xt7jm61bmw2f https://exploreuk.uky.edu/dips/xt7jm61bmw2f/data/mets.xml Lexington, Kentucky University of Kentucky. 2014 minutes  English University of Kentucky Contact the Special Collections Research Center for information regarding rights and use of this collection. Minutes of the University of Kentucky Board of Trustees Minutes of the University of Kentucky Board of Trustees, 2014-06-10 text Minutes of the University of Kentucky Board of Trustees, 2014-06-10 2014 2014 true xt7jm61bmw2f section xt7jm61bmw2f Minutes of the Meeting of the Board of Trustees
University of Kentucky
Tuesday, June 10, 2014
The Board of Trustees of the University of Kentucky met on Tuesday, June 10, 2014 in
the Board Room on the 18th floor of Patterson Office Tower, Lexington, Kentucky.
A.

Meeting Opened

Dr. E. Britt Brockman, chair of the Board of Trustees, called the meeting to order at 1:00
p.m. Chair Brockman asked Trustee Sheila Brothers, secretary of the Board, to call the roll.
B.

Roll Call

The following members of the Board of Trustees answered the call of the roll: William
C. Britton, E. Britt Brockman, Sheila Brothers, Mark P. Bryant, Jo Hern Curris, Angela L.
Edwards, William S. Farish, Jr., Oliver Keith Gannon, Carol Martin (Bill) Gatton, David Hawpe,
Kelly Sullivan Holland, Terry Mobley, Roshan Palli, C. Frank Shoop, James W. Stuckert, John
Wilson and Barbara Young. James Booth and Irina Voro were not in attendance. Secretary
Brothers announced that a quorum was present. C.B. Akins joined the meeting in progress.
The University administration was represented by President Eli Capilouto, Provost
Christine Riordan, Executive Vice President for Health Affairs Michael Karpf, Executive Vice
President for Finance and Administration Eric Monday and General Counsel William Thro.
The University faculty was represented by the Chair of the University Senate Council
Lee Blonder, and the University staff was represented by the Chair of the Staff Senate Jeff
Spradling.
Guests, other administrators and members of the news media were also in attendance.
C.

Consent Items

Chair Brockman called attention to the three consent items on the agenda. The items
were the minutes for the Board of Trustees meeting on May 9, 2014, PR 2, Personnel Actions
and FCR 1, The Forcht Group of Kentucky Pledge. Trustee Stuckert moved approval of the
consent items and Trustee Mobley seconded the motion. Chair Brockman called for the vote and
it passed without dissent. (See consent items listed below on the Board of Trustees website,
www.uky.edu/Trustees, under agenda.)
Minutes, Board of Trustees Meeting, May 9, 2014
PR 2 Personnel Actions
FCR 1 The Forcht Group of Kentucky Pledge

* D.

Chairman’s Report

Chair Brockman reported that there were no new petitions to appear before the Board of
Trustees since the May 9, 2014 meeting. A petition from Dr. Ernie Yanarella, submitted in May
2013, was heard during the Finance Committee meeting.
Chair Brockman recognized University Senate Council chair-elect Dr. Andrew Hippisley,
Faculty Trustee-elect Dr. Robert Grossman and Student Government Association President Jake
Ingram, Board of Trustees Student Trustee-elect.
Chair Brockman announced the purchase of software that will facilitate the move of
Board and its committee meetings to a paperless meeting environment. More information will
be forthcoming over the summer.
Chair Brockman reminded the Trustees of the tour of the new residence hall Champions
Court II at the conclusion of the meeting.
E.

Executive Committee Report

Chair Brockman reported that the President’s Evaluation Questionnaire, approved at the
May 9, 2014 Board of Trustees meeting, was being distributed to constituency groups. The
Executive Committee will meet in late July/early August to review the questionnaire results.
The Committee will report the results to the full Board.
F.

