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U of L Board of Trustees Meeting

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June 2, 2005, In Open Session

The University of Louisville Board of Trustees held a meeting on Thursday, June 2, 2005, in the Jefferson Room, Grawemeyer Hall, with members present and absent as follows:

Present:
Mr. Ulysses L. Bridgeman, Jr., Chair
Ms. Marie Abrams
Judge Angela McCormick Bisig
Mr. Kevin Cogan
Ms. Donna Tinsley Denny
Mr. Bill Forman
Mr. Owsley B. Frazier
Mr. Nathaniel Green
Mr. Grant Helman
Mr. Mike Livingston
Ms. Jessica Loving
Prof. Bill Pierce
Mr. Steve Poe
Mr. J. Chester Porter
Ms. Sandra Metts Snowden
Mr. Bill Stone
Ms. Beth Worland

Absent:
Mr. Bill Brammell
Mr. Tommie Burns
Ms. Margaret Handmaker

From the University:
Dr. James R. Ramsey, President
Dr. Shirley Willihnganz, Executive Vice President and Provost
Dr. Larry Cook, EVP for Health Affairs
Dr. Nancy Martin, Senior VP for Research
Ms. Angela D. Koshewa, University Counsel
Mr. Mike Curtin, Vice President for Finance
Mr. Larry Owsley, Vice President for Business Affairs
Mr. Dan Hall, Vice President for External Affairs
Mr. Joe Beyel, Vice President for University Advancement
Dr. David Howarth, Associate University Provost
Ms. Susan Ingram, Director of Budgets
Mr. David Barker, Director of Audit Services
Ms. Terri Rutledge, Asst. VP for Business Affairs
Mr. John Drees, Interim Assoc. VP for Communications and Marketing
Ms. Carolyn Cochran, Office of the Provost
Mrs. Kathleen M. Smith, Assistant Secretary
Mrs. Debbie Dougherty, Board Liaison

Guests:
Ms. Julia Karcher, Chair, School of Accountancy
Mr. Nathan Haney, representing Student Government Association

I. Call to Order

Having determined a quorum present, Chair Bridgeman called the meeting to order at 1:20 p.m.

II. Consent Agenda

A. Approval of Minutes

  • Minutes from Board Meeting, 4/14/05
  • Minutes from Executive Committee Meeting, 5/12/05
B. From the Personnel Committee
  • Approval of Monthly Personnel Recommendations
  • Approval of Appointment of Dean, College of Arts & Sciences
  • Approval of Designation of Owsley Brown Frazier Cardinal Park
C. From the Finance Committee
  • Approval of Changes Related to Retirement Plans
    --Addition of Mutual Funds Offered by TIAA-CREF
    --Authorization of Fidelity Funds to Offer Investment Advisor Service to University Employees
    --Amendment of Section 3.2 of 403(b) Retirement Plan
  • Approval Ground Lease for Phase III Student Housing

Chairman Bridgeman read the roll of consent agenda items. Hearing no objection, Ms. Loving made a motion, which Ms. Abrams seconded, to approve the consent agenda. The motion passed unanimously.

III. Action Item: Approval of Certificate in Accounting

President Ramsey explained this certificate would provide a supplementary accounting curriculum to students who have completed non-accounting undergraduate degrees and wish to pursue the Certified Public Accountant (CPA) qualification. At President Ramsey’s request, Provost Willihnganz introduced Dr. Julia Karcher, Chair of the School of Accountancy. Dr. Karcher noted the faculty of the College of Business and Public Administration recommended the creation of a Certificate in Accounting. She said local, regional, national and international CPA firms were facing shortages of qualified entry-level accountants. The U.S. Bureau of Labor Statistics predicted that employment prospects for accountants and auditors were expected to grow approximately 10-20% through 2012. The same growth rate was expected for many other professions that require accountancy training. She confirmed the curriculum was based on the requirements for the CPA examination. Students would take six required courses (18 hours) and one elective course (3 hours) for a total of 21 hours. No additional resources are required for this program. Provost Willihnganz concurred this certificate will provide additional education for those persons already in the workforce who do not wish to pursue another degree program but want to achieve specialization. Mr. Stone made a motion, which Mr. Poe seconded, to approve the

President’s recommendation that the Board of Trustees approve the creation of a Certificate in Accounting.

The motion passed unanimously.

IV. Action Item: Approval of Operating Budget for 2005-06

President Ramsey acknowledged Vice President Curtin’s leadership in the adoption of the 2005-06 operating budget. Vice President Curtin noted the proposed General Fund Operating Budget for the University of Louisville is $367,827,100 for the 2005-06 fiscal year. This amount represented an increase of approximately $24.7 million from last year and a 7.2 percent overall increase in the budget, including debt service and contractual obligations. This budget closely followed the preliminary budget presented at the Board of Trustees’ Finance Committee budget workshop in May. Since the May workshop, some minor refinements were made, most involving expenditure items that are directly offset by specific revenue items.

Vice President Curtin acknowledged budget decisions resulted after extensive consultation with the Vice Presidents, Deans, Faculty and Staff Senates, Student Government Association, and the Finance Committee of the Board of Trustees.

Mr. Curtin said institutional priorities for the 2005-06 Operating Budget were drawn directly from the University’s strategic plan, the Challenge for Excellence at both the unit and institutional level. After covering fixed costs and other commitments, the proposed budget includes strategic initiatives totaling approximately $24 million. The total investment by strategic goal follows:

  • Educational Experience: Student Success - $6.5 million
  • Research, Creative and Scholarly Activities - $3.7
  • Accessibility, Diversity, Equity and Communications - $.6 million
  • Partnerships and Collaboration - $.4 million
  • Institutional Effectiveness of Programs and Services - $12.2 million

Mr. Curtin further noted per state statute, the recommended 2005-06 general fund Operating Budget was balanced; the proposed revenue budget equaled the proposed expenditure budget.

