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UNIVERSITY OF THE VIRGIN ISLANDS OPERATING BUDGET RESOLUTION FISCAL YEAR 2009-2010 Resolution ratifying the Executive Committee’s approval of the Fiscal Year 2009-2010 Operating Budget for the University of the Virgin Islands. WHEREAS, on January 20, 2009, the University Budget Committee voted to recommend to the President’s Cabinet an operating budget of $49,019,463 for Fiscal Year 2009-2010; and WHEREAS, on January 20, 2009 the President’s Cabinet voted to recommend to the Board of Trustees, via the Finance and Budget Committee, an operating budget of $49,019,463 for Fiscal Year 2009-2010; and WHEREAS, on February 4, 2009 the Finance and Budget Committee of the Board of Trustees voted to recommend to the Executive Committee of the Board of Trustees for approval an operating budget of $49,019,463 for Fiscal Year 2009-2010; and WHEREAS, on February 9, 2009, the Executive Committee of the Board of Trustees reviewed and approved the budget in the amount of $49,019,463 for Fiscal Year 2009-2010; and WHEREAS, the Executive Committee hereby submits this resolution to the Board of Trustees for ratification of the action taken by the Committee. NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY TO RATIFY THE DECISION OF THE EXECUTIVE COMMITTEE AS FOLLOWS: A. That, for the purpose of carrying out the operations of the University for the fiscal year, which begins October 1, 2009 and ends September 30, 2010, the operating budget proposed by the Administration, a copy of which is incorporated into this resolution as Exhibit cA", hereby approved. The total projected operating revenues and expenditures in the Fiscal Year 2009-2010 Operating Budget are as follows: i) Total revenues of $49,019,463; and ii) Total expenditures and transfers of $49,019,463. B. That the President and Vice-President for Administration and Finance are authorized to take such actions as are necessary and proper to implement this resolution. 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, March 14, 2009 as recorded in said minutes. —WhareWwr \ 4, 200% Secretary of the Board Date FY 2010 Appropriation Request Resolution Section 1. Section 2. That the University is authorized to request the sum of $34,500,000 in its FY 2010 appropriation to cover salaries, benefits, equipment, supplies, incidental expenses of the University and inflationary adjustments for operations as detailed in Exhibit “A”. That for the purpose of financing the operations of the University, meeting debt service requirements, funding Legislatively Mandated Programs, and providing 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 .........sscsssssesseeeesestensesseseees $30,019,056 Debt Service Appropriation ...........:csseseseeeeseseeeseseeeseeteensnsnsneneaes 3,192,205 SBDC Appropriation .........c:sccccseseeseeseseessseseeensesenensenensnensesenensacnenes 300,000 Veter TRIVIA co cecccsosckcsdcasscones-s0sscoccucviashenssdescdtrscosnseveneesessoumouanune 184,243 Senior Citizens Tuition ............:ccsccesecscesseeneeeseeseeeeneeeesensesseseasenaaeenaas 37,/73 National Guard Tuition ..............:cccccssecsessseseesseeeeeeeeeeseeeseeeeeeeenaeenens 176,723 Valedictorian and Salutatorian Scholarships ............::ssseseseesseeeeeees 240,000 Academic & Cultural Awards..........cccccccsssseeessseeesenreeesenseseeseeeeeeneeens 250,000 Community Engagement and Lifelong Learning ...........-::++ees 100,000 Foie ny an coenarbcas ves Faded so oonsonendvodegpysbenaksaesagaceyyersontaanors $34,500,000 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 Satyrday, March 14,2009 as recorded in said minutes. Secretary of ##éBoard Date