Addendum #4





Report of meeting held December 15, 2006




Mr. David Wetzel from Fund Evaluation Group updated the committee on our investment performance for the quarter ended September 30th and where we were at through November.  Mr. Wetzel also made a presentation on FEG Advisors program




Mr. Riipi reviewed internal audits on the Bookstore inventory and Athletic Camps with the committee.  The committee approved closing the two audits.


As a follow-up to the October meeting the committee discussed the liability of the Board and the University as it relates to its oversight of Charter Schools.  Dr. Roy presented a report prepared by Mr. Jim Bradley the University’s Risk Manager on the University’s liability insurance coverage related to Charter Schools.  At a future meeting there will be a presentation on the role of the University in supervising Charter Schools based on the statues and case law.  The report was for information and no action was necessary.


Mr. Leach reviewed with the committee the status of the General Fund budget as of November 30th and financial indicators as of December.  The report was for information and no action was necessary.


Dr. Roy discussed the alternatives for financing the Van Antwerp and Hunt Hall renovations and why the Board was being requested to approve a declaration of official intent to reimburse the University for these projects from the proceeds of future tax-exempt debt obligation.  He also updated the committee on progress on the Combined Heat and Power Cogeneration Project.  The committee recommends approval of the Declaration of Official Intent resolution that is included in the formals.


Dr. Roy reported on the lease of space to Marquette General Hospital in the University Center and the hiring of a consultant to review the Bookstore operation.  He also presented the recommendation renaming two dining venues on campus.  The committee supports the recommendation on renaming and recommends approval.  A copy of the recommendation is in the formals.