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Executive CommitteeNovember 10 , 2005 - Summary
ITEM #1 APPROVAL OF AUGUST 31, 2005 EXECUTIVE COMMITTEE MEETING MINUTES
The minutes were approved.
ITEM #2 APPOINTMENT OF NOMINATING COMMITTEE
The Chair appointed the Nominating Committee. The Nominating Committee will present nominations at the December Board of Directors meeting for the following positions: Chair of the Board; First Vice President; Second Vice President; Recording Secretary, Treasurer and non-student member of the Student Projects Committee.
ITEM #3 LOAN REQUEST
It was requested that a loan be made to the North Campus-University Park Development Corporation (NCUP) for faculty/staff housing pre-construction activities. (The University Corporation provides management and staff support to NCUP.) Collateral would be NCUP revenues. Long-term financing for the faculty/staff housing project is expected in two to three years.
MSP: That The University Corporation Executive Committee recommend that The University Corporation Board of Directors approve a loan of two million dollars ($2,000,000) to the North Campus-University Park Development Corporation for faculty/staff housing pre-construction activities, per the recommended loan terms.
ITEM #4 WORKERS COMPENSATION
The Corporation’s workers compensation coverage is through the Auxiliaries Organizations Workers Compensation Program (AO-COMP). This program was set up separately from the California State University Risk Management Authority (CSURMA), through which the Corporation obtains the balance of its insurance. New legislation makes it possible for the Boards of the two organizations to merge. The resolution of the Board is necessary to make the change.
MSP: That The University Corporation Executive Committee recommend that The University Corporation Board of Directors authorize and empower the President or Secretary of The University Corporation to make application for a certificate of consent to self insure, to the Department of Industrial Relations of the State of California, and to execute any and all documents required for such application, including the Instrument of Undertaking in furnishing security.
ITEM #5 HUD UPDATE
As of October 15, 2005, the Corporation owns eleven homes in Memphis, Tennessee. Two homes were listed with the National Emergency Response Registry, for possible use by Hurricane Katrina victims.
ITEM #6 AUDITED FINANCIAL STATEMENTS FOR THE YEAR ENDED JUNE 30, 2005
The Corporation received a clear opinion letter.
ITEM #7 SEPTEMBER 30, 2005 FINANCIAL STATEMENTS
Bookstore and foodservices performance was positive to budget. Some large projects through Sponsored Programs have ended.
ITEM #8 RESEARCH & SPONSORED PROJECTS – AWARDS AND EXPENDITURE REPORTS (JULY, AUGUST, SEPTEMBER 2005)
The information was received.
ITEM #9 ANNOUNCEMENTS
Retreat: The Board retreat is scheduled for the morning of Monday, November 28, 2005.