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UNIVERSITY OF THE VIRGIN ISLANDS BOARD OF TRUSTEES RESOLUTION SUMMER SCHOOL COMPENSATION Purpose: Resolution ratifying the Executive Committee’s approval of a compensation rate for full-time faculty teaching summer school, that would achieve financial sustainability. WHEREAS, the University Faculty Policy Manual uses the following formula to determine the salary of a faculty member teaching in the summer session [(Number of credits/24) X yearly salary X 90% = summer salary]; and WHEREAS, the formula-based rate determined compensation solely on a faculty member’s salary and made no allowances for projected tuition revenue generation from the summer session; and WHEREAS, consistent with the University’s Strategic Plan, each summer school session is expected to achieve financial sustainability and provide a net revenue gain; and WHEREAS, the direct costs associated with full-time faculty compensation will be supported by the associated tuition revenues generated; and WHEREAS, on June 21, 2003, the Board of Trustees approved a rate of compensation of $1,500 per credit for full-time faculty for the 2003 Summer Session; and WHEREAS, based on the experience of Summer Session 2003 the compensation rate of $1,500 per credit to full-time faculty provides sufficient evidence of financial sustainability; and WHEREAS, on May 24, 2004, the Executive Committee reviewed and approved the matter; 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, WHICH WAS AS FOLLOWS: Section 1: That full-time faculty will be compensated at $1,500 per credit for teaching during summer session regardless of rank or tenure. Section 2: That full-time faculty compensation rate of $1,500 per credit is applicable to a maximum of six (6) credits. Section 3: That Campus Chancellors or other appropriate administrators as determined by the President will implement this and other approved summer school compensation rates to include part-time faculty to ensure financial sustainability. Chancellors shall have the right to cancel any class consisting of less than ten (10) students in undergraduate classes and less than five (5) students in graduate classes. Section 4: That the full-time faculty compensation rate of $1,500 per credit is effective for the 2004 Summer Session and for Summer Sessions thereafter until amended by the Board of Trustees. Section 5: Compensation for classes approved with less than the minimum number of students specified (10 students for undergraduate classes, 5 students for graduate classes), will be on the basis of the following: Undergraduate Graduate Course Course Compensation | Compensation Class Size (per credit) (per credit . $1,350 8 $1,200 7 $1,050 6 $900 5 $750 4 $600 $1,200 3 $450 $900 2 $300 $600 1 $150 $300 Section 6: That the President or his/her designee takes the necessary action to implement the full-time faculty compensation rate of $1,500 for the summer sessions. Section 7: 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 adopted at its meeting on June 19, 2004 as recorded in the minutes of said meeting. Chairman of the Board Date Secretary of the Board Date