[1980-05-09] Minutes of a meeting of the Executive Committee of the Board of Visitors of Virginia Commonwealth University May 9, 1980.

              MINUTES OF A MEETING OF THE EXECUTIVE COMMITTEE OF THE BOARD OF VISITORS 

                      OF VIRGINIA COMMONWEALTH UNIVERSITY 

                                   May 9, 1980


     A meeting of the Executive Committee of the Board of Visitors of Virginia 

Commonwealth University was held on Thursday, May 9, 1980, at 7:30 a.m. in the 

Conference Room at 910 West Franklin Street.

     Present were Drs. Blanton and Nemuth; Messrs. Grey, Seaborn and Shumate; 

and Mrs. Bemiss. Mrs. Satterfield was absent. Also present were Drs. Ackell, 

Hall, Salley and Wilson; Messrs. Bruegman, Cribbs and Guerdon; Miss Cosby and 

Mrs. Price.

     Dr. Blanton called the meeting to order. Dr. Ackell stated that Mr. Bruegman

would be presenting an overview of the Budget Plan developed by the Planning and 

Budget Committee.

     Mr. Bruegman reviewed the process used in developing the budget plan for the

1980-82 biennium.  These steps included:

Step 1                                   1980-81             1981-82
                                                   (millions)
Project expenditures and revenue
necessary to meet commitments for
salary increases and fixed costs.

     Expenditures                        $12.9               $88.0
     Revenues                             80.5                84.3
     Projected Budget Shortfall          $2.4                $ 3.7


Step 2

Identify essential program needs 
which require additional funding 
and reallocate existing resources 
to cover partial cost.

     Additional Funds Required           $ 1.2               $ 1.5
     Less:  Reallocations                  (.8)               (1.1)
     Net Amount Required                 $  .4               $  .4
                                                                      Page 2


  Step 3                                         1980-81            1981-82

  Determine amount required to
  balance the budget.                            $2.8               $4.1


  Step 4

  Develop recommendations for
  balancing the budget.

      Program Reductions & Revenue Increases     $ .9               $ .9
      Alternative Funding Sources                 1.0                1.0
      Assigned Savings                             .9                1.0
      Additional Budget Reductions, Increased      -                 1.2
        Revenue or Additional Funding from
        Legislature
                                                 $2.8               $4.1


      Mr. Bruegman reported that there was a point of contention in the budget 

  that deals with alternative funding sources. This calls for moving positions

  from the E&G budget to overhead funds during this budget cycle. The administration 

  is in the process of gaining the appropriate approval from the various state agencies

  for this procedure.

      Mr. Grey suggested that when new programs are implemented that they be cost 

  tracked for several years with the Academic Policy Committee so that they can see 

  if there is indeed any additional cost associated with the programs.

      Following a number of questions, on motion made and seconded, the Budget Plan 

  for 1980-82 was approved for recommendation to the Board of Visitors.

      The meeting was adjourned at 8:55 a.m.





Approved:



Anne P. Satterfield, Rector v