MINUTES OF A SPECIAL MEETING OF THE BOARD OF VISITORS
OF VIRGINIA COMMONWEALTH UNIVERSITY
December 3, 1973
A special meeting of the Board of Visitors of Virginia Commonwealth
University was held on Monday, December 3, 1973, at 4:00 p.m. in the
President's Dining Room.
Present were Dr. Blanton and Messrs. Dabney, McGehee, Norris,
Obenshain, Seaborn, Shumate and Turnbull. Also present were Drs. Brandt,
Brooke, Neal, Willett, Wilson and Woods; Messrs. Holmes and Imirie, and
Miss Cosby. Drs. Gwathmey and Thornton and Messrs. Scott and Sheffield,
Miss Keyser and Mrs. Stone were absent.
Dr. Blanton called the meeting to order. Dr. Brandt announced that
Mr. Claiborne Robins had made a challenge gift of $3 million to the university
for the Health Sciences Building. The state will have to give a considerable
amount for this proposed structure in order for Mr. Robins to contribute his
very generous gift.
Dr. Brandt reported that, on November 28, the Governor requested
all state agencies to return to the State Treasury five percent of their general
fund biennial budget by June 30, 1974. The need for this is predicated on a
predicted $43 million shortfall in the state's estimated revenues. The
Governor desires to present a balanced budget to the next legislature and,
consequently, needs to maintain a surplus for the current biennium for a
balanced budget to be possible.
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Since there are only seven months remaining in the biennium, this is
an extremely difficult task. Five percent of our general fund biennial budget
would be $2.3 million. Our general fund represents about two-thirds of our
total operating budget. Approximately 84 percent of this is spent for salaries
and the remaining 16 percent is for heat, light, insurance, computer, libraries,
etc.
Dr. Brandt reported that the administration has worked on this problem
in great detail and proposes a savings of $510,000 or 1.1 percent. Dr. Brandt
has checked with other state institutions of higher education and most of them
seem to be planning a 1.5-2.0 percent proposed savings.
The Administration is recommending that the hospital return nothing.
Despite the strongest efforts, the hospitals may not come out in the black
this year, as it is. We could cut about $50,000 for library acquisitions, but
this is felt to be the wrong approach. The libraries are already far behind,
and it is an important part of an educational institution.
Dr. Blanton had talked with Dr. Gwathmey on the phone before coming
to the meeting. Dr. Gwathmey expressed his feelings that the institution
should comply with the requested reduction through cuts in personnel and
discontinuance of renovations.
On the sheet of figures distributed, the heading "unobligated" appears.
The concensus was that this term should be dropped since it refers to funds
which are unspent but are necessary.
On motion made and seconded, the Board unanimously approved the
administration's recommendation.
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The figures will be telephoned to the Secretary of Education on
December 4 and will be transmitted in writing by Friday, December 7.
The meeting was adjourned at 5:10 p.m.
P.S.: Responding to the concerns expressed by the Board, an additional
cut was made subsequently, thus permitting the return of $545,700
(1 . 2 percent).
Secretary
APPROVED:
Chairman