President’s Report

President Capilouto began by thanking the Board of Trustees, faculty, staff and students
for 20 months of questions, concerns and participation regarding the discussions of dining
services on the University of Kentucky campus.
He reiterated that with a new
generation/community of students, our UK community must also adapt. Building on the work of
the current UK Dining Services and its employees, President Capilouto hoped the Board would
endorse the recommendation regarding dining services.
President Capilouto stated that a group of administrators and faculty had been working to
build a cluster of excellence in the disciplines of science, technology, engineering and
mathematics, commonly referred to as STEM. In February 2014, it was announced that UK was
the recipient of a $350,000 Summer Training in Alcohol Research grant. The award, sponsored
by the National Institute of Alcohol Abuse and Alcoholism, will support 10-week, paid, handson research internships for undergraduate students. Partners on this project include faculty from
the Colleges of Pharmacy, Medicine, and Arts and Sciences.
President Capilouto continued that in April, joined by representatives from nine colleges
and universities in the region, it was announced that UK is the lead institution on a $2,500,000
National Science Foundation (NSF) grant to establish the Louis Stokes Alliance for Minority
Participation (LSAMP) in the STEM disciplines. Included in this multi-institution partnership
are faculty and staff from the University of Louisville, West Virginia University, Western
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* Kentucky University, Centre College, Marshall University, Kentucky State University, West
Virginia State University and the Bluegrass Community and Technical College.
Programs will be developed at the member institutions to attract exceptional students to
the STEM fields, increase retention and graduate up to 500 students over the next five years.
Through this work, the alliance has the potential to significantly impact the lives of highachieving, underrepresented undergraduate students in the two Appalachian states.
President Capilouto stated that the third grant is a $1,900,000 award from the Howard
Hughes Medical Institute. It, too, is designed to improve retention and success rates of students
in STEM. UK competed alongside several leading institutions and was one of 37 to receive this
award. Other institutions include Duke, Berkeley, Brown, Michigan and Texas. With this grant,
UK will launch a collection of initiatives to be called “STEMCats.” Included in the program’s
portfolio are intensive preparatory STEM courses, a new living-learning community, an
experiential research core and new introductory, interdisciplinary courses in chemistry and
physics. These contact-intensive initiatives are being developed alongside advances in
instructional technology such as the Chemistry MOOC developed last year. These programs will
be directed by faculty in the College of Arts and Sciences in partnership with faculty at
Bluegrass Community and Technical College.
President Capilouto reported that on a national level fewer than half of all students who
enter college with the intention of majoring in STEM leave with a STEM degree. He is
optimistic these grants will help reverse that trend and provide a framework to support the
success of UK students.
President Capilouto was pleased to introduce Vice President for Institutional Diversity,
Dr. Judy (JJ) Jackson and her colleague, Dr. Johné Parker, Associate Professor of Mechanical
Engineering in the College of Engineering to further detail the scope, scale and potential impact
of LSAMP in STEM. Dr. Jackson and Dr. Parker were enthusiastic about the potential to
increase participation of underrepresented students in STEM across West Virginia and Kentucky.
With the creation of a living learning community, the creation of a culture and the expectation of
excellence, the goal of the alliance is to encourage students to pursue disciplines they may
otherwise not consider.
President Capilouto introduced Dr. Vincent Cassone, chair of the Biology Department.
Dr. Cassone is the Principal Investigator on the Howard Hughes Medical Institute grant to
develop STEMCats and will lead the effort in developing the project. He shared with the
Trustees that STEMCats will include: the expansion of ‘FastTrack’ courses in Biology, Math,
Chemistry and Physics for at-risk students; the development of a living learning community; the
development of a research laboratory that will teach the process of research; the development of
a freshman STEM research course led by a community of scholars; the development of a seminar
course focusing on the multiple career options available in the STEM disciplines; and a
continuing assessment of these techniques to adopt best practices.
President Capilouto was pleased to announce, subject to the approval of the Board of
Trustees, the appointment of Dr. Janie Heath as the new Dean of the College of Nursing. Dr.
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* Heath will begin on August 1, 2014 as Dean and will also hold the Warwick Professorship of
Nursing. Dr. Heath joins UK as the immediate past Associate Dean of Academic Programs at
the University of Virginia’s College of Nursing. She has a distinguished scholarly record at
Virginia and other notable institutions in Georgia, South Carolina and Washington, D.C. Dr.
Heath is a widely recognized national leader in nursing education, tobacco control and health
care outreach and is well suited to lead UK’s College of Nursing as it continues to address many
of Kentucky’s most pressing health challenges.
Dr. Heath thanked President Capilouto for the opportunity to address the Board of
Trustees. She stated that her 37 year career as an acute and critical care nurse had prepared her
for the opportunity at UK. As she considered the next move in her career, she was interested
only in an institution that maintained a research-intensive environment, a thriving academic
medical center, a stellar flagship school of nursing and a meaningful community connection.
UK met those criterion. The state of Kentucky also provides a unique opportunity for her
research which targets improving health and wellness through tobacco control. She looked
forward to leading transformation in nursing education, fostering healthy learning and working
environments, and creating new models of health care delivery with the outstanding faculty,
staff, students and community partners of the University of Kentucky enterprise.
President Capilouto thanked Dr. Patricia Howard for her dedicated and stellar service as
Interim Dean of the College of Nursing since 2012.
President Capilouto introduced Dr. Jay Ambati, Vice Chair of Ophthalmology and Visual
Sciences, a Professor of those disciplines and of Physiology, and the Dr. E. Vernon & Eloise C.
Smith Endowed Chair in Macular Degeneration in the University of Kentucky College of
Medicine. Dr. Ambati is an Electrical Engineering graduate from Johns Hopkins University,
received his MD from the State University of New York Health Science Center in Brooklyn, and
completed his clinical and research retina fellowships at Harvard Medical School. His laboratory
has published several research papers in ocular vascular biology in the top academic and medical
journals, and he pioneered new age-related macular degeneration diagnosis and treatment
strategies that have affected tens of millions worldwide.
President Capilouto continued that in the words of one of his colleagues, Dr. Ambati “is
clearly a uniquely gifted academician. Not only does he harbor a vast body of fundamental
interdisciplinary knowledge, he also has an unparalleled keen insight with his method of inquiry
that he applies to all of his endeavors whether in the classroom, clinic, or laboratory.” His
colleagues also say he is a “genuinely good and honest man who speaks from his heart with a
transparent and truthful mind.”
President Capilouto remarked Dr. Ambati is one of UK’s exceptional faculty researchers,
a celebrated scientist, surgeon and faculty member. His extraordinary success has garnered him
several awards. Most recently, he was the University of Kentucky’s nominee for the 2014
Southeastern Conference Faculty Achievement Award.
Dr. Ambati took the podium and expressed his gratitude toward President Capilouto and
Provost Riordan, their predecessors, Dr. Michael Karpf and most importantly, his families, both
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* personal and professional. He shared some of his research on macular degeneration and how in
the last few years his group has made some foundational discoveries in the dry form of macular
degeneration. He was pleased to announce that by the fourth quarter of this year, a clinical trial
for a new medication will begin. His team believes this medication can actually forestall the
progression of the dry form of macular degeneration and hopefully will offer something of a
transformative therapeutic option for people with this condition.
President Capilouto recognized and congratulated Athletics Director Mitch Barnhart, UK
Athletics head coaches and their staff and UK’s student-athletes for posting a record 3.218 GPA
for 2014 Spring Semester. Eighteen of 20 teams earned above a 3.0 GPA and 13 teams attained a
3.0 while also competing in the championship portions of their schedule. In total, 325 students,
both scholarship and non-scholarship, earned GPAs of 3.0 or better, accounting for more than 60
percent of UK’s student-athlete population of 508. Seventy-one of those student-athletes had
perfect 4.0 GPAs in the spring semester. UK Athletics has now posted GPAs of at least 3.0 in the
last four consecutive semesters.
G.

