MINUTES OF A MEETING OF THE
EXECUTIVE COMMITTEE OF THE
BOARD OF VISITORS OF
VIRGINIA COMMONWEALTH UNIVERSITY
August 1, 2005
A meeting of the Executive Committee of the Board of Visitors of Virginia
Commonwealth University was held on Monday, August 1, 2005, at 10:30 a.m. in the
Learning Center located in the Main Hospital, 1200 East Marshall Street. The full Board
was invited to attend.
Present were Dr. Bersoff, Mr. Sherman and Mrs. Rhodes. Mr. Axselle and Dr
Romano were absent. Mr. Sherman was appointed as an interim member of the
Executive Committee for the August 1, 2005, meeting. Also present were Dr. Trani;
Messrs. Gehring, Timmreck and Ross; and Mesdames Balmer, Lepley and Messmer.
Dr. Bersoff called the meeting to order and welcomed members of the press. The
Resolution: Restructured Higher Education Financial and Administrative Operations Act
was presented. The 2005 Session of the General Assembly passed and the Governor
approved the Restructured Higher Education Financial and Administrative Operations
Act, which is effective July 1, 2005. The legislation evolved from the "Chartered
Universities" proposal originally put forth by the University of Virginia, Virginia Tech,
and The College of William and Mary. The Restructured Operations Act covers all
Virginia public higher education institutions, and each institution may seek one of three
levels of autonomy from state financial and administrative controls. Virginia
Commonwealth University seeks to qualify for Level I autonomy by requesting the Board
of Visitors to commit to the eleven goals listed in the accompanying resolution. On
operational efficiency
motion made and seconded, the Executive Committee approved the following
Resolution:
RESOLUTION
RESTRUCTURED HIGHER EDUCATION
FINANCIAL AND ADMINISTRATIVE OPERATIONS ACT
WHEREAS, the 2005 Session of the Virginia General Assembly passed and the
Governor of Virginia signed into law the Restructured Higher Education Financial and
Administrative Operations Act ("the Act") as amended;
WHEREAS, the Act requires that the Board of Visitors commit through formal
resolution to meet statewide higher education goals in the following areas:
• access and enrollment
• affordability
program availability
• academic quality
• student retention and degrees conferred
• access to four-year institutions through the Virginia Community College
System
• economic development
• externally funded research
• student achievement and teacher development in elementary and secondary
education
• six-year enrollment, academic, and financial planning
•
WHEREAS, measurement and attainment of such goals is to be determined based on
criteria to be developed by the State Council of Higher Education for Virginia and the
Governor in consultation with the legislature and the public institutions of higher
education in Virginia;
WHEREAS, by adopting this resolution, Virginia Commonwealth University shall be
permitted by the Commonwealth to exercise basic restructured financial and operational
authority as identified in the Act; and,
WHEREAS, by meeting specific institutional performance benchmarks in those areas
noted above, Virginia Commonwealth University shall receive financial benefits
including interest on tuition and fee revenue, automatic reappropriation of year end
balances, a pro rata share of rebates received by the Commonwealth on credit card
purchases and other similar programs, and a rebate of transaction fees associated with
sole source procurements from vendors not included in the Commonwealth's electronic
procurement system.
THEREFORE, BE IT RESOLVED, that the Board of Visitors of Virginia
Commonwealth University commits to the Governor and General Assembly of Virginia
its best efforts to meet such goals for Virginia Commonwealth University as may be
established consistent with the Act.
On motion made and seconded, the Executive Committee convened into closed
session to discuss the acquisition or use of real property for public purpose, or of the
disposition of publicly held real property, where discussion in an open session would
adversely affect the bargaining position or negotiating strategy of VCU, including the
acquisition of property on or adjacent to the MCV Campus as authorized by Section 2.2-
3711 A(3) of the Virginia Freedom of Information Act.
Following closed session and on motion made and seconded, the following
resolution was approved by roll call vote:
The Executive Committee of the Board of Visitors of Virginia Commonwealth
University hereby certifies that, to the best of each member's knowledge, (i) only public
business matters lawfully exempted from open meeting requirements by Virginia law
were discussed in the closed session meeting to which this certification resolution
applies, and (ii) only such public business matters as were identified in the motion
convening the closed session meeting were heard, discussed or considered by the
Executive Committee of the Board of Visitors of Virginia Commonwealth University.
Roll Call Vote Ayes Nays
Dr. Edward H. Bersoff, Rector X
Mr. Ralph L. "Bill" Axselle, Jr. Absent
Mrs. Anne J. G. "Panny" Rhodes X
Dr. Michele A. Romano Absent
Mr. John Sherman, Jr. X
Vote:
Ayes: 3
Nays: 0
ABSENT DURING MEETING: 2
ABSENT DURING VOTING: 2
On motion made and seconded, the Executive Committee concurred with the
acquisition of property adjacent to the MCV Campus by the VCU Real Estate Foundation
and approved the acquisition of property adjacent to the MCV Campus by the University
The meeting was adjourned at 11 a.m.
