Repository: UIHistories Project: Board of Trustees Minutes - 1994 [PAGE 319]

EXTRACTED TEXT FROM PAGE:

1995]

UNIVERSITY OF ILLINOIS

307

By consensus, the board agreed that one vote would be taken and considered the vote on each agenda item nos. 16 through 33 inclusive. The recommendations were individually discussed but acted upon at one time. (The record of board action appears at the end of each item.)

Interim Operating Budget for Fiscal Year 1996

(16) In recent years the trustees have approved the continuation of the previous year's budget into the next fiscal year when legislative action upon University appropriations was not completed in time to be translated into detailed budget recommendations. Inasmuch as the situation described is expected to occur again this year, the president of the University requests authorization to continue in effect, beginning July 1, 1995, and continuing thereafter until further action of the board, the operating budget for Fiscal Year 1995 as it exists on June 30, 1995. Authorization is also requested, in accord with the needs of the University and the equitable interest involved and within total resources: (a) to accept resignations; (b) to make such additional appointments as are necessary, and to approve the issuance of notices of nonreappointment, subject to the provisions of the University of Illinois Statutes, General Rules Concerning University Organization and Procedure, and the Policy and Rules — Nonacademic; and (c) to make such changes and adjustments in items included in the interim budget as are needed. Such changes are to be accounted for in the comptroller's quarterly financial reports, or in reports to the board by its secretary.

On motion of Ms. Reese, authority was given as requested by the following vote: Aye, Mrs. Calder, Dr. Gindorf, Mrs. Gravenhorst, Mr. Lamont, Ms. Lopez, Mrs. O'Malley, Ms. Reese; no, none; absent, Dr. Bacon, Governor Edgar, Mr. Engelbrecht. (The student advisory vote was: Aye, Mr. Didato-Castillo; absent, Mr. Rose.)

Banking Services, First National Bank of Springfield (UIS Depository, Disbursement, Bursar, and Investment Accounts)

(17) Sangamon State University (SSU) has an existing banking relationship with the First National Bank of Springfield (FNBS). SSU has negotiated this relationship through a request for proposal process. The University Office of Cash Management and Investments has reviewed the arrangements and recommends maintaining this relationship. To facilitate the transition from "SSU" to the "University of Illinois at Springfield (UIS)" by July 1, 1995, the following changes are recommended by the vice president and comptroller: Stop the issuance of checks from the SSU depository and disbursement account on June 30, 1995. The account will remain open until December 31, 1995, to allow outstanding checks to clear. On July 1, 1995, open a new account at FNBS under the name "University of Illinois at Springfield" with the UI Federal Employer Identification Number (FEIN). This account will serve the same needs as the one it is replacing: depository activity, accounts payable disbursements, and payroll disbursements. Close the State Imprest account currently at the Illinois Public Treasurers Investment Pool (IPTIP) and replace this with a locally funded bursar account at FNBS.