University of Virginia Library

APPROVAL OF INVESTMENT IN THE UNIVERSITY'S RESEARCH
ENTERPRISE

WHEREAS, the Board has reviewed the status of the research program within the University with the intention that the University build its research enterprise in support of its goals and the Governor's goals for teaching, knowledge creation, technology transfer, and economic development; and

WHEREAS, the University's research program requires an investment in facilities and faculty to achieve and maintain the national standing it seeks; and

WHEREAS, the Educational Policy Committee has asked the President and the Executive Vice President to propose a plan to proceed promptly with the construction of Medical Research Building #6; and

WHEREAS, the Educational Policy Committee also has requested a detailed five-year plan for research based on preliminary information provided by the Vice President and Provost in August 2003, calling for a total investment of $128.5 million and a Board of Visitors commitment of $60 million over the period 2004-2009;

RESOLVED that $20 million be allocated to complete the funding required for Medical Research Building #6 from institutional indirect cost recoveries and investment earnings, subject to funding of the remainder from School of Medicine sources and General Obligation Bond proceeds; and

RESOLVED FURTHER that it is the intent of the Board to invest an additional $40 million from institutional funds in the research enterprise over the five-year period 2004- 2009 to fund, along with other monies provided by the schools and Vice President for Research, ten "National Academy caliber" faculty teams and an Advanced Research and Technology Facility, subject to the submission of an acceptable five-year plan for research not later than April 2004; and

RESOLVED FURTHER that such investment will be made as part of the annual budget approval process over the fiveyear period 2004-2009 subject to confirmation that funding is available, that appropriate measures and milestones are in place, and that progress is being made consistent with the plan to be presented for the research program.

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In adopting the next resolution, the Board expressed its intent as follows: It is the intent of the Board of Visitors that additional funding equivalent to 1 3/4% of

the salary budget base be provided to The University of Virginia's College at Wise in 2003-04. Resources comparable to those envisioned for the University of Virginia's classified employees also will be provided to The University of Virginia's College at Wise.