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Board of Visitors minutes
April 7, 2006

 
RESOLUTIONS ADOPTED BY THE BOARD OF VISITORS
 
TENTATIVE MINUTES SUBJECT TO THE APPROVAL OF THE BOARD OF VISITORS
 
APPROVAL OF THE MINUTES OF THE FEBRUARY 3, 2006 MEETING OF THE BOARD
 
INTRODUCTION OF NEW BOARD MEMBERS
 
INTRODUCTION OF MR. JAMES L. HILTON
 
ELECTION OF THE EXECUTIVE COMMITTEE
 
COMMITTEE MEMBERSHIPS
 
RESOLUTION FOR ADDENDA TO THE AGENDA
 
RESOLUTION COMMENDING CATHERINE S. NEALE
 
SETTING OF THE BOARD MEETING DATES FOR 2008
 
SUMMER ORIENTATION
 
EXECUTIVE SESSION
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NAMINGS AND PROFESSORSHIPS
 
NAMING OF THE CLAUDE MOORE NURSING EDUCATION BUILDING
 
NAMING OF THE BOYD TINSLEY COURTS
 
CHANGE IN THE NAME OF A PROFESSORSHIP TO THE JOHN L. COLLEY, JR., RESEARCH PROFESSORSHIP IN BUSINESS ADMINISTRATION
 
CHANGE IN THE NAME OF A PROFESSORSHIP TO THE NABI BIOPHARMACEUTICALS PROFESSORSHIP IN TRANSPLANTATION
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REPORT BY THE PRESIDENT
 
GIFTS AND GRANTS
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FINAL SESSION
 
ADOPTION OF THE GOVERNOR’S STATEMENT ON EQUAL EMPLOYMENT OPPORTUNITY AS UNIVERSITY POLICY
 
APPROVAL OF INCREASE IN FACULTY AND STAFF HOUSING RATES FOR 2006-2007
 
APPROVAL TO ESTABLISH THE MELLON PROSTATE CANCER RESEARCH FUND WITH AN INVESTMENT OF $8 MILLION
 
APPROVAL OF HISTORICAL MARKER AT THE UNIVERSITY OF VIRGINIA CEMETERY
 
APPROVAL OF THE ESTABLISHMENT OF A PRESIDENTS’ PLOT AT THE UNIVERSITY CEMETERY
 
DELEGATION OF AUTHORITY TO ESTABLISH CEMETERY AND COLUMBARIUM POLICIES
 
APPROVAL OF CONTRACT RATES FOR DINING SERVICES FOR 2006-2007 FOR THE ACADEMIC DIVISION AND THE UNIVERSITY OF VIRGINIA'S COLLEGE AT WISE
 
APPROVAL OF AN INCREASE IN THE AMOUNT OF SHORT-TERM LOANS FOR THE CONSTRUCTION OF THE JOHN PAUL JONES ARENA
 
APPROVAL OF THE UNIVERSITY’S DEBT POLICY AND INTEREST RATE RISK MANAGEMENT POLICY
 
APPROVAL OF THE UNIVERSITY’S CAPITAL AND OPERATING RESERVES POLICY
 
RESOLUTION TO AUTHORIZE TRANSFER OF ENDOWMENT FUNDS FROM THE UNIVERSITY TO THE JEFFERSON SCHOLARS FOUNDATION
 
APPROVAL OF SUMMARY OF AUDIT FINDINGS
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FACULTY PERSONNEL ACTIONS
 
ELECTIONS
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ACTIONS RELATING TO CHAIRHOLDERS
 
(a) Election of Chairholders
 
(b) Change of Title of Chairholder
 
(c) Retirement of Chairholders
 
PROMOTION
 
CHANGE IN THE TITLE OF THE PROMOTION OF DR. MARCIA MCDUFFIE
 
SPECIAL SALARY ACTIONS
 
CHANGE IN THE SPECIAL SALARY ACTION OF MR. EVAN S. MARCUS
 
RESIGNATIONS
 
RETIREMENTS
 
APPOINTMENTS
 
RE-APPOINTMENTS
 
CHANGE IN THE TITLE OF THE RE-APPOINTMENT OF MS. LYNN M. MITCHELL
 
RE-ELECTION OF DR. ROBERT E. REYNOLDS AS VICE PRESIDENT AND CHIEF INFORMATION OFFICER
 
RE-ELECTION OF MS. YOKE SAN L. REYNOLDS AS VICE PRESIDENT AND CHIEF FINANCIAL OFFICER
 
ELECTION OF PROFESSORS EMERITI
 
ELECTION OF ASSOCIATE PROFESSORS EMERITI
 
DEATHS
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THE UNIVERSITY OF VIRGINIA'S COLLEGE AT WISE
 
ELECTION
 
SPECIAL SALARY ACTIONS
 
RETIREMENT
 
ELECTION OF PROFESSOR EMERITUS
 
ADDENDUM TO THE OFFICIAL MINUTES OF THE MEETING OF THE BOARD OF VISITORS OF THE UNIVERSITY OF VIRGINIA
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RESOLUTIONS NOT REQUIRING ACTION BY THE FULL BOARD
 
