Board of Visitors minutes June 5, 1993 | ||
4707
APPROVAL TO DESIGNATE CURRENT OPERATING CASH BALANCES
FOR OUTSTANDING CAPITAL COMMITMENTS
- The following resolution was adopted:
- WHEREAS the University of Virginia Medical Center has outstanding capital commitments of $27.8 million as of February 28, 1993, of which $24.5 million are for capital items included in the Medical Center's fiscal year 1992 and fiscal year 1993 capital budgets approved by the Board of Visitors, and $3.3 million are for Phase I planning associated with the ambulatory care and related facilities project appropriated by the State; and
- WHEREAS the Medical Center desires to specifically designate a portion of its cash balance to be used to fund these capital commitments;
- RESOLVED that the Board of Visitors authorize the Medical Center to designate from its current operating cash balance, after meeting its working capital requirements, a sum sufficient to cover its outstanding capital commitments, not to exceed $27.8 million.
Board of Visitors minutes June 5, 1993 | ||