MINUTES OF THE FINANCE COMMITTEE University of Kentucky Board of Trustees June 17, 2008 10:00 AM
Committee Members Present
Stephen Branscum, Chair; Dermontti Dawson, Frank Shoop, JoEtta Wickliffe Approval of Minutes
The minutes of the April 22, 2008, Finance Committee meeting were approved as presented. FCR 1-4 (Consent)
FCR 1-4 were consent items. Stephen Branscum, chairperson, reported that the gifts and pledges totaled $2.5 million. He noted that FCR 3 gave the University a $1 million gift and pledge from the Makenna Foundation. In recognition of the Foundation's many contributions to the University, the Committee on Naming of University Buildings recommends that the pediatric center be named the Makenna David Pediatric Emergency Center. Mr. Branscum also recognized the $1 million gift and pledge from Dr. M. S. and Sowmya Viji for their gift and pledge to fund a professorship in India studies in the Gatton College of Business and Economics.
FCR 5, College Department of Behavioral Science Internal Transfer for Vaughan Professorship in Behavioral Science Quasi-Endowment
Mr. Branscum asked the committee to approve an internal transfer of $100,000 from the College of Medicine's Department of Behavioral Science to create and endow the Vaughan Professorship in Behavioral Science Quasi-Endowment in the Department of Behavioral Science in the College of Medicine. These funds combined with previous pledges will provide full funding for the endowed professorship. JoEtta Wickliffe approved the request. Dermontti Dawson seconded, and the motion for approval unanimously carried.
FCR 6, Establishment of Quasi-Endowment for the Endowed Opera Studies Chair Support Fund Provost Kumble Subbaswamy requested establishment of a quasi-endowment for the Endowed Opera Studies Chair Support Fund. The University has received a commitment of $10,000 from the UK Athletics Association in honor of Everett McCorvey, Director of Opera in the College of Fine Arts. The quasi-endowment will provide support for education and research related to Opera Studies. Frank Shoop approved the request. Dermontti Dawson seconded, and the motion for approval unanimously carried.
FCR 7, Name Change Request for the University Professorship in Dentistry Agenda Item Pulled
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