MINUTES OF A MEETING OF THE EXECUTIVE COMMITTEE
OF THE BOARD OF VISITORS OF VIRGINIA COMMONWEALTH UNIVERSITY
December 9, 1981
A meeting of the Executive Committee of the Board of Visitors of Virginia
Commonwealth University was held on Wednesday, December 9, 1981, at 9:00 a.m.
in the University Meeting Center.
Present were Drs. Gayle and Nemuth; Messrs. Balfour, Ludeman and Wyatt;
and Mrs. Thalhimer. Mrs. Bemiss and Mr. Grey were absent. Also present were
Drs. Ackell, Hall, Salley, Wilson and Woods; Messrs. Cribbs, Guerdon, Lodge and
Ware; Miss Cosby and Mrs. Price.
Mr. Guerdon introduced Mr. Scott Lodge, Assistant Comptroller of the Uni-
versity. Mr. Guerdon then gave a slide presentation of the Financial Warn-
ing Signals which are found in the Financial Management Manual for Institutions
of Higher Education. Following the presentation, Mr. Ludeman indicated that he
would like to meet with Mr. Guerdon to discuss the new data in detail.
Mr. Guerdon distributed the Self-Review Questionnaire. He indicated that
members of the Committee could review this document and questions will be answered
at the February meeting.
Mr. Cribbs presented the quarterly budget review. The major highlights of
the data presented in this report follow:
All General Fund Revenues anticipated in the budget have been
received.
Billed tuition and fees, compared to budget, are running at
about the same percentage as last year (55% vs. 56.8%).
All other non-general fund revenue collections appear to be
lagging behind receipts for the same time period in 1980-81.
In the aggregate, the percentage of anticipated revenues is
close to that received last year at the end of the first
quarter (85.5% vs. 87%).
Total expenditures, as a percentage of the total budget, are
•
almost equal to the percentage expended last year at the end
of the first quarter (23.5% vs. 24.1%).
Personal Service Expenditures are at 21.9% of budgeted levels
• in 1981-82, whereas expenditures at the same time last year
represented 23.5% of annual expenditures in 1980-81.
Non-personal Service Expenditures are at 18.7% of budgeted
• levels in 1981-82, whereas expenditures at the same time
last year represented 16.5% of annual expenditures in 1980-81.
• Recoveries of expenditures are lagging 3% behind 1980-81.
Mr. Ludeman thanked Mr. Cribbs for his report and indicated that this is the
type of data the Executive Committee would like to receive on a quarterly basis.
Dr. Ackell presented the Bylaws of the proposed University Council. Dr.
Ackell indicated that this governance structure of the University would replace
the University Assembly. The Council has more faculty and students than the
present Assembly. Mrs. Thalhimer questioned the use of the word "demand" in the
opening paragraph. Dr. Ackell indicated that he would reword that sentence. A
discussion was held as to whether or not it was necessary for the Board to approve
the Bylaws of the University Council since it is an advisory group of the Pres-
ident. Dr. Ackell stated that the administration and the University's Legal
Advisor would determine if Board approval was necessary.
The meeting was adjourned at 10:30 a.m.
Harold I. Nemuth, M.D., Secretary
Approved:
Do s Ludeman, Rector
