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C K N T R A L ~ I C H
BOARD OF
G A N U N V E R S IT Y
TRUSTER S
"'arc h 9, 1984
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Central Michigan University Board o f Trustees
Mee tlng of March 9, 1984
Mt. Pl e a s ant, Mi c higan
Members pr~sent: Mr. Alfred J . Fortino, Chair;
Dr . Bernadine N. Denning; Hr . Raymond A. LaRounty;
Dr . Gordon N. Lambie; Ms. Raehael E. Moreno; Mr . William C.
Odykirk; Mrs . Margaret A. Riecker; Mrs . Alice TomboulLan;
Dr . Harold Abel , President.
Members absent: none .
Also attending: Dr . John E. Cantelon , Provost;
Mr . Arthur E. Ellis, VtcP President tor Public Affairs;
Hr . James L. Hill, Vice PreSident for Student Affairs;
Mr . Richard L. Miller, Sec r etary to the Roard of Trustees;
Mr . Jerry R. Tubbs, Vice President for Ausiness Rod finance .
The meeting was called to order by Chair Fortino at 9:40
a .m.
The minutes of the January 26 meeting were approved as
printed.
EMERITUS RANK :
It was movpd by Dr . Bernad ine Denning , seconded by
~'rs. Margaret Riecker, and carried , that Marilyn !)emIow,
Director/Nurses, Health ~ervlces. be Kranted emeritus r ank
effective February 1, 19R4 and that the rollowing resolution
be adopted .
WHEREAS, Marilyn Demlow has devoted twenty-three (23)
yea r s and six (6) months of her life to the
interests of Central Michigan Uni vers ity at the
Uni versity Health Services and has earned the hi8h
respect. of students. faculty and staff , as well IlS
thllt of her collellgu('s at other institutions; and
WHEREAS, She has given time and effort in serving
with distinction on nu~erous University co~ittees;
1996
Eme r i tus Ra nk con tin ued
her uniquf> knowl~dgc of thp f>tudents ' health
status, habits and interests have proven
invaluable; and
WHEREAS , She has participated in professional
associations on the state and national levels; and
WHEREAS, She has been known for her integrity in
the way In which she performed her responsibilities
as Director or Nurses, and has helped in important
ways to provide student hpalth services that
reflect favorably thp ideals of her profpssion; and
WHEREAS, She has provided leadf'rshtp in improving
the quality or hea lth care rendered at rpntral
Michigan University;
BE IT TItER~~'ORE R~:SOLVED, That the Roard of
Trustees, on behalf of the University commun ity,
e~presses appreciation to Marilyn npmlow for her
cont ributions to Central Michigan University and
e~tend8 Emeritus rank .
It was moved by ~r . William Odykirk, seconded by
Dr . Bernadine Denning, and carried , that Theodore KJolhedc
Athletic Director and Associate Professor, Physical Educa_'
tion and Sport, be granted emeritus rank and that the
rollo_lng resolution be adodpted .
WHEREAS, Ted Kjolhede has devoted 32 years o f his
life to Central Michigan University as a student,
coach, teacher and administrator; and
'IlERPAS, lie gradul\ted frOM Central Michigan with
academic honors Rnd was Captain and Most Valuable
Player on the basketball team, Prpsident of the
Hen's Union a nd a memher of the Student Counci l;
.,d
lfllF.REAS, He spent eIght producti ve years teaching
and coaching in the Michigan public ~chools, which
included a mythical State Football Championship at
Battle Creek High School; and
WIIERP.AS, He was the winning-ellt coach in Cr.W
athletic history, winning four Interstate
1997
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Emeri tus Rank continued
tntercol1egi&te Athletic Conference Basketball
Ch&mpl0nships. taking the Chippewas to si~ national
tournaments , and being na~ed NAJA Coach of the
Year; and
WHEREAS, As Athlptic Director from 1973 through
1984, he w&s instrumental in C~U's admiSSion to the
Mid-American Conference and skillfully led rNU to
Divi~ion I status in all NCAA sports; and
WHEREAS, His leadership was instrumental In the
emprgence of women's athletics at eMU; and
WHERF.AS, He always managed to keep ath l etics at CNU
1n the proper educational perspective; and
WHEREAS , He has been an active partici pant and
contributor to his community and church; a nd
'HEREAS, His professional activities both on and
off campus have demo nstrated integrity and
dedication and provided state and national
recognition to both the UniverSity and the athletic
program;
BE IT THEREFORE RESOLVED, That the Board of
Trustees, on behalf of the Unive r sity community,
e~presses appreciation to Theodore Kjolhede for his
contributions to Central Michigan University and
extends Professor Emeritus rank .
