Repository: UIHistories Project: Board of Trustees Minutes - 1994 [PAGE 485]

EXTRACTED TEXT FROM PAGE:

1996]

UNIVERSITY OF ILLINOIS

473

8. Approval of the form of the Continuing Disclosure Agreement by the Board with respect to the Bonds. 9. Ratification and confirmation of all actions taken or to be taken by the officers and members of the Board in connection with the sale and delivery of the Bonds to the purchasers; and 10. That the Comptroller and other authorized officers of the Board be and they are hereby authorized and empowered to do and perform such other acts and things and to make, execute, and deliver all such other instruments and documents on behalf of the Board as may be by them deemed necessary or appropriate to provisions of the Official Statement, the Bond Resolution, the Fifth Supplemental Resolution, the Bond Purchase Agreement, the Escrow Agreement, the Continuing Disclosure Agreement, and all acts and things whether heretofore or hereafter done or performed by and of the officers of the Board which are in conformity with the intents and purposes of these resolutions shall be and the same are hereby in all respects, ratified, confirmed, and approved. I concur.

On motion of Ms. Reese, these recommendations were approved by the following vote: Aye, Mr. Engelbrecht, Dr. Gindorf, Mrs. Gravenhorst, Mr. Lamont, Ms. Lopez, Mrs. O'Malley, Ms. Reese; no, none; absent, Dr. Bacon, Mrs. Calder, Governor Edgar. (The student advisory vote was: Aye, Mr. Malone, Mr. Rose; no, none; absent, Mr. Mathew.)

Approve the 1996 Budget for the Mile Square Health Center, Chicago

(12) The interim chancellor at Chicago recommends approval of the budget for the Mile Square Health Center for calendar year 1996 as required by the terms of the 1990 agreement, as amended, between the University Board of Trustees and the city of Chicago. The center's Coordinating Committee approved the budget on December 1, 1995. The vice chancellor for health services, along with the center's Executive Director and Coordinating Committee, has proposed an operating budget of $4,757,944 for the year representing a decrease of 15.1 percent over the actual expenditure level for calendar year 1995. The projected level of services at the center is expected to increase by 10.0 percent from 40,000 patient encounters in 1995 to 44,000 patient encounters in 1996. The University's contribution to this budget is $772,524, an increase of 3.5 percent. A summarized budget is presented below. Net Revenues: Patient Services Bad Debt Reserve Grant Revenues Other Revenues UICMC Revenues Total Net Revenues Expenses: Salaries and Wages Operating Expenses Total Expenses Net Revenues over Expenses $3 007 (376 1 210 144 772 174 703) 949 000 524

$4 757 944 $3 505 743 1 252 201 $4 757 944 - 0 -