Repository: UIHistories Project: Board of Trustees Minutes - 1986 [PAGE 316]

EXTRACTED TEXT FROM PAGE:

1985]

UNIVERSITY OF ILLINOIS

305

subject to the availability of such funds. The vice president for business and finance has recommended execution of the agreement as described. I concur. O n motion of Mr. Logan, this recommendation was approved by the following vote: Aye, Mrs. Day, Mr. Forsyth, Mrs. Gravenhorst, M r . H a h n , M r . Howard, Mr. Logan, Mr. Madden, Mrs. Shepherd, Miss Smith; no, none; absent, Governor Thompson. ( T h e student advisory vote was: Aye, Mr. Lamm, M r . Pittman; no, none.) Renewal of Agreement, University of Illinois Foundation

(22) On November 18, 1982, the Board of Trustees adopted revised guidelines governing certain fiscal procedures, including those between the University and University-related organizations. The University of Illinois Foundation asked to be designated as a University-related organization, as provided in the guidelines, and authorized a basic agreement effective June 30, 1983, with the Board of Trustees for that purpose. The Foundation desires to renew this agreement for Fiscal Year 1986. The agreement provides that the Foundation will provide fund-raising services and other assistance to attract private gift funds to support University programs. The Foundation agrees to accept and administer such gifts according to terms specified by the donor, to inform the University of all gifts received for the benefit of the University, and to apply the same in accordance with the terms of the gift or, as in the case of all undesignated gifts, as the University may determine. The Foundation will also provide management and supervisory services for the maintenance of donor records on the University's Alumni-Foundation Information System (AFIS). To partially support the annual operating costs of the program and services described, the agreement provides for the payment by the University of an amount not to exceed $1,000,000" for FY 1986, contingent on the availability of funds. Payments will be made during the course of the year based on the actual costs incurred. The University will continue to provide support through the Office of Development for the maintenance of donor records and other fund-raising support functions. For FY 1986, the level of support will approximate $730,000." Certain routine business and financial services (e.g., investment and accounting) will be provided the Foundation as needed. The agreement provides the Foundation with access to the University's AFIS for the purpose of conducting the fund-raising activities. The University will provide approximately $100,000 to support such access. In addition to this agreement, a separate rental agreement will be developed regarding office space occupied by the Foundation in University facilities. Reimbursement to the University for the lease of this space will be described in this rental agreement. The agreement will he effective July 1, 1985, through June 30, 1986, subject to termination by either party with 90 days written notice to the other party. Funds to support the agreement are included in the appropriation bill of the General Assembly to meet the ordinary and contingent expenses of the University for FY 1986. These funds will be included in the University's budget request for FY 1986 to be presented to the Board of Trustees. The agreement is subject to the availability of such funds. The vice president for business and finance has recommended execution of the agreement as described. I concur.

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The contract amount for FY 1985 wai $900,000. The contract amount for FY 1985 was $338,000.