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Meeting of the Board of Directors

March 8, 2005 Summary


ITEM #1 CONSIDERATION OF SEPTEMBER 21, 2004 MEETING MINUTES
The minutes were approved

ITEM #2 SB 1262 REQUIREMENT
Senate Bill 1262 went into effect on January 1, 2005. To comply with its requirements, NCUP must establish an audit committee

MSP: That the NCUP Board of Directors authorize the University President to appoint an audit committee.

ITEM #3 2005/2006 BUDGET
The 2005/2006 budget includes $100,000 for the relocation of the DWP substation located in the middle of Medtronic's parcel 4 and higher consulting fees for the faculty/staff housing development efforts.

MSP: That the 2005/2006 fiscal year budget be approved as presented.

Current officers are:

ITEM #4 June 30, 2004 AUDITED FINANCIAL STATEMENTS
NCUP received a clean opinion from the auditors

ITEM #5 JANUARY 31, 2005 FINANCIAL STATEMENTS/INVESTMENT REPORT
The information was received. Revenues are favorable to budget due to increased investment income.

ITEM #6 ANNOUNCEMENTS
Distinguished Alumni Event: The University's Distinguished Alumni dinner and awards ceremony is scheduled for May 14, 2005 at the Hollywood Renaissance Hotel.

Faculty/staff housing: A Request for Proposal is under development to study the demand for faculty/staff housing and to develop recommendations on the types of housing units, phasing of construction and financing options.

Faculty/staff housing: The Valeo Companies' housing needs assessment project is underway. There is consensus that the North Campus is suitable for faculty/staff housing, with some retail possibly included to serve the community. Student housing will remain south of Lassen Street. This study is moving well in relation to the campus' master planning efort.

A resident of the area stated that the community would like to see details of the project, including density and placement of exits/entrances. Residents of the area should bring concerns to the University as part of community's input into the campus' master planning process.





California State University Northridge