Repository: UIHistories Project: Board of Trustees Minutes - 1980 [PAGE 551]

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540

BOARD OF TRUSTEES

[February 21

a new University-wide financial management and accounting system. The study was conducted in response to the growing need for timely and comprehensive financial information to meet management requirements within the University, and to satisfy external reporting requirements. The accounting systems currently in place no longer have the capacity to meet these needs. A financial accounting system is an integrated general and subsidiary ledger record keeping and reporting system, designed to maintain all funds of the organization — including budgets, encumbrances, receipts, disbursements, and journal entries. Financial information may be reported in a variety of ways designed to meet management needs through the flexible reporting system. Such systems are being developed for use by universities nationally. Some are commercially available and were evaluated by the task force. T h e study indicated that the financial accounting system available from Information Associates, Inc. ( I A I ) , of Rochester, New York, best met the requirements of the University. T h e associate vice president for business affairs and the associate vice president for information systems and services have recommended that the comptroller be authorized to enter into a contract with IAI for: (1) a general ledger software program and documentation; (2) a nontransferable, nonexclusive, perpetual license, for the use of the software; (3) seventy days of effort to modify the licensed software to meet the specific requirements of the University; and (4) fifteen days of professional accounting consultation. The contract will cover the period from March 1, 1980, to June 30, 1981 (the anticipated implementation date of the system). T h e cost will be $165,000, plus reimbursements for reasonable and proper expenses incurred for data communication line time, travel and living expenses of IAI's staff while on site, and any nonscheduled overtime required of IAI staff to meet specific implementation deadlines, as approved by the University. In addition, the University has the option to acquire additional software capabilities and consulting support as follows: (1) fifteen days of additional consulting services ($7,500); (2) a monthly processing file ($10,000); (3) a report generator ($7,500); (4) on-line and suspense modules ($36,000); and (5) an object code validation feature ($5,000). Funds are available not to exceed $75,000 in the operating budget of the University Office of Administrative Information Systems and Services for FY 1980. In addition, funds have been included in the University's budget requests for Fiscal Year 1981. The University's obligations to pay any amounts subsequent to June 30, 1980, are subject to the availability of such funds. The vice president for administration concurs in this recommendation. I recommend approval.

Increase in Construction Contracts, Single Student Residence, Medical Center

(28) On October 20, 1978, the Board of Trustees authorized the award of construction contracts for six divisions of work for the Single Student Residence at the Medical Center campus. The contract documents, which include the mechanical divisions of work, were completed prior to the commencement of planning for two other projects, the Central Chilled Water Facility, and the Chicago Illini Union Addition and Recreation Facility. Therefore, the specifications for the Single Student Residence included only the piping capacity for its own heating, air conditioning, and water systems, but recognized that modifications would be required to integrate the mechanical systems of all three facilities. The president of the University, with the concurrence of the appropriate administrative officers, recommends an increase in the following construction contracts for the Single Student Residence to permit the required modifications to the mechanical systems in order that the system may be integrated with the mechanical