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Finance Committee Minutes -- March 26, 2001 -- Board of Trustees -- University of Louisville

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Minutes of the Finance Committee Meeting
Of the University of Louisville Board of Trustees

The Finance Committee of the University of Louisville Board of Trustees met on Monday, March 26, 2001 at 3:35 p.m. in the Ball Room of the University Club with the members present and absent as follows:

Present:
Mrs. Joyce Hagen Schifano, Chair, Presiding
Mr. William P. Mulloy, Sr., Vice Chair
Mr. Kevin D. Cogan
Dr. Richard C. Feldhoff
Mr. Nathaniel E. Green
Ms. Jessica S. Loving (joined the meeting at 3:50)
Absent: Mr. Ulysses L. Bridgeman, Jr.
Other Trustees Attending:
Ms. Linda Wallbaum Cauble
Mrs. Ann Ford Cobb
Mr. Milton M. Livingston
Mr. Darryl T. Owens
Ms. Angela M. Richie
Mr. T. W. Samuels, Jr.
Ms. Melissa Long Shuter
Mrs. Sandra Metts Snowden
Mrs. Elizabeth H. Worland
From the University:
Dr. John W. Shumaker, President
Dr. Carol Z. Garrison, Provost
Mr. Joseph S. Beyel, Vice President for Development and     Alumni
Dr. Denise D. Gifford, Vice President for Student Affairs
Mr. Daniel Hall, Vice President for University Relations
Dr. Joel A. Kaplan, Vice President for Health Affairs
Dr. Ronald L. Moore, Vice President for Information     Technology
Mr. Larry L. Owsley, Vice President for Finance &     Administration
Mr. Michael J. Curtin, Director, Planning and Budget
Mr. Bill Nunez, Planning and Budget
Mr. Thomas H. Lyons, University Counsel
Ms. Angela Koshewa, University Counsel
Dr. David Howarth, Associate University Provost
Mrs. Terri Rutledge, Associate Vice President for Finance &     Administration
Ms. Trisha Wolf, Board Liaison, President's Office
Ms. Debbie Dougherty, Board Liaison, President's Office
Ms. Rae Goldsmith, Associate V. P. for University Relations
Mr. John Drees, Director of Public Information
Mrs. Kathleen M. Smith, Assistant Secretary, Board of Trustees

I. Call to Order

Having determined a quorum present, Mrs. Schifano called the meeting to order.

  • Minutes of January 22, 2001

In reviewing the minutes, Dr. Feldhoff requested the attendance differentiate the Finance Committee members attending separate from other Trustees attending. The Chair asked that future minutes reflect this change. Dr. Feldhoff moved that the minutes be accepted as presented. Mr. Cogan seconded the motion, which was unanimously approved.

II. Action Item: Approval of Grawemeyer Budget Proposal for 2001-02

President Shumaker introduced Dr. Paul Weber, Executive Director of the Grawemeyer Awards Program. Dr. Weber indicated the 2001-02 Budget Proposal would continue and expand the public relations effort needed to increase the national and international visibility of the Grawemeyer Awards. New this year to the program is funding for graduate fellowships in the five disciplines. Dr. Weber noted both President Shumaker and President Mulder (Louisville Presbyterian Seminary) have approved the proposal. Trustee Feldhoff applauded the fellowship funding as a good idea, and then made a motion, which was seconded by Trustee Metts, that the Committee endorse the

President's recommendation that the Board of Trustees approve the Grawemeyer Awards Budget proposal for 2001-2002.

The motion passed unanimously.

III. Action Item: Approval of Two Capital Projects

Vice President Owsley presented two capital projects, with scopes exceeding $100,000, that needed the Board's approval. Mr. Mulloy made a motion, which was seconded by Ms. Metts, that the

President's recommendation regarding the following capital projects be approved:

Project Estimated Cost Fund Source
College of Education and Human Development Building Renovation $100,000 Plant Funds
     
Student Standardized Patient Facility at the HSC, Room 312W, Instructional
Building
$165,000 Plant Funds

The motion passed unanimously.

