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[6]

Part of Minutes of the University of Kentucky Board of Trustees

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- 4-- addition, there are 825 voluntary faculty throughout the state supporting the college's education mission. There are 2,670 undergraduate students, medical students and residents and 1,980 non- faculty staff members. He stated that the College continues to improve in research and has doubled its National Institutes of Health (NIH) funding as well as its total research funding over the last five years. With $52M annually in research grants and contracts, the College is ranked 30th in NIH funding among public medical schools. For every 3,100 net square feet of research space, the College generates $lM. He reported that each year the physicians treat approximately 32,000 inpatients, 450,000 outpatients and provide more than 900 outreach clinics in central and eastern Kentucky. The College receives 15.7% of its revenues from state funds and in FY 99 leveraged that into a $213M budget. Dean Wilson distributed material about the College and entertained questions from members of the Board, following which he received a round of applause for his presentation. President Wethington thanked Dean Wilson for his presentation and for his good work in the College of Medicine. Governor Breathitt thanked Dean Wilson, Frank Butler and Chancellor Holsinger for the things they have done through the years to keep the Chandler Medical Center financially sound. J. Acceptance of Interim Financial Report for the University of Kentucky for the Eight Months Ended February 28. 1999 (FCR 1) Mr. Hardymon, Chairperson of the Finance Committee, reported that the Finance Committee met and considered 23 items on the agenda. He said that FCR 1 is the acceptance of the Interim Financial Report for the Eight Months Ending February 28, 1999. He noted that the revenues are running ahead of the expenditures at this time of year but are in line with previous years' percentages. He commented on the positive cash flow and said that it leads to a very positive and strong balance sheet. He said that there are some fluctuations, and those were discussed in the Finance Committee meeting. He moved approval of FCR 1. Mr. Chellgren seconded his motion, and it passed. (See FCR 1 at the end of the Minutes.) K. Patent Assignment Report (FCR 2) Mr. Hardymon said that FCR 2 recommends that the patent assignment report for the period January 1, 1999 through March 31, 1999 be accepted. He reported that there were six patents in the quarterly report and reviewed each assignment. He moved approval of FCR 2. His motion, seconded by Dr. Meriwether, carried. (See FCR 2 at the end of the Minutes.)

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