Repository: UIHistories Project: Board of Trustees Minutes - 1986 [PAGE 92]

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1984]

UNIVERSITY OF ILLINOIS

81

payment of $96,000 (which may be adjusted by annual cost-of-living changes) and for the necessary fire insurance and extended coverage, public liability and workmen's compensation insurance, the cost of all utilities, real estate taxes, and necessary interior and exterior repairs. In addition, the Athletic Association would purchase the inventory of pro shop merchandise, supplies, furniture, and equipment on the premises and would buy all accounts receivable of the Racquet Club, subject to reimbursement by the lessor of receivables remaining unpaid 150 days after billing. T h e lease, to begin October 1, 1984, and end September 30, 1989, could be terminated by the association on August 31, 1988, with appropriate written notice and payment to the lessor of $8,000. In addition to using the facility for its own purposes, including practice and competition by the men's and women's tennis teams, the Athletic Association proposes to operate the Racquet Club with outside-membership and court-time rentals and attendant functions for the purpose of generating sufficient revenues to defray the cost of leasing and operating the facility. It is anticipated that the leasing and operation of the facility will be totally self-supporting, but shortages in income would be met from general revenues of the Athletic Association. The chancellor at Urbana-Champaign has recommended approval. The vice president for business and finance concurs. I recommend approval. O n m o t i o n of M r s . D a y , t h i s r e c o m m e n d a t i o n w a s a p p r o v e d b y t h e f o l l o w i n g v o t e : Aye, M r s . D a y , D r . D o n o g h u e , M r . F o r s y t h , M r . H a h n , M r . Howard, M r . Logan, M r . M a d d e n , Mrs. Shepherd, M r . Stone; no, n o n e ; absent, Governor T h o m p s o n . ( T h e s t u d e n t a d v i s o r y v o t e w a s : Aye, M r . L a m m , M r . P i t t m a n ; n o , none.) Purchases (40) 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 list of purchases was 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. The total amounts of these purchases were: From Appropriated Recommended From Institutional Authorized Recommended Grand Total Funds $ Funds $ 123 605 00 2 826 139 07 2 949 744 97 $3 223 839 54 274 094 57

A complete list of the 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 the board for record. O n m o t i o n of M r s . D a y , t h e p u r c h a s e s a u t h o r i z e d by t h 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, D r . D o n o g h u e , M r . Forsyth, M r . H a h n ,