SPECIAL RRSOLUTION ~R KENN8TH (BILL) KRLLY :
It was moved by Mr . Willia~ Odykirk , seconded by Ms . Rachael
Moreno , and carripd, that the followlng resolution be
adopted .
WHP.REAS, Kenneth (Rill) Kelly was a successful and
colorful part of the Central Michigan UniverSity
community since he first enrolled as a student here
in 1926; and
WHEREAS, As an undergrllduate , 6ill Kp.l l y was
president of the Rtudent body, edito r of the
student newspappr and r ecipient of a reco r d 13
varsity athletiC awards; and
199~
Spec ial Rcsolu t i on continued
WHEREAS, tie became one of loIichigan's best known and
most successful high school coaches in a career
which culminated in his election in 1983 to the
Michigan lIigh School Football Coaches Hall of Fame;
aod
WHEREAS, He coached football, basketball and tpnnis
at Central Michigan University for various periods
of time between 1951 and 1967, achieving the most
vIctories of any football coach in University
history and paving the way for the University's
admission to the ~id-American Conference; and
WHEREAS, Rill Kelly's highly competitive spirit,
outspoken nature and fierce devotion to CMU and the
many students and staff here whose l ives touched
his, made him a legend of University athletic
history;
BE IT THEREFORE RESOLVED , That the Hoard of
Trustees of Central Michigan Unive r sity, on behalf
of the entire University community, mourns Bill
Kelly's death on March 7 , 1984, and offers
condolences to his fami l y and many f r iends who will
miss his companionship , plainspoken counsel and
inspiration .
DEAN'S REPORT:
Mr . John W. Weatherford, Director of Libraries.
ASSESSMENT AND DEVELOPMENT COMMITTEE:
The Chair announced the appointment of Ms . Rachael Moreno to
the Assessment and Development Committee .
PROPOSED CHARTER AND BYLAIS: (Assess. a nd Dev. Co ~.)
I t was moved hy Mr. Ray ~ond LaBounty , seconded by
Ms . Rachael Morcno, and carried, that tbe fol l owing resolution
be adopted .
1999
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Proposed Charter and Bylaws continued
RE IT RESOLVF.D, That the Charter and Bylaws ot
Cent.ral "'tchigAn University Roard of Trustees , as
recommended by the Assessment and Developnent
Committee, are adopted and shall be effective
immpdiately. Prior Board action which conflicts
wit.h them is hereby superseded by this action .
Thp following sections are tabled . Tbey will be
recommended to the Board for adoption following
furt.her com~ittee consideration .
Article IX, Spction 2 . E. 4. Duties of Board
Secretary .
Article IX , Section 2 . f . Contracting
Authority .
Contracting aut hority AS specified in the Policy
Manual will remain in effect pending Adoption by
the Board of Trustees of a revised policy .
STAFF REPORT:
Mr . James l..ombard , 01 rector of Un i versi ty Rven ts .
A C ADE~I C AFFAIRS OOMMITTRB :
Mrs . Alice Tomboulian, Chair of the Academic Affairs
Committee, presented the Roard Chair with a printed copy of
the Master PlAn. Committ.ee discussion included honorary
degree candidateR, future committee agendA itPms , And
emeritus rank for sta" (tabled) . Tbe comnittee recommended
that student interaction with the Board would be MOre
appropriate through the Board's Student Affairs Committ.ee
than through tht> Faculty-Tr ustees I.iaison ('ommittee .
In addition , Mrs . Tomboulian, as the Board's liaison witb
ISAbella Cou nty regarding solid waste management planning,
presented an upciftte .
2000
GRAOUATE ASS ISTANT STIPENDS POR 1984-85: (Fi na nce COdl.)
It WAS moved by Dr . Bernarline Denning, seconded by
Mr . William Odykirk, ~nd carrien, that the following resolutlon
be adopted .
BE IT RF,SOLVED , That effective with the 1984-R5
academic year, Graduate Assistant Sti pends he established
as fol l ows:
Oegree Pu rsuod
Master's
Pull-t ime Equated
GA Teach!ng Load
Specialist or Docto rate
(with at least 30 semester
hours of credit beyond
baccalaureate)
$5 . 300 - $6,300
$6,000 - $7 ,300
Stipend s for individual Gra du ate ASSistants will be
determined at departmental/school discretion .
All Graduate Assistants are cla ssified as Mi c higan
r esidents for tuition purposes .
FACULTY MARKET ADJUSTMENTS: (Fi nance Committee)
It was moved by Dr . Bernad ine Denning, seconded by
Mr . William Odykirk, and carr i ed , that market adjustments
r et roactive to the beginning ot t he 1983-84 academic year be
approved fo r t he fol l Owing people .
Ronald Beaulieu
Robert Chaffer
Gerald Church
Sahab Dayal
Dennis Farley
Edward Grant
John Hansen
Shu Ping Hodgson
Management
~ athematics
Communication Disorders
Management
Ma rketing and 1I0spitallty
Services Administration
Accounting
Com pu ter Science
Mathematics
2001
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Facul ty Ma rket Adjustments
Lawrence Jenicke
Arthur Kagle
Edwin Kaufman
Philip Kintzele
Susan Lenker
Te rry I.enker
Kenneth McCleary
John Mitche ll
Douglas Nance
Roy Re ynolds
Daniel Schneid
Syed Shahabuddin
Alohan Sh riknande
R. Gene Stout
Ri chard St . Andre
Mary Wardrop
Pamela Weaver
Thomas Weiri ch
continued
Inf o rmati on Systems and
Analysis
Accounting
Mathema tics
Accounting
Info rmati on Sys tems and
Analysi s
Ma t hema ti cs
Marketing And Hospitality
ServiceR Administrati on
Finance
Ma themat ics
Management
Pi nance
Information Systems and
Analysts
Ma thema ti cs
Finance
Mathematics
Mathematics
Marketing and Hospitality
Ser vices Administration
Accounting
DELEGATION OF FINANCIAL INSTITUTION AND CASH PLO. AUTHORITY:
(Finance commI ttee)
It was moved by Dr . Bernadine Denning, seconded by
Wr . William Odykirk, and ca rried , that the rollowtng resolution
be adopted .
2002
Del. of Fin. Inst. and Casb Flow Authority c ontinued
BE IT RESOLVED, That the Uni versity Investment Policy,
as re corded in Chapter 13, pages 6 , 7, 8 and 9, of
the Policy ~lanual, is herehy amended to r(>ad as
follows:
INV ESTMENT POLICY
CENTRAL MICHIGAN UNIVERSITY
Investment Committee
The University will form an Investment Comm ittee t o ha ndle
the day-to- day investment of pooled cash, Endowment Fund
investments, and other marketable securities . The Committee
will consist of the Vice President for Business and Finance,
the Assistant Vice President fo r Financial Affairs, the
Di r ector of Buslne~s Services, and the Manage r of Investments
and Risk Managemen t . In unusua 1 c i rcums tances, the
Committee will meet with the Finance Committee of the Board
of Trustees before action is taken .
Endowme nt Pu nd Investments
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Gifts of cash or ma rketable s(>curities restricted by the
donors for specific purposes and for which only the lncome ~
may be expended are recorded 1n the Endowment Fund . Cash is
usually invested immediately in common stock , bonds , o r
other marketable securities . The first consideration in
Endowment Fund Inve~tments is to adhere to the donor's
wishes concerni ng the retention of II. particular marketable
security . Other wise, the Investment Committee would be
responsible for buying and selling the securities to
maximize total return within an acceptable level of ri sk in
order to keep pace with lnflationary trends . At the
Committee ' s discretion, t he funds could be handled by an
outside agency or could be retained locally in a bank
safekeeping vault . Investments in the F.ndowment fund will
be high g r ade securiti~s .
Unrestricted Marketable Securities
Investment securities received f r om donors with no
restrictions as to use are recorded 1n the Development
Fund . In most cases, these securities are purchased f rom
the Development fund (DeSignated) and placed in the General
Pund as unrestricted marketable securit ies .
2003 •
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Del . o f Pin . In s t. and Cash P l ow Authority continue d
Generally, the intent is to sell these sp.c urities and not
reinvest the proceeds . The cash is then available for
General Fund purposes .
While it is permissible to ac cept corporate bonds and stocks
in the General Fund, it should be the intent to sell these
securities as qui ck ly as possibl e or, at arm's length, sell
the secnrities to an F.ndowment Pund if cash is ava ilable
there for thllt purpose . In e ither case, the ac ce ptance of
unrestric t ed marketable securities should produce General
Fund cash for unrestricted purposes .
Sho rt-term Inves tments of Pooled Cash
The maximum amount of available cash in excess of normal
operating needs is to be invested in income-bearing
instruments to seek the maximun r eturn available at the
l owest possible r isk; the preservation ot principal overrides
any consideration of apprec iation of principal .
The following guidelines are to be followed in the selection
of money market instruments and the sources to be used in
the investment of cash .
1 . The selection of a specific source and the specific
instruments is to be based on changing market conditions
for the price of money .
2 . The investment in money market instruments may be those
issued by any financial institution organized under
Federal or State law . In order to invest outside the
State of Michigan, the rate of r eturn must be at least
one-quarter percent (1/4") higher than funds available
within Michigan at the time at purchase, All fin_n cial
institutions must meet or exceed the financial c r iteria
ratings as ag reed upon by the investment committee .
3 . At least 50," ot the total funds available is to be
invested in instruments which a re convertihle into cash
at any time without loss of principal .
4 . No more than 50," of the t o tal invested is to be invested
in instruments which mature later than 180 days.
5. In compl iance with Article IX, Sections 19 and 20 ot the
Mi c higan Constitution, investment in instruments issued
by any financial institution organized under Federal or
State law , is not to exceed SOl of the net worth of that
institution ,
2004
Del . of Fi n. l ns t. and Cash Flo. Autho rity c ontinue d
6 . Investment In commercial pAper is not to exceed 2~I of
the total cash invested .
7. No more than 101 ot the total cash avatlable for
investment 1s to be invested in any single company
issulng commercial paper. Also, the commercial pa per
should have a rating of Prime 1, Al, or PI (as uRed by
Moody, Standard l Poors or Pitch) and the rate of return
must be at least one-quarter percent (1/4') above the
rate ot return available on U. S . obligations and/or at
least one-quarter percent (1/4') higher than the rate of
return available from Michigan financial institutions.
Subject to the above restrictions, investment may be made In
any of the following money market instruments:
1. Certificates of Deposit
2 . Repurchase Ag r eements
3. Passbook Savings deposits
4. Bankers Acceptances
5 . Treasury bills and notes
6 . Other U. S . Agency securities
7. Money Ma r ket Certificates
8 . Common Fund for Short Term Investments - The
Philadelphia National Bank - Trustee
9 . Commercial Paper
The Administ r ation is authorized to enter into a Trust
Ag r eement with the Philade l phia National Bank tor the
purpose ot manaling the funds deposited in the Common Pund
for Short Term Investments .
Mo n t hly Re po rt
At the end of each month, a report will be pr~pared showing
the status of the shor t term investment pool and disclosing
the follOwing information:
I. Amounts and percentage invested with each issuer (name,
type, interest rate, maturity date, amount) .
2005
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Del . of Pin. In s t. a nd Cash Flow Autho rity c ontinued
2 . A summary of the amount and pe r centagp invested tn each
type of instrument.
3 . Amount and percenlag~ invpsted by maturity dates .
4 . Wpighted Ilverage Ilnnual Interest rate of funds investpd
at the rnd of each month (face amounts ~ultlplied by
ratrs and divided by total amount invested) .
5 . Total invested amounts compared to average caSh balance
available for lnvest~ent .
KXTENOKD LKARNING TUITION AND PEES : (Finance COMm i ttee )
It WIlS moved by Dr . Bernadine Denntng , seconded by
Dr . Go r don LambIe, a nd carried, thllt the fol l owtn~
r esolutions he adopted .
flE IT RESOLVED, Tha t a dl fferen tt al til it ion ra te for
unde r graduate and g r adulltf' courses of fered th r ough
Con tinuing Education a nd COJllll1unity Se r vices bE'
established and that the follOwi ng tuition rates be
implemented effective July I , 1984 .
Undergraduatr tuition ~ 6S/sem . credit hour
Graduate tuition $ 72/sem . credit hour
AE IT RF.SOI,vED . That the rollowing tui tion increases
for p r ograms offered th rough the Institute fo r
Pe r sonal and CAree r Developmpnt be implemented
e ff ective July I , 19A4 .
Undergraduate tuition $ 90/sem . credit hour
Graduate tuitlon $125/selll . c r edit hour
STUDENT AFFAIRS COMMITTEK:
Dr . Go r don l,ambte, Cha i r of the Studen t Affai r s Committee,
r eported that the committee's organiza t iona l meeting focused
on the ~ajor concern of assu r i ng the oppo r tu nity for student
in put to the commi t tee . Gene r a l ly, t he com~lttee ag r ees
2006
Student Affai r s Commit tee cont in ued
that its meetings should be open, that the Pr esident of SGA
should be notified of all meetings and agenda topics in
advance and that the channel for input should be the Vice
President for Student Affairs. This suggested process will
be developed in more detail next month .
PERSONNEL R8COMMENDATI0NS:
It was moved by Mrs. Margaret Riecker, seconded by
Dr . Gordon Lambie, and carried. that personnel r ecommendations
appearing on agenda pages 1-6 and 8-15 be approved .
Copy on file tn the Office of the Secretary to the Board of
Trustees . (~arket Adjustments appearing on pages 7-8 were
approved as a separate item . )
GI PTS:
It was moved by Ms . Rachael ~oreno, seconded by
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Mrs. Margaret Rlecker, and carried , that gifts received
during October 1983 in the amount of $72.562.64 , during
November 1983 in the amount of $107,073 . 34, during December
1983 in the amount of $125,672 . 72 and during January 1984 in •
the amou n t of $195,507 . 67 be accepted with appreciat i on .
GRANTS :
It was moved by Dr . Gordon Lambie , seconded by
Mrs . Margaret Riecker and carried, that grants awarded
during the months of Novembor and Decembe r 1983 and January
1984 in the totAL amount of $15R,872 bE' accepted .
MICHIGAN ASSOC IATION OP GOVERNING BOARDS:
Mr. Raymond LaBounty stated that on April 11 at the Ketlogg
Center, Michigan State Uni ve r sity , there will be a workshop
for members of governing boards of the four-year pubU c
colleges/universities 1n the State . The purpose of thi s
workshop will be to discuss "The Ro l e of the Trustee " And to
hear II, preliminary report or the Governor's Commission on
the PuturE' of Higher Education .
2007
• ~ ic hig.n Assoc. of Gov . Roa r ds continued
Also, the thi r d annual Awards ConVOCAtion honor t ng
outstanding faculty and Rtudents from Mi chigan's four-ypar
institu t io ns will be held the same date, April 11, b~ginning
at 6:00 p , ~ . at the Kellogg rente r.
NEXT MEI':TING:
The next ~oard of Trustees meeting will be held Friday
Aprll 6 at the Cpnter for the Arts, 'lidland , Mi chigan, 'in
conjunction with a JOint "'MI_C;J,CU meeting .
CHANGES IN MEETI NG DATRS /PI~" CRS:
The July 13 and August 3 m('~tings are cAncelen . There will
be a meeting July 19, 19R4 .
• The meeting adjourned at 12:30 p . m.
Richard L. VUler
RE'c rptary to thp Roard of Trustees
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