Repository: UIHistories Project: Board of Trustees Minutes - 1980 [PAGE 199]

EXTRACTED TEXT FROM PAGE:

1979]

UNIVERSITY OF ILLINOIS

189

Lenz, M r . Stone, M r . Velasquez; no, Mrs. S h e p h e r d ; absent, M r . Neal, Governor Thompson.

General and Professional Self-Insurance Plan

(28) T h e actuarial firm of Tillinghast, Nelson and Warren, Inc., has completed its second study of the funding requirements for the University's self-insurance program for FY 1979. T h e study included a review of claim payments and of the reserve established on pending claims since the plan's inception on August 1, 1976. I n FY 1978 the actuary recommended a maximum, unobligated reserve of $4,000,000. T h e actuary has recommended for FY 1979 that the maximum balance of all reserve funds should be the amount reserved for pending claims and expenses, plus $5,500,000, to be allocated as follows: 1. General and Contract Liability Reserve Fund $ 644 171 2. Hospital and Medical Professional Liability Reserve Fund 3 170 752 3. University of Illinois Hospital Trust Fund 2 009 643 In order to achieve these levels, the following increases will be required: 1. General and Contract Liability Reserve Fund $ 96 000 2. Hospital and Medical Professional Liability Reserve Fund 884 000 3. University of Illinois Hospital Trust Fund 760 000 (The board may be requested to supplement these amounts from time to time.) The Risk Management Policy Committee has concurred in the funding requirements. The vice president for administration has recommended that the Board of Trustees approve funding of the self-insurance program for FY 1979 as recommended. I concur. T h e s t u d e n t a d v i s o r y v o t e w a s : Aye, Miss K o o p e r , M r . W a t s o n ; n o , n o n e ; absent, M r . Sobotka. O n m o t i o n of M r . V e l a s q u e z , this r e c o m m e n d a t i o n w a s a p p r o v e d b y t h e following v o t e : Aye, D r . D o n o g h u e , M r . F o r s y t h , M r . H a h n , M r . H o w a r d , M r . Lenz, Mrs. Shepherd, M r . Stone, M r . Velasquez; no, n o n e ; absent, M r . Neal, Governor T h o m p s o n .

Contracts for Replacement of Air Conditioning System, Animal Housing Facility, Lisle

(29) The president of the University, with the concurrence of appropriate administrative officers, recommends award of the following contracts for replacement of the air conditioning and ventilation system, Animal Housing Facility, at the Pharmacognosy and Horticultural Drug Station, Lisle. T h e award in each case is to the low base bid, plus acceptance of deductive alternates, as follows: General Work, Base Bid, and Alternates No. 1 and No. 2; Ventilation Work, Base Bid. and Alternate No. 2 ; and for Electrical Work, Base Bid, and Alternates No. 2 and No. 3. General Work Wm. J. Scown Building Co., Chicago Ventilation Work Admiral Heating and Ventilating, Inc., Hillside Electrical Work Elmhurst Electric Co., Addison Total $16 634 22 790 3 950 $43 374