Finance and Administration - Board of Trustees - The University of ...

Finance and Administration Committee - III. Minutes of Last Meeting1stated that if a percentage is used it should be a percentage of expenditures asopposed to revenue because revenues can fluctuate depending on what ishappening, depending on which piece of revenue that is selected – if you tooktotal revenue you could have a major grant come in that could give you a lotof flux. He then expressed that it would be a good thing for the Effectivenessand Efficiency Committee to study and figure out what metric would be bestto use as a comparison from one campus or institute to the other. ChairTalbott asked what are the incentives for each campus regarding theseefficiencies and are they given money back. President DiPietro explained thatthis Committee came out of the economic downturn in state support andappropriations. For a near term approach it was a goal of can you savemoney in order to save programs and people. It was out of necessity that weinitiated this for the entire enterprise. In the future we need to make sure thatwe are studying if we are as effective and efficient as we can be even whentimes get better, it needs to continue. Initially, it was in reaction to adownturn in budget of $112 million over the last three fiscal years thatprompted this to be started three years ago. That was the major impetus andit is not unusual for universities to figure out how we keep doing what wehave been doing with fewer resources so you have to become more effectiveand efficient.XIV.Other Business—Chair Talbott asked for any new business and there wasnone.XV. Adjournment—Chair Talbott adjourned the meeting was adjourned at 4:50p.m. Eastern._______________________________________Charles M. PeccoloTreasurer, Chief Investment Officer andInterim Chief Financial Officer2527