David Hale ’84, vice president for finance and administration and treasurer, has accepted a new career opportunity and will leave Colgate after 20 years of service to become vice president for business and finance and treasurer at the University of Richmond.
Hale will start July 29 at Richmond, where he will lead a division of more than 500 individuals and have oversight of the university’s approximately $235 million annual operating budget and financial operations, as well as other key areas including facilities, human resources, dining services, sustainability, and campus police.
In making the announcement to campus earlier today, Colgate President Jeffrey Herbst said that Hale has been an invaluable resource to his office, as well as to the Board of Trustees and to senior academic and administrative leaders.
“In his 20 years here, Dave has made an enormous impact on this campus. His work and wisdom have touched everything and everyone in immeasurable ways. Thanks to his professionalism, Colgate is on firm financial footing and the campus is in wonderful physical condition,” said Herbst.
A highly respected administrator and gifted fiscal manager, Hale has been responsible for budgets, capital finance, endowment management, facilities, human resources, auxiliary services, and community affairs in both good and bad economic times. He co-chaired the Economic Environment Working Group that oversaw significant restructuring of the operating budget during the economic downturn of 2008-2010 while maintaining the university’s commitment to academic excellence and access through increases to the financial aid budget.
Since then, the budget and endowment have virtually returned to pre-recession levels. With the successful completion of the Passion for the Climb campaign, Colgate has significantly increased financial aid funding and the size of the faculty.
Hale has led successful major capital projects including the construction of Trudy Fitness Center, the renovation of the Colgate Inn, and the recently completed renovation of Lathrop Hall. He has also been overseeing the planning for the arts and culture center and a new athletic facility, as well as the campus master planning process.
In addition, Hale has led Colgate’s active engagement with the local community through both the Hamilton Initiative and the Partnership for Community Development, which have provided investment capital and university support in the surrounding region. He is a member of the board of directors of Community Memorial Hospital, where he serves as chair of the finance committee, and has been an area Little League baseball and softball coach for more than a decade.
Hale and his wife, Ingrid Miller Hale ’89, and their three children have been highly involved in the Hamilton community. Ingrid, former director of the COVE, has served three terms on the Hamilton Central School board, among other civic contributions.
Carolee White, associate vice president for finance and assistant treasurer, has agreed to step in as interim vice president for finance and administration, effective June 10. White has held the positions of associate controller, director of internal audit, director of investments and financial analysis, and assistant treasurer and director of investments before being named associate vice president in 2007.
A certified public accountant, White received her bachelor’s in accounting at Syracuse University and spent five years at Coopers and Lybrand in Syracuse, culminating in a position as business assurance manager.
A national search for a permanent replacement, chaired by Provost and Dean of the Faculty Doug Hicks, will begin soon.