Florida International University

The Board meeting included a moment of silence for September 11, 2001, and a discussion regarding budget reduction strategies, including the formation of a Budget Stabilization Task Force and the commitment to College of Medicine accreditation. Reports were provided on Foundation investments and fundraising, as well as an update on the Fall semester start, new faculty hiring, student scholarship achievements, and a significant donation for the College of Medicine. The Board reviewed committee status reports and addressed protocol regarding communication between Trustees and University staff. Additionally, an amendment to the Tuition Waiver Program Policy was adopted, and various consent agenda items, including investment policy allocations and human resource policies, were approved.

The Committee reviewed several action items, including the proposed 2008-2009 University Operating Budget, the University Investment Policy Statement, and the 2008-09 Capital Improvement Fee Trust Fund Legislative Budget Request. Discussions also covered the Athletics Finance Corporation line of credit for stadium construction needs. Additionally, the committee received various reports regarding internal audits, sponsored research, university operations, and foundations, as well as an update on the university's budget in light of state budget shortfalls.

The committee meeting addressed several key topics related to athletics. Discussions included a report on the performance and academic achievements of student-athletes, an update on the university's commitment to NCAA compliance, and the introduction of new compliance personnel. The committee reviewed the administrative reporting structure for athletics compliance to ensure institutional integrity. Furthermore, an update was provided on the Student Athlete Academic Center regarding its academic support programs, graduation success initiatives, and resources for student-athletes. A request was also made for an executive summary comparing long-term graduation rates by sport program against benchmark institutions.

The Committee reviewed the University Transition Plan, which outlines the implementation of new financial and payroll systems including PeopleSoft modules for general ledger, purchasing, accounts payable, and asset management. The transition process includes specific milestones, testing methodologies, and training plans to ensure internal controls and compliance. Additionally, the Committee discussed amendments to the University Traffic and Parking Rule to increase various decal fees, establish new student hang-tag options, and revise parking fines, and reviewed the 2003-04 Fee Waiver Allocation, admissions fees, legislative budget requests, and infrastructure funding.

The committee reviewed university policies regarding donative and honorary naming opportunities, specifically ensuring compliance with Florida Board of Governors Regulation 9.005. Discussions focused on the university's strategic fundraising goals, the impact of declining public investment, and the necessity of keeping education affordable. The committee voted to recommend that the Board of Trustees create or modify policies on naming facilities and to rename the Modesto A. Maidique campus to FIU.