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University of Virginia Library

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

NAMINGS AND PROFESSORSHIPS

REPORT BY THE PRESIDENT

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

FACULTY PERSONNEL ACTIONS

THE UNIVERSITY OF VIRGINIA'S COLLEGE AT WISE

ADDENDUM TO THE OFFICIAL MINUTES OF THE MEETING OF THE BOARD OF VISITORS OF THE UNIVERSITY OF VIRGINIA

RESOLUTIONS NOT REQUIRING ACTION BY THE FULL BOARD

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ATTACHMENT A UNIVERSITY’S DEBT POLICY

University of Virginia Debt Policy

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I. Overview

II. Scope and Objectives

IV. Debt Affordability and Capacity

V. Financing Sources

VI. Portfolio Management of Debt

VII. Strategic Debt Allocation

VIII. Central Loan Program Management

IX. Approval Process

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I. Overview

Purpose

1. Articulate the role of the University’s Debt Policy within the strategic planning process.

University’s Mission

Strategic Plan

Capital Plan/6-Year Plans

Debt Policy

Overview

In support of its mission, the University of Virginia maintains a long-term strategic plan. The strategic plan establishes University-wide priorities as well as University-wide and divisional programmatic objectives. The University develops a capital plan to support these priorities and objectives.

The University’s use of debt plays a critical role in ensuring adequate funding for the capital plan as well as providing a cost-effective source of funding for other purposes. By linking the objectives of its Debt Policy to its strategic objectives, the University ultimately increases the likelihood of achieving its mission. The Debt Policy is intended to be a “living” document that will evolve over time to meet the changing needs of the University.

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