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     M. Acceptance of Audit Reports for 1977-78 (FCR 1)

     Mr. Clay, Chairman, indicated that the Finance Committee had
met and reviewed the audit reports submitted by Coopers and Lybrand.
He then moved that the Board of Trustees accept the University of
Kentucky Purchasing Compliance Letter, the University of Kentucky
Cash Reconciliation and the summarvaudit report of the financial
records of the University of Kentucky for the fiscal year 1977-78
consisting of the Accountants Report from Coopers and Lybrand,
Balance Sheet, Statement of Current Funds Revenues, Expenditures
and Transfers, Statement of Changes in Fund Balances, Summary
of Significant Accounting Policies, and Notes to the Financial
Statements. His motion was seconded by Mr. Griffin and passed
without dissent. (See FCR 1 at the end of the Minutes.)

     N. Authorization to Install a Microwave Dish on Top of
         Kirwan Tower (FCR 3)

     Mr. Clay noted that the Finance Committee had decided to
withdraw FCR 2 from the agenda.

     After considering the request from the State Department of
Mines and Minerals to install a microwave dish on top of Kirwan
Tower, the Finance Committee had given its approval. Mr. Clay
moved that authorization be given to the State Department of
Mines and Minerals to install a microwave dish on top of Kirwan
Tower. His motion was seconded by Mr. Gorman and passed without
dissent. (See FCR 3 at the end of the Minutes.)

     0. Report on Investments (ICR 1)

     Mr. Griffin, Chairman of the Investment Committee, moved that
the report of changes made in investments for the University of
Kentucky and its Affiliated Corporations for the quarter ended
June 30, 1978, be accepted. His motion was seconded by Mr. Clay
and, without dissent, it was so ordered. (See ICR 1 at the end
of the Minutes.)

     P. Recommended Modifications to the Code of Student Conduct
         (SCRCR 1)

     Mr. Griffin, Chairman of the Board's Student Code Committee,
reported that the committee had received and considered the
recommended modifications forwarded to the committee by President
Singletary and determined them to be desirable. He then moved that
the Board of Trustees approve (1) the recommended addition to the
Foreword of the publication entitled Student Rights and Responsibilities
(2) the recommended modifications of the Introduction, Article I,
and Article II of the Code of Student Conduct so as to make the Code
applicable to the Fort Knox Center, and (3) the application of the
balance of the Code (i.e. Articles III through VII) to the Fort
Knox Center without further revision. His motion was seconded and
passed without dissent. (See SCRCR 1 at the end of the Minutes.)