University of Virginia Library

ATTACHMENT A
UNIVERSITY OF VIRGINIA
CENTER FOR ADVANCED STUDIES
444 CABELL HALL
CHARLOTTESVILLE, VIRGINIA 22903
Office of the Director
OUTCOME OF MEETING OF THE SPECIAL ADVISORY COMMITTEE
ON THE PRATT FUNDS

05/11/90

   

1. Approved commitment to the School of Medicine:	$ 1,052,000
2. Approved commitment to the College of A. & S.:	1,021,800
Total	$ 2,073,800

3. In the case of each school, the approved commitment exceeds the maximum allocation for the fiscal year, which by decision of the Vice President for Business and Finance would be $1,000,000, or $2,000,000 total for the two schools.[1] The committee recognized that both schools have at present internally-committed, but unspent Pratt Funds available to them. In each case this sum exceeds the amount over $1 million voted for specific projects during this meeting.

The committee, which includes the Dean of Faculty and the Dean of Medicine, therefore voted further thatactual expenditures from funds to be approved by the Board of Visitors inthis round will be held to a total of $2,000,000 during the fiscal year ahead. This means that the amounts in excess of $1,000,000 for each school shown under (1) and (2), above, will be covered by Pratt funds currently committed to the school but not yet spent. The vote in favor of this arrangement was unanimous.

4. The committee voted to request from the Director, Center for Advanced Studies, by the fall of 1990, afull and detailedreport on the status and financial history of the Pratt Fund, the data to be obtained in study of the records and from interviews with those (central administration) financial officers who are in charge of the Fund, together with recommendations for future management and reporting.