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Caption: Board of Trustees Minutes - 1988
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1987] UNIVERSITY OF ILLINOIS 173 Supplemental Agreement for Educational Services with Evanston Hospital Corporation, Chicago (12) On January 14, 1982, the Board of Trustees approved an agreement with Evanston Hospital Corporation whereby University of Illinois nursing students were assigned to Evanston Hospital for clinical education. The agreement indicated that the amount of money the University would reimburse Evanston for the use of its Learning Resources Center would be determined annually: one-third of the costs in the first year; two-thirds in the second year; and full costs in the third and following years. Action to date has been as follows: Approved May 20, 1982 June 16, 1983 July 19, 1984 July 18, 1985 Amount $ 41 391 85 598 120 000 120 000 Period Covered September 1, 1982 through June 30, 1983 July 1, 1983 through June 30, 1984 July 1, 1984 through June 30, 1985 July 1, 1985 through June 30, 1986 Recent contract negotiations, conducted throughout the last several months, have resulted in a reduction in costs to the University. The chancellor at Chicago has recommended that Evanston Hospital Corporation be paid $58,408 for the period September 1, 1986, through June 30, 1987. Funds for this agreement are available in the State appropriated funds budget of the College of Nursing for Fiscal Year 1987. The vice president for academic affairs and the vice president for business and finance recommend approval. I concur. O n m o t i o n of M r . Forsyth, this r e c o m m e n d a t i o n w a s approved by the following v o t e : Aye, Mrs. Calder, M r . Forsyth, Mrs. Gravenhorst, M r . H o w a r d , M r . L o g a n , M r s . S h e p h e r d , M i s s S m i t h , Mr. Wolff; no, n o n e ; absent, M r . H a h n , Governor T h o m p s o n . ( T h e student advisory v o t e w a s : Aye, M r . Filip, M r . Starkeson; no, none.) Authorization to Participate in the Common Fund for Intermediate Investments (13) On September 11, 1986, the board authorized University participation in the Common Fund for Short Term Investments. The University currently has $5,600,000 invested in this fund and anticipates using the fund for investments for periods ranging from 30 to 180 days. The University also has a need to invest certain current and construction funds for a one-to-three-year period. It is believed the Common Fund for Intermediate Investments will provide an ideal investment vehicle for this purpose. The Common Fund for Intermediate Investments was established on April 1, 1986. As of October 1, 1986, the fund had $254 million in assets. The fund is designed to provide an investment vehicle for construction and current funds, which will eventually be expended but will not be drawn upon for at least one year. There is no penalty for early withdrawal. The investment objectives of the fund are: (1) to provide over time a total return in excess of the return on an index of one-to-three-year U.S. Treasury securities; and (2) to generate a current yield in excess of short-term money market securities. Over the first two quarters of its existence, the Intermediate Cash Fund had an annualized total return of 12.2 percent compared with 10 percent for the Merrill Lynch one-to-three-year Treasury Index.
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