Repository: UIHistories Project: Board of Trustees Minutes - 1988 [PAGE 459]

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1988]

UNIVERSITY OF ILLINOIS

449

T h e cumulative grade point average currently required (4.50) for graduation with Departmental Distinction and High Distinction is higher than the averages required in criminal justice major courses (4.25), and is also higher than that required by most other social science departments. T h e proposed changes will provide a more reasonable set of expectations.

This report was received for record.

Changes in Senate Bylaws (Report for Information) (14) T h e University of Illinois Statutes require that changes in senate bylaws be reported to the Board of Trustees. Proposed changes in senate bylaws at both campuses were presented to the board and filed with the secretary for record. A m e n d m e n t of Grant Agreement, Willard Airport (15) T h e interim chancellor at the Urbana campus has recommended that the University submit a request for a second amendment to an existing grant agreement with the Federal Aviation Administration (FAA), dating from 1973. 1 T h e award resulting from eminent domain proceedings begun by the University to acquire land required for the airport terminal building exceeded State and university appraisals and budget. T h e FAA and the Illinois Department of Transportation, Division of Aeronautics, have recommended a second amendment to the scope of the grant to permit all funds remaining in the grant (approximately $300,000) to be applied to the purchase of the land. T h e vice president for business and finance concurs in the recommendation. I recommend approval.

On motion of Mr. Wolff, this recommendation was approved.

Lockbox Depository Account, M a r i n e American National Bank of Champaign (16) T h e University is currently using The First National Bank of Chicago for remittance processing services for certain accounts receivables at the Urbana campus. Under the present contract, which expires June 30, 1988, mail remittances are processed and checks encoded and deposited at T h e First National Bank of Chicago. T h e vice president and comptroller is planning to expand these services to the Chicago campus and has recently solicited proposals for the combined Urbana and Chicago services. Proposals were received from eight banks, with Marine American National Bank of Champaign submitting the proposal offering the greatest economic advantage. T h e cost of the Marine proposal is estimated to be $.20 per item. This compares with a current cost of approximately $.31 per item and should produce an annual savings of $22,000. The vice president and comptroller has requested authority from the Board of Trustees to establish a lockbox depository account with the Marine American National Bank of Champaign. T h e account would be opened as soon as all necessary documentation can be completed and filed. The new lockbox would then be phased in from February through June 1988, with July 1, 1988, as the target date for complete changeover. Upon conclusion of the phase-in period, service with the current processor, T h e First National Bank of Chicago, will be discontinued. T h e vice president and comptroller also has recommended that the board adopt the following resolution authorizing the opening of the lockbox depository account. I recommend approval.

1

FAA.

In November 1986, the board approved the first amendment to grant agreements with the