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Board approves budget, selects leadership for next year |
| By
Tobin J. Klinger |
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Jun 23, 2008
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The fiscal year 2009 budget unanimously was approved last week, as the merged University of Toledo Board of Trustees brought its second year to a close.
According to Dr. Scott Scarborough, senior vice president for finance and administration, the $743 million operating budget includes some $13.1 million in reallocations to fund strategic objectives.
“This budget has been reviewed and vetted by several important constituent groups, including the University’s standing Finance and Strategy Committee and the University’s Strategic Planning Steering Committee,” Scarborough said.
In other action, the Board’s nominating committee brought forward a slate of candidates for next year's trustee leadership — including Richard Stansley for a third term as chair — for approval. The nomination unanimously was approved, and the Board voted to formally waive a bylaw that prevents trustees from serving as chair for more than two years.
Olivia Summons was named vice chair, and Judge Richard McQuade was named secretary.
The Board also approved:
• Tenure and promotion recommendations for 2008-09;
• The naming of the Nitschke Technology Commercialization Complex, the Dorothy and Ashel Bryan Board Room in the Driscoll Alumni Center, the Tom and Mary Wakefield Head Football Coaches Office in Larimer Hall, the Lyden Family Suite Level Lobby in Savage Hall, the Charles and Nancy Creech Savage Hall Weight Room, the Sullivan Athletic Complex and the Alice Ohlinger Weaver Honors Seminar Room;
• A resolution designating certain administrative officials as the appointing authority;
• $1 million for turf replacement in the Glass Bowl;
• A charter for the Internal Audit Office; and
• A resolution extending authorization for refinancing general receipt bonds.
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