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UNIVERSITY OF THE VIRGIN ISLANDS RESOLUTION OF THE BOARD OF TRUSTEES To Ratify Actions Taken by the Executive Committee of the Board of Trustees of the University of the Virgin Islands (“the Executive Committee”) on behalf of the Board of Trustees (“the Board”) ____________________________________________________________________________ WHEREAS, Article VI, Section 1 (a) of the bylaws of the University of the Virgin Islands (“the University”) states in part, “The Executive Committee may act for the Board between Board meetings, in the event of emergencies requiring Board action;” and WHEREAS, that section of the bylaws further states, “The Executive Committee shall report to the Board at its next meeting on all actions taken by it, and the Board shall ratify or revoke such actions,” and WHEREAS, during a meeting on January 14, 2011, the Executive Committee acted for the Board by adopting a resolution approving the Fiscal Year 2011 Operating Budget for the University of the Virgin Islands, Revision Number Two, which revision reduced the budget of revenues and expenditures of the University in accordance with a reduction of the appropriation for Fiscal Year 2011 enacted by the Legislature of the Virgin Islands; and WHEREAS, during a meeting on March 1, 2011, the Executive Committee acted for the Board as follows: • The Executive Committee adopted a resolution authorizing the University to submit an appropriation request for Fiscal Year 2012 of $33,192,631 for operating expenses, debt service and mandated programs, the deadline for the University’s submission of which appropriation request was March 4, 2011. • The Executive Committee approved the Guiding Principles proposed by the President to be followed by the University in reducing its operating budget for Fiscal Year 2011-2012 in accordance with a reduction of the General Fund Expenditure for the University communicated to the President of the University by the Director of the Office of Management and Budget in a letter dated February 11, 2011. NOW THEREFORE BE IT RESOLVED BY THE BOARD: The actions taken by the Executive Committee during its meeting on January 14 and February 28, 2010, which are detailed above, are hereby ratified. CERTIFICATION The undersigned does hereby certify that the foregoing is a true and exact copy of a resolution approved by the Board of Trustees of the University of the Virgin Islands at a meeting on Saturday, March 12, 2011 as recorded in the minutes of that meeting. March 12, 2011 Secretary of the Board Date