BOTMinutes021602

The Lincoln University Board of Trustees met via teleconference on Thursday, June 27, 2002. Mrs. Adrienne G. Rhone, Chairwoman, called the meeting to order at 5:10 p.m.

Trustees in attendance: Dr. Robert L. Albright, Dr. William E. Bennett, Dr. Leonard L. Bethel, Mr. Warren R. Colbert, William C. King Esq., Dr. Calvin S. Morris, Mrs. Adrienne G. Rhone, Ms. Sharlene V. Roberson, Mr. Donn G. Scott, Mr. Dwight S. Taylor, Mr. David E. Warr; Ex-officio Trustees: Mr. Frank Meehan for Secretary of Education Charles B. Zogby, Dr. Ivory V. Nelson. Voting Strength: 13

Trustees absent: Mr. James S. Avery, Ms. Carol Ann Campbell, Mr. Barry Cooper, Mr. Frank C. Gihan, Richard H. Glanton Esq., Dr. David Knox, Dr. Ernest C. Levister, Michael P. Meehan Esq., Chief S.I. Odogwu, Mr. J. Vernon Peterson, Mr. Malcolmn D. Pryor, Mr. Manuel N. Stamatakis, The Hon. W. Curtis Thomas, Mr. Craig L. Tucker, Regina L. Warren Esq., The Hon. LeAnna M. Washington, The Hon. Hardy Williams. Ex-officio Trustees: The Hon. Johnny J. Butler for Governor Mark S. Schweiker; Faculty Representative: Dr. Penelope J. Kinsey; Student Representative: Mr. Jovan Davis; Emeritus Trustees: Mr. Walter D. Chambers, Dr. Frank T. Coleman, Dr. James A. Parker, Rev. LeRoy Patrick, Mr. Theodore Robb, Mr. William A. Robinson, Dr. Kenneth M. Sadler; Honorary Trustee Julius Rosenwald.

STANDING COMMITTEE REPORT

BUSINESS AFFAIRS COMMITTEE

Mr. Donn Scott, Chair of the Business Affairs Committee, presented the following resolutions for Board approval:

2002-03 TUITION

RES114_062702

WHEREAS, the Lincoln University administration has adequately substantiated the necessity of a 2002-03 tuition, fees and room increase of 7% and board increase of 4%; and

WHEREAS, the Commonwealth of Pennsylvania may restore some of its cut from the 2002-03 appropriation,

BE IT RESOLVED THAT, the Lincoln University 2002-03 tuition, fees and room increase of 7% and board increase of 4% is hereby approved, and

BE IT FURTHER RESOLVED THAT, subject to legislative or other limitations, it shall be the intent of Lincoln University that any restoration of said 2002-03 State appropriation cut will be applied as follows:

1. Sixty percent (60%) of the amount of the restored cut will be applied to adjust downward the increase in charges for tuition, fees, and room for 2002-03.

2. Forty percent (40%) of the amount of the restored cut will be added to the contingency for the 2002-03 operating budget.

Motion made by Mr. Scott; seconded by Ms. Roberson.

Favor: 11
Oppose: 1
Abstain: 1
Motion carried. 2002-03

OPERATING BUDGET

RES115_062702

BE IT RESOLVED THAT, the Operating Budget presented by the administration showing total expenses before depreciation of $41,385,385 including wage increases for represented and non-represented employees is approved.

Motion made by Mr. Scott; seconded by Dr. Albright.

Favor: 13
Oppose:
Abstain:
Motion carried unanimously.

2002-03 CAPITAL BUDGET

RES 116_062702

BE IT RESOLVED THAT, capital expenditures of $2,726,493 are approved for fiscal year 2002-03;

BE IT FURTHER RESOLVED THAT, the administration is authorized to make capital expenditures in fiscal year 2002-03 that in its judgment are consistent with but not identical to the individual projects included on the schedule presented;

BE IT FURTHER RESOLVED THAT, in authorizing these capital expenditures and providing some discretion to the administration, it is the intent of the Board of Trustees that the expenditures be made to improve the living and learning environment of Lincoln University students. Motion made by Mr. Scott; seconded by Dr. Morris. Favor: 13 Oppose: Abstain: Motion carried unanimously.

ESTABLISHMENT OF NEW RESTRICTED FINANCIAL ACCOUNT (INTERNATIONAL CULTURAL CENTER)

RES117_062702

WHEREAS, Lincoln University wishes to enhance donor confidence in the University, and

WHEREAS, Lincoln University collects revenues in three different categories: unrestricted, temporarily restricted, and permanently restricted; and

WHEREAS, Lincoln University has financial accounts where unrestricted and permanently restricted funds are deposited; and

WHEREAS, Lincoln University wishes to establish a separate financial account to deposit temporarily restricted funds,

BE IT RESOLVED THAT, the Lincoln University Board of Trustees approves the establishment of an interest bearing account at a competitive financial institution for the purpose of depositing temporarily restricted funds (International Cultural Center Fund).

Motion made by Mr. Scott; seconded by Dr. Albright.

Favor: 13
Oppose:
Abstain:

Motion carried unanimously.

ESTABLISHMENT OF ELECTRONIC
TRANSFER OPTION FOR MAKING CONTRIBUTIONS TO LINCOLN UNIVERSITY

RES118_062702

WHEREAS, Lincoln University desires to enhance donor confidence and the vehicles available for making contributions to the University; and

WHEREAS, the Lincoln University administration has determined that an appropriate account should be established and used to collect these electronically transferred funds [or proceeds of securities]; and other contributions made to the University; and

WHEREAS, the Board of Trustees shall receive notice of: (1) bank name; (2) type of account; (3) authorized signatures for the account which shall include at a minimum the President and Treasurer; and (4) number of signatures required to conduct banking transactions; and

WHEREAS, funds deposited and remaining in the account will earn interest and be designated for accounting purposes as temporarily restricted until such time as Lincoln University complies with the donor's intent.

BE IT RESOLVED THAT, the Lincoln University Board of Trustees approves, subject to agreed upon terms and conditions, the establishment of an interest bearing account at a competitive financial institution for the purpose of depositing these funds.

Motion made by Mr. Scott; seconded by Ms. Roberson.

Mr. Scott and Ms. Roberson accepted Mr. Colbert friendly amendment to the pending resolution as follows: (Second Paragraph) Insert [or proceeds of securities] after "electronically transferred funds."

Favor: 13
Oppose:
Abstain:
Motion carried unanimously.

There being no further business, the meeting adjourned at 5:55 p.m.