University of Virginia Library

OFFICE OF THE COMPTROLLER

The President reminded the Board that he had stated at the November meeting that he
would present to the Board at this meeting a plan to re-organize the control over the financial
and business operations of the University and the University Hospital. He wished through these
changes to secure better supervision, particularly over the financial affairs of the Hospital.
The plan was designed also to relieve him of duties connected with the execution of contracts and
other legal instruments. After discussion of the matter, the following resolutions were adopted,
subject to approval by the Special Counsel for the University as to the legality of the delegations
made by the Board, this action to be effective January 1, 1953

RESOLVED by the Board of Visitors of The Rector and Visitors of the University of Virginia
that the chief financial officer of the University of Virginia shall be the Comptroller, who also
shall be the Bursar. In addition to his duties as Bursar, he shall administer the financial affairs
of the University and the University Hospital, subject to the direction and control of the President
and the Board of Visitors

AND, BE IT FURTHER RESOLVED that the Comptroller shall prescribe business policies and
procedures, see that the budget is faithfully adhered to by all departments and activities, shall
direct all business affairs of the University of Virginia and the University of Virginia Hospital,
and shall discharge such other duties as may be assigned him by the President.

RESOLVED that Vincent Shea be and he is hereby elected to the position of Comptroller,
as created by the above resolutions

RESOLVED that the Rector, the President, and the Comptroller of The Rector and Visitors
of the University of Virginia be and each of said officers is hereby given full and complete
authority to execute in the name and on behalf of The Rector and Visitors of the University of
Virginia, any instrument which may hereafter require the name of this corporation to be signed
thereto and the secretary of this corporation is hereby authorized to affix the seal of this

corporation to any and all such instruments and to deliver any such instrument or instruments to
the party or parties entitled to receive the same.

RESOLVED that any one of the following officers, namely, The Rector or President or
Comptroller, be and is hereby authorized and empowered to sell, assign and transfer any and all
stocks, bonds, evidences of interest or indebtedness, rights, and options, to acquire or to sell
the same, and all other securities, corporate or otherwise, standing in the name of, or belonging
to, this corporation in any capacity, and be it further

RESOLVED that The Rector or the President or the Comptroller be and is hereby fully
authorized and empowered to give the assent of this corporation to such mergers, consolidations,
agreements for deposit of stock, or for re-organization of any corporation in which The Rector
and Visitors of the University of Virginia may have an interest.