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1 UNIVERSITY OF THE VIRGIN ISLANDS RESOLUTION OF THE BOARD OF TRUSTEES To ratify the 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 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, the last meeting of the Board was on October 29, 2011; and WHEREAS, President David Hall was notified by the Director of the Office of Management and Budget of the Government of the Virgin Islands, in a letter dated February 13, 2012, that “the General Fund Expenditure Ceiling [for the University in Fiscal Year 2012-2013] is set at $28,104,581” and that an appropriation-request for that fiscal year must be submitted not later than March 2, 2012; and WHEREAS, during a meeting on February 22, 2012, the Executive Committee was made aware of this letter and, on the recommendation of the Finance and Budget Committee, the Executive Committee acted on behalf of the Board by adopting a resolution authorizing the University to submit an appropriation- request of $28,104,581 for Fiscal Year 2012-2013 to the Office of Management and Budget of the Government of the Virgin Islands by March 2nd; NOW THEREFORE BE IT RESOLVED BY THE BOARD: The attached resolution, with Exhibit A incorporated therein, which was adopted by the Executive Committee of the Board of Trustees during a meeting on February 22, 2012, is 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 10, 2012 as recorded in the minutes of that meeting. March 10, 2012 Secretary of the Board Date 2 FY 2013 Appropriation Request Resolution P a g e | 2 UNIVERSITY OF THE VIRGIN ISLANDS APPROPRIATION REQUEST RESOLUTION FISCAL YEAR 2012-2013 Authorizing submission of the FY 2013 appropriation-request for operating expenses, debt service and mandated programs. WHEREAS, the Government of Virgin Islands’ appropriation to the University of the Virgin Islands (“the University”) for FY 2011-2012 was as follows: Regular Operating Appropriation ....................................................... $26,412,808 Debt Service Appropriation......................................................................3,992,205 SBDC Appropriation.....................................................................................300,000 Senior Citizens Tuition...................................................................................87,773 Valedictorian and Salutatorian Scholarships...............................................400,966 Community Engagement and Lifelong Learning (CELL)...............................100,000 Green Technology Program.........................................................................200,000 Hotel Management Program.......................................................................100,000 John Brewers Beach Bathroom Maintenance.............................................$15,000 Implementation of Act 7261 (Retirement Incentive)..................................$10,000 Total..................................................................................................... $31,618,752 WHEREAS, that level of appropriation enabled the University to fund the following: (a) The cost of employee-salaries and benefits, equipment, supplies, incidental expenses, and other expenses related to the operations of the University; (b) The cost of servicing the University’s debt for capital projects; (c) The cost to provide legislatively mandated programs for senior citizens, valedictorians, salutatorians, SBDC local match, and CELL; (d) Operating expenses for the Green Technology Program pursuant to Act No. 7222; (e) The implementation of the Hotel Management Program; (f) Maintenance of the bathroom facility at John Brewers Beach; and (g) Implementation of the retirement incentive as per Act 7261. WHEREAS, the Finance and Budget Committee of the Board of Trustees of the University has recommended an appropriation-request of $28,104,581 for FY2012-2013 based on the General Fund Expenditure Ceiling set by the Office of Management and Budget of the Government of the Virgin Islands as communicated by the Director of the Office in a letter dated February 13, 2012. NOW THEREFORE BE IT RESOLVED AS FOLLOWS: Section 1. The University is authorized to request a FY 2012-2013 appropriation of $28,104,581 to cover salaries, benefits, equipment, supplies, incidental expenses of the University for its operations and programs as detailed in Exhibit “A”. Section 2. For the purpose of financing the operations of the University, meeting debt service requirements, funding Legislatively Mandated Programs, and providing 3 FY 2013 Appropriation Request Resolution P a g e | 3 for other purposes, the President and the Vice President for Administration and Finance are authorized to prepare, and present for Legislative consideration, the following appropriation-request: Regular Operating Appropriation ....................................................... $22,908,637 Debt Service Appropriation......................................................................3,992,205 SBDC Appropriation.....................................................................................300,000 Senior Citizens Tuition...................................................................................87,773 Valedictorian and Salutatorian Scholarships...............................................400,966 Community Engagement and Lifelong Learning .........................................100,000 Green Technology Program.........................................................................200,000 Hotel Management Program.......................................................................100,000 John Brewers Beach Bathroom Maintenance.............................................$15,000 Total..................................................................................................... $28,104,581 CERTIFICATION The undersigned does hereby certify that the foregoing is a true and exact copy of a resolution approved by the Executive Committee of the Board of Trustees of the University of the Virgin Islands at a meeting on Wednesday, February 22, 2012 as recorded in the minutes of that meeting. February 22, 2012 Secretary of the Board Date FY 2013 Appropriation Request Resolution P a g e | 4 4 Exhibit A UNIVERSITY OF THE VIRGIN ISLANDS FY2013 PROPOSED APPROPRIATION REQUEST Appropriation Requirements FY2012 REQUEST FY2012 ACTUAL APPROPRIATION - ACT NO. 7312 FY2013 PROPOSED REQUEST VARIANCE (FY2013- FY2012) General Operating Requirements $28,111,687 $26,412,808 $22,908,637 ($3,504,171) Debt Service $3,992,205 $3,992,205 $3,992,205 $0 SBDC Local Matching Requirements $300,000 $300,000 $300,000 $0 Veterans Tuition Requirements $0 $0 $0 $0 Senior Citizens Tuition Requirements $87,773 $87,773 $87,773 $0 National Guard Tuition Requirements $0 $0 $0 $0 Valedictorian & Salutatorian Scholarships $400,966 $400,966 $400,966 $0 Academic & Cultural Awards Endowment $0 $0 $0 $0 Community Engagement and Lifelong Learning $100,000 $100,000 $100,000 $0 Green Technology $200,000 $200,000 $200,000 $0 Hotel Management Program $100,000 $100,000 $0 John Brewers Beach Bathroom Maintenance $15,000 $15,000 $0 Implementation of Act 7261 (Retirement Incentive) $10,000 $0 ($10,000) Total Operating Requirements $33,192,631 $31,618,752 $28,104,581 ($3,514,171) Fiscal Year 2012-2013 Appropriation Request Assumptions 1. The University’s Fiscal Year 2012-2013 appropriation request is $28,104,581 based on the ceiling established by the Director of the Office of Management and Budget of the Government of the Virgin Islands as communicated via letter dated February 13, 2012. 2. The General Operating Requirements amount of $22,908,637 is $3,504,171 less than the amount appropriated in Fiscal Year 2012 due to the reduction in the FY2013 ceiling. 3. The amount for debt service will remain at $3,992,205 as appropriated in Fiscal Year 2012. 5 FY 2013 Appropriation Request Resolution P a g e | 5 4. The matching requirement for SBDC will remain at $300,000 as appropriated in Fiscal Year 2012. 5. The University will use the Veterans Tuition Requirements fund balance for the Veterans Tuition Requirements in Fiscal Year 2013. 6. The Senior Citizens Tuition Requirements of $87,773 will remain as appropriated in Fiscal Year 2012. 7. The University will use the National Guard Tuition Requirements fund balance for the National Guard Tuition Requirements in Fiscal Year 2013. 8. The Valedictorian and Salutatorian Scholarships amount of $400,966 will remain the same as appropriated in Fiscal Year 2012. 9. The University will use the Academic & Cultural Awards Endowment fund balance for the Academic and Cultural awards in Fiscal Year 2013. 10. The Community Engagement and Lifelong Learning amount will remain at $100,000 as appropriated in Fiscal Year 2012. 11. The amount for the Green Technology program will remain at $200,000 as appropriated in Fiscal Year 2012. 12. The amount for the Hotel Management program will remain at $100,000 as appropriated in Fiscal Year 2012. 13. The amount for the maintenance of the John Brewers Beach bathroom will remain at $15,000 as appropriated in Fiscal Year 2012.