Mr. Curtin recognized the exceptional work of Ms. Susan Ingram and the Budget Office staff for an outstanding job. Mr. Curtin and his staff received a round of applause.

Ms. Abrams inquired about including students in tuition discussions. Judge Bisig reminded the Board that University administration agreed to prepare a response to the students that demonstrated in April. The Judge noted the need to include duly elected representatives of the student body, but also to engage other groups. Vice President Curtin responded that his office was preparing a response to the students. Judge Bisig suggested including his response in the Cardinal. Chair Bridgeman requested the Board receive copies of Mr. Curtin’s response. Mr. Porter made a motion, which Mr. Cogan seconded, to approve the

President’s recommendation that the Board of Trustees approve the proposed University operating budget for fiscal year 2005-06, as attached.

The motion passed unanimously. Chair Bridgeman thanked Vice President Curtin and all other staff who worked on the budget.

V. Action Item: Approval of Capital Construction Projects:

Renovation of the new Career/Co-Op Center in the CBPA

President Ramsey reported the College of Business and Public Affairs planned to develop a first class facility to attract top recruiters to U of L, and to provide enhanced career counseling for graduating students. The project will require renovation of the existing North Computer Center on the lower level of the Business School to incorporate new staff offices, interview rooms, training rooms, a library, and a reception area.

Provost Willihnganz observed a goal of this renovation included assembling a new centralized career center for all University access. In response to Mr. Forman’s inquiry, Dr. Willihnganz confirmed the new computer lab will be fully operational by the end of the calendar year. Ms. Loving praised the University for recognizing and addressing this need. Ms. Abrams made a motion, which Ms. Loving seconded, to approve the

President’s recommendation to approve the following project:

PROJECT: ESTIMATED COST: FUND SOURCE:

Renovation for the new Career / $350,000 Private Donations
Co-Op Center in the College of
Business & Public Affairs

The motion passed unanimously.

Renovation of the College of Business & Public Administration Computer Labs

President Ramsey noted as part of the recruitment of Dean Moyer, the University agreed to upgrade its computer facilities. The project will add network connections, HVAC, and electrical service for 101 terminals for student use in the business school. It will also include new carpet, paint, computer tables and chairs. Ms. Abrams made a motion, which Ms. Loving seconded, to approve the

President’s recommendation to approve the following project:

PROJECT: - ESTIMATED COST: - FUND SOURCE:

Renovation of the College of Business Computer Labs - $185,000 Source: Private Donations

The motion passed unanimously.

VI. Report of the President

President Ramsey recognized Mike Livingston for twelve years of dedicated service to the University as a trustee. Dr. Ramsey read the following resolution in appreciation of Mr. Livingston’s service:

WHEREAS, Mike Livingston has served the University with distinction as a member of the Board of Trustees since his appointment by Governor Jones in 1993;

WHEREAS, in his capacity as a member of the Board, he served faithfully and well on various Trustees’ standing committees, including the Executive Committee 1995-1997 (vice chairman 1995-1996, secretary 1996-1997); chairman of the Student Affairs Committee 1999-2005, vice chair of the Personnel/Awards and Honorary Degrees Committee 1994-1995; vice chair of the Finance Committee 1999-2000; the Nominating Committee (2000-2001); the 1994-95 and 2002 Presidential Search Committees, the Personnel Committee 1999-2000, and the Trustees Award Committee 2004 and 2005.

WHEREAS, he willingly served on the Board of Directors of University affiliated corporations, including the University of Louisville Research Foundation, Inc. (serving as secretary 1996-1997, treasurer 1997-1998, vice chair 1999-2000, and chair 2000-2001), the University of Louisville Foundation, Inc. 1993-2000 and the Foundation Development Cabinet;

WHEREAS, he has given his full and loyal support to the University, thereby winning the admiration, affection, and respect of his fellow Trustees.

NOW THEREFORE BE IT RESOLVED, that the Board of Trustees of the University of Louisville hereby express its sincere admiration and deep appreciation to Mike Livingston for his insightful leadership and outstanding performance as a member of the Board of Trustees from July 1993 through June 2005; and

BE IT FURTHER RESOLVED, that a copy of this Resolution, appropriately signed, be presented to Mr. Mike Livingston

Ms. Loving made a motion, which Ms. Abrams seconded, to approve the resolution. The motion passed unanimously. Mr. Livingston remarked that it had been a great honor and privilege to serve the University of Louisville. He acknowledged the University’s commitment to research and observed the great strides the University had made to increase its number of endowed chairs, improve its library, and recruit outstanding students. He reported the University was attracting top students to Louisville from the western part of the state. Mr. Livingtson thanked Vice President Owsley, Ms. Kathleen Smith, Ms. Trisha Wolf and Ms. Debbie Dougherty for their help during his twelve years.

Trustees Retreat

President Ramsey reported the Retreat Planning Committee met earlier today and discussed important policy items for the Retreat Agenda. Staff will poll the board members about logistics and circulate a more definitive calendar.

VII. Report of the Chair

The Chair had no report.

VIII. Adjournment

Ms. Abrams made a motion, which Judge Bisig seconded, to adjourn the meeting at 1:50 p.m. The motion passed unanimously.


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