Repository: UIHistories Project: Board of Trustees Minutes - 1994 [PAGE 156]

EXTRACTED TEXT FROM PAGE:

144

BOARD OF TRUSTEES RECESS

[January 20

At this point, the board recessed for meetings of the Committee on Buildings and Grounds and the Committee on Finance and Audit.1 The board reconvened in regular session at 11 a.m.

MEETING OF THE BOARD RECONVENED

Report, University of Illinois Foundation

When the board reconvened, Mr. Lamont invited Dr. B. A. Nugent, executive director of the University of Illinois Foundation, to make a few remarks concerning the activities of the Foundation. Dr. Nugent reported that the Foundation's major activity, the management of the capital campaign, was going well. Dr. Nugent stated that the goal of the campaign was to double the amount of the endowment, which had grown from $40 million in 1979 to $300 million in 1995. Further, he reported that the campaign had $400 million toward the goal of $1 billion. He noted that 58 percent of this was from individuals, 15 percent from corporations, and 14 percent from foundations. Dr. Nugent also reported that the President's Council added 300 new members in December 1994. Of this number, 82 were faculty members. Also, there are now 100 individuals serving as national advocates, distributed all over the country.

BUSINESS PRESENTED BY THE PRESIDENT OF THE UNIVERSITY

President Ikenberry indicated to the trustees that the major developments since the time of the last meeting, November 1994, related to the fact that the Illinois Board of Higher Education (IBHE) made recommendations to the Governor regarding the University's appropriation for Fiscal Year 1996. The president cited both positive and negative aspects of this recommendation. The positive is that if this recommendation were to be approved by the Legislature and signed by the Governor, it would clearly be a step forward for the University. The negative is that this is not as much as the University would have liked. He told the board that there are two very serious central priorities for the University. The first is the need to restore salary competitiveness

1 T h e Committee on Buildings and Grounds considered alterations to the Illini Union at Urbana to comply with fire and safety standards and then received a report from the Air Service Task Force, a group made up of Urbana campus representatives, Champaign County staff, representatives of Champaign and Urbana, and several businesses located in Champaign County. T h e recommendation of the task force called for renaming the University of Illinois-Willard Airport to Champaign County Regional-Willard Airport. Mr. P. David Kuhl, president of Busey Bank and chair of the task force, made the report. Following this, the Committee on Finance and Audit met and received a review of the Annual Report of the Comptroller and a review of the annual compliance audit of the University. (Materials are on file with the secretary.)