MINUTES OF THE MEETING UNIVERSITY OF HOUSTON SYSTEM BOARD OF REGENTS ADMINISTRATION AND FINANCE COMMITTEE November 1, 2005
| Members Present: | Members Absent: |
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Michael J. Cemo, Chair Calvin W. Stephens, Vice Chair Morrie K. Abramson Dennis D. Golden Raul A. Gonzalez Leroy L. Hermes Morgan Dunn O’Connor Lynden B. Rose Thad “Bo” Smith |
The Administration and Finance Committee of the University of Houston System Board of Regents convened in the Melcher Board Room, Athletics/Alumni Center on Tuesday, November 1, 2005. Noting the presence of a quorum, Chairman Cemo called the meeting to order at 9:17 a.m.
Dr. Rudley presented the following items for approval by the committee:
1. Appointment of Endowment Investment Manager – UH System.
The Administration and Finance Committee received a report from the System’s investment consultant, Cambridge Associates, which identified firm for consideration as an investment manager for the endowment fund. The committee interviewed representatives from the Newlin Capital Partners and requests approval of this firm as a real estate investment manager for the University of Houston System Endowment Fund. Approval is also requested for delegation of authority to the Chancellor to negotiate and execute the contract.
2. Contract Extension with Constellation New Energy – UH System. Approval is requested for Delegation of Authority to the Chancellor to negotiate and execute the necessary procurement documents with Constellation New Energy for an extension to the existing contract upon reaching acceptable terms and conditions. The new contract will cover the period beginning in January 2006, not to exceed one year.
3. Facilities Expansion Agreement, and Lease of Property to the Sugar Land 4B Corporation – UH System. Approval is requested to enter into a Facilities Expansion Agreement and to lease 52 acres of property located near the UH System at Sugar Land campus to the Sugar Land 4B Corporation, which is a non-profit industrial development corporation created and controlled by the City of Sugar Land.
4. Purchase Order for Public Broadcasting Service – University of Houston. Approval is requested to continue KUHT’s 100% participation in the Public Broadcasting Service’s National Program Service, Member Service, and Station Independence Programs for Fiscal Year 2006.
5. State Office of Risk Management Interagency Contracts – UH System. Approval is requested for Interagency Contracts between the University of Houston System components and the State Office of Risk Management (SORM) for Worker’s Compensation and SORM services, as required by state law, for fiscal year 2006.
6. UH System Endowment Fund Statement of Investment Objectives and Policies – UH System. The Administration and Finance Committee received a report from the System’s investment consultant, Cambridge Associates, regarding the System Endowment Fund’s asset allocation targets and ranges. As a result of this report, the Committee is requesting an amendment to the asset allocation targets and ranges within the UH System Endowment Fund Statement of Investment Objectives and Policies. These changes will bring the System’s endowment fund asset allocation targets and ranges in line with peer colleges and universities of similar endowment asset size.
Regent Golden moved approval of the items presented. Regent Abramson seconded the motion which passed unanimously. The committee will present these items to the board for approval at the November 17, 2005 meeting.
The following item was presented for information:
1. Safety and Security Plan – University of Houston. In July 2005, The Bratton Group, LLC was engaged to review the security profile of the University of Houston campus. On August 20, 2005, The Bratton Group delivered The University of Houston Safety and Security Plan of Action to Executive Director of Public Safety and Chief of Police Malcolm C. Davis. The action plan will be presented to the board by representatives of The Bratton Group.
In absence of further business, the Committee adjourned at 10:27 a.m.
All documentation submitted to the Committee in support of the foregoing action items, including but not limited to “Passes” agenda items and supporting documentation presented to the Committee, is incorporated herein and made a part of these minutes for all purposes.
| Others Present: | ||
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G. Jay Gogue Bill Staples John M. Rudley Dona Hamilton Jim Hayes Wayne Beran Mike Emery Don Guyton Dave Irvin Steven Craig Oscar Gutierrez Lucy Limon Darcie Champagne James McShane Marquette D. Hobbs
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Tim Hudson Grover Campbell Donald J. Foss Michael Rierson David Bradley Elaine Charlson Cindy Garza Ed Hugetz Carlos Machado Janis Newman Molly Woods Michelle Sabino Diane Murphy Robert McInerney |
Max Castillo Elwyn C. Lee Arthur Vailas William Andrews David Bell Michelle Dotter Steve Hall Don Smith Jim McShan John Powell Raymond Bartlett José Rangel Malcolm Davis Averill Buchanan |
