate Vice President of Budget, Management, and Institutional Research since 2018, has agreed to serve in this interim Vice President and CFO role effective June 30. In addition to his existing areas of responsibility, as the interim VP and CFO Lloyd will oversee Budget & Planning, Controller, including Bursar, Accounting, Accounts Payable, Treasury Services, and Payroll, and Business Services, including Procurement and Capital Projects & Contract Administration.
I would like to thank Lloyd for agreeing to take on these significant new responsibilities. As many of you know, Lloyd is an exceptionally effective, respected, and experienced leader and administrator, as well as a member of our faculty in the Department of Public Policy. He originally joined UConn in 2016 to lead the Office of Institutional Research and Effectiveness (OIRE) before also becoming the leader of our budget and planning office two years later.
Lloyd earned his undergraduate degrees from the University of Texas, and his MPA and PhD in Public Administration from the Maxwell School at Syracuse. Please see the rest of Lloyd’s biographical information here.
With regards to Scott Jordan’s other lines of reporting, namely: Human Resources, Information Technology Services, Facilities Operations, University Planning, Design and Construction, and Public Safety – these will temporarily report to me as I and the leaders of these areas work together over the next few months to determine the optimal operating structure. Please note that IT will be a dual report to myself and the Provost.
Please join me in congratulating Lloyd and thanking him for his leadership and willingness to serve in this interim role.
Andrew Agwunobi, MD, MBA
Interim President | University of Connecticut
Chief Executive Officer | UConn Health
Today, Connecticut State Treasurer Shawn T. Wooden announced the results of this week’s University of Connecticut bond sale. The $279 million UConn 2000 Program bond sale attracted record investor demand, set a new record low overall interest costs of 2.19%, and will save taxpayers $29 million by refinancing existing bonds.
With a record-breaking nearly $286 million secured in grants and contract funding during the past fiscal year, UConn and UConn Health are continuing toward university President Thomas Katsouleas' ambitious goal of doubling research spending over the next decade.
Construction is complete on UConn's dynamic new three-story, 191,000 square foot Student Recreation Center. The Design Phase began in October 2015 with program input from students, staff and the Student Advisory Committee. The new Student Recreation Center was built from a $100 million project budget, conforms to Connecticut High Performance Building Code regulations and will be registered as a LEED GOLD project.
The facility includes approximately 30,000 square feet of fitness space, a four-court gymnasium, two multipurpose activity courts, an indoor running track, an aquatics center with a 25-meter pool and a recreational pool, a climbing center, racquetball courts, an outdoor recreation center and functional training and multipurpose rooms for use by the students and the UConn community.