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Resolution of the Board of Trustees of the University of the Virgin Islands Approving Increases to Room Rates Effective Fall 2008 WHEREAS, it is the University’s policy to set room rates at levels sufficient to support associated operations, and WHEREAS, the costs of operating the residence halls continue to increase, and WHEREAS, the University has a rate differential for single and double room occupancy which establishes the single occupancy rate at 1.25 times the room rate for double occupancy; and WHEREAS, based on the scheduled availability of additional residential units at Faculty East on the St. Thomas campus, the University is proposing the establishment of a triple occupancy rate effective Fall 2008, and WHEREAS, the last Board approved increase to the room rates was implemented in Fall Semester 2004, and WHEREAS, the proposed increase in room rates would result in a reduction in the level of subsidy for residence halls, and WHEREAS, the proposed increase in room rates will maintain the University’s competitive price advantage over those institutions with which UVI competes most for students. NOW THEREFORE BE IT RESOLVED: Section 1. That the Board of Trustees of the University of the Virgin Islands hereby authorizes and approves, effective with the Fall Semester 2008, increases in the following room rates consistent with policy: ‘Income Category _ Current ___ Proposed _ 2007-2008 2008-2009 Room Per Yr. Per Yr. Single Room $ . 25150 $ 2,890 Phone $ 180 $ 180 Internet $ 150 $ 150 Total Single Room Rate _ $ 3,080 $> 3.226 Double Room $2200 $2312 Phone $ 90 $ 90 Internet $ 715 $ IS Total Double Room Rate _$ _ 2,365 $ 2,477 Room Rates Increase Resolution June 14, 2008 Triple Room $ 875 Phone $ 60 Internet $ 50 Total Triple Room Rate $ 985 Section 2. 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 schedule of room rates. Section 3. That this resolution shall be in full force and effect from and after its adoption. CERTIFICATION The Undersigned do 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 June 14, 2008 as recorded in the minutes of that meeting. a). e228 7008 ae Secretary of the Board sigan’ Date Ba fh ghrrat JUNE 26 2008 Chairman of the Board Date