Resolution of the Board of Trustees of the University of the Virgin Islands Approving Establishment of A Deferred Tuition Payment Plan Reinstatement Fee Effective Fall 2011 WHEREAS, the University has implemented Vision 2012 Strategic Plan for sustainability as approved by the Board of Trustees, and WHEREAS, each semester approximately 15%-20% of students enrolled in the deferred tuition payment plan with Tuition Management Systems (TMS) default on their payments, and WHEREAS, a reinstatement fee of $100 is proposed to offset the administrative costs associated with reinstating outstanding balances on student accounts and collection of accounts receivables, and WHEREAS, the proposed new fee will not adversely impact the University’s competitive price advantage over those institutions with which UVI competes most for students. NOW THEREFORE BE IT RESOLVED: Section 1. That the Board of Trustees of the University of the Virgin Islands hereby authorizes and approves, effective with the Fall Semester 2011, the establishment of the following fee: Fee Current FY10-11 Proposed (Effective FY11-12) Deferred Tuition Payment Plan Reinstatement Fee $0.00 $100.00 Section 2. That the Board of Trustees of the University of the Virgin Islands authorizes the President and Vice-President for Administration and Finance Affairs to take the necessary action to establish the reinstatement fee for students who have defaulted on their deferred tuition plan. Section 3. That this resolution shall be in full force and effect from and after its adoption. CERTIFICATION The Undersigned do hