RESOLUTION TO AUTHORIZE — FISCAL YEAR 1997
UNIVERSITY OF THE VIRGIN ISLANDS RESOLUTION TO AUTHORIZE THE FISCAL YEAR 1997-1998 APPROPRIATION REQUEST To authorize submission to the Governor and Legislature of the Virgin Islands for operating, debt service and other purposes, the University's fiscal year 1997-98 appropriation request at the same level approved by the Board for the 1996-97 fiscal year. WHEREAS, the amount appropriated by the Government of the Virgin Islands for the support of the University for fiscal year 1996-97 was $22,530,000, the same amount appropriated since 1994-95, and WHEREAS, the spending ceiling set by the Office of Management and Budget for fiscal 1996-97 was $21,030,000, the same amount authorized for the last two fiscal years, and WHEREAS, for fiscal year 1996-97 the University submitted to the Legislature and the Governor of the Virgin Islands an appropriation request in the amount of $28,904,590 to finance the regular operations of the University, meet debt service requirements, support unfunded capital requirements for hurricane restoration, and provide for the support of other Legislatively man …
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UNIVERSITY OF THE VIRGIN ISLANDS RESOLUTION TO AUTHORIZE THE FISCAL YEAR 1997-1998 APPROPRIATION REQUEST To authorize submission to the Governor and Legislature of the Virgin Islands for operating, debt service and other purposes, the University's fiscal year 1997-98 appropriation request at the same level approved by the Board for the 1996-97 fiscal year. WHEREAS, the amount appropriated by the Government of the Virgin Islands for the support of the University for fiscal year 1996-97 was $22,530,000, the same amount appropriated since 1994-95, and WHEREAS, the spending ceiling set by the Office of Management and Budget for fiscal 1996-97 was $21,030,000, the same amount authorized for the last two fiscal years, and WHEREAS, for fiscal year 1996-97 the University submitted to the Legislature and the Governor of the Virgin Islands an appropriation request in the amount of $28,904,590 to finance the regular operations of the University, meet debt service requirements, support unfunded capital requirements for hurricane restoration, and provide for the support of other Legislatively mandated programs, and WHEREAS, the appropriation increase of $6,374,590 over the existing appropriation of $22,530,000 is to cover the following funding priorities approved by the Finance Committee and reaffirmed by the Board of Trustees: 1. Funding of operating expenditures for the Residence Halls and ancillary facilities on the St. Croix Campus - $1,210,109. 2. Earned merit increases for University employees not awarded for the past several years and a general adjustment for cost of living for both full-time and part-time employees - $2,975,003. 3. Unfreezing of essential positions and pick-up of formerly federally funded positions - $446,464. 4. Increase in debt service expenditures - $143,014. Appropriation Resolution Fiscal Year 1997-1998 CERTIFICATION The undersigned does hereby certify that the foregoing is a true and exact copy of a resolution of the Board of Trustees of the University of the Virgin Islands adopted at its meeting on Saturday, June 14, 1997 as recorded in the minutes of said meeting. Date Secretary of the Board