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       Governor Breathitt said that this report is a part of the Board's
evaluation process of the University's administration and President
Wethington's stewardship. He thanked President Wethington for giving this
report to the Board.

       Q.    Acceptance of Interim Financial Report for the University of
Kentucky for the Ten Months Ended April 30. 1994 (FOR 1)

       Mr. Hardymon, Chairperson of the Finance Committee, reported that the
Finance Committee met at 3:00 p.m. and considered fourteen items to present
to the Board. He said FCR 1 is the interim financial report. He reviewed
the realized income, expenditures and commitments which were on track. He
recommended approval of FCR 1.   Mr. Chellgren seconded the motion and it
passed. (See FCR 1 at the end of the Minutes.)

       R.    Disposal of Personal Property (FCR 2)

       On motion made by Mr. Hardymon, seconded by Mr. Shoop and passed, the
Board approved the disposition of surplus equipment as described in Exhibit
I. (See FCR 2 at the end of the Minutes.)

       S.    Report of Leases (FCR 3)

       Mr. Hardymon reported that the leases in FCR 3 do not exceed $30,000
in value. He noted that all of the leases were renewals with the exception
of one lease, and he reviewed the terms of the new lease. He recommended
approval of FCR 3. The motion, seconded by Mr. Chellgren, carried. (See
FCR 3 at the end of the Minutes.)

       T.    Approval of Leases (FCR 4)

       Mr. Hardymon reported that the leases in FCR 4 exceed $30,000 in
value and must be approved by the Board. He mentioned that all of the
leases were for renewal with the exception of the last two leases that
involved an addenda to leases. He reviewed the addenda to those leases and
recommended approval. Mr. Welenken seconded the motion and it passed. (See
FCR 4 at the end of the Minutes.)

       U.    Approval of Amendments to University Section 125 Plan (FQR5)

       Mr. Hardymon reviewed the amendments to the University Section 125
Plan and recommended approval of FCR 5.    His motion, seconded by Mr.
Chellgren, passed. (See FCR 5 at the end of the Minutes.)

       V.    Operating Budget for 1994-95 (FOR 6) - Withdrawn

       W.    Eatent Assignment (FCR 7)

       Mr. Hardymon moved that the Board authorize the President to execute
an assignment on behalf of the Board to the University of Kentucky Research
Foundation the following Letters Patent of the United States and the
invention represented thereby: Philip W. Landfield, Serial No. 08/091,976,
filed July 15, 1993. Mr. Sturgill seconded the motion and it carried. (See
FCR 7 at the end of the Minutes.)