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[5]

Part of Minutes of the University of Kentucky Board of Trustees

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- 5 - Q. Agreement Between University of Kentucky and Kentucky Medical Services Foundation (PR 6C) Chancellor Bosomworth explained that the terms in the document are essentially the same as those in the agreement approved by the Board on June 24, 1985. He added that the document has been updated to reflect dates in the new contract period and to revise the dollar amounts due the University under Section 5.C and Section 18.A. He explained that Section 18 on Professional Liability Insurance has been revised to reflect the percentage KMSF will pay for liability insurance, and that the amount for expenses attendant to the production of clinical income has been increased from $2,204,241 to $2,237,352. Mr. Larry Jones moved approval of the agreement between the Board of Trustees of the University of Kentucky and Kentucky Medical Services Foundation, Incorporated as presented in PR 6C. Mr. Jones' motion was seconded by Mr. Hershey and carried without dissent. (See PR 6C at the end of the Minutes.) R. Operating Budget for 1986-87 (PR 3C) President Singletary reviewed the processes involved in preparing the Operating Budget and indicated the $488.4 million budget was in many ways the finest budget during his tenure at the University. Using a series of charts, Mr. Edward Carter provided a general overview of the proposed budget which includes: An average increase of 7 percent for faculty salaries and 6 percent for staff salaries. An allocation of $1,017,000 to enhance five UK Centers of Excellence identified in the Five Year Plan and Biennial Request: Center on Aging, $300,000; Center for Pharmaceutical Science and Technology, $283,00; Center for Cancer Prevention, Education, Research and Patient Care, $284,000; Center for Equine Health Care, $100,000; and the Graduate Center for Biomedical Engineering, $50,000. In addition Mr. Carter indicated that Governor Collins and the General Assembly had provided $300,000 to develop the Center of Public Administration into a Center of Excellence by expanding flexible graduate programs in public administration and maintaining quality. $780,000 to improve graduate student support. Special funding for equipment: $20,370,000 for academic equipment and $10,000,000 for a supercomputer. $170.9 million capital budget includes funding for new buildings at five community colleges and new campus facilities in Owensboro; three new buildings on the Lexington Campus--an agricultural engineering building, a regulatory services building, and a building and equipment for the University's new robotics center; $55.6 million for equipment including the $20.3 million for academic equipment; $4.8 million for renovation; $1.2 million for deferred maintenance; $5.7 million for life safety projects; and $50 million to renovate University Hospital.