Appointment of Dean of the College of Nursing (PR 3)

President Capilouto stated that PR 3 was the recommendation that Dr. Janie Heath be
appointed Dean of the College of Nursing, effective August 1, 2014.
Trustee Mobley moved approval of PR 3. Trustee Britton seconded the motion and it
passed without dissent. (See PR 3 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
H.
Appointment of the Executive Director of the University of Kentucky Research
Foundation (PR 4)
President Capilouto stated that PR 4 was the recommendation that approval be given to
the appointment of Dr. Lisa Cassis, Interim Vice President for Research, as the Executive
Director of the University of Kentucky Research Foundation (UKRF), effective June 2, 2014.
Trustee Stuckert moved approval of PR 4. Trustee Hawpe seconded the motion and it
passed without dissent. (See PR 4 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
I.
Appointment to Board of Directors University of Kentucky Gluck Equine
Research Foundation, Inc. (PR 5)
President Capilouto stated that PR 5 was the recommendation that the Board of Trustees
approve the appointment of Bennie Bell Williams and Michael Banahan and the reappointment
of Case Clay and Lisa Lourie to the Board of Directors of the University of Kentucky Gluck
Equine Research Foundation for a four-year term ending June 30, 2018.
Trustee Curris moved approval of PR 5. Trustee Young seconded the motion and it
passed without dissent. (See PR 5 on the Board of Trustees website, www.uky.edu/Trustees,
-5-

* under agenda.)
J.

Naming of University Facility: Soccer Complex (PR 6)

President Capilouto stated that PR 6, which was also reviewed and recommended by the
University Athletics Committee, was the recommendation that the Board of Trustees approve the
official naming of the new soccer complex at the University of Kentucky located on Alumni
Drive as the Wendell and Vickie Bell Soccer Complex.
Trustee Gannon moved approval of PR 6. Trustee Bryant seconded the motion and it
passed without dissent. (See PR 6 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
K.

Candidates for Degrees: May 2014 (ASACR 1)

Trustee Gannon, chair of the Academic and Student Affairs Committee, stated that
ASACR 1 was the recommendation that the President be authorized to confer upon each
individual whose name appears on the attached list the degree to which he or she is entitled upon
certification by the University Registrar that the individual has satisfactorily completed all
requirements for the degree for which application has been made and as approved by the elected
faculty of the University Senate and the Academic and Student Affairs Committee of the Board
of Trustees. Due to administrative error, the names were not previously submitted.
On behalf of the Academic and Student Affairs Committee, Trustee Gannon asked for
approval of ASACR 1 and it passed without dissent. (See ASACR 1 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
L.

Candidates for Degrees: August 2014 (ASACR 2)

Trustee Gannon stated that ASACR 2 was the recommendation that the President be
authorized to confer upon the individual whose name appears on the attached list the degree to
which she is entitled upon certification by the University Registrar that she has satisfactorily
completed all requirements for the degree for which application has been made and as approved
by the elected faculty of the University Senate and the Academic and Student Affairs Committee
of the Board of Trustees.
On behalf of the Academic and Student Affairs Committee, Trustee Gannon moved
approval of ASACR 2 and it passed without dissent. (See ASACR 2 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)

M.

Academic Degree Recommendation: College of Arts and Sciences (ASACR 3)

Trustee Gannon stated that ASACR 3 was the recommendation that the Board of Trustees
approve the establishment of a Bachelor of Arts with a major in Health, Society and Population
degree within the College of Arts and Sciences effective in the Fall 2014 Semester.

 

-6-

* The proposed degree will draw on the expertise of numerous faculty members,
complement current programs and foster collaboration through shared course work with other
disciplines. This program has the approval of the appropriate councils, the University Senate and
has completed the 45-day review process of the Council on Postsecondary Education. The
Provost supports this recommendation.
On behalf of the Academic and Student Affairs Committee, Trustee Gannon moved
approval of ASACR 3 and it passed without dissent. (See ASACR 3 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
N.
(ASACR 4)
 

Academic Degree Recommendation: College of Communication and Information

Trustee Gannon stated that ASACR 4 was the recommendation that the Board of Trustees
approve the establishment of a Master of Science with a major in Information Communication
Technology degree in the School of Library and Information Sciences, within the College of
Communication and Information, effective in the Fall 2014 Semester.
The program will build on the skills and content covered in the undergraduate program
and will prepare students for a successful career in the global economy. This program has the
approval of the appropriate councils, the University Senate and has completed the 45-day review
process of the Council on Postsecondary Education. The Provost supports this recommendation.
On behalf of the Academic and Student Affairs Committee, Trustee Gannon moved
approval of ASACR 4 and it passed without dissent. (See ASACR 4 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
O.

