Caption: Board of Trustees Minutes - 1992
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208 BOARD OF TRUSTEES [March 26 University of Illinois at Chicago. As Dr. Barton was a University of Illinois at Chicago faculty member in physical education and the former head of the Women's Physical Education Division, the Chicago campus has determined that the gift should be utilized by the College of Kinesiology. The dean of the College of Kinesiology proposes the establishment of a quasiendowment with $55,000 of the funds from the Barton estate. The income would be used to provide financial aid to students majoring in kinesiology in accordance with the terms of the bequest. The remaining Barton gift funds would be utilized to purchase equipment for educational purposes. The chancellor at Chicago and the vice president for business and finance have recommended the establishment of the quasi-endowment for the purposes described. I concur. On motion of Ms. Reese, this recommendation was approved. Line Item Appropriation Transfer (19) Each year there are variations between the anticipated uses of funds as reflected in the line items of the appropriation bill and actual use. Most often these variations are minor and can be dealt with within the normal course of University business. For Fiscal Year 1993 several more significant developments have occurred which necessitate a realignment of the University's State appropriation by line item. The original appropriation configuration by line item was predicated upon the significant use of coal for UIUC power generation. With the plentiful supply and favorable prices of natural gas, and major maintenance work occurring in the coal burning boilers, the utilization of natural gas has increased and less coal has been used. This change in fuel utilization necessitates a line item transfer inasmuch as coal is classified as a commodity whereas natural gas is classified as a contractual service. In addition, due to budget reductions and reallocations, departments have reduced their travel activity and the funds available in this line item are needed for other priority needs. Also, as part of the FY 1993 budget reduction, the equipment line item was significantly reduced. Additional funds are now needed in this line. The Illinois Revised Statutes provide that transfers of funds may be made among certain regular operating appropriations during the course of the fiscal year. Upon initiation and approval by the University, an appropriation transfer authorization is submitted to the governor through the Illinois Board of Higher Education (IBHE). The table below details the transfers necessary to fund the projected operating costs. Line Item Travel Commodities Contractual Services Equipment Net Change Decreases ($ 200 000) ( 1 300 000) $ 0 Increases 500 000 1 000 000 0 The vice president for business and finance recommends that these changes in line item appropriations be made so that University appropriation and current spending plans are more closely aligned. I recommend approval. On motion of Ms. Reese, this recommendation was approved Appointment of Successor Escrow Agent (U.S. Army Corps of Engineers Construction Engineering Research Laboratory) (20) On May 16, 1985, the Board of Trustees approved an escrow agreement with Chicago Title & Trust Company, Chicago, in connection with the refinancing of debt
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