Repository: UIHistories Project: Board of Trustees Minutes - 1984 [PAGE 439]

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BOARD OF TRUSTEES

[November 17

Committee and the comptroller, after consultation with university counsel and the investment managers of the First National Bank of Chicago, are recommending additional changes to the policies consistent with present and anticipated financial requirements, expected total return, price-level trends, and general economic conditions. These changes will alter certain restrictions currently placed on the investment managers; however, specific objectives and criteria have been developed to measure performance. The changes recommended for endowment funds are as follows: 1. Eliminate the ranking on stocks authorized for investment. 2. Eliminate the buy and sell limits for stocks. No changes are recommended to the policies related to current funds. In addition, the investment objectives of the various funds to establish appropriate performance-measurement criteria are reaffirmed. Attachment I summarizes present and proposed investment restrictions. Attachment I I reflects investment objectives by fund and recommended preformance measurement criteria. (Copies of the attachments are filed with the secretary of the board for record.) The Finance and Audit Committee and the comptroller recommend adoption of the revised policy as stated. I concur.

On motion of Dr. Donoghue, this recommendation was approved. By consensus, the board agreed that one roll call vote would be taken and considered the vote on each agenda item nos. 22 through 32 inclusive. The recommendations were individually discussed but acted upon at one time. (The record of board action appears at the end of each item.)

Subcontracts, Prevention of Child Abuse, College of Medicine at Peoria

(22) T h e Ounce of Prevention, Incorporated, of Chicago has awarded a contract for $82,440 for the College of Medicine at Peoria for the period October 26, 1983 through June 30, 1984. Its purpose is to prevent child abuse and neglect by teenage parents through a program of reducing parents' stress and isolation, teaching parents skills, and promoting realistic expectations among teenage parents. (This contract will allow the University to expand similar services it is already performing under a separate contract with the Ounce of Prevention, Inc.) 1 Included in the new agreement are allocations for two subcontracts: $15,606 with Lutheran Social Services of Illinois; and $34,594 with the Women's Christian Home Mission. These organizations will provide instruction to new parents, and casework, counseling, and other social services. T h e chancellor at Chicago has recommended the approval of these two subcontracts, subject to the receipt of funds from the Ounce of Prevention, Inc. The vice president for business and finance concurs. I recommend approval.

On motion of Dr. Donoghue, this recommendation was approved by the following vote: Aye, Mrs. Day, Dr. Donoghue, Mr. Forsyth, Mr. Howard, Mr. Logan, Mr. Madden, Mr. Stone; no, none; absent, Mr. Hahn, Mrs. Shepherd, Governor Thompson. (The student advisory vote was: Aye, Mr. Bolen, Mr. Milkint; no, none.)

1

The other contract was approved by the Board of Trustees on July 21, 1983.