Repository: UIHistories Project: Board of Trustees Minutes - 1992 [PAGE 557]

EXTRACTED TEXT FROM PAGE:

1994]

UNIVERSITY OF ILLINOIS

545

EXECUTIVE SESSION ADJOURNED

There being no further business, the executive session was adjourned at 2:25 p.m. for a press conference for President Ikenberry to announce his plans to resign as president by August 1995.

MEETING OF THE COMMITTEE ON FINANCE AND AUDIT

At 3:30 p.m., Chair Boyle asked Trustee Gravenhorst to call to order the meeting of the Committee on Finance and Audit. Mrs. Gravenhorst did so and asked Mr. Richard L. Margison, associate vice president for business and finance, to begin a presentation concerning the performance of University investments. Mr. Margison introduced Mr. Douglas Patejunas from Ennis, Knupp & Associates for a report on the investments he manages for the University. Following this presentation, investment managers from Miller, Anderson 8c Sherrerd; Scudder, Stevens & Clark; and Wells Fargo Nikko Investment Advisors, presented information on the outcomes of their management of University investment funds for the recent past. This was followed by discussion of various approaches taken by these managers and discussion of performance over a longer time span for each. The committee meeting concluded at 5:00 p.m.

BOARD MEETING RECESSED

At this time, the board recessed to reconvene at 8:30 a.m. on June 10, 1994.

BOARD MEETING RECONVENED

When the board reconvened on Friday, June 10, at 8:45 a.m. in Room C, Chicago Illini Union, Chicago campus, Chicago, Illinois, the following members of the board were present: Dr. Gloria Jackson Bacon,1 Mr. Kenneth R. Boyle, Mrs. Judith Ann Calder, Dr. Jeffrey Gindorf, Mr. Donald W. Grabowski, Mrs. Susan L. Gravenhorst, Mr. Thomas R. Lamont, Ms. Ada N. Lopez, Ms. Judith R. Reese. Governor Jim Edgar was absent. Ms. Julia C. Huff,1 nonvoting student trustee from the Urbana-Champaign campus, was present. Mr. Patrick C. Riley, nonvoting student trustee from the Chicago campus, was absent. Also present were President Stanley O. Ikenberry; Dr. Robert W. Resek, vice president for academic affairs; Dr. Michael Aiken, chancellor, University of Illinois at Urbana-Champaign; Dr. James J. Stukel, chancellor University of Illinois at Chicago; and the officers of the board, Dr. Craig S. Bazzani, comptroller (and vice president for business and finance); Mr. Byron H. Higgins, university counsel; and Dr. Michele M. Thompson, secretary. In addition, the following persons were also in attendance: Mr. Donald K. Coe, director, University Office of Public

1

Dr. Bacon and Ms. Huff joined the meeting at 9:30 a.m.