Finance Committee Report
                                       December 8, 1970

                                       FC R/
                                                        /C
Members, Board of Trustees:

           ESTABLISHMENT OF AN INVESTMENT COMMITTEE


Recommendation: That an Investment Committee composed of two
members of the Board of Trustees to be appointed by the Chairman
of the University of Kentucky Board of Trustees and the Vice Presi-
dent for Business Affairs and Treasurer be established for the pur-
pose of investing funds of the University of Kentucky.

Background: After discussion of the Investment Policies and Procedures
of the University of Kentucky with the Finance Conmmittee, a conclusion
was reached to establish an investment committee for the purpose of
making investments of funds of the University. This committee will
be responsible for the investment portfolio of the endowment funds and
will have available to it investment counsel who will act in an advisory
capacity.



Action: Approved     X      Disapproved



Othe r



Date:  December 8,



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