University of Houston System

The committee reviewed an endowment performance update provided by Cambridge Associates. Key discussions included efforts to improve style-basis by incorporating large cap growth managers, strategies for identifying qualified minority managers, and plans for building the U.S. Equity position. The committee discussed specific asset allocations, including a reduction in exposure to Fayez Sarofim, and considered recommendations for future interviews with potential investment managers, including Smith Asset Management, Wellington Management Company, and Absolute Plus Management. Additionally, the committee reviewed upcoming venture capital and private equity opportunities.

The committee reviewed the institutional compliance status report and the internal audit briefing booklet, which included internal audit reports, special projects, and status updates on construction contracts. Discussions addressed the follow-up on outstanding audit action items, including continuity of operations planning, and reviewed annual audits regarding travel, entertainment, and procurement. The meeting also covered the annual fraud prevention and awareness report, identity theft prevention program, and ethics and conflict of interest policies. Additionally, an overview of the system's anonymous reporting mechanism and the summary of fraud and non-compliance reports for the fiscal year were presented, followed by an executive session.

The committee addressed several administrative and financial items, including the reappointment of members to the Systemwide Art Acquisition Committee and the approval of construction at the Scott Street campus intersection. Financial approvals covered an amendment to the University of Houston-Victoria banking resolution, the write-off of obsolete equipment and inventory for fiscal year 2002, and the write-off of over $1.5 million in accounts and notes receivables. Additionally, the committee appointed new endowment investment managers, authorized a purchase requisition for continued participation in the Public Broadcasting Service, and approved the placement of KUHT and KUHF logos on the Center for Public Broadcasting microwave tower. An update regarding the implementation of the PeopleSoft project was also provided for informational purposes.

The Board meeting included a presentation from the Faculty Senate President on strategic priorities. Several committee reports were reviewed and approved, covering topics such as endowment fund investment policies, faculty promotions, emeriti appointments, the establishment of a Bachelor of Science in Data Science, and various construction and contract delegations for the university system. Additionally, the Board recognized the Gateway Course Redesign project with an academic excellence award, reviewed the University of Houston System's strategic framework and progress cards, and received the Chancellor's report highlighting achievements across the system's institutions. An executive session was held to discuss pre-litigation and litigation status, and public comments regarding faculty workload were noted.

The committee reviewed and approved a change in project scope for the University of Houston-Victoria Jaguar Hall, which involved reducing square footage and revising the project budget. Additionally, the committee received informational reports regarding the President's Blue Ribbon Task Force on Safety and Security, including crime comparison data and planned security initiatives, as well as a status report on major capital projects that covered space utilization efficiency standards, HEAF funding, and tuition revenue bond debt.