IV. Action Item: Approval of Proposed Lease for Kentucky Autism Center/Spectrum Resolution

Vice President Kaplan indicated the leased property would be at the renovated old Male High School facility. The Kentucky Autism Center has outgrown its current location. In response to Ms. Shuter's question about the funds for the lease, Dr. Kaplan noted the funding would come from state sources. Mr. Mulloy made a motion, which Dr. Feldhoff seconded, that the

President's recommendation that the Board of Trustees approve a lease of real estate from Spectrum LLC for additional space for the Kentucky Autism Training Center.

The motion passed unanimously.

V. Information Item: Review of Quarterly Financial Report, 2000-01

Vice President Owsley reviewed the quarterly financial reports. In response to an inquiry from Trustee Cauble, Mr. Owsley indicated that Wallace's Bookstores was current with its payments to UofL even though the firm has filed for protection under Chapter 11. No action was necessary on the Quarterly Financial Report.

VI. Information Item: Refinancing Proposal for Bettie Johnson Hall

Vice President Owsley noted the University would like to try to take advantage of reduced interest rates and to refinance the debt for Bettie Johnson Hall. Such refinancing should lower or limit rental rates for the facility, which should ultimately help the occupancy rate for the dormitory. The UofL Foundation Finance Committee on March 20th recommended the refinancing proposal. This item was for the Board's information.

VII. Information Item: Review of Privatization Initiative

Even though the Board of Trustees endorsed at its February 26th meeting a proposal to establish an LLC for privatization, Trustee Cogan invited Mr. Mark Ament (Greenebaum, Doll, & McDonald) to brief the Finance Committee about the structure of the LLC. Mr. Ament described the proposed articles and bylaws of the new venture, and noted that Trustee appointments on the new organization would need to be under approximately 1/3 of the Board's total number of directors to protect the organization from state open meetings/open records laws. He recommended the UofL Research Foundation appoint two members to the board of this new entity and those two board members would appoint the balance of the board. Mr. Ament indicated that the final documents would be ready in 2-3 weeks. Both Trustee Cogan and President Shumaker praised Mr. Ament for adroitly preparing the tactical documents to move this initiative to this point.

VIII. Information Item: Review of 2002-2008 Agency Capital Plan

Mr. Michael Curtin, Director of Planning & Budget, presented the University's capital construction proposal for the next six years. He indicated UofL would submit the plan to three state agencies next month. In response to Trustee Loving's request, Mr. Curtin described the Field House as a comprehensive facility for the training of athletes, intramural sports activities, HPER classes, and research/instruction space for Exercise Physiology.

IX. Action Item: Approval of Proposed New Fees

Provost Garrison introduced Dean Koerselman from the School of Music to brief the Committee about the need for these new fees. The Dean noted that for a school the size of UofL, it was not feasible to have a full-time instructor in all the performance areas. Many performers from the Louisville Orchestra are willing to teach part-time if the University would make a commitment to them. The proposed fees would generate approximately $120,000, which would be used for teaching faculty, and in some cases benefits for part-time faculty. The Dean also said that he wanted to create an office where performing music students could "hang out," be more visible, and possibly coordinate requests for UofL students to perform in the community. Dean Koerselman offered the experience of Evansville and Vanderbilt Universities where those institutions charge applied lesson fees. After listening to discussion, President Shumaker noted the appearance of creeping fees. He indicated that the proposed fees were essential to support the quality of the student-experience in Music. Dr. Shumaker stated that it seemed to be the best approach for the short term, but would like to review the possibility of including the fees in some type of differential tuition structure. Dr. Shumaker asked the Committee to approve the fees, and agreed to take up the issues raised by the Student Trustee and others on the Finance Committee when he meets with the Tuition Policy Committee. Trustee Mulloy made a motion, which was seconded by Mr. Green, that the Committee approve the

President's recommendation that the Board of Trustees approve the following two new fees in the School of Music, effective Fall 2001:

Music Major Fees: $200 per semester per student majoring in music (graduate or undergraduate)

Applied Lesson Fee for Non-music major students:
$200 per semester per student taking an hour lesson
$100 per semester per student taking a half-hour lesson

Optional Accompaniment Fee:  
Voice students $100 per semester (1 hr. lesson)
$ 50 per semester (1/2 hr. lesson)
Instrumental students: $ 80 per semester (1 hr. lesson)

The motion passed unanimously.

X. Other

There was no other business.

XI. Adjournment

Mr. Cogan made a motion, which was seconded by Dr. Feldhoff, to adjourn the meeting at 4:28 p.m.. The motion passed unanimously.

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