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Hp UNIVERSITY OF THE VIRGIN ISLANDS BOARD OF TRUSTEES RESOLUTION Purpose: To approve a two-year rate schedule for room and board fees for academic years 1998-99 and 1999-2000 WHEREAS, it is the University’s policy to set room and board fees at levels sufficient to support associated operations, and WHEREAS, the cost 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 rate at 1.25 times the room rate for double occupancy; NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE UNIVERSITY: Section 1: That room rates be increased by 10% for academic year 1998-99 and by 10% for academic year 1999-2000. Current Proposed — Proposed Occupancy Rate Fall 1998 Fall 1999 Room Charge Per Year Double 1,652 1,818 2,000 Room Charge Per Year Single 2,066 2,274 2,500 Section 2: That board rates be increased by 5% for academic year 1998-99 and by 5% for academic year 1999-2000. Current Proposed * Proposed — Rate Fall 1998 Fall 1999 Board Charge Per Year 3,474 3,648 3,830 Section 3. 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 1998 and Fall 1999 respectively. Room and Board Rate Resolution Academic Years 1998-99, 1999-2000 Section 4: That the President and the Vice-President for Business and Financial Affairs take the necessary action to implement the above fee schedule for room and board. Section 5. That this resolution shall be in full force and effect from and after its adoption. ERT TION 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 its meeting on Saturday, October 25, 1997 as recorded in the minutes of said meeting. (Qnrbhe Kan W/o f41 Secretary of the Board