Repository: UIHistories Project: Board of Trustees Minutes - 1976 [PAGE 645]

EXTRACTED TEXT FROM PAGE:

634

BOARD OF TRUSTEES

[May

19

Yield Date Security (Percent) Purchases: 3/25 $ 106 532 13 Continental Bank 5V4 percent certificate of deposit due 6/23/76 5.50 $ 4/5 2 000 000 00 First National Bank of Chicago 5.05 percent certificate of deposit due 6/28/76.. 5.05 2 4/5 500 000 00 U.S. Treasury bills due 7/15/76... 4.98 4/5 500 000 00 U.S. Treasury bills due 7/22/76... 4.99 4/8 500 000 00 U.S. Treasury bills due 7/8/76 5.01 4/20 1 000 000 00 Busey First National Bank 5.20 percent certificate of deposit due 8/20/76... 5.20 1 4/20 1 000 000 00 First National Bank of Chicago 4.95 percent certificate of deposit due 7/2/76. . . 4.95 1 4/21 128 000 00 Household Finance demand notes.. 5.26 4/22 1 000 000 00 Continental Bank 4% percent time deposit due 6/15/76 4.63 1 4/23 23 000 00 Associates demand notes 5.26 4/27 556 703 13 Harris Trust and Savings Bank 4»/i percent certificate of deposit due 6/15/76... 4.75 4/27 165 000 00 U.S. Treasury bills due 3/8/77 5.72 4/29 42 000 00 Associates demand notes 5.26 4/29 2 000 000 00 First National Bank of Chicago 4.85 percent certificate of deposit due 6 / 2 / 7 6 . . . 4.85 2 O n motion of Mr. Livingston, the report was approved. SECRETARY'S REPORT

Face Value or Number of Shares

Amount 106 532 13 000 493 492 493 000 111 628 741 00 11 89 00

000 000 00 000 000 00 128 000 00 000 000 00 23 000 00 556 703 13 157 131 56 42 000 00 000 000 00

T h e Secretary presented for record appointments to the faculty and changes of status made by the President; declinations, resignations, and a termination; leaves of absence; and retirements. A copy of die report is filed with the Secretary. ANNOUNCEMENT FROM THE PRESIDENT OF THE BOARD President Neal announced that an executive session had been requested and would be convened to consider information with regard to an appointment. RECESS AND EXECUTIVE SESSION Following a short recess, the Board reconvened in executive session and considered the following item of business: DETERMINATION OF THE PRESIDENT'S SALARY Mr. Neal asked tfiat staff and others be excused, with die exception of the Trustees, the Secretary, and die Comptroller. He then asked Mr. Brady, Comptroller and Vice President for Administration, to present and review comparative data on presidential salaries. M r . Brady presented information obtained on a confidential basis from Big T e n institutions as well as information concerning fringe benefits and other aspects of presidential compensation at other institutions. H e then suggested (1) that, in the light of present budget expectations for FY 1977, he be directed to enter in the budget for 1977 a salary increase of 2¥t percent for the President;