Repository: UIHistories Project: Board of Trustees Minutes - 1968 [PAGE 1050]

EXTRACTED TEXT FROM PAGE:

998

BOARD OF TRUSTEES

[ A p r i l 17

I recommend approval subject to further action by the Illinois Board of Higher Education. O n m o t i o n of M r . Clement, this r e c o m m e n d a t i o n w a s approved. AUTHORIZATION TO W I T H H O L D STUDENT TUITION TO SUPPORT CHICAGO CIRCLE CENTER (13) When the bonds were sold to finance the Chicago Circle Center in 1963, the estimated income was based on enrollment projections available at that time. These called for an enrollment in the year 1967-68 of 14,000 students. Because of the delays in the construction of facilities, actual enrollment in the fall of 1967 was 11,861, or a difference of 2,139 in the number of students than had been anticipated in the financing program. T h e loss of the fee income from these students and of the net income which would have been realized from their purchases, creates a financial problem for the Center. It is now estimated that the Center may incur a deficit in its operation of as much as $300,000. The University is authorized to withhold general student tuition to the extent necessary to support revenue bond projects. A review of student fee and other income realized so far this fiscal year indicates that the estimates of income will be over-realized by at least $300,000. Accordingly, the Chancellor of Chicago Circle, the Executive Vice-President and Provost, and the Vice-President and Comptroller recommend that the Board authorize the withholding of $300,000 from general student tuition to be used to the extent needed to meet the covenants of the resolution authorizing issuance of bonds for the Chicago Circle Center. I concur. O n m o t i o n of M r . C l e m e n t , 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 and a u t h o r i t y w a s given by the following v o t e : A y e , M r . Clement, Mr. Grimes, Mr. H a h n , Mr. Jones, M r . Page, Mr. Pogue, M r . Swain, Mr. Williamson; no, n o n e ; absent, M r . H u g h e s , Governor K e r n e r , Dr. Weatherly. APPROPRIATIONS FOR NONRECURRING EXPENDITURES (14) After review by the Committees on Nonrecurring Appropriations at the Chicago Circle, Medical Center, and Urbana-Champaign campuses, the respective Chancellors recommend the following appropriations from the funds indicated: Chicago Circle General Reserve College of Engineering Department of Energy Engineering, equipment $ 20 800 00 Department of Information Engineering, equipment 29 302 00 Department of Materials Engineering, equipment 13 800 00 Total, Chicago Circle General Reserve (63 902 00) Medical Center General Reserve Renovation and remodeling for which funds are assigned to the Physical Plant Department: Remodeling on the second floor of 721 South Wood Street (old Union Building) for the Office of Nonacademic Personnel , . (52 700 00) Urbana-Champaign General Reserve College of Education Administration, equipment 10 346 00 College of Liberal Arts and Sciences School of Life Sciences, equipment 31 192 00 Renovation and remodeling for which funds are assigned to the Physical Plant Department: Additional funds for remodeling of Noyes East Laboratory for the Department of Chemistry and Chemical Engineering, to match funds received for a grant from the National Science Foundation 23 350 00 Total, Urbana-Champaign General Reserve (64 888 00) Grand Total $181 490 00