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UNIVERSITY OF THE VIRGIN ISLANDS BOARD OF TRUSTEES RESOLUTION Purpose: (1) To approve the Summer School Program as a Profit Center for the University of the Virgin Islands and (2) to approve a summer compensation plan for full-time faculty based on fixed levels determined annually by market forces and not prorated against faculty annual salary. Whereas, the UVI 2000 - 2005 Strategic Plan: a plan for the future specifically assumes no significant increase in government appropriations to the University and a possible decrease, and also assumes that the University will develop a diversified financial base that balances operating funding needs against long-term financial requirements for Sustainable growth, and Whereas, the Board of Trustees has tasked the Administration with reducing its reliance on government appropriations to fund basic operating expenditures, and Whereas, the Summer School Program is an attractive and desirable aspect of University service but is not essential to the basic operations of the University, and Whereas, compensation for classes taught by full-time faculty in the Summer School Program falls outside of the contractual obligations to faculty, and Whereas, on January 23, 2004 this proposal was presented by the President to the Committee on Academic and Student Affairs and received their unanimous endorsement: Now Therefore Be It Resolved that the Board of Trustees approves: i Summer School will henceforth be regarded as a profit center for the University, and ze Compensation for Summer School will not be prorated against full-time faculty annual salary, but will be a separate contract with compensation levels determined annually by market forces. CERTIFICATION The undersignéd does hereby certify that the foregoing is a true and exact copy of the resolution of thé Board of Trustees of the University of the Virgin Islands adopted at sits meeting on February 21, 2004 and recorded in the minutes of said meeting. This policy effective mer School 2004. ecretary of the Boar” J Date RESOLUTION TO DELETE FULL TIME FACULTY COMPENSATION FOR SUMMER INSTRUCTION FROM THE FACULTY POLICY MANUAL Upon motion duly made and seconded, the following was adopted by the Board of Trustees of the University of the Virgin Islands: WHEREAS the Government of the Virgin Islands has announced a list of austerity measures to control spending in order to meet a cash flow challenge; and WHEREAS the University of the Virgin Islands receives a substantial portion of its operating revenues from the local Government; and WHEREAS in order to function with a reduced cash flow the University has begun a two-phased plan of spending controls in order to meet non-discretionary expenditures; and WHEREAS in the UVI plan to meet this challenge, revenue targets have been identified for programs, one such program being the 2003 Summer School Program; and WHEREAS over the past 3 years the UVI Summer School Program has operated either at a small net revenue or at a deficit; and WHEREAS the University is unable to absorb a deficit from the 2003 summer school but rather the program must meet a revenue target in accordance with the University’s two- phase plan; and WHEREAS the administration is developing a new compensation plan for summer instruction by full-time faculty which will not be completed in time for the 2003 summer session; NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES TO RATIFY THE DECISION OF THE EXECUTIVE COMMITTEE AS FOLLOWS: The topic of summer school compensation for faculty shall be deleted from the Faculty Policy Manual effective April 2003 to allow the administration to develop a new plan. The administration shall devise an interim compensation plan for summer 2003 for full- time faculty instruction. The new compensation plan once developed by the administration in consultation with the faculty and approved by the Board of Trustees shall become an appendix item to the Manual, as is the compensation schedule for the university personnel. Adopted: 7 Signed: Secretary of the Board