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Image 13 of Minutes of the University of Kentucky Board of Trustees, 2011-06-14

Part of Minutes of the University of Kentucky Board of Trustees

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-13- The foundation played a key role in attracting a $150,000 donation from the Richard Gilliam Foundation to develop a state-of-the art, 24-workstation computerized mine design room. The unit also hosted National Mining Association President Hal Quinn, who delivered the 2011 Distinguished Lecture at the UK Boone Center and organized two mining professional workshops on the UK campus dealing with mine ventilation and mine blasting practices. The board considered a proposal made by UK administration to change the structure of the foundation to an advisory board. GG. The Fund for Advancement of Education and Research in the University of Kentucky Medical Center Report Dr. Brockman reported that The Fund for Advancement of Education and Research in the University of Kentucky Medical Center (The FUND) was established in 1959 as a nonprofit corporation to promote, advance, and support the educational, research, charitable, and other purposes of the University of Kentucky Medical Center. The FUND is the corporate entity that accepts and ensures accountability for the unrestricted revenues associated with the professional services provided by faculty who are members ofthe practice plans in the Colleges of Dentistry, Health Sciences, Nursing, and Phannacy and by the physicians in the University Health Service. These professional faculty practice plan eamings are utilized for programmatic purposes within the Health Service and in the colleges where the faculty members hold their primary appointments. The 2011-12 unrestricted FUND budget, as approved by the FUND Board at its annual meeting on May 18, 2011, is $17.9 million. Ofthis amount, $15.1 million, or 84 percent is generated by clinical programs in the College of Dentistry, with the remaining amounts generated by the University Health Service, the Colleges of Phannacy, Nursing, and Health Sciences, and interest eamings. The 2011-12 restricted FUND budget is $5.7 million, and $5.34 million, or 94 percent, is donated from KMSF to the College of Medicine for purposes of enhancement of programs in that college. HH. University of Kentucky Research Foundation (UKRF) Report Mr. Roberts reported that the University of Kentucky Research Foundation Board met on May 16. Dr. Todd opened the program by welcoming everyone and thanking the UKRF board members for their commitment to UK’s research mission. He commented on how successful the weekend’s open house and dedication of the new patient care pavilion had been. He recognized the University’s efforts to provide opportunities for students to engage with our faculty and become involved in research and creative discovery. Dr. Todd also focused on some ofthe growth that has taken place over the past 10 years, not only in our research enterprise and increase in our student body, but also in the area of