Repository: UIHistories Project: Board of Trustees Minutes - 1978 [PAGE 554]

EXTRACTED TEXT FROM PAGE:

1978}

UNIVERSITY OF ILLINOIS

541

Page Memorial Fund be established as a quasi-endowment 1 with the income to be used as the president may designate. I concur. O n m o t i o n of M r s . R a d e r , 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 .

Contract for Software System for Medical Service Plan Billing, Medical Center

(22) The president of the University, with the concurrence of appropriate administrative officers, recommends the award of a contract for the purchase of a software package from Kuhn, Olson, and West, Inc., Munster, Indiana, in the amount of $125,970. T h e package will be used primarily for a patient billing system (currently handled manually) for the Medical Service Plan of the Abraham Lincoln School of Medicine. T h e large volume of transactions does not allow an updated, valid billing and reporting system. The software system developed by Kuhn, Olson, and West, Inc., has been chosen from eight such systems evaluated by the School of Medicine and the Office of Information Systems and Services at the Medical Center. The automated billing system will permit the efficient billing and accounting of professional service fees. Funds (Medical Service Plan) are available in the Restricted Funds, Independent Operations Budget of the College of Medicine. 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 i s s C o n l o n , M r . O v e r s t r e e t , Miss W i n t e r ; no, none. O n m o t i o n of M r . L i v i n g s t o n , t h i s c o n t r a c t w a s a w a r d e d b y t h e following v o t e : A y e , M r . F o r s y t h , M r . H a h n , M r . H o w a r d , M r . L e n z , M r . Livingston, M r . Neal, Mrs. Rader, M r s . Shepherd, M r . Velasquez; no, n o n e ; absent, Governor T h o m p s o n .

Purchases

(23) The president submitted, with his concurrence, a list of purchases recommended by the directors of purchases and the vice president for administration. T h e 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. T h e 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 Recommended Grand Total Funds $ 14 741 00 Funds 628 049 47 $642 790 47

A complete list of the purchases, with supporting information, including the quota1 The term quasi-endowment is used here as defined by the American Institute of Certified Public Accountants in their Industry Audit Guide:. Quasi-endowment funds (funds functioning as endowment) are funds which the governing board of an institution, rather than a donor or other outside agency, has determined are to be retained and invested. Since these funds are internally designated rather than •externally restricted, the governing board has the right to decide at any time to expend the principal.