Minutes of a Regular Meeting, June 22-23, 2004 - Digital Collections

June 22-23, 2004 29148libraries have included a ten-year matching grant program from the KerrFoundation endowment, a million dollar anonymous donation, a $1.25 millionendowment from Michael F. Price, the Peggy Helmerich Library EnrichmentFund given by Mr. & Mrs. Walter Helmerich of Tulsa, a gift of 2,000 rare andhistoric Bibles dating back to 1492 from Bob Burke, a new collection of rarebooks including an original copy of A Christmas Carol was started this yearby John and Mary Nichols of Oklahoma City, and the libraries have a rarepartnership with the athletic department in a million dollar endowment. ThePresident then thanked President Ross and Cameron for their hospitality andChairman Bentley for hosting us in his home community.FISCAL YEAR 2005 BUDGETThe FY2005 operating budget for The University of Oklahoma of $1.066 billion ispresented for consideration and approval by the Board of Regents. The budget is comprised of$571 million for the Norman campus and $495 million for the Health Sciences Center.Norman CampusThe new budget, if adopted by the Board, sets priorities which reflect thoserecommended by the Budget Council of the University. Faculty promotions are funded. TheUniversity has continued to modestly increase funding for academic areas and projects.The budget for next year will provide funds for a 5% compensation increase forfaculty and staff, with a minimum of $1,000 for lower-paid University employees, on theNorman campus beginning October 1. It is recommended that the increase be implemented with2.5% provided across the board and 2.5% provided based on merit. Graduate assistants will alsoreceive the raises.The College of Law is also recommending to the Board of Regents a 5%compensation increase for faculty and staff beginning October 1.Health Sciences CenterThe Health Sciences Center received a modest increase in state appropriations thatresulted in $1.1 million in new funding. This $1.1 million combined with $2.5 million in tuitionand fee increases will allow the Health Sciences Center to cover the increased cost of utilitiesand fringe benefits, as well as fund faculty promotions, and the George Lynn Cross and DavidRoss Boyd distinguished professorships. In addition, the budget for next year will provide fundsfor a 3% average, merit-based compensation increase for most employees on July 1.President Boren recommended approval of the operating budget for fiscal year 2005as presented, including approval of academic promotions.Regent Stuart moved approval of the recommendation. The following voted yes onthe motion: Regents Everest, Clark, Stuart, Weitzenhoffer and Wade. The Chair declared themotion unanimously approved.TUITION AND MANDATORY FEE RATES FOR FY 2005House Bill No. 1748 amended 70 O.S. 2001, Section 3218.8, authorizes theOklahoma State Regents for Higher Education to establish resident tuition rates, nonresident