MINUTES OF A MEETING OF THE EXECUTIVE COMMITTEE OF THE
BOARD OF VISITORS OF VIRGINIA COMMONWEALTH UNIVERSITY
JUNE 16, 1988
A meeting of the Executive Committee of the Board of Visi-
tors of Virginia Commonwealth University was held on Thursday,
June 16, 1988, at 9 a.m. in the University Meeting Center.
Present were Messrs. Farinholt (Rector), Berry, Gregory and
Lipman; and Mesdames Abady and Epps. Messrs. Morris and Wurtzel;
and Mrs. Whittemore were absent. Also present were Drs. Ackell,
Connell, Ruch and Wilson; Messrs. Bruegman, Kelly, Kudless, Poe,
Rapp and Ross; and Mrs. Price.
Mr. Farinholt called the meeting to order. Mr. Rapp pre-
sented for approval the proposed acquisition and replacement of
standardized patient furnishings. This item has been handled as
a sole source procurement since the proposed vendor, Hill-Rom,
originally supplied the beds presently used by the Hospitals.
Hill-Rom is the only manufacturer capable of meeting the Hospi-
tals' specifications. The contract calls for the procurement of
70 beds, 138 bedside cabinets, and 325 overbed tables at a total
cost of $367,152. Following a discussion, on motion made and
seconded, the contract for the procurement of hospital furniture
at a cost of $367,152 was approved.
Mr. Farinholt stated that the Governor is serving as the
Honorary Chairman of the University's Founder's Day. He has been
asked to be the keynote speaker at this event which will take
place on November 5, 1988. Board members were requested to
mention this to the Governor if the opportunity arises.
2
Mr. Farinholt recognized Mr. Tom Poe, the new Director of
University Relations.
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 evaluation of performance of departments or
schools of VCU where such matters regarding such individuals
might be affected by such evaluation, and to discuss the investing of public funds, and to discuss matters relating to gifts,
bequests, and fund-raising activities as authorized by Section
2.1-344 a(1), a(5) and a(7) of the Virginia Freedom of Informa-
tion Act.
Following executive session, on motion made and seconded,
the Committee approved matters relating to a gift; approved Full/
Consultative Hospital Privileges; approved the delegation of
authority to the Chairman of the Hospital Committee to approve
hospital privileges for the Departments of Dermatology, Pedia-
trics, Otolaryngology, Rehabilitative Medicine and Pathology
until the next meeting of the Board of Visitors; and accepted the
Investment Report, Executive Summary, as of March 31, 1988.
On motion made and seconded, the Committee approved the
following Resolution:
WHEREAS, the University Administration, working with the
Investment Committee, has proposed a Revised Investment Policy,
and;
WHEREAS, the Revised Policy contemplates the utilization of
professional investment consultants as a means to ensure success
in meeting the Policy objectives;
NOW, THEREFORE BE IT RESOLVED that;
1. The Revised Investment Policy is approved and recommend-
ed to the Board of Visitors for adoption, and;
2. The Executive Committee recommends that the Board of
Visitors authorize the University Investment Committee to select
the professional investment consultants necessary to implement
the Revised Investment Policy.
The meeting was adjourned at 11 a.m.
Approved:
