xt7ngf0mv78x https://nyx.uky.edu/dips/xt7ngf0mv78x/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, 2014-12-09 text Minutes of the University of Kentucky Board of Trustees, 2014-12-09 2014 2015 true xt7ngf0mv78x section xt7ngf0mv78x Minutes of the Meeting of the Board of Trustees
University of Kentucky
Friday, December 9, 2014
The Board of Trustees of the University of Kentucky met at 1:00 p.m. on Friday,
December 9, 2014 in the Board Room on the 18th floor of Patterson Office Tower.
A.

Meeting Opened

Dr. O. Keith Gannon, chair of the Board of Trustees, called the meeting to order at 1:03
p.m. Chair Gannon 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: C.B.
Akins, Sr., James H. Booth, William C. Britton, E. Britt Brockman, Sheila Brothers, Mark P.
Bryant, Angela L. Edwards, William S. Farish, Jr., Oliver Keith Gannon, Carol Martin (Bill)
Gatton, Cammie Grant, Robert Grossman, David V. Hawpe, Kelly Sullivan Holland, Jake
Ingram, Terry Mobley, James W. Stuckert, John Wilson, Robert Vance and Barbara Young.
Secretary Brothers announced that a quorum was present.
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 Chair of the University Senate Council
Andrew Hippisley, and the University staff was represented by Chair of the Staff Senate Michael
Adams.
Guests and members of the news media were also in attendance.
C.

Consent Items

Chair Gannon called attention to the six consent items on the agenda. The items were the
minutes for the Board of Trustees Retreat on October 17-18, 2014 and the Board of Trustees
meeting on October 18, 2014; PR 2, Personnel Actions; FCR 1, Carl F. Pollard and C. F. Pollard
Foundation, Inc. Gift and Charitable Grant; FCR 2, The Bill Gatton Foundation Pledge; and
FCR 3, William E. Seale Family Foundation Pledge.
Trustee Stuckert moved approval of the consent items. Trustee Mobley seconded the
motion. Chair Gannon called for the vote and it passed with 19 affirmative votes and one
abstention from Trustee Bill Gatton. (See consent items listed below on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
Minutes, Board of Trustees Retreat, October 17-18, 2014
Minutes, Board of Trustees Meeting, October 18, 2014

* PR 2 Personnel Actions
FCR 1 Carl F. Pollard and C.F. Pollard Foundation, Inc. Gift and Charitable Grant
FCR 2 The Bill Gatton Foundation Pledge
FCR 3 William E. Seale Family Foundation Pledge
D.

Chair’s Report

Chair Gannon reported that there had been no petitions to address the Board since the last
Board of Trustees meeting.
E.

Alternative Meeting Site (CR 1)

Chair Gannon stated that CR 1 was the recommendation that the Board approve Hazard,
KY as an alternate meeting site for the February 18-19, 2015 Board of Trustees meeting and
associated committee meetings.
Chair Gannon continued that during its October 2014 Retreat, the Board of Trustees
discussed the possibility of alternate sites for future Board of Trustee meetings. Members of the
Board are interested in seeing the connections and programs the University has across the state.
KRS 164.170 states that all meetings shall be held on the campus of the University unless
otherwise specified by a majority vote of the Board of Trustees.
Trustee Gatton moved approval of CR 1 and it was seconded by Trustee Bryant. Trustee
Stuckert asked for confirmation of the dates listed. Trustee Grossman moved that CR 1 be
amended with the correct dates of February 19 & 20, 2015. Trustee Stuckert seconded the
motion to amend and it passed without dissent.
Chair Gannon asked for the vote for the amended CR 1 and it passed without dissent.
F.

Executive Committee Report

Chair Gannon stated that the Executive Committee heard a report from Trustee
Brockman, Chair of the Presidential Compensation Review Committee. The Committee was
appointed at the October 18, 2014 meeting with a request to benchmark University of Kentucky
presidential compensation against that of chief executives at institutions of similar size, scope
and complexity. The Committee was asked to report their findings along with a list of "points to
consider" at the December Board meeting.
Chair Gannon continued that the Board historically has requested formal assessments of
chief executive compensation every four to six years. The last formal presidential compensation
review was conducted in 2009. These regular assessments are designed to guarantee that the
Board is fulfilling its foremost responsibility of ensuring that the University of Kentucky remains
competitive in its ability to retain and attract a chief executive that has the talent, vision and skill
to lead UK to its highest potential. The timing was also critical as the Executive Committee is
about to begin the comprehensive presidential evaluation process.

-2-

* With assistance from the President’s Office, the Office of Legal Counsel and Human
Resources, compensation data of institutions in five distinct peer groups were collected and
reviewed. These peer groups were: UK benchmark institutions; Southeastern Conference
universities; peer eight institutions (institutions containing a full range of academic, health and
professional programs on one campus); 40 state flagship universities; and Kentucky’s state
institutions. The committee met in early November to assess and review the data. On behalf of
the committee, Trustee Brockman reported three observations.
First, a large percentage of the data sets were incomplete. The committee
concluded that under-reporting made direct comparisons impossible and will lead to artificial
inflation of UK's relative position. Second, the unavailability of complete data sets makes
accurate conclusions and quantitative comparisons difficult to achieve. Third, a professional
consultant with expertise in this area would be very valuable toward achieving quantitative
comparisons and assessing competitive market factors.
Chair Gannon thanked the Committee, the President's Office, the Office of Legal Counsel
and the Human Resources Department. He stated that the information and guidance lays an
excellent foundation for the work that the Executive Committee will undertake later this year.
G.

President’s Report (PR 1)

President Capilouto began by mentioning that since the October retreat, progress has
been made on the strategic priorities set by the Board of Trustees and earnest conversations have
been held across campus about how UK can expand and enhance its research enterprise.
President Capilouto shared that at the Fifth Annual Kentucky Entrepreneurs Hall of Fame
induction ceremony in November in Louisville, three individuals who were inducted into the
Hall of Fame have strong UK ties. They were Trustee Jim Booth, CEO of Booth Energy Group;
Chris Sullivan, UK alumnus and member of the Gatton College Alumni Hall of Fame, cofounder and former CEO of the Outback Steakhouse restaurant company; and John Williams,
Sr., also a UK alumnus and member of the Gatton College Alumni Hall of Fame. Mr. Williams
is the founder and chairman of Computer Services, Inc., which provides customers with
integrated and streamlined technology solutions. A fourth individual, Nate Morris, co-founder of
Morris Industries in Lexington, was honored as an emerging entrepreneur. Mr. Morris is also the
co-founder of Rubicon Global, North America’s leading provider of sustainable waste and
recycling services. He was recently named to Fortune Magazine’s 40 under 40, and is a member
of the Dean’s Advisory Council at the Gatton College.
President Capilouto recognized and thanked Bill Schweri, former UK Federal Relations
Director, for his over 42 years of outstanding and loyal service. As the office serves as a liaison
between the University’s administration, colleges and faculty and the executive and legislative
branches of the federal government, President Capilouto praised Mr. Schweri’s mastery at
building and maintaining relationships with politicians, academics, students and business leaders.
Mr. Schweri received a round of applause.

-3-

* President Capilouto introduced and welcomed Eric King, UK’s new Federal Relations
Director. Mr. King most recently served as Director of Government and Community Affairs at
the Kentucky Association of Electric Cooperatives and Utility Supply. He also served as
Legislative Assistant on then Senate Minority and Republican Leader Mitch McConnell’s senior
staff.
President Capilouto recognized and thanked Ben Crutcher, past Associate Vice President
of Auxiliary Services for his over 38 years of outstanding and loyal service. For many years he
led CBMI, the College Business Management Institute, one of the longest-running leadership
programs for university/college business unit staff around the country. He was also instrumental
during campus move-ins, interacting with staff volunteers, parents and new students. Mr.
Crutcher received a round of applause.
President Capilouto introduced Sarah Nikirk. Among many other duties, Ms. Nikirk also
plays an integral role orchestrating move-in and welcoming students, and will serve as Interim
Associate Vice President of Auxiliary Services.
President Capilouto recognized and congratulated Provost Christine Riordan as she has
accepted the offer to become President of Adelphi University. Adelphi University is one of New
York state's oldest private, co-educational institutions. As a nationally ranked, doctoral research
institution with 8,000 students, Adelphi has an ambitious vision to be the region's leading private
university.
President Capilouto thanked Provost Riordan for her leadership over the past 18 months,
playing a pivotal role in doubling the number of students participating in the Live and Learn
Programs, recruiting some outstanding new deans and her work with Associate Provost for
Enrollment Management Don Witt and UK’s enrollment management team in recruiting the
largest, most academically accomplished and diverse first-year class in UK’s history.
President Capilouto congratulated and introduced Army ROTC cadet Dahlia d’Arge from
Paris, Kentucky on her selection as a 2015 Marshall Scholar. The prestigious financial award
provides for two years of graduate study in the United Kingdom.
Ms. d’Arge thanked the Board of Trustees and President Capilouto for the University’s
support. She thanked the Army ROTC program, Department of History and Dr. Pat Whitlow
(Office of External Scholarships) for their assistance and encouragement.
President Capilouto congratulated and introduced Grace Trimble on becoming one of two
finalists as a Rhodes Scholar. Ms. Trimble, a recently awarded Truman Scholar, majoring in
political science and a member of the tennis team, thanked the Board of Trustees, President
Capilouto, and the Office of External Scholarships for their support.
President Capilouto congratulated Luke Glaser, the second Rhodes Scholar finalist. Mr.
Glaser, a teacher in Hazard, Kentucky with the Teach for America program, was unable to attend
the meeting. President Capilouto read a few excerpts from a letter Mr. Glaser wrote to the
Board. In particular Mr. Glaser wrote:
-4-

* “When the other Rhodes competitors learned that UK had not one, but two Rhodes
finalists, it raised some eyebrows. They were discovering what we have known for a long time—
this university is a place of brilliance, a place of omnipresent potential; and it is a destination for
those who wish to make their mark on the world.”
H.

Academic and Student Affairs Report

Trustee Angela Edwards, chair of the Academic and Student Affairs Committee, stated
that the committee met that morning.
Trustee Edwards reported that President Jake Ingram provided reports to the Committee
on two programs, Cats Cab and the Live Safe Program. Vice President for Student Affairs
Robert Mock provided an update on the Health and Safety Task Force and the Implementation
Committee, including the recent focus on Title IX issues, most notably sexual harassment and
sexual assault.
I.

Candidates for Degrees: December 2014 (ASACR 1)

Trustee Edwards stated that ASACR 1 was the recommendation that the President be
authorized to confer upon each individual, the degree to which he or she is entitled; upon
certification by the University Registrar that the individual(s) have 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 Edwards 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.)
J.

Candidate for Degree: May 2014 (ASACR 2)

Trustee Edwards stated that ASACR 2 was the recommendation that the President be
authorized to rescind the double major degree and confer dual degrees upon the identified
individual upon certification by the University Registrar that the individual has satisfactorily
completed all requirements for the degrees 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.
The student graduated in May 2014 with a single degree with a double major. Prior to
graduation, the advisor did not point out the difference between a double major and dual degrees.
The student thought he was on the path for dual degrees, based on the number of credits he had
completed, as well as an assumption that a “double major” meant “dual degrees.”
On behalf of the Academic and Student Affairs Committee, Trustee Edwards asked for
approval of ASACR 2 and it passed without dissent. (See ASACR 2 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
-5-

* K.

Candidate for Degree: August 2014 (ASACR 3)

Trustee Edwards stated that ASACR 3 was the recommendation that the President be
authorized to confer upon the individual whose name appears, the degree to which he is entitled
upon certification by the University Registrar that he 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 an administrative error, the name was not previously submitted.
On behalf of the Academic and Student Affairs Committee, Trustee Edwards asked for
approval of ASACR 3 and it passed without dissent. (See ASACR 3 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)

L.
Academic Degree Recommendation: College of Arts and Sciences (Bachelor of
Arts/Bachelor of Science in Modern and Classical Languages, Literatures and Cultures)
(ASACR 4)
Trustee Edwards stated that ASACR 4 was the recommendation that the Board of
Trustees approve the establishment of a Bachelor of Arts/Bachelor of Science with a major in
Modern and Classical Languages, Literatures and Cultures degree in the Department of Modern
and Classical Languages, Literatures and Cultures, in the College of Arts and Sciences, effective
January 1, 2015.
The proposed major is designed to advance undergraduate student proficiency in and
understanding of the linguistic structure of world languages and to introduce students to critical
and theoretical approaches to an array of cultural products (e.g., art, film, folklore, literatures,
music, mythology, pop culture, religion, and theatre). The major is designed to demonstrate the
breadth and depth of the discipline and the connections among peoples, regardless of the
language they speak or their national citizenship. The program has the approval of the
appropriate councils and the University Senate and has completed the 45 day review process of
the Council on Postsecondary Education. The Provost of the University supports this
recommendation
On behalf of the Academic and Student Affairs Committee, Trustee Edwards asked for
approval of ASACR 4 and it passed without dissent. (See ASACR 4 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
M.
Change in Name and Organizational Structure of the Graduate Center for
Toxicology (ASACR 5)
Trustee Edwards stated that ASACR 5 was the recommendation that the Board of
Trustees approve the change in the name and organizational structure of the Graduate Center for
Toxicology to the Department of Toxicology and Cancer Biology, in the College of Medicine,
effective January 1, 2015.

-6-

* The proposal to broaden the current Graduate Center for Toxicology into a new
Department of Toxicology and Cancer Biology is based on the desire and need to take advantage
of the unique education and research strengths of the faculty in the Center. A key academic goal
is to provide a single department with a strong research environment for homing new faculty
recruitments with research foci in cancer and environmental disease. A second key goal is the
development of an integrated and strong educational program in toxicology and cancer biology
that can serve as a platform for education of undergraduate, professional and graduate students,
together with training of postdoctoral fellows/scholars and clinicians.
On behalf of the Academic and Student Affairs Committee, Trustee Edwards asked for
approval of ASACR 5 and it passed without dissent. (See ASACR 5 on the Board of Trustees
website, www.uky.edu/Trustees, under agenda.)
N.

University Athletics Committee

Trustee C.B. Akins, Sr., chair of the University Athletics Committee, reported the
University Athletics Committee met that morning.
Deputy Athletics Director DeWayne Peevy gave a report of fall and winter sports. Items
of note included that though the football program finished one win short of bowl eligibility, the
program made significant strides in Coach Stoop’s second year. Looking ahead, the program is
sustaining momentum on the recruiting trail, currently ranked No. 25 in the Rivals.com class of
2015 rankings after last year’s record finish of No. 17. UK football has been awarded a Thursday
night game for next season. UK will host Auburn on October 15, 2015 and a working group has
already begun meeting to plan for the event and capitalize on the national spotlight offered by
playing the game.
The women’s soccer team reached the Sweet 16 for the first time in school history,
finishing 2014 with a record of 16-7-1 under head coach Jon Lipsitz. Senior Arin Gilliland, the
most decorated player in program history, capped her career by receiving the SEC Defensive
Player of the Year award and being named an All-American for the third straight season.
Trustee Akins continued that the volleyball team reached the NCAA Tournament for the
10th season in a row, a school record, before falling to Ohio State in the second round. Men’s
soccer saw its season end in the first round of the NCAA Tournament, but not before one of its
most successful seasons ever. Coach Johan Cedergren was named Conference USA Coach of
the Year. Junior goalkeeper Callum Irving was named C-USA Player of the Year and Defensive
Player of the Year, in addition to winning the Golden Glove Award. The cross country team
concluded the fall at the NCAA Southeast Regionals. The men finished ninth and the women No.
12. Men’s and women’s golf concluded successful fall seasons.
In winter sports, the men’s basketball team is unbeaten and ranked No. 1 in the country.
Women’s basketball is now No. 8 in the Associated Press poll after solid wins over top ranked
teams, including a comeback win over Louisville. The rifle team, 7-1 and ranked in a tie for
fourth, will return to action in January. The men’s and women’s swimming and diving teams
have competed in six meets so far this season.
-7-

* Off the field, baseball alumnus and Lexington businessman Jim Host was honored by the
National Football Foundation as the recipient of its award for Outstanding Contribution to
Amateur Football. The football team earned an Honorable Mention American Football Coaches
Association (AFCA) Academic Achievement Award based on the program’s graduation rate.
Football senior Max Godby was one of 11 Football Bowl Subdivision (FBS) players named to
the Allstate AFCA Good Works Team. Football junior Landon Foster was named Academic AllAmerica.
Trustee Akins continued that Junior Bria Goss has been nominated for the Women's
Basketball Coaches Association Allstate Good Works Team in recognition of her commitment to
community service. Women’s soccer senior Stuart Pope was named an Academic All-American
for the second consecutive season. Women’s basketball has been selected to host three NCAA
Tournament Regionals in Rupp Arena starting in 2016. John Cropp Stadium, home of the
University of Kentucky softball team, was named collegiate softball's Field of the Year by the
Sports Turf Management Association. Kentucky’s sports turf director Marcus Dean was named
the Winfrey P. Bunton II Man of the Year by the Kentucky Turfgrass Council. The award was
established to recognize an individual in the turf industry who has made significant contributions
to the profession.
Trustee Akins reported that Sandy Bell updated the committee on the UK studentathletes’ most recent federal graduation rates and graduation success rates. The NCAA
Graduation Success Rate (GSR), a four-year composite for the freshman classes of 2004-05
through 2007-08, was 81 percent. That was up two points from last year and continued UK’s
trend of having broken or tied the mark every year. This figure means that 81 percent of the
student-athletes who entered UK as members of these freshman classes either graduated or
transferred from the University in good academic standing. She also informed the committee of
ways in which the Department educates, communicates and monitors its student-athletes and
other groups to facilitate rules compliance in the academic area.
In business items, the Committee considered and accepted as presented the 2013-14
Audited Financial Statements and the Independent Auditors’ Report on Financial Statements and
Supplementary Information for the Department of Intercollegiate Athletics. Treasurer Susan
Krauss reviewed the management’s discussion and analysis of the statements of net position.
This included assets, liabilities and operating revenues and expenses.
Trustee Akins concluded that Ms. Krauss also reviewed the interim financial statements
of the Department for the three months ended September 30, 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.
O.

Finance Committee Report

Trustee James Stuckert, chair of the Finance Committee, reviewed for the Board the
consent items, FCR 1 through FCR 3, which were vetted in detail earlier at the Finance
Committee Meeting. He thanked C. F. Pollard, Bill Gatton and William Seale for their generosity
to the University.
-8-

* P.

Establishment of the Arboretum Operating Quasi-Endowment (FCR 4)

Trustee Stuckert stated that FCR 4 was the recommendation that the Board of Trustees
approve the establishment of The Arboretum Operating Quasi-Endowment to provide support for
the University of Kentucky-Lexington-Fayette County Arboretum.
The Arboretum Operating Quasi-Endowment will provide perpetual support for general
operating expenses, upkeep and maintenance, equipment purchases, salaries and supplies.
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.)
Q.
Establishment of the Food Connection at the University of Kentucky QuasiEndowment Fund (FCR 5)
Trustee Stuckert stated that FCR 5 requested that the Board of Trustees approve the
establishment of The Food Connection at the University of Kentucky Quasi-Endowment Fund in
the Office of the Executive Vice President for Finance and Administration with an initial transfer
of $1,000,000.
The quasi-endowment will be funded through monies received from the University of
Kentucky’s dining partner, Aramark Holdings Corporation (“Aramark”). Spending distributions
from the endowed fund shall support the newly established Food Connection at the University of
Kentucky Program (“Program”), created as a public-private partnership between the University
and Aramark to focus on local food production and promotion. The endowed fund will provide
support for student internships, fellowships and travel related to the Program and other support
deemed necessary and desirable to aid in student success related to the Program.
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.)
R.
Establishment of the University of Kentucky Corporate Partner Scholarship
Quasi-Endowment Fund (FCR 6)
Trustee Stuckert stated that FCR 6 was the recommendation that the Board of Trustees
approve the establishment of the University of Kentucky Corporate Partner Scholarship QuasiEndowment Fund in the Office of the Executive Vice President for Finance and Administration
and to be administered by the Office of Academic Scholarships with an initial transfer of
$1,000,000.
The quasi-endowment will be funded initially with monies received by the University of
Kentucky’s dining services partner, Aramark Holdings Corporation. The annual spending
distributions from the endowed fund will support one or more scholarships annually, to be
determined by a scholarship committee appointed by the Executive Vice President for Finance
-9-

* and Administration and Provost, to students who have demonstrated potential for academic
success.
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 Trustees website, www.uky.edu/Trustees,
under agenda.)
S.
Establishment of the Undergraduate Research Office (UGR) / National
Conference on Undergraduate Research (NCR) Quasi-Endowment Fund. (FCR 7)
Trustee Stuckert stated that FCR 7 was the recommendation that the Board of Trustees
approve the establishment of the Undergraduate Research Office (UGR) / National Conference
on Undergraduate Research (NCUR) Quasi-Endowment Fund in the Undergraduate Research
Office with an initial transfer of $200,000.
The quasi-endowment will be funded initially with monies received from hosting the
National Conference on Undergraduate Research (NCUR) at the University of Kentucky on
April 3 – 5, 2014. The annual spending distributions from the endowment will be used at the
discretion of the Director of the Office of Undergraduate Research, subject to the approval of the
Associate Provost for Undergraduate Education, to support research practices by University of
Kentucky undergraduate students.
On behalf of the Finance Committee, Trustee Stuckert moved approval of FCR 7 and it
passed without dissent. (See FCR 7 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
T.
Acceptance of 2013-14 Audited Financial Statements and the Independent
Auditor’s Report on Financial Statements and Supplementary Information (FCR 8)
Trustee Stuckert stated that FCR 8 was the recommendation that the Board of Trustees
accept the University of Kentucky Audited Financial Statements for the Fiscal Year ended June
30, 2014, and the Independent Auditor's Report on Financial Statements and Supplementary
Information.
Trustee Stuckert stated that both items were also discussed in depth at the Audit and
Compliance Subcommittee meeting, with a presentation by BKD LLP, Certified Public
Accountants.
On behalf of the Finance Committee, Trustee Stuckert moved approval of FCR 8 and it
passed without dissent. (See FCR 8 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)

U.
Acceptance of Interim Financial Report for the Three Months Ended September
30, 2014 (FCR 9)

- 10 -

* Trustee Stuckert stated that FCR 9 was the recommendation that the Board of Trustees
accept the University of Kentucky consolidated financial report for the three months ended
September 30, 2014.
Trustee Stuckert offered that this financial report was vetted thoroughly in the morning
Finance Committee meeting.
On behalf of the Finance Committee, Trustee Stuckert moved adoption of FCR 9 and it
passed without dissent. (See FCR 9 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
V.
Repair/Upgrade/Improve Building Shell Systems Capital Project (2015 Parking
Garage Maintenance and Restoration) (FCR 10)
Trustee Stuckert stated that FCR 13 recommended that the Board of Trustees approve the
initiation of the Repair/Upgrade/Improve Building Shell Systems Capital Project (2015 Parking
Garage Maintenance and Restoration). This project will cover the recommended maintenance
and repairs for the University’s eight parking structures during 2015.
On behalf of the Finance Committee, Trustee Stuckert moved adoption of FCR 10 and it
passed without dissent. (See FCR 10 on the Board of Trustees website, www.uky.edu/Trustees,
under agenda.)
W.

Remote Site Fiber Infrastructure Capital Project (FCR 11)

Trustee Stuckert stated that FCR 11 was the recommendation that the Board of Trustees
approve the initiation of the Remote Site Fiber Infrastructure Capital Project.
Trustee Stuckert explained that the Kentucky Regional Optical Network (KyRON) is a
collaborative effort of the Council on Postsecondary Education (CPE), the University of
Kentucky and the University of Louisville (UofL). The primary purpose of KyRON is to
promote, develop and provide advanced fiber-optic network infrastructure and services to all
public universities in Kentucky. The connected universities, starting with UK and UofL, will be
able to use the networks for “Big Data” research collaborations with other leading research
universities and federal agencies in the United States. The networks also will facilitate the flow
of medical “Big Data” supporting UK’s healthcare mission. In close collaboration with the CPE,
the networks are being designed so that all Kentucky universities will be able to take advantage
of the high-speed circuits.
This project was authorized by the 2014 Session of the Kentucky General Assembly.
The scope of this project is $1,600,000 and will be funded with agency funds.
On behalf of the Finance Committee, Trustee Stuckert moved adoption of FCR 11 and it passed
without dissent. (See FCR 11 on the Board of Trustees website, www.uky.edu/Trustees, under
agenda.)

- 11 -

* X.

Renovate/Expand Student Center Capital Project (FCR 12)

Trustee Stuckert stated that FCR 12 was the recommendation that the Board of Trustees
approve the initiation of the Renovate/Expand Student Center Capital Project and declare official
intent to reimburse the capital expenditures from a future debt obligation.
Trustee Stuckert explained that the U.S. Department of Treasury regulations related to the
use of proceeds of tax-exempt bonds or notes require that the borrower make a Declaration of
Official Intent to reimburse itself for capital expenditures made prior to the issuance of the debt
if the issuer intends to reimburse itself from the tax-exempt debt proceeds.
Trustee Stuckert moved adoption of FCR 12 and it passed without dissent. (See FCR 12
on the Board of Trustees website, www.uky.edu/Trustees, under agenda.)
Y.

Approval of the 2013-14 Endowment Match Program Annual Report (FCR 13)

Trustee Stuckert stated that FCR 13 was the recommendation that the Board of Trustees
accept the following 2013-14 Endowment Match Program Annual Report.
Trustee Stuckert explained that the Endowment Match Program, also known as ‘Bucks
for Brains’, is one of several programs created as part of the Research Challenge Trust Fund.
Pursuant to the Council on Postsecondary Education’s Endowment Match Program Request and
Reporting Procedures, the Board of Trustees must review and approve an annual report on UK’s
participation in the program.
On behalf