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

Finance and Administration Committee - VI. FY 2012 Revised Operating Budget - Actionmandatory furloughs without pay, reduction of time worked, across-the-boardsalary reductions, and similar salary-related measures during the remainder of FY2012, subject to approval by the Executive and Compensation Committee, thePresident, and the Treasurer, Chief Investment Officer and Interim Chief FinancialOfficer in consultation with the General Counsel and Human Resources.43. Any remaining balance of Unrestricted Net Assets may be considered as a reservefor contingencies to be used for:a) Employing additional staff where enrollments and reorganization requirementswarrant;b) Modifying departmental operating budgets where changing conditions duringthe year require funding adjustments;c) Funding to make salary adjustments for personnel as may be necessary duringthe year in keeping with state and university salary guidelines;d) Improving physical facilities for academic and research departments asopportunities arise;e) Mandated cost increases; andf) State impoundment of funds or appropriations rescission during the budgetyear.A formal Resolution incorporating this recommendation follows the revised budgetdocument.MOTION:That the Resolution on the FY 2012 Revised Operating Budget be adopted.74