UNIVERSITY OF THE VIRGIN ISLANDS

BUDGET RESOLUTION

FISCAL YEAR 2005-2006



Authorizing the FY 2006 appropriation request for operating, debt service and other

mandated programs.



WHEREAS, the sustainable budget plan was presented to the Board at its Summer 2002

meeting, and



WHEREAS, the University received communication dated January 28, 2005 from the

Office of Management and Budget (OMB) of the Government wherein OMB was issuing

the Fiscal Year 2006 Budget Call. OMB advised the University of its General Fund

Expenditure Ceiling of $27,598,070, based on projected revenues for Fiscal Year 2006

for the Government of the Virgin Islands, and



WHEREAS, the Virgin Islands Government appropriation to the University for FY 2005

was as follows:



Regular Operating Appropriation....,..........:.0ceeeeeeeeeeeeeues $23,217,126

Diet BEtVIGe AOTODTIANION..................osessesseccsssnensooonstenssenssansnasons 3,192,205

Wet eat ee Tr ANON gos ce oss ca oo ss 550 cs sci so occisesscdceucecccouotwoneeneveeeneeneesteceroceee 184,243

I IN oiigeicce.0s00.saadossssencounssysuerevoepeean ee uenal 37,773

SR i ssssrsisarcisss....-0-eseesssensereseusiydeinselaeeaennanpemreern 300,000

UPS cePeSeted Gs AECL ED 055s cs cq cs...--sneseiencenncsdnsdoaeeasetipagiannenentameeateo! 176,723

Valedictorian and Salutatorian Scholarships ............::.cccesccesseseeseeeees 240,000

PUTAS CIA) WSIS, ..........0cccsccanssercesessrsnvesceeslteatinscaracsanen 250,000

Tes an aaa Bas cas cia sivstivoiaceese...00.cceselsovcsbigds aps OMG ge $27,598,070



WHEREAS, that level of appropriation enabled the University to fund the following:



(a) The cost to provide legislatively mandated programs for veterans, senior

citizens, the National Guard, valedictorians, salutatorians, academic and

cultural awards endowments and the SBDC local match; and



WHEREAS, a modest provision of $1,108,538 to offset costs for more pressing

equipment replacement needs and incidents of plant deterioration which have remained

unaddressed for the past several years.



NOW THEREFORE BE IT RESOLVED AS FOLLOWS:



Section 1. That the University is authorized to request the sum of $24,668,879 in its

FY 2006 appropriation to cover recommended general salary and

inflationary adjustments for operations.

FY 2006 Budget Resolution



Page 2 of 2



Section 2.



Section 3.



Section 4.



That for the purpose of financing the operations of the University, meeting

debt service requirements, plant and equipment renewals and

replacements, funding Legislatively Mandated Programs, and providing

for other purposes and requirements, the President and the Vice President

for Administration and Finance are authorized to prepare, and present for

Legislative consideration the following appropriation request:



Regular Operating Appropriation .0...........ccseesseessseeeeeeeeeseeees $24,668,879

Tee FA CIINION......;.........csesencevesnsssiorensnovvecenbescstecieesses 3,192,205

Plant and Equipment Renewals and Replacements ................0:008 1,108,538

acs cnn cic 0c% «+ 0000ssnacveusaerdcoeunueett tek Meee imiaeinatereure 184,243

Senior Citizens Tuition..................... ssossoseosessnnonsngns tereoiaamstbegs Chardhsiientns Sito

Pe I 1, 5 <cenyanssssscesonsncransebhaedasensia sell guaeeenenreneeunnel 300,000

De, Foose issicsiss......00sscsdeiass savsessanvappvbadonaeeunen aasevube 176,723

Valedictorian and Salutatorian Scholarships .............::ssceseeseesseeeees 240,000

PCRS UE! AAWOKGS.............000cesccesscessrsacconvoancugessestoctsceessaan 250,000

MMi ETS al Gaga saa sn cadtinagioascos+o+sssonsnziecensadyr atunikehaeeni $30,158,361



That this resolution shall be in full force and effect from and after its

adoption.



That this resolution was approved by the Finance and Budget Committee

on February 10, 2005, pursuant to authorization from the Executive

Committee and is forwarded to the Board of Trustees for ratification.



CERTIFICATION



The Undersigned does hereby certify that the foregoing is a true and exact copy of a

resolution of the Board of Trustees of the University of the Virgin Islands adopted at its

meeting on Saturday, March 12, 2005 as recorded in said minutes.



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