Academic Degree Recommendation: College of Public Health (ASACR 5)

Trustee Gannon stated that ASACR 5 was the recommendation that the Board of Trustees
approve the establishment of a Bachelor of Public Health degree within the College of Public
Health, effective in the Fall 2014 Semester.
The need for this program is a high priority both nationally and in Kentucky. This
program has the approval of the appropriate councils, the University Senate and has completed
the 45-day review process of the Council on Postsecondary Education. The Provost supports this
recommendation.
On behalf of the Academic and Student Affairs Committee, Trustee Gannon moved
approval of ASACR 5 and it passed without dissent. (See ASACR 5 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
P.

Academic Degree Transfer Recommendation: College of Engineering (ASACR 6)

Trustee Gannon stated that ASACR 6 was the recommendation that the Board of Trustees
approve the transfer of the Master of Science in Manufacturing Systems Engineering from the
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* College of Engineering to the Department of Mechanical Engineering, within the College of
Engineering, effective in the Fall 2014 Semester.
The University of Kentucky has been a leading university in manufacturing for more
than 25 years. The growth and development of this program, through moving to the Department
of Mechanical Engineering, will help maintain that reputation, especially in the areas of
advanced manufacturing including lean manufacturing and sustainable manufacturing.
The transfer has been reviewed and recommended by the Senate Committee on Academic
Organization and Structure and the Senate Council; and endorsed by the University Senate. The
Provost supports this recommendation.
On behalf of the Academic and Student Affairs Committee, Trustee Gannon moved
approval of ASACR 6 and it passed without dissent. (See ASACR 6 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
Q.

Change in Name of an Educational Unit: College of Fine Arts (ASACR 7)

Trustee Gannon stated that ASACR 7 was the recommendation that the Board of Trustees
approve the change in the name of the Department of Theatre to the Department of Theatre and
Dance, in the College of Fine Arts, effective July 1, 2014.
In November 2009 the Department of Kinesiology and Health Promotion in the College
of Education voted to suspend its Dance minor. At that time, the Department of Theatre began
the process to introduce Dance into its curriculum. The Dance minor, which was approved by the
University Senate in November 2011, has become tremendously popular with UK students,
representing majors from eight colleges across campus. The Dance program has quickly become
a high point for recruitment, research/performance, outreach and pedagogy in the unit. Changing
the name of the unit to the Department of Theatre and Dance will better communicate the scope
of the program, and benefit the recruitment efforts both on and off campus.
The proposed change has been approved by the faculty of the Department of Theatre;
reviewed and recommended by the Senate Academic Organization and Structure Committee and
the Senate Council; and endorsed by the University Senate. The Provost supports this
recommendation.
On behalf of the Academic and Student Affairs Committee, Trustee Gannon moved
approval of ASACR 7 and it passed without dissent. (See ASACR 7 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
R.

University Athletics Committee

Trustee C.B. Akins, Sr., chair of the University Athletics Committee, reported that the
committee had met that morning.
Athletics Director Mitch Barnhart gave a Department of Intercollegiate Athletics report.
-8-

* Highlights in sports since April 1, 2014 include that UK Athletics is in the final week of one of
the best overall seasons in department history. UK is No. 16 in the latest official Directors’ Cup
standings and soon to move up due to strong performances by spring sports teams. With 18 of 22
sports contributing to the tally, UK Athletics is poised to break the record set with last year’s No.
25 finish.
In winter sports, men’s basketball ended its NCAA Tournament run in the national
championship game, falling to the University of Connecticut 60-54. The team was welcomed
home by thousands of well-wishers. Within weeks of the end of the season, six players elected
to bypass the NBA Draft and return for next season. Finally, Coach Calipari has signed a new
contract that will keep him at Kentucky through the 2020-21 season.
In spring sports, softball completed the best season in school history, advancing to the
Women’s College World Series for the first time. Sophomore pitcher Kelsey Nunley threw every
pitch in the NCAA Tournament for UK, receiving WCWS All-Tournament Team honors.
Baseball returned to the NCAA Tournament and ended the season with a 37-25 record. Senior
A.J. Reed, already named national player of the year by Collegiate Baseball, led the way. UK’s
outdoor track and field teams will compete at NCAA Championships in Eugene, Oregon. UK
will be represented by 15 athletes, 11 women and four men. Men’s tennis advanced to the Sweet
16 for the fifth straight season. Women’s tennis made its first NCAA Tournament appearance
since 2009 and advanced to the second round before falling at No. 3 Virginia. Men’s golf
returned to the NCAA Championship finishing in a tie for No. 18. Women’s golf reached an
NCAA Regional for the fourth straight season.
Trustee Akins stated that as President Capilouto shared with the Board earlier, UK’s
scholarship student-athletes combined for a cumulative GPA of 3.218. This marks four straight
semesters in which UK has posted a department-wide GPA of 3.0 or better. All UK teams
received passing marks in the NCAA’s Academic Progress Rate (APR), with a school-record
three teams (women’s cross country, men’s golf and men’s tennis) earning national awards.
Star women’s soccer senior Arin Gilliland will receive the prestigious 2014 Honda
Inspiration Award from the Collegiate Women Sports Awards in Los Angeles later this month.
She is being honored for overcoming reconstructive knee surgery and the passing of her mother
to become one of the best players in the country.
UK’s volleyball team recently returned from a two-week cultural exchange trip in China.
The Wildcats played seven matches against elite teams, visited numerous historical sites and
landmarks and took a class that began a week before their departure and continued while in
China. Art History professor Andrew Maske traveled with the team.
Women’s basketball head coach Matthew Mitchell will donate $1,000,000 to the
Department of Intercollegiate Athletics over the next 10 years. It is the largest gift to the
department ever by an employee and will help fund continued capital growth.
In business items, Trustee Akins reported that the Committee was pleased to review and
to recommend for the Board’s approval, PR 6, the naming of the Soccer Complex as the Wendell
and Vickie Bell Soccer Complex.
-9-

* The Committee considered the financial statements of the Department of Intercollegiate
Athletics. Melissa Gleason, Senior Associate Athletics Director - Finance, reviewed the interim
financial statements of the department for the nine months ended March 31, 2014. The
information included the statement of net position, the statement on revenue and expenses, and
the change in net position. The Committee accepted the quarterly financial statements as
presented.
Ms. Gleason also presented a detailed Fiscal Year 2014-15 Operating Budget for the
Department of Intercollegiate Athletics. This budget is included in the University wide budget
presented in FCR 4. The Committee accepted the FY 14-15 Operating Budget for Intercollegiate
Athletics as presented.
Dall Clark, Capital Project Management, reviewed FCR 9 regarding the request for an
exemption for LEED Silver Level Certification for the Commonwealth Stadium capital project.
The Committee recommended approval to the Finance Committee.
In conclusion, Trustee Akins reported that Director Barnhart updated the Committee on
FCR 10, the Renovate Old Softball/Soccer Locker Room Capital Project. The project will
renovate the existing soccer/softball locker and shower space in the old soccer/softball building
to create new office and administrative space for the coaches and coaching staff of the men’s and
women’s soccer and women’s softball teams. This project will be funded with private funds.
The Committee recommended approval to the Finance Committee.
S.

Finance Committee Report

Trustee James Stuckert, chair of the Finance Committee, reviewed the one consent item
FCR 1, the Forcht Group of Kentucky Pledge. (See FCR 1 on the Board of Trustees website,
www.uky.edu/Trustees, under agenda.)
T.
Acceptance of Interim Financial Report for the Nine Months Ended March 31,
2014 (FCR 2)
Trustee Stuckert stated that FCR 2 was the recommendation that the Board of Trustees
accept the University of Kentucky consolidated financial report for the nine months ended March
31, 2014.
On behalf of the Finance Committee, Trustee Stuckert moved approval of FCR 2 and it
passed without dissent. (See FCR 2 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
U.
A Resolution Providing for the Authorization, Issuance and Sale of General
Receipts Refunding Bonds of the University of Kentucky, Pursuant to the Trust Agreement
Dated as of November 1, 2005. (FCR 3)
Trustee Stuckert stated that FCR 3 was the recommendation that the Board of Trustees
- 10 -

* approve a Resolution authorizing the issuance of University of Kentucky General Receipts
Obligations, to be designated University of Kentucky General Receipts Refunding Bonds (the
"Refunding Obligations".)
Trustee Stuckert explained that by refunding $95,000,000 of bonds that were issued
approximately ten years ago, the University of Kentucky is estimated to save about $1,700,000
of debt service in Fiscal Year 2014-15 and more than $15,000,000 through Fiscal Year 2025-26.
On behalf of the Finance Committee, Trustee Stuckert moved approval of FCR 3 and it
passed without dissent. (See FCR 3 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
V.

Fiscal Year 2014-15 Operating and Capital Budget (FCR 4)

Trustee Stuckert stated that FCR 4 involved recommendations that the Board of Trustees:
1. Approve the Fiscal Year 2014-15 Operating and Capital Budget.
2. Approve the appropriation and allocation of all fund balances for future operations, to
include amounts necessary to cover accounts receivable and inventories that will
represent assets on the audited balance sheet of the University of Kentucky as of June 30,
2014. These audited balances may be different than the estimates incorporated in the
proposed budget. Since the books of account for the University of Kentucky are
maintained on a full accrual basis, this action will provide the authorization to expend
accumulated fund balances as necessary to maintain a sound financial position during
Fiscal Year 2014-15.
3. Order that the Operating and Capital Budget be recorded as an integral part of the
University’s financial system with the necessary fiscal control being exercised for the
collection and appropriation of income and for the expenditure of departmental
appropriations in accordance with authorized fiscal policies and procedures.
4. Accept the Operating and Capital Budget as the basis of maximum expenditure for Fiscal
Year 2014-15, subject to item number two above and other Board approved revisions.
Trustee Brothers thanked the hundreds of staff across a number of departments on
campus for their efforts in the preparation of the budget. On behalf of the staff, she also thanked
President Capilouto for the second consecutive year of salary increases and its priority in the
Fiscal Year 2014-15 budget.
On behalf of the Finance Committee, Trustee Stuckert moved approval of FCR 4 and it
passed without dissent. (See FCR 4 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)

- 11 -

* W.

Disposal of Personal Property (FCR 5)

Trustee Stuckert stated that FCR 5 was the recommendation that the Board approve a
plan for the disposal of personal property and the methods of disposal. This annual approval
includes the disposition of equipment and machinery, vehicles, library books and materials,
livestock, and recyclable materials having a value of less than $25,000.
On behalf of the Finance Committee, Trustee Stuckert moved approval of FCR 5 and it
passed without dissent. (See FCR 5 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
X.
Resolution for the Designation of an Agent for the Application of Federal
Emergency Management Assistance (FCR 6)
Trustee Stuckert stated that FCR 6 was the recommendation that the Board of Trustees
approve a Resolution designating the Executive Vice President for Finance and Administration
to be authorized Applicant Agent Representative of the University in all public assistance and
hazard mitigation matters for the purpose of obtaining federal financial assistance from the
Federal Emergency Management Agency (FEMA) and FEMA programs under the Robert T.
Stafford Disaster Relief and Emergency Assistance Act.
On behalf of the Finance Committee, Trustee Stuckert moved approval of FCR 6 and it
passed without dissent. (See FCR 6 on the Board of T