A MEETING OF THE EXECUTIVE COMMITTEE
OF THE
BOARD OF VISITORS OF
VIRGINIA COMMONWEALTH UNIVERSITY
July 17, 2006
A meeting of the Executive Committee of the Board of Visitors of Virginia
Commonwealth University was held on July 17, 2006, at 9 a.m. in the University
Meeting Center located at 101 North Harrison Street. The full Board was invited to
attend.
Present were Dr. Bersoff (Rector); Messrs. Axselle and Rosenthal; and Mrs.
Rhodes (via phone). Mr. Sherman was absent. Mr. Rosenthal was appointed as a
substitute member of the Executive Committee for the July 17, 2006, meeting. Other
Board members present were Drs. Broaddus and Romano; and Mr. Hurtado. Also
present were Drs. Trani, Gottfredson, Macrina and Retchin; Messrs. Bennett, Gehring,
Ross and Wyeth; and Mesdames Atkinson, Balmer, Chinnici, Lepley and Messmer.
The meeting was called to order and Mr. Hurtado was introduced. Mr. Hurtado
was appointed to the Board effective July 1, 2006. Mr. Hurtado is Chairman and Chief
Executive Officer of Invertix Corporation, a wireless technology and systems engineering
company headquartered in Annandale, Virginia.
The 2006-07 University Budget Plan was presented. Revenue from all sources is
projected to total $712.6 million and budgeted uses are estimated at $709.6 million for
2006-07.
The 2006-07 budget was developed within an overall framework of the actions of
the 2006 General Assembly, 2006-07 tuition and fee rates adopted by the Board of
Visitors, the University's Strategic Plan and the six-year financial plans. The allocatio
of resources reflects two principal drivers: Presidential priorities and Strategic Plan
priorities.
Key Presidential priorities include additional funding for research, medicine, life
sciences, international education, engineering, business and the development of a new
interdisciplinary arts film program. The 2006-07 budget reflects additional funding for a
number of Strategic Plan initiatives, including the University College, the School of
Public Health, the Honors College and University libraries.
Funding also has been provided to address state-mandated cost increases for
faculty and staff compensation, fringe benefits, a property insurance rate increase, and
eVA fees. The 2006-07 budget includes funding to support capital commitments and
unavoidable cost increases, such as operation and maintenance costs for new facilities
coming on-line, lease costs for Theatre Row, reserves for the Monroe Park Campus
expansion, and utility price increases.
On motion made and seconded, the Executive Committee of the Board of
Visitors approved the 2006-07 University Budget Plan.
On motion made and seconded, the Executive Committee convened into closed
session for discussion or consideration of prospective candidates for employment; for
discussion or consideration of matters that would involve the disclosure of information
contained in a scholastic record concerning students of a Virginia public institution of
higher education; and, to consult with legal counsel pertaining to actual and probable
litigation, and other specific legal matters requiring the provision of legal advice or
counsel, where such consultation or briefing in open meeting would adversely affect the
negotiating or litigating posture of VCU as authorized by Section 2.2-3711 A(1), A(2)
and A(7) of the Virginia Freedom of Information Act.
Following closed session, on motion made and seconded, the following resolution
was approved by roll call vote:
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 Common-
wealth University.
Roll Call Vote Ayes Nays
Dr. Edward H. Bersoff, Rector X
Mr. Ralph L. "Bill" Axselle, Jr.X
Mrs. Anne J. G. "Panny" Rhodes X
Mr. Thomas G. Rosenthal X
Mr. John Sherman, Jr. Absent
Vote:
Ayes: 4
Nays: 0
ABSENT DURING MEETING: 1
ABSENT DURING VOTING: 1
The meeting was adjourned at 10:45 a.m.
