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Meeting Information

UNIVERSITY OF VIRGINIA
BOARD OF VISITORS EXECUTIVE SUMMARY
FINANCE COMMITTEE

May 14, 1999
9:00 - 10:30 a.m.
East Oval Room, The Rotunda

 

I. CONSENT AGENDA

A. PRATT FUND -- Approves annual allocations from the John Lee Pratt Fund, used to help support the School of Medicine and the Departments of Biology, Chemistry, Mathematics, and Physics in the College of Arts and Sciences.

B. APPOINTMENT TO UNIVERSITY OF VIRGINIA INVESTMENT MANAGEMENT COMPANY BOARD -- Approves the appointment of a public member, Mr. Donald Laing III, to the University of Virginia Investment Management Company for a four-year term.

C. CHANGE IN TRUSTEE AND REINVESTMENT OF ASSETS OF THE UNIVERSITY OF VIRGINIA POOLED INCOME FUND -- Approves the University of Virginia Investment Management Company's recommendation to appoint the University as Successor Trustee to the Fund, to invest the assets of the Pooled Income Fund in the Core Equity and Bond Fund portfolios of the University's Pooled Endowment Fund and to charge fees against principal.

D. AMENDMENT TO FACULTY RETIREMENT PLAN -- Approves an amendment to the Faculty Retirement Plan to include participation of salaried part-time faculty working at least twenty hours per week.


II. ACTION ITEMS

A. 1999-2000 BUDGET -- Approves the proposed operating budgets for the Academic Division, The University of Virginia's College at Wise and the Medical Center. The operating budgets for the period July 1, 1999, through June 30, 2000, total $1.19 billion for all divisions of the University of Virginia. This amount represents an increase of $34.8 million, or approximately 3.0 percent, compared with the revised budgets for 1998-99.

B. INTEGRATED HEALTHCARE INFORMATION MANAGEMENT SYSTEM ACQUISITION -- Authorizes the execution of an agreement to procure, an enterprise-wide core information system, along with the implementation, integration and maintenance services for the University of Virginia's Medical Center.

C. ENROLLMENT PROJECTIONS -- Approves the revised 1998-2006 enrollment projections for the Academic Division.

D. BOND ISSUANCE -- Approves bond issuance through the Virginia College Building Authority's Pooled Bond Program, established by the General Assembly during its 1996 legislative session, for the Biomedical Engineering and Medical Science Building and the Orange Medical Office Building in an amount not to exceed $32.6 million for both projects. Total cost for these two projects is $45.8 million.

III. REPORTS BY THE EXECUTIVE VICE PRESIDENT AND CHIEF FINANCIAL OFFICER

A. ENDOWMENT REPORT -- Ms. Alice W. Handy will report on the market value and performance of the endowment under the control of the Rector and Visitors. As of March 31, 1999, the endowment under the control of the Rector and Visitors totaled $1.106 billion, up $8 million from its value on December 31, 1998 and up $19 million from its value on June 30, 1998.

B. REPORT ON ACTIONS OF THE INVESTMENT MANAGEMENT COMPANY, APRIL 19, 1999: Mr. William H. Goodwin, Jr., will report on the actions taken by the Investment Management Company at its April 19, 1999, meeting.

C. VICE PRESIDENT'S REMARKS -- The Board will hear a report from Mr. Sandridge regarding the Integrated Systems Project and the Desktop Computing Initiative.


MORE MEETING INFORMATION PAST MEETINGS PUBLIC MINUTES

 

BOARD OF VISITORS OF THE UNIVERSITY OF VIRGINIA

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