TRU’s board of governors approved spending $45,000 of surplus funds to determine if it can raise as much as $75 million in a capital campaign.
The board passed the motion Friday at a meeting Friday
A submission by the university’s advancement office said it aims to raise $75 million, an ambitious target since the current year’s total is just $3 million.
But vice-president of advancement Christopher Seguin called the $75-million figure “arbitrary” and declined to name a target amount.
The university intends to ask for a request for proposals on the study on B.C. Bid.
“We need to know what the community has to offer in the way of major gifts,” Seguin said.
The funding will come from a university surplus account. The board also approved other spending from that account Friday, including $1.1 million as a repayable loan to complete the interior of the new law faculty building atop Old Main.
Subsequent fundraising efforts are intended to repay the surplus fund.