MINUTES OF A MEETING OF THE EXECUTIVE COMMITTEE OF THE BOARD OF VISITORS
OF VIRGINIA COMMONWEALTH UNIVERSITY
June 21, 1984
A meeting of the Executive Committee of the Board of Visitors of Vir-
ginia Commonwealth University was held on Thursday, June 21, 1984, at 9:00
a.m. in the University Meeting Center.
Present were Drs. Coleman and Nemuth; Messrs. Craigie, Ludeman, Morris,
Reynolds and Smith; and Mrs. Whittemore. Dr. Gayle was absent. Also
present were Drs. Hall and Woods; Messrs. Bruegman, Guerdon, Johnson and
Ross; and Mrs. Price.
Mr. Ludeman called the meeting to order. Mr. Guerdon presented three
resolutions dealing with the transfer of signing authority to the Assistan
t
Vice President for Financial Operations (Mr. James R. Johnson) and the
University Controller (Mr. Paul P. Jez). On motion made and seconded, the
following resolutions were approved:
WHEREAS, the Board of Visitors of Virginia Common-
wealth University has previously designated and
authorized the University Controller to sign
checks, drafts and other similar orders for the
payment of money from funds owned, controlled, or
maintained by or entrusted to the University; and
WHEREAS, the Board of Visitors has confirmed the
appointment of Paul P. Jez as University Controller
and desires that he possess all powers, duties and
responsibilities formerly vested by the Board in
the person occupying the position of University
Controller;
NOW, THEREFORE, BE IT RESOLVED by the Board of
Visitors of Virginia Commonwealth University that
the incumbent University Controller, Paul P. Jez,
be and is hereby authorized to sign and execute
checks, drafts, and other documents and orders as
may be necessary to authorize the payment of money
from funds owned, controlled, or maintained by or
2
entrusted to the University in furtherance of the
proper business and financial affairs of the Uni-
versity; and is further vested with such other
powers, duties and responsibilities as were former-
ly vested in the University Controller.
WHEREAS, the Board of Visitors of Virginia Common-
wealth University has vested the Vice President for
Finance of Virginia Commonwealth University with
certain authority, and
WHEREAS, the position of Vice President for Finance
will be eliminated as of June 30, 1984, and
WHEREAS, it is the desire of the said Board of
Visitors to delegate to the Assistant Vice Presi-
dent for Finance that authority previously vested
in the Vice President for Finance, including the
power and authority to execute and sign, on behalf
of Virginia Commonwealth University, any and all
contracts, agreements and other related documents;
and be similarly authorized to sign and execute
checks, drafts and other similar documents author-
izing the payment of monies from any and all
accounts, funds, or other similar sources owned,
controlled, or maintained by or entrusted to the
University,
THEREFORE, BE IT RESOLVED that Mr. James R.
Johnson, Assistant Vice President for Finance for
Virginia Commonwealth University, be and is hereby
authorized to sign, execute and enter into con-
tracts, agreements and other similar documents on
behalf of the Board of Visitors of Virginia Common-
wealth University, provided such contracts are in
furtherance of the business of the University and
are in accord with the established policies of the
Commonwealth and the University; and
BE IT FURTHER RESOLVED that the aforesaid James R.
Johnson be and is hereby authorized to sign and
execute checks, drafts and other similar documents
and otherwise authorize payment of monies from any
and all accounts, funds or other similar sources
owned, controlled, or maintained by or entrusted to
the University and its Board.
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BE IT RESOLVED, by the Board of Visitors of Virgin-
ia Commonwealth University, that the President,
Assistant Vice President for Finance and the Con-
troller of Virginia Commonwealth University or any
two of such officers, be and they hereby are fully
authorized and empowered to transfer, endorse,
sell, assign, set over and deliver any and all
.shares of stocks, bonds, debentures, notes, evi-
dences of indebtedness or other securities now or
hereafter standing in the name of or owned by Vir-
ginia Commonwealth University and to make, execute
and deliver any and all written instruments neces-
sary or proper to effectuate the authority hereby
conferred.
Mr. Guerdon presented a proposal for the Committee to appoint three
members to Virginia Hospital Laundry's Board of Directors as required by
the Laundry's articles of incorporation. The administration recommended
the appointment of Mr. Myles P. Lash, Executive Director of MCVH; Mr. W.
John Schaeffer, Director of Support Services, MCVH; and Mr. James R.
Johnson, Assistant Vice President for Finance, VCU; to fill the three posi-
tions effective July 1, 1984, through July 1, 1986. A recommendation on a
fourth member will be forthcoming in the near future. On motion made and
seconded, the Committee appointed Messrs. Lash, Schaeffer and Johnson to
the Virginia Hospital Laundry Board of Directors effective July 1, 1984.
In response to a question, Mr. Guerdon stated that 75 percent of the volume
of the laundry is contributed by MCVH. John Randolph Hospital contributes
15 percent and Retreat and Children's Hospitals contribute 10 percent. The
Laundry has been in existence for eight years and was financed by bonds
through the Virginia Development Authority. The Laundry's operations are
stable. It is processing approximately 5 million pounds of laundry per
year at 34C per pound. This compares with commercial laundries' rates of
approximately 30C per pound.
Mr. Bruegman presented the quarterly Budget Report for Educational and
General Programs. He stated that both revenues and expenditures are
expected to be less than budgeted at year end. It is projected that reve-
nues will be down approximately $2.2 million, most of which is tuition and
fee revenue. Mr. Bruegman advised that our enrollment projections are
being reviewed for the next biennium. Mr. Ludeman requested that a report
be prepared comparing enrollment projections with actual enrollment for
1982, 1983, and 1984.
On motion made and seconded, the Committee convened into executive
session to discuss the investing of public funds as authorized by Section
2.1-344 a(5) of the Virginia Freedom of Information Act.
Following executive session, on motion made and seconded, the Committee
accepted the Investment Report.
The meeting was adjourned at 10:10 a.m.
Approved:
