MINUTES OF A SPECIAL MEETING OF THE EXECUTIVE COMMITTEE
OF THE BOARD OF VISITORS
April 19, 1979
A special meeting of the Executive Committee of the Board of Visitors of
Virginia Commonwealth University was held on Thursday, April 19, 1979, at 7:30 a.m.
in the President's Dining Room.
Present were Dr. Blanton; Messrs. Bliley, Grey, Scott and Shumate; and Mrs.
Satterfield. Mr. Dabney was absent. Also present were Drs. Ackell, Beller,
Brooke, Hall and Woods; Messrs. Bruegman, Cribbs, Guerdon and Ross; and Mrs. Price.
Dr. Ackell gave the Committee a brief report on the land acquisition program in
Oregon Hill. We have acquired two houses and are now negotiating the purchase of
four other properties. The Governor, Senator Willey and Secretary Gilley have
visited the affected area. Mr. Bruegman reported that he and Mr. Saksen answered
all the questions, and we have not heard anything else from them. In addition,
Dr. Ackell reported that he and Mr. Bruegman met with representatives of the Randolph
Community Association who are supportive of VCU and our relocation program.
Dr. Ackell reported that he had just met with Lou Mills concerning the men's
basketball head coach position. There have been 94 applicants for the position
many of whom are assistants without good "track records." The Intercollegiate
Athletic Committee is serving as the search committee. Dr. Ackell reported that we
have four or five good prospects for the position. We hope to have a decision within
the next two to three weeks.
Dr. Ackell indicated that some persons connected with the Community College
System have been making detrimental remarks about VCU to the Education Committee of
the General Assembly as well as in the community at large. These remarks have to do
with our lowering our standards to increase our enrollment and, therefore, hurting
the enrollment at J. Sargeant Reynolds Community College. Dr. Ackell reported that
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he had not decided whether to speak with Mr. Carl Bain or Dr. Dana Hamel regarding
this matter. Dr. Blanton cautioned that we should not get into a confrontation with
the Board of the Community College System.
Dr. Ackell reported that the salaries of all university-wide administrators
and all Academic Campus personnel who make over $10,000 were published in the
Commonwealth Times last week. It was not very good for morale. Faculty members
are comparing their salaries with faculty salaries in other schools and departments.
Dr. Ackell introduced Mr. Bruegman who presented the 1979-80 budget plan for
VCU. Mr. Bruegman reviewed the assumptions and criteria used in the preparation of
the 1979-80 budget plan. Shown below is a summary of the 1979-80 budget plan for VCU:
Revenue (in millions)
1978-79 Base $70.1
Increases Expected 5.2
. Direct Appropriation ($1.0)
. Classified Regrades ($0.8)
. Faculty Salary Incs. ($2.1)
. Fringe Benefits ($1.0)
. Special Funds ($0.3)
5% Average Tuition Increase .7
TOTAL REVENUE $76.0
Expenditures (in millions)
1978-79 Base $69.7
Required Increases 5.5
. Restore Salary Savings ($1.0)
. Classified Merit Increases
and Regrades ($1.4)
. Faculty Salary Incs. ($2.4)
. Utilities, Rentals,
Library ($0.5)
. Consolidated Computer
Center ($0.1)
. Fringe Benefits ($1.1)
. Recoveries -($1.0)
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Additional Funding Requirements $1.9
. Academic Affairs
Statistics Institute ($60,000)
Center for Public
Affairs ($50,000)
Library ($100,000)
. Health Sciences
Allied Health Prof. ($118,000)
. Continuing Education ($18,000)
. Research & Graduate
Affairs
Office of Research ($28,000)
Center on Aging ($8,000)
. Student Affairs _
Financial Aid ($32,000)
. Faculty Promotions ($70,000)
. Equipment ($250,000)
. Operating Support ($450,000)
. Contingencies
Special Programs ($100,000)
Emergencies ($600,000)
TOTAL $1,884,000
Planned Salary Savings -$0.9
Prepay 1979-80 Obligations - 0.2
TOTAL EXPENDITURES $76.0
Following a discussion, on motion made and seconded, a 7 percent average faculty
salary increase and a 5 percent average tuition increase were approved by the Committee. Mr. Scott indicated that the members of the administration should be
complimented for the fine budget presentation.
On motion made and seconded, the following Resolution was approved:
WHEREAS, Virginia Commonwealth University is proceeding with the
construction of the capital construction project entitled "Low Rise
Dormitory - Phase II" (the "Project");
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WHEREAS, permanent financing of the Project will be achieved
through the issuance of revenue bonds to the Department of Housing
and Urban Development which has approved Virginia Commonwealth
University's application for funding and which revenue bonds will
be issued upon the completion of the construction of the Project;
and
WHEREAS, it will be necessary to secure temporary and interim
financing for the construction of the Project;
THEREFORE, BE IT RESOLVED, by the Board of Visitors of Virginia
Commonwealth University, that the Vice President for Finance be
and is hereby authorized to secure an interim loan in an amount
not to exceed $5,209,000 from the Treasurer of the Commonwealth
of Virginia to finance the construction of the Project, such loan
to be repaid from the proceeds of the revenue bonds which shall
be issued upon the completion of the construction of the Project.
Following a presentation by Mr. Guerdon, on motion made and seconded, the
following Resolution regarding the Robins' stock gift was approved:
RESOLVED, that the agreement of Virginia Commonwealth University
as set forth in a letter dated March 19, 1979, addressed to E.
Claiborne Robins restricting the disposition by Virginia Commonwealth
University of 60,000 shares of the Common Stock of A. H. Robins,
Incorporated, distributed by Mr. Robins to Virginia Commonwealth
University and the disposition of other shares and other securities
received in respect of such shares, a copy of which letter has been
submitted to this meeting, is approved; and that the actions of Mr.
James G. Guerdon, Vice President for Finance, in signing and de-
livering such letter on behalf of Virginia Commonwealth University
are approved and confirmed.
Following a discussion, on motion made and seconded, the following Resolution
was approved:
WHEREAS, Virginia Commonwealth University has received the
necessary authorization and approval, including the approval of
the Governor of the Commonwealth, to proceed with the construction
of the capital construction project entitled "Academic Campus Parking
Deck" (the "Project");
WHEREAS, permanent financing of the Project will be achieved
through the issuance of revenue bonds, which will be issued upon
the completion of the construction of the Project; and
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WHEREAS, it will be necessary to secure temporary and interim
financing for the construction of the Project;
THEREFORE, BE IT RESOLVED, by the Board of Visitors of Virginia
Commonwealth University, that the Vice President for Finance be and
is hereby authorized to secure an interim loan in an amount not to
exceed $3,294,000 from the Treasurer of the Commonwealth of Virginia
to finance the construction of the Project, such loan to be repaid
from the proceeds of the revenue bonds which shall be issued upon
the completion of construction of the Project.
The meeting was adjourned at 9:30 a.m.
Ann P. Satterfield, Secret
Approved:
