xt7cnp1wdt2d https://exploreuk.uky.edu/dips/xt7cnp1wdt2d/data/mets.xml Lexington, Kentucky University of Kentucky 20080304 minutes English University of Kentucky Contact the Special Collections Research Center for information regarding rights and use of this collection. Minutes of the University of Kentucky Board of Trustees Minutes of the University of Kentucky Board of Trustees, 2008-03-04. text Minutes of the University of Kentucky Board of Trustees, 2008-03-04. 2008 2011 true xt7cnp1wdt2d section xt7cnp1wdt2d 
AGENDA
Meeting of the Board of Trustees University of Kentucky 1:00 P.M . March 4, 2008 18 th Floor Patterson Office Tower
Roll Call
Approval of Minutes - (Consent)
Minutes - January 22, 2008 President's Report and Action Items
PR 1	President's Report to the Trustees
	Carol Martin Gatton College of Business and Economics Report - Dean
	Devanathan Sudharshan
PR 2	Personnel Actions (Consent)
PR 3	Appointment of Vice President for Institutional Diversity
PR 4	University Research Professorships
PR 5	Appointment to Board of Directors University of Kentucky Gluck Equine
	Research Foundation, Inc.
PR 6	Honorary Degree Recipients
PR 7	Naming of University Building - Polk-Dalton Clinic
PR 8	Proposed Amendment to Governing Regulations: Tobacco Policy
PR 9	Proposed Amendment to Governing Regulations: The Staff Senate
Academic Affairs Committee Report	
AACR 1	Candidates for Degrees - Bluegrass Community and Technical College
Finance	Committee Report
FCR 1	Approval of Leases
FCR2	Renovate/Expand the Center for Applied Energy Research
FCR 3	Acceptance of Interim Financial Report for the University of Kentucky for
	the Six Months Ended December 31, 2007
FCR 4	Capital Construction Report
FCR 5	Patent Assignment Report
FCR 6	UKA/ulcan Exchange of Properties
Investment Committee Report


 

Student Affairs Committee Report University Health Care Committee Report Other Business
Athletic Association Board of Directors Meeting Report - Frank Shoop Adjourn


 

Minutes of the Meeting of the Board of Trustees of the University of Kentucky, Tuesday, March 4, 2008.
The Board of Trustees of the University of Kentucky met at 1:00 p.m. (Lexington time) on Tuesday, March 4, 2008, in the Board Room on the 18th Floor of Patterson Office Tower.
A. Meeting Opened
Ms. Mira Ball, chair, called the meeting to order at 1:08 p.m. and asked Pam May, secretary of the Board, to call the roll.
B. Roll Call
The following members of the Board of Trustees answered the call of the roll: Mira Ball, Stephen Branscum, Penelope Brown, Dermontti Dawson, Jeff Dembo, Ann Haney, Pamela May, Sandy Bugie Patterson, Phillip Patton, Nick Phelps, Erwin Roberts, Charles Sachatello, Frank Shoop, Myra Leigh Tobin, JoEtta Wickliffe, Billy Wilcoxson, Russ Williams, and Ernie Yanarella. Absent from the meeting was James Hardymon and Billy Joe Miles. Ms. May reported that a quorum was present.
The university administration was represented by President Lee T. Todd, Jr., Provost Kumble Subbaswamy, Executive Vice President for Finance and Administration Frank Butler, and General Counsel Barbara W. Jones.
The university faculty was represented by Chair of the University Senate Council Kaveh Tagavi, and the university staff was represented by Chair of the Staff Senate Kenneth Blair.
Members of the various news media were also in attendance.
C. Consent Items
Ms. Ball called attention to the following consent items on the agenda and asked for any questions or corrections:
Minutes - January 22, 2008 PR 2 Personnel Actions
Ms. Haney moved that the consent items be approved. Ms. Wickliffe seconded the motion, and it carried without dissent. (See consent items at the end of the agenda.)


 

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D.      President's Report to the Trustees (PR 1)
President Todd began his report by asking Mr. Phelps to introduce the student leaders of DanceBlue. He said that DanceBlue has been a 12-month experience, but the 24-hour dance marathon was probably the most trying. He mentioned Men's Basketball Coach Billy Gillispie's appearance at DanceBlue and informed the Board of Coach Gillispie's $10,000 donation to the successful event. He said that he and Mrs. Todd had a reception at Maxwell Place to honor this fine group of student leaders and their faculty and staff advisors for having one of the most positive student driven activities on campus.
Mr. Phelps asked the student leaders and the faculty and staff supporters to come forward and be recognized. He informed the Trustees that he served on the Executive Board of DanceBlue last year, had a great experience, and had stayed close to this group of dear friends. He recognized Mr. David Ritchie, chair of DanceBlue, Nathan Simon, corporate relations chair, Britt Pennington, dance programming chair, Joey Wright, operations chair, Erin Priddy, special events chair, Chris Crumrine, key member of the Executive Board and chief of staff for the Student Government Association, and Megan Tolley, vice chair of DanceBlue this year. He recognized others in the audience who keep the students motivated: Ms. Laura Hatfield, assistant director of student involvement, and Ms. Jennifer Mynear, the DanceBlue advisor and chair of the Jarrett Mynear Foundation. He also recognized Mr. Mark Denomme, DanceBlue's technology advisor, Mr. Denomme's wife Susannah from the Office of Development, and Heather Yattaw, an incredible person and programming advisor to DanceBlue.
Mr. Phelps said that it was not a surprise that the group of leaders succeeded this year, but the level of success was unexpected. The DanceBlue event received approximately $450,000 in contributions, bringing the 3-year total to over $800,000 for the Pediatric Oncology Clinic at the Children's Hospital. The student leaders and advisors received a round of applause and standing ovation. Mr. Phelps said this group's personal sacrifice, along with approximately 500 dancers, was spectacular. It was a fabulous event capped off by Coach Billy Gillispie's appearance and pledge of $10,000.
Mr. Phelps reminded the Board that Mr. Ritchie has been accepted to the College of Medicine, and Mr. Simon has been accepted to the College of Law. With their busy schedules, they found time to give back to the university and build this tradition.
President Todd said that he and Mrs. Todd were there at the beginning of the event, and Mr. Williams was there at the closing of the event because he called to tell him about Coach Gillispie's pledge. He congratulated the students and advisors on their success and said it was a phenomenal event.
President Todd continued his report and called attention to certain items in PR 1.


 

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President Todd Unveils 13 New Commonwealth Collaborative Projects President Todd reported that he announced 13 more Commonwealth collaborative projects. The university had 23 projects and has added 13 additional projects. The projects aim is to improve health care, education, economic development, the environment, and exposure to cultural events. The projects are accomplishing phenomenal results.
Thirty-two High-tech Startups with UK Ties Win Venture Club Recognition President Todd said that the Lexington Venture Club was formed several years ago. There are 32 companies with direct ties to UK. Each year the university celebrates new investments in early-stage companies in the Lexington area. Bluegrass early-stage companies attracted a record $64.5 million in funding during 2007 with more than half of that coming from venture capital. Venture capital investment has grown from zero dollars in 2003 to over $37 million in 2007. The average salary for the 341 full-time employees is $61,000.
Reader's Digest Calls UK the Nation's Fourth Safest Campus Reader's Digest recognized the University of Kentucky as the nation's fourth safest campus. Safely has been a priority at the university.
UK is Chosen as Participant in Energy Department's Solar Decathlon UK is one of only 20 university-led teams from around the world selected to compete in the United States Decathlon of Energy 2009 Solar Decathlon. There were only 12 universities in the United States chosen to participate. The Solar Decathlon brings together teams in a competition to design, build, and operate the most attractive and energy-efficient solar-powered house. The collaborative effort will be led by three principal investigators from the College of Design, College of Agriculture, and College of Engineering. It will involve students, faculty, and staff from six collaborating colleges and 16 centers and departments on the UK campus. The group is working on a house that will be solar driven. They will have to disassemble the house and take it to a mall in Washington D.C. to compete in the international competition.
UK-developed Lung Cancer Blood Test is Licensed to Companies A lung cancer blood test developed by UK faculty members has moved closer to the marketplace. This lung cancer blood test has been able to detect the possibility of lung cancer in patients years before being detected by a CT scan. No other test has been able to successfully detect lung cancer.
UK Hosts Metropolitan Opera's Regional Auditions; Student Advances Everett McCorvey has positioned UK's opera program so well that the university is now hosting the Tri-State Regional Finals for the Metropolitan (Met) Opera National Council Auditions. Afton Battle won this region and got to perform on the stage of the Met with a few other people in the nation. This is a tremendous honor for her and the university. It is a great recruiting tool for the School of Music.


 

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Exstream Software World Headquarters Opens at Coldstream Exstream Software, one of the world's fastest growing technology companies, has opened its international headquarters at UK's Coldstream Research Campus. They have approximately 150 employees. It was recently announced that the 10-year-old Lexington company will become part of Hewlett-Packard. Hewlett-Packard is committed to keeping the company in Kentucky and possibly growing that division. The two founders have had three other start-up companies.
Kentucky Begins Celebrating Lincoln Bicentennial with Program at UK Lincoln enthusiasts began celebrations in anticipation of the bicentennial of U. S. President Abraham Lincoln.
UK Events Will Celebrate Culture of India
UK is presenting four events focusing on the culture of India during February and March 2008. The former president of India will be on campus March 24 for a presentation, and the Board is invited to the event.
Jacqueline Noonan to Receive Lifetime Achievement Award
Dr. Jacqueline A. Noonan has won a Lifetime Achievement Award which will be
presented to her at the National Physician of the Year Awards on March 18. Dr. Noonan
is one of the real pioneers in pediatric medicine.
President Todd asked the Board to read the other items in the report at their
leisure.
E.      Gatton College of Business and Economics Report
Dean Devanathan Sudharshan said it was with tremendous enthusiasm and humility that he presents the report on the Gatton College of Business and Economics. He thanked the Board for the opportunity to present the report and gave praise to President Todd for his tremendous inspiration to him and his colleagues. He presented a PowerPoint presentation providing a brief overview of the college.
Dean Sudharshan began his remarks by saying that the college is fully engaged in the Commonwealth and President Todd's vision for the University of Kentucky to become a Top 20 public research institution by 2020. A metaphor to think about this vision is that of building the international space station. It needs a big vision and then an enormous amount of planning and collaboration. Dean Sudharshan said that he thinks of the four Ps as instrumental to the pursuit of such a goal. The four P's are: People, Programs, Physical Facilities, and Performance Platforms. People, refers to faculty, staff, students, and alumni. Programs refer to research, pedagogical, and engagement programs. Physical Facilities refers to the building and technology. Performance Platforms refers to communications infrastructure, development infrastructure, advising, placement (or career services) and incentive systems, and other organizational processes.


 

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He pointed out that the Gatton College has developed a plan for improvement of all the four Ps. For example, it has proposed a new building concept, is offering innovative programs of study, and continues to recruit and retain faculty of high caliber. Dean Sudharshan pointed out that by innovation and improvements in the four Ps, the Gatton College will help create more jobs and foster more entrepreneurial activity in the Commonwealth.
He stressed that strong academic programs and innovative research are what set top-ranked business schools apart from other schools. Dean Sudharshan then highlighted some specific ways in which the Gatton College is working towards becoming a Top 20 Business School:
• More than 500 books and articles have been published by the college's faculty over the past five years.
• The Gatton College of Business and Economics has 10 Endowed Chairs and 39 Endowed Professorships.
• The Gatton College of Business and Economics has nine research centers. The most recent of these are the Center for Poverty Research and LINKS: International Center for Research on Social Networks in Business.
The Center for Poverty Research is one of only
three federally designated Area Poverty Research Centers
in the nation. The center's research mission is a
multidisciplinary approach to the causes, consequences,
and correlates of poverty and inequality in the United States,
with a special emphasis on the residents of the south.
LINKS: The International Center for Research on
Social Networks in Business is designed to bring together scholars
from different academic disciplines who share a common interest
in social network research and application.
• The Gatton College of Business and Economics provides a classroom experience that combines solid research with hands-on learning opportunities. It offers innovative degree programs and enrichment opportunities to its students.
o  Gatton's 11-Month MBA program combines first-rate teaching with three hands-on modules. These modules provide students the opportunity to work side-by-side with corporate firms through new product development, supply chain management, and mergers and acquisitions. It has grown in size from 51 students in its first year to 74 in its third year. The class has been capped at 78 for the fourth class due to constraints on faculty availability and physical facilities. Companies hiring to date include Deloitte, PWC, KPMG, Crowe Chizek, Humana, as well as several new companies, including Cummins and Eastman. The MBA program faces some challenges in becoming atop-rated program, but it also presents nice opportunities.


 

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One major challenge is the salary and bonus packages for its graduating MBA students.
•   Undergraduate students at the Gatton College have many enrichment
opportunities to further hone their skills. They range from the professionalism series to the Project Connect programs. The faculty strives to prepare the students for today's business world. Dean Sudharshan briefly introduced two signature undergraduate programs recently launched by the Gatton College.
o  Global Scholars
Gatton's Global Scholar program is designed for high-achieving incoming students. Global Scholars are required to spend a semester abroad. This year's Global Scholar class consists of 26 students. Across the freshmen and sophomore classes, the college has a total of 42 Global Scholars. Dean Sudharshan introduced Sean Cockrell, a student in the Global Scholars Program. Sean described his experience in the Global Scholars program and told why he thought it was a valuable program.
o  Scholars in Engineering and Management (SEAM)
A joint program between the Gatton College of Business and Economics and the College of Engineering, the SEAM program is open to exceptional first-year business and engineering students. At the core of the program lies an internship program that partners students with major corporations and allows the students to help bring a product to market. Currently, there are 18 SEAM participants.
Dean Sudharshan stated that, above all else, the Gatton College of Business and Economics exists to educate and prepare men and women for world-wide business leadership. Over the past three years, the Gatton College has enrolled an average of 2,600 students. Enrollments are managed by setting GPA requirements for admission as upper division students in the college due to constraints on physical facilities and faculty. For accreditation purposes, the Gatton College is compared with benchmark institutions' student-faculty ratio of 24:1. The comparable Gatton College ratio is 29.5:1.
UK's Top 20 Business Plan calls for an increase in the undergraduate student body of 30 percent. To meet this need while attaining student-faculty ratios comparable to its benchmark institutions, the Gatton College needs to have new facilities and additional faculty and staff.
Dean Sudharshan also pointed out that the college recognizes that in order for the university to achieve Top 20 status, it must achieve a top ranked business school. Among the university's benchmark schools, 19 of the 20 schools have ranked business schools.
Many of Gatton College's benchmark schools have buildings that facilitate learning and meet the needs of today's learning styles and student demand. They are


 

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attractive, high-tech facilities. In many cases, a new building helps improve a school's ranking status as was the case with Purdue University and Northern Illinois University.
He emphasized that armed with new facilities, the Gatton College of Business and Economics will be well equipped to continue preparing students for years to come, even with the nearly 30 percent student increase predicted. This will only prove to strengthen our ties with the state and to help improve the quality of life in Kentucky. He said that he is confident that the college's success translates into success for the Commonwealth.
In closing, Dean Sudharshan said that the Gatton College of Business and Economics is committed to making its students world-ready. Upon graduation, the students will be ready to enter today's business world and lead it with vision and innovation.
Dean Sudharshan thanked the Board for their attention and their efforts in helping the university achieve its goals. He received a round of applause from the Board.
President Todd thanked Dean Sudharshan and asked for questions. He pointed out that a new building for the college would be a two-for-one deal; getting a new building next to Memorial Coliseum and opening up its current building for badly needed space for faculty. It would be a very good investment for the state.
F.      Appointment of Vice President for Institutional Diversity (PR 3)
President Todd said that PR 3 is a recommendation that the Board approve the appointment of Dr. Judy Jackson as vice president for institutional diversity, effective July 1, 2008. Dr. Jackson is presently a dean at Vassar College in New York. She worked with the provost at Massachusetts Institute of Technology (MIT) for ten years. President Todd noted that Dr. Jackson worked for Professor Arthur Smith, who was his favorite professor while he was there, and Dr. Smith recommends Dr. Jackson highly.
Dr. Jackson is known throughout the country for her work in diversity. Her parents were sharecroppers, and she has several sisters who are college graduates. She worked at MIT while obtaining her Ph.D. at Harvard. The University of Kentucky will be her first totally public institution where she will have a community that she can work with to achieve her goals.
President Todd said that the search took a long time, but the university ended up with one of the best in the nation. He gave Provost Subbaswamy and the search committee credit for the successful search.
On motion made by Ms. May and seconded by Dr. Sachatello, PR 3 was approved. (See PR 3 at the end of the Minutes.)


 

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Mr. Phelps noted that some of the student leaders met with Dr. Jackson, and she is very excited about the position. He said that she is a very honest person, and he expects to see some change very quickly.
G. University Research Professorships (PR 4)
President Todd said that PR 4 recognizes some of the university's top research professors who are helping the university meet the goals that the state has set. They have done a spectacular job, and it is a credit to them to be selected for this recognition. He asked Provost Subbaswamy to introduce the professors.
Provost Subbaswamy said he was pleased to recognize the winners of the University Research Professorships for the next year. They are outstanding researchers and faculty members. They are teachers and good citizens of the university. He recommended that Professor John Anthony of the Department of Chemistry, Professor Jonathan Glixon of the School of Music, Professor James Griffioen of the Department of Computer Science in the College of Engineering, and Professor Craig Rush of the Department of Behavioral Science be named University Research Professors for 2008-09. He recognized Dr. Rush's wife Barbara who was in the audience. The professors received a round of applause from the Board.
Provost Subbaswamy also recognized Dr. Michael Speaks, dean of the College of Design, who was unable to attend the last Board meeting. He asked Dr. Speaks to stand and be recognized. Dr. Speaks received a round of applause.
Ms. Ball asked for a motion of approval for PR 4. Mr. Branscum moved approval. His motion was seconded by Mr. Williams and carried without dissent. (See PR 4 at the end of the Minutes.)
H. Appointment to Board of Directors University of Kentucky Gluck Equine Research Foundation, Inc. (PR 5)
President Todd said that PR 5 recommends the appointment of Lucy Young Hamilton to the Board of Directors of the University of Kentucky Gluck Equine Research Foundation for a four-year term ending in December 2012. He noted that Ms. Hamilton previously served on the Board of Directors of the Gluck Equine Research Foundation. Mr. Shoop moved approval. Mr. Dawson seconded the motion, and it carried without dissent. (See PR 5 at the end of the Minutes.)


 

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I.
Honorary Degree Recipients (PR 6)
President Todd said that he was pleased to present the following names for consideration of honorary degrees:
He gave brief comments about each candidate and asked for a passage of PR 6. Mr. Phelps moved approval. Mr. Shoop seconded the motion, and it carried without dissent. (See PR 6 at the end of the Minutes.)
J.       Naming of University Building - Polk-Dalton Clinic (PR 7)
President Todd said that PR 7 is a naming opportunity that has been approved by the Committee on Naming University Buildings. The recommendation is for the Board to approve the renaming of UK HealthCare's Kentucky Clinic North to the Polk-Dalton Clinic. He gave full credit to Don Ball for bringing this naming opportunity to the university's attention.
Dr. John Polk of Midway, Kentucky started this clinic in 1918, shortly after graduating from Howard University Medical School. He operated the clinic until his death in 1936. In 1940 Dr. Rufus Dalton of Georgetown, Kentucky reopened Polk's clinic and served there until his death in 1953. Their practice was in the historic building that is presently the headquarters for the Lexington-Fayette County Urban League.
On motion made by Dr. Sachatello, seconded by Mr. Roberts and carried, PR 7 was approved without dissent. (See PR 7 at the end of the Minutes.)
K.      Proposed Amendment to Governing Regulations: Tobacco Policy (PR 8)
President Todd said that PR 8 is a proposed revision to the Governing Regulations. The proposed revision relates to the university's intention to make its Medical Center campus, the immediate vicinities, and other related offices tobacco-free in November 2008. In order to accomplish this mission, the proposed revision to the Governing Regulations will expand the president's authority to promulgate an Administrative Regulation that will define and regulate the tobacco-free areas of the university. Mr. Wilcoxson moved approval of PR 8. His motion was seconded by Judge Patton and carried without dissent. (See PR 8 at the end of the Minutes.)
Gifford Blyton Paul Patton
Orlando "Tubby" Smith
Doctor of Letters Doctor of Humanities Doctor of Humanities Doctor of Science
Avul Pakir Jainulabdeen Abdul Kalam


 

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L.      Proposed Revision to Governing Regulation: The Staff Senate (PR 9)
President Todd said that PR 9 is a proposed revision to the Governing Regulation regarding the Staff Senate. The proposed revision gives the authority to the Staff Senate to create procedures that provide an exception to the requirement of one year of continuous employment for senator elections. This arose because of the Good Samaritan hospital purchase and the need to have representation for the population of the staff. The proposed revision also eliminates the Staff Senate Development Task Force, which was an advisory group that was needed for the initial start-up activities. The task force is no longer needed.
Mr. Williams moved approval of PR 9. Dr. Yanarella seconded the motion, and it carried without dissent. (See PR 9 at the end of the Minutes.)
M.     Candidates for Degrees - Bluegrass Community and Technical College (AACR 1)
Ms. Tobin, chair of the Academic Affairs Committee, said that AACR 1 recommends that the president be authorized to confer upon each individual whose name appears on the attached list the degree to which he or she is entitled, upon certification by the KCTCS Board and the University of Kentucky registrar that the individual has satisfactorily completed all the requirements for the degree for which application has been made and as approved by the elected faculty of the University Senate and the Academic Affairs Committee of the Board of Trustees. She noted that there are 78 candidates on the list for degrees and moved approval of AACR 1. Ms. Patterson seconded her motion, and it carried without dissent. (See AACR 1 at the end of the Minutes.)
N.      Approval of Leases (FCR 1)
Mr. Branscum, chair of the Finance Committee, said the committee reviewed six FCRs at the committee meeting that morning. FCR 1 is the renewal of a lease between the University of Kentucky and Kentucky Utilities for space located at One Quality Street, Lexington, Kentucky. This is 49,026 square feet at an annual rate of $308,864. That is $6.30 per square foot. The lease will be effective March 1, 2008 and includes space on the 6th, 7th, and 8th floors of the KU Building, which is being used for classrooms and offices. The original lease was executed on August 1, 2002.
FCR 1 recommends that the Board authorize the executive vice president for finance and administration to negotiate and execute the renewal of this lease. On behalf of the Finance Committee, he recommended approval of FCR 1. Mr. Dawson seconded the motion, and it carried without dissent. (See FCR 1 at the end of the Minutes.)


 

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O.      Renovate/Expand the Center for Applied Energy Research (FCR 2)
Mr. Branscum reported that Dr. James Tracy, vice president for research, presented FCR 2 to the committee. It recommends that the Board approve the initiation of the renovation and expansion of the Center for Applied Energy Research. During the 2007 Special Session of the Kentucky General Assembly, the legislature appropriated $2 million for this project. It will be used to renovate and upgrade the existing facility to create additional space for research and the processing of minerals. This project is expected to cost $2 million. On behalf of the Finance Committee, he recommended approval of FCR 2. Ms. Tobin seconded his motion, and it carried without dissent. (See FCR 2 at the end of the Minutes.)
P.      Acceptance of Interim Financial Report for the University of Kentucky for the Six Months Ended December 31, 2007 (FCR 3)
Mr. Branscum said that FCR 3 is a recommendation that the Board accept the Interim Financial Report for the university for the six months ended December 31, 2007. He reminded the Board that the report was presented at the January committee meeting by Controller Marc Mathews for informational purposes and discussions. It is being presented at this meeting for official approval.
Through December 31, 2007, the university realized 54 percent of the revenue estimate and expended 45 percent of the approved budget. The balance sheet is strong with assets of $3.3 billion and liabilities of $950 million. The fund balances of $2.2 billion represent a 67 percent equity position in the total assets. The revenues and appropriated fund balances have exceeded expenditures to date by $176.2 million, creating a very strong cash position and balance sheet as of December 31, 2007. At the end of the first six months, financial operations are consistent with the budget plan, and the university's financial condition is excellent.
On behalf of the Finance Committee, he recommended acceptance of FCR 3. Dr. Yanarella seconded the motion, and it carried without dissent. (See FCR 3 at the end of the Minutes.)
Q.      Capital Construction Report (FCR 4)
Mr. Branscum said that FCR 4 is the Capital Construction Report for the three months ending December 31, 2007. Mr. Bob Wiseman, vice president for facilities management, presented the lengthy report to the Finance Committee. There were 7 new contracts, 2 contracts completed, 4 contracts amended, and 13 change orders greater than $25,000. He noted that none of the change orders had any extension of time and commended the university's staff for keeping the projects in control financially and on time, which is always important for needs and operation of the university.


 

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Mr. Branscum called attention to 3 of the new contracts: expand Chemistry Physics building, renovate M. I. King Library, and upgrade fume hoods in the T. H. Morgan - Life Safety facility. The two contracts completed were the Memorial Coliseum expansion and the fit-up on the fourth floor of the BBSRB building. A couple of the major amendments included the expansion and upgrade of the Livestock Disease Diagnostic Laboratory and construction of the Law School building. He reviewed two of the change orders involving the Student Health facility and the Hilary J. Boone Center.
On behalf of the Finance Committee, he recommended acceptance of FCR 4. Ms. Haney seconded his motion, and it carried without dissent. (See FCR 4 at the end of the Minutes.)
R.      Patent Assignment Report (FCR 5)
Mr. Branscum said that Dr. Tracy, vice president for research, also presented the Patent Assignment Report to the committee. As of January 31, 2008, the university filed 6 patent applications, 7 patents were issued, and the university received $752,203 of patent income. On behalf of the Finance Committee, he recommended the acceptance of FCR 5. Ms. Wickliffe seconded the motion, and it carried without dissent. (See FCR 5 at the end of the Minutes.)
S.      UK/Vulcan Exchange of Properties (FCR 6)
Mr. Branscum said that FCR 6 is the UK/Vulcan Exchange of Properties that involves a new bike trail. This is a community project with the university, the city, Vulcan, and the Kentucky Transportation Cabinet. FCR 6 is to authorize the president or his designee to execute exchange deeds with Vulcan Lands, Inc. for properties at and adjacent to Maine Chance Farm to create an easement for the Maine Chance Trail.
At the request of Mayor Jim Newbery, the university is working with the Lexington-Fayette Urban County Government to develop a bike trail which will extend through the university's Maine Chance Farm and Spindletop properties. The committee reviewed a map of the proposed land exchange. This is a community project approved for federal funding by the Kentucky Transportation Cabinet. In exchange for ownership of a portion of the surface area of the Vulcan property, the university will transfer ownership of subsurface mineral and mining rights under a portion of the Maine Chance Farm. This exchange will be contingent upon appraised values satisfactory to both UK and Vulcan.
On behalf of the Finance Committee, Mr. Branscum recommended approval of FCR 6. Mr. Phelps seconded the motion. Ms. May asked if anyone was looking at what the environmental impact will be of the mining under that property, and she was informed that the environmental impact will be part of the process. The motion carried without d