Attendees: President Ivory V. Nelson, Vice President Michael B. Hill, Vice President Grant D. Venerable, Vice President Howard E. Merlin, Vice President William B. Bynum, Ms. Diane M. Brown
Minutes of the December 10, 2002Cabinet Meeting were approved.
PA Announces spending freeze for 2002-2003 The recent spending freeze announced by the Schweiker administration includes a 1% reduction in Lincoln University's state funding for 2002-2003. The cut represents a $128,000 reduction in Commonwealth support for Lincoln in fiscal 2002-2003.
Revised Approval Authority Level for Purchasing The approval authority for purchases from $500 to under $5000 has been revised to rest with the individual vice presidents. All purchases over $5000 require the review and approval of the fiscal vice president. A memorandum will be issued to formalize this revision.
The President indicated that he would draft a "Delegation of Authority" policy for implementation at Lincoln. The policy will designate and clarify levels of authority for all matters at the University.
Fiscal Affairs All financial contributions dated as of December 31, 2002 and received at Lincoln by January 15, 2003 will be recorded in the December closing.
The Cabinet meeting was adjourned at 11:35 AM.
Diane M. Brown
Assistant to the President