Repository: UIHistories Project: Board of Trustees Minutes - 1986 [PAGE 399]

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388

BOARD OF TRUSTEES

[September 12

Hahn, Mr. Howard, Mr. Logan, Mrs. Shepherd, Miss Smith; no, none; absent, Mr. Madden, Governor Thompson. (The student advisory vote was: Aye, Mr. Becker, Mr. Lamm; no, none.)

Purchases (24) The president submitted, with his concurrence, a list of purchases recommended by the directors of purchases and the vice president for business and finance; also purchases authorized by the president. The purchases were presented in two categories: purchases from appropriated funds (i.e., from State appropriations to the University); and purchases from institutional funds. The latter term designates funds received by the University under contracts with the United States government, private corporations, and other organizations; grants from foundations, corporations, and other donors; and University revolving funds authorized by law. T h e total amounts of these purchases were: From Appropriated Recommended From Institutional Authorized Recommended Grand Total Funds $ Funds $ 173 178 75 1 151 541 53 1 324 720 28 $2 220 986 78 896 266 50

A complete list of die purchases, with supporting information (including the quotations received), was sent to each member of the board in advance of the meeting. A copy is being filed with the secretary of die board for record. O n m o t i o n of M r . H o w a r d , t h e p u r c h a s e s a u t i i o r i z e d b y d i e p r e s i d e n t w e r e c o n f i r m e d , a n d t h e p u r c h a s e s r e c o m m e n d e d w e r e a u t h o r i z e d by t h e following v o t e : Aye, M r s . Day, M r . Forsydi, M r s . Gravenhorst, M r . H a h n , 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 , Miss S m i t h ; no, n o n e ; absent, M r . M a d d e n , Governor T h o m p s o n . ( T h e student advisory vote w a s : Aye, M r . Becker, M r . L a m m ; n o , none.) Comptroller's M o n t h l y Report of Contracts Executed (25) The comptroller submitted the September 1985 report of contracts. The report included contractual agreements for payments to the University and contracts in amounts up to $50,000, to be paid by the University. A copy of this report is filed with die secretary.

This report was received for record.

Report of Investment Transactions through August 31,1985 (26) T h e comptroller presented the investment report as of August 3 1 , 1985. Transactions under Finance and Audit Committee Guidelines Date Number Description Sales: 7/12 3 200 shares AZP Group common stock. $ 7/12 740 shares Merck common stock 7/12 $ 1 000 Eli Lilly demand notes Cost/Yield 78 256 00 $ 52 991 51 1 000 00 Amount 88 541 04 82 633 04 1 000 00