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[6]

Part of Minutes of the University of Kentucky Board of Trustees

-6- S. External Auditor for Fiscal Year 1982-83 (FCR 2) The Finance Committee so recommending, Mr. Clay moved that the firm of Arthur Andersen and Company, Certified Public Accountants, be engaged to perform an examination of the various accounts of the University of Kentucky and its affiliated corporations in accordance with the recommendation in FCR 2. Mr. Clay's motion was seconded by Mrs. Hayes and passed without dissent. (See FCR 2 at the end of the Minutes.) T. Authorization for Incineration of Paid Bonds and Coupons (FCR 3) - With the concurrence of the Finance Committee, Mr. Clay recommended and so moved the incineration of paid bonds and coupons as presented in FCR 3. His motion was seconded by Mr. Farmer and carried unanimously. (See FCR 3 at the end of the Minutes.) U. Capital Construction Report (FCR 4) Mr. Clay moved that the capital construction report for the nine months ending March 31,1983 be accepted. His motion was seconded by Mr. Larry Jones and passed without dissent. (See FCR 4 at the end of the Minutes.) V. Room and Board Rates 1983-84 School Year (FCR 5) Mr. Clay called on Vice Chancellor Blanton who explained through a series of charts the current and proposed room and board rates and the amount of increase for each plan. For the benefit of the newly appointed Trustees, Vice Chancellor Blanton explained that the Housing and Dining System at the University receives no state funds and is entirely self-supporting. He told the Trustees that the average 5 percent increase in room and board rates is necessary in order to meet the higher operating costs and financial demands of the Housing and Dining System. The proposed adjustments result primarily from increased labor, food, and utility costs. In closing, Vice Chancellor Blanton reported that increases in the University's cost of operating the Housing and Dining System over a five-year period were maintained at slightly less than increases in the Consumer Price Index. He reminded the Trustees that the proposed increase has been shared with student groups and published in the Kernel. Mr. Clay said the Finance Committee, along with the Board of Trustees, wished to compliment Vice Chancellor Blanton and his staff for the excellent manner in which the Housing and Dining System is handled. He then moved that the adjusted room and board rates recommended in FCR 5 be approved. Mr. Clay's motion was seconded by Mr. McCowan. It carried with one dissenting vote by Mr. Dinkle. (See FCR 5 at the end of the Minutes.)

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