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Resolution of the Board of Trustees of the University of the Virgin Islands Approving Increases to Room and Board Rates Effective Fall 2011 ______________________________________________________________________________ WHEREAS, it is the University’s policy to set room and board fees at levels sufficient to support associated operations, and WHEREAS, the costs of operating the food service and 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 the triple room occupancy rate differential is set at 75% of the double occupancy rate; and WHEREAS, the single room occupancy rate differential of 1.25 times the double occupancy rate requires an adjustment to 1.30 times the double occupancy rate to reflect the bundling of telephone and internet fees implemented in FY08, and WHEREAS, board fees have not been increased since Fall 2004 and room fees have not been increased since Fall 2008, and WHEREAS, the proposed increase in room and board fees would result in a reduction in the level of subsidy for residence halls and food services operations. 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 the adjustment of the single room rate differential from 1.25 times to 1.30 times the double occupancy rate effective with Fall Semester 2011. Section 2: That room rates be increased by 12% for double occupancy and that the single occupancy rate be set at 1.30 times the double occupancy rate effective Fall Semester 2011. Current Proposed Occupancy Fall 2010 Fall 2011 Room Charge Per Year Single $3,220 $3,606 Room Charge Per Year Double $2,477 $2,774 Room Charge Per Year Triple $1,860 $2,084 Section 3: That board rates be increased by 8% for Plan A and Plan B effective Fall Semester 2011. That the commuter meal plan rate be increased by 8% for Commuter Plan A and Plan B effective Fall Semester 2011. Current Proposed Room and Board Rate Increase Fall 2011 Resolution October 30, 2010 Fall 2010 Fall 2011 Board Charge Per Year, Plan A $5,350 $5,780 Board Charge Per Year, Plan B $3,750 $4,050 Commuter Meal Charge Per Year, Plan A $2,440 $2,640 Commuter Meal Charge Per Year, Plan B $1,220 $1,320 Section 4: That the foregoing schedule of fees for room and board charges shall be applicable to both the St. Thomas and St. Croix campuses and become effective in Fall 2011. Section 5: That the President and the Vice President for Administration and Finance take the necessary action to implement the above fee schedules for room and board. Section 6: 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 it meeting on Saturday, October 30, 2010 as recorded in the minutes of said meeting. October 30, 2010 __________________________________________ __________________ Secretary of the Board Date