AMENDED
MINUTES OF A MEETING OF THE EXECUTIVE COMMITTEE
OF THE BOARD OF VISITORS OF VIRGINIA COMMONWEALTH UNIVERSITY
August 15, 1985
A meeting of the Executive Committee of the Board of Visitors of
Virginia Commonwealth University was held on Thursday, August 15, 1985,
at 9:30 a.m. in the University Meeting Center.
Present were Messrs. Berry, Farinholt, Lipman, Ludeman, Morris,
Reynolds and Smith; and Mrs. Whittemore. Mr. Grey was absent. Also
present were Drs. Ackell, Connell, Ruch and Wilson; Messrs. Brown,
Bruegman, Kelly and Ware; and Mrs. Price.
Mr. Smith called the meeting to order and reviewed the role of the
Executive Committee as outlined in the Board's Bylaws.
Mr. Bruegman introduced Mr. Cribbs for a presentation of the
1986-88 Financial and Addendum Proposals. Mr. Cribbs reviewed the
process used in the preparation of these Proposals including a summary
of the Governor's target and financial proposal for both the University
and Hospital. A summary of the Addendum Priorities follows:
1986-87 1987-88
University
(1) Faculty Salary Increases
General Funds $ 5,678,483 $12,038,384
Nongeneral Funds $ 3,851,266 $ 8,164,682
$ 9,529,749 $20,203,066
(2) Student Development Initiatives
General Funds $ 5,278,800 $ 5,697,100
Nongeneral Funds
$ 5,278,800 $ 5,697,100
(3) Academic Program Quality
Improvement Initiatives
. Undergraduate Curriculum Revisions
General Funds $ 274,178 $ 300,553
Nongeneral Funds $ 120,322 $ 131,897
$ 394,500 $ 432,450
1986-87 1987-88
Increased Support/University Libraries
General Funds $ 552,500 $ 1,132,750
Nongeneral Funds
$ 552,500 $ 1,132,750
Media Instruction
General Funds $ 750,000 $ 850,000
Nongeneral Funds
$ 750,000 $ 850,000
Instructional Equipment
Replacement/Deficiencies
General Funds $ 7,909,550 $ 8,086,435
Nongeneral Funds
$ 7,909,550 $ 8,086,435
(4) Guideline Initiatives
Plant Maintenance Expenditure
Deficiencies
General Funds $ 1,101,476 $ 1,567,230
Nongeneral Funds $ 483,382 $ 687,777
$ 1,584,858 $ 2,255,007
. Unavoidable Cost Increases
General Funds $ 1,102,228 $ 2,197,618
Nongeneral Funds $ 508,149 $ 1,121,135
$ 1,610,377 $ 3,318,753
Research Centers
General Funds $ 720,578 $ 785,096
Nongeneral Funds
$ 720,578 $ 785,096
(5) Economic Development Initiatives
Virginia Center for Public/Private
Initiatives
General Funds $ 1,069,700 $ 1,132,125
Nongeneral Funds
$ 1,069,700 $ 1,132,125
Reinvestments into Research
and Development Programs
General Funds $ 2,000,000 $ 2,000,000
Nongeneral Funds
$ 2,000,000 $ 2,000,000
1986-87 1987-88
(6) Sponsored Programs Initiatives
General Funds
Nongeneral Funds $ 8,806,860 $ 8,806,860
$ 8,806,860 $ 8,806,860
(7) Auxiliary Enterprise Initiatives
General Funds
Nongeneral Funds $ 5,998,300 $ 5,998,300
$ 5,998,300 $ 5,998,300
University Total
General Funds $26,437,493 $35,787,291
Nongeneral Funds $19,768,279 $24,910,651
$46,205,772 $60,697,942
Hospital
Hospital Initiatives
. Full Funding/Indigent Care
General Funds $16,417,121 $26,117,955
Nongeneral Funds - 724,753
Hospital Total $13,228,945 $26,842,708
Following discussions and questions, on motion made and seconded, the
Financial and Addendum Proposals were approved and will be submitted to
the State on September 1, 1985. It was noted that should the Board
have changes to the document, these could be made with the State.
Mr. Bruegman presented a Resolution which would allow VCU faculty
members to have the option of selecting the TIAA/CREF Retirement Plan.
On motion made and seconded, the following Resolution was approved:
WHEREAS, the Teachers Insurance and Annuity Association
/College Retirement Equities Fund (TIAA/CREF) Optional
Retirement Program has not heretofore been available to
eligible employees of Virginia Commonwealth University as an
option to participation in the Virginia Supplemental Retire-
ment System (VSRS);
WHEREAS, the Governor of Virginia has recently author-
ized public colleges and universities in Virginia to estab-
lish such an optional retirement program and to cause appro-
priate funds to be contributed to such optional retirement
program on behalf of the employees who elect coverage from
TIAA/CREF, subject to the approval of the Board of Visitors
of such public colleges and universities; and
WHEREAS, this Board is of the opinion that its eligible
employees would be benefitted by having their available
retirement program options increased;
NOW, THEREFORE, BE IT RESOLVED that the Board of Visi-
tors of Virginia Commonwealth University authorize the use
of the Teachers Insurance and Annuity Associates/College
Requirement Equities Fund (TIAA/CREF) Optional Retirement
Program as the option to the Virginia Supplemental Retire-
ment System (VSRS). The provisions of the Optional Retire-
ment Program shall be consistent with the provisions
described in the announcement by Governor Robb and the
guidelines promulgated by the Secretary of Administration.
Mr. Bruegman presented the Prompt Pay Status Report. He noted
that both the University and Hospital have improved their payment num-
bers. Mr. Smith asked what constituted "Other Payments." Mr. Bruegman
stated that he would research this item and would delete from the
report if it was not relevant.
Mr. Bruegman presented the 1984-85 Year-End Budget Report. He
noted that the budget was balanced.
Dr. Ackell presented the Management Practices Status Report. He
noted that this is an internal document used by the administration.
The tasks in this document are based on the strategies in the Institu-
tional Priorities document.
Mrs. Whittemore reported for the Board's Ad Hoc Committee on
Bylaws. She noted that the vice presidents had submitted a number of
housekeeping changes which this Committee considered. She reviewed the
proposed changes. On motion made and seconded, the Committee recom-
mended that the proposed Bylaw changes be forwarded to the full Board
for approval. Mr. Smith requested that the Ad Hoc Committee continue
to function to consider any further Bylaws changes which members of the
Board will be asked to propose.
On motion made and seconded, the Committee convened into executive
session to discuss certain personnel matters involving the performance
of identifiable employees or faculty of VCU, and to discuss the invest-
ing of funds, and to discuss matters relating to honorary degrees and
special awards as authorized by Section 2.1-344 a(1), a(5), and a(8) of
the Virginia Freedom of Information Act.
Following executive session, Mr. Smith reported that no actions
had been taken.
The meeting was adjourned at 1:25 p.m.
James B. Farinholt, Jr., Secretary
Approved:
W. Roy Smith, Rector
