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Dr. Gannon stated that FCR 4 is related to Acceptance of Interim Financial Report for the
University of Kentucky for the Six Months Ending December 31, 2011. FCR 4 requests the Board
to accept the consolidated financial reports for the six months ending December 31, 2011. He stated
that Angie Martin, Vice President for Financial Operations provided a brief report to the Committee.
As of December 31, 2011, net assets have decreased slightly from $2.57 billion to $2.56 billion
primarily as a result ofthe decline in the value ofthe endowment. On behalf ofthe Finance
Committee, he moved for the acceptance of FCR 4 and it passed without dissent. (See FCR 4 on the
Board of Trustees website, www.uky.edu/ Trustees, under agenda.)
N. Approval ofthe 2010-2011 Endowment Match Program Annual Report (FCR 5)
Dr. Gannon said that FCR5 is related to the Approval ofthe 2010-11 Endowment Match
Program Annual Report. This FCR requests that the Board of Trustees accept the 2010-11
Endowment Match Program Annual Report. The report has been provided separately and is available
online. The Endowment Match Program, also known as ‘Bucks for Brains’, is one of several
programs created as part ofthe trust fund. Pursuant to the Council on Postsecondary Education’s
procedures, the Board of Trustees is to review and accept the annual report on UK’s participation in
the program. On behalf of the Finance Committee, Dr. Gannon moved for the approval of FCR 5
and it passed without dissent. (See FCR 5 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
O. Patent Assignment Report (FCR 6)
Dr. Gannon said that FCR6 relates to the Patent Assignment Report. The committee
welcomed Dr. Jim Tracy, Vice President for Research, who presented the patent assignment report
for the period July 1 through September 30, 2011. The University has filed two patent applications
during this period and five patents have been issued. On behalf ofthe Finance Committee, Dr.
Gannon moved for the approval of FCR 6 and it passed without dissent. (See FCR 6 on the Board of
Trustees website, www.uky.edu/ Trustees, under agenda.)
P. Capital Construction Report (FCR 7)
Dr. Gannon stated that FCR 7 is related to Capital Construction Reports. The capital
Construction reports for the three months ending September 30, 2011 and the three months ending
December 31, 2011 were presented by Bob Wiseman, VP for Facilities. Two quarterly reports were
presented as the Board had an abbreviated December meeting. The reports included six new
contracts, four contracts were completed, four contracts were amended, and there were 30 change
orders greater than $25,000. On behalf ofthe Finance Committee, Dr. Gannon moved for the
approval of FCR 7 and it passed without dissent. (See FCR 7 on the Board of Trustees website,
www.uky.edu/Trustees, under agenda.)
Q. Authorization of Ground Lease for Student Housing (FCR 8)
Dr. Gannon said that FCR 8 is related to the Authorization of Ground Lease for Student
Housing. This recommendation is for the Board of Trustees to authorize the President, or his
designee, to enter into a long-temi ground lease with Education Realty Trust, Inc. or "EdR” for