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UNIVERSITY OF THE VIRGIN ISLANDS BOARD OF TRUSTEES RESOLUTION TUITION AND FEES Purpose: Part of the University’s Strategic plan is to achieve sustainability by increasing the University’s contribution percent of tuition and fees to total revenue. Therefore, starting in Spring 2004 Semester, the University is seeking approval for a 10% increase in the current rate schedule for tuition and varying percent increases in fees based on type of fee and the University activities that the fee supports. WHEREAS. the University has implemented a Strategic Plan for sustainability as mandated by the Board, and WHEREAS, sustainable development means the University will maximize opportunities for revenue generation and model the highest and best use of the resources generated for the University, and WHEREAS, the University is committed to maintaining affordable tuition rates in order to encourage the highest possible access to higher education by residents of the Virgin Islands, and WHEREAS, the Board has mandated that the rates charged to full-time and part-time undergraduate residents of the Virgin Islands should be substantially equivalent based on a credit load of 15 credits, and WHEREAS. the Board has approved a rate differential of 3 times the undergraduate resident rate for undergraduate non-resident students, a rate differential of 2.5 times the undergraduate resident rate for graduate resident students, and a rate differential of 2 times the graduate resident rate for non- resident graduates, and WHEREAS, tuition rates have historically been set at levels which would result in a target contribution to total general operating revenues of between 17.5% and 20.0%, and WHEREAS. the Board of Trustees has supported a policy of modest annual increases in fees while keeping tuition rates affordable and competitive, and WHEREAS. the last Board approved increase to tuition was implemented in Fall Semester 1999, and WHEREAS, some categories of miscellaneous fees have not been increased in over two decades, and WHEREAS, the proposed increase in tuition rates and miscellaneous fees would result in a revenue contribution of 19% to 22% of total operating revenues, and WHEREAS, the proposed tuition rate increase will maintain the University’s competitive price advantage over those institutions with which UVI competes most for students; Tuition and Fees Rate Resolution NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY: Section 1: That the Board of Trustees of the University of the Virgin Islands hereby authorizes and approves, effective with the Spring semester 2004, a rate increase of 10% in the base undergraduate resident per credit rate of $91 now in effect, together with the resulting rate increases in other fee categories based on the formulas for rate calculation established by policy: Part-time Undergraduate Resident ............ccc:ccseseeseeneereneetsessessseserasenseeaeensennees $100 per credit Full-time Undergraduate Residents ....................cssssesssnesessereessseesersenscseeseseneenses $ 3,000 per year Mya EERE Re ee Ee cae assoc Fa uta caged os pons -----nonncvoninad pubinteonncendsronsnaiadenceesneph $ 250 per credit Part-time Undergraduate Non-Resident ...........cccssssssesecereesesssessessensseseeseensees $ 300 per credit Full-time Undergraduate Non-Residents. .............scsseeeeeeeeenceneeneeenes $ 9,000 per year Creed ietae IN Hi IGG occa cocc ios snvshnosevvensa~---<+suvneasaapsepanasccaceunattnavaupWenboveteoxene $ 500 per credit Section 2. The Board of Trustees of the University of the Virgin islands hereby authorizes and approves, effective with the Spring semester 2004, varying increases in university fees charged to students in accordance with the attached schedule. These increases will be based on the activities the fee supports, inflationary increases and comparative fees at competitive institutions of the University. Section 3. That the Board of Trustees of the University of the Virgin Islands authorizes the President and Vice-President for Administration and Finance Affairs to take the necessary action to implement the foregoing schedules of tuition and fees. Section 4. That this resolution shall be in full force and effect from and after its adoption. 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 and adopted at its meeting on Saturday, June 21, 2003 as recorded in the minutes of said meeting. tilde CG- 24-05 F Secretary of theBoerd Date