MEDICAL CENTER OPERATING BOARD, FEBRUARY 23, 2006 (ATTACHMENT C)
 
BUILDINGS AND GROUNDS COMMITTEE, APRIL 6, 2006 (ATTACHMENT D)
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ATTACHMENT A UNIVERSITY’S DEBT POLICY
 
University of Virginia Debt Policy
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I. Overview
 
Purpose
 
Overview
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II. Scope and Objectives
 
Purpose
 
Scope
 
Objectives
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III. Oversight
 
Purpose
 
[statement]
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IV. Debt Affordability and Capacity
 
Purpose
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[statement]
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Debt Affordability Measures
 
Debt Burden Percentage
 
Debt Service Coverage Ratio
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Debt Capacity Measures
 
Viability Ratio
 
Debt Capitalization Percentage
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V. Financing Sources
 
Purpose
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[statement]
 
Tax-Exempt Debt
 
Taxable Debt
 
Commercial Paper
 
University-issued vs. State-issued debt
 
Derivative Products
 
Other Financing Sources
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VI. Portfolio Management of Debt
 
Purpose
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[statement]
 
Variable-Rate Debt
 
Refinancing Outstanding Debt
 
Liquidity Requirements
 
Overall Exposure
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VII. Strategic Debt Allocation
 
Purpose
 
[statement]
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VIII. Central Loan Program Management
 
Purpose
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[statement]
 
De-linking External and Internal Debt Structures
 
Blended Interest Rate
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IX. Approval Process
 
Purpose
 
[statement]
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ATTACHMENT B
 
University of Virginia Interest Rate Risk Management Policy
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I. Overview
 
Purpose
 
Overview
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II. Scope and Objectives
 
Purpose
 
Scope
 
Objectives
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III. Oversight
 
Purpose
 
[statement]
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IV. Derivative Use Guidelines
 
Purpose
 
[statement]
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V. Allowable Derivative Instruments
 
Purpose
 
[statement]
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VI. Policy Controls
 
Purpose
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[statement]
 
Operating Controls
 
Exposure Controls
 
Interest Rate Risk Management Policy Appendix A
 
Interest Rate Risk Management Policy Appendix B
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ATTACHMENT C
 
MEDICAL CENTER OPERATING BOARD – FEBRUARY 23, 2006
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CREDENTIALING AND RECREDENTIALING ACTIONS
 
NEW APPOINTMENTS TO THE CLINICAL STAFF
 
REAPPOINTMENTS TO THE CLINICAL STAFF
 
SECONDARY RE-APPOINTMENTS TO THE CLINICAL STAFF
 
STATUS CHANGES TO CLINICAL STAFF
 
RESIGNATIONS FROM THE CLINICAL STAFF
 
PRIVILEGES FOR NEW ALLIED HEALTH PROFESSIONALS
 
RENEWAL OF PRIVILEGES FOR ALLIED HEALTH PROFESSIONALS
 
RESIGNATIONS OF ALLIED HEALTH PROFESSIONALS
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ATTACHMENT D
 
BUILDINGS AND GROUNDS COMMITTEE – APRIL 6, 2006 APPROVAL OF SCHEMATIC DESIGN FOR THE SOUTH LAWN PROJECT
 
APPROVAL OF SCHEMATIC DESIGN FOR THE OBSERVATORY HILL RESIDENCE HALL (ALDERMAN ROAD RESIDENCE AREA REPLACEMENT HOUSING – PHASE 1)

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Debt Burden Percentage

This ratio measures the University’s debt service burden as a percentage of total university expenses. The target for this ratio is intended to maintain the University’s long-term operating flexibility to finance existing requirements and new initiatives.

ANNUAL DEBT SERVICE
TOTAL OPERATING EXPENSES

The measure is based on aggregate operating expenses as opposed to operating revenues because expenses typically are more stable (e.g., revenues may be subject to one-time operating gifts, investment return fluctuations, variability of Commonwealth funding, etc.) and better reflect the operating base of the University. This ratio is adjusted to reflect any non-amortizing or non-traditional debt structures that could result in significant single year fluctuations including the effect of debt refundings.

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