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

June 22-23, 2004 29162A copy of the resolution is attached hereto as Exhibit E.President Boren recommended adoption of a new Resolution to Exclude KeyManagement Personnel and Directors.Regent Wade moved approval of the recommendation. The following voted yes onthe motion: Regents Everest, Clark, Stuart, Weitzenhoffer and Wade. The Chair declared themotion unanimously approved.BOOK ACQUISITION PROGRAM FOR UNIVERSITY LIBRARIES - NCIn May 2002 the Board of Regents approved this book acquisition program. Thisrepresents the third of five annual renewal opportunities. Book approval programs identify,using a specified profile, new publications that meet the curriculum needs of academic programs.Newly published materials are automatically sent that fit the carefully crafted profile, saving thecosts of ordering with individual publishers. Further, approval vendors pass on a portion of thesavings they are given by publishers for bulk orders, providing additional savings for individuallibraries. Firm book orders are purchases of specifically selected materials and are in addition tothe approval program. Yankee Book Peddler provides the University with an 18% discount ratefor the approval program and a 16% discount rate on firm book orders.Publications purchased through Yankee Book Peddler cover all subject areas and areavailable to faculty and students from all campuses. Yankee provides over 20,000 books toUniversity Libraries annually.Due to the inflation rate in book publication, the increasingly unfavorable currencyexchange rate with foreign markets and the growing demand for the resources, projectedexpenditures are increasing. Therefore this renewal opportunity is being presented to the Boardfor approval. It is anticipated that, for the same reasons, the next two renewal opportunities willbe brought to the Board.Yankee Book Peddler Actual Projected Projected Projected Projected2002/2003 2003/2004 2004/2005 2005/2006 2006/2007ExpendituresApproval Plan $693,877 $906,783 $961,189 $1,168,000 $1,419,000Firm Orders 309,154 335,385 355,509 432,000 525,000Total $1,003,031 $1,242,168 $1,316,698 $1,600,000 $1,944,000For the original order placement in 2002, Yankee Book Peddler was selected as thelow bidder through the University’s competitive process. Only two companies responded to thatsolicitation. Yankee Book Peddler was rated the higher of the two in every category and offeredthe better discount. Accordingly, a new competitive process was not deemed necessary for thiscurrent renewal opportunity.accounts.Funding has been identified, set aside and is available within University LibrariesPresident Boren recommended the Board of Regents authorize the President or hisdesignee to award purchase orders in an overall amount of $1,316,698 to Yankee Book PeddlerLibrary Services of Contoocook, New Hampshire, the low bidder, for a book approval programand for firm book orders for University Libraries, for the one-year period beginningJuly 1, 2004.