Commencement 2013 at historic Angelus Temple, one of the largest in a decade, was a wonderful celebration for our graduates. Degrees were awarded to students from our traditional undergraduate, AA, and Degree Completion programs, and we celebrated our first-ever graduates from the Master of Arts in Strategic Leadership program. In addition, the LPC Board of Trustees conferred the honorary Doctor of Divinity degree on Tommy Walker, one of the most beloved and effective worship leaders in the church today.
Vice President Angie Richey, Academic Dean Dr. Michael Salmeier, and I, along with Board Chair Dr. Sam Rockwell, attended the annual Foursquare Connection in Orlando where we announced the presidential transition and news of our expanding concentrations and majors. I sensed great support and affirmation for LPC and was especially encouraged by the outpouring of love and expressions of affection for our mission going forward. It was particularly gratifying to meet and greet many of our alumni and President's Regional Council (PRC) members.
As you may be aware, LPC faced a shortfall of approximately $1.6 million at the start of the 2013-14 fiscal year on July 1. Instead of layoffs, the Board chose to offer a voluntary separation plan to staff members. Several members of our LPC family have elected to accept the plan and have transitioned, or will be transitioning soon.
We will always be deeply grateful for the men and women who have sacrificially served the college in this way. These are the heroes of Life Pacific College in my book. All of our departing staff are high performing members of the team who will be greatly missed. We collaborated with key leaders, consultants, and staff to create a plan for moving forward in light of our changes.
The Board of Trustees alongside the Finance and Budget Committees have worked diligently to bring our financials to a strong and balanced position. We expect to complete the budget process "in the black" as we move forward with our plans to launch some exciting new programs. These programs strengthen our traditional student enrollment and better serve the Foursquare Church and Kingdom of God. We are very encouraged by the early statistics demonstrating a strong fall enrollment of new and transfer students.
May the Lord give you His grace and peace throughout the summer. Thank you for being part of the LPC family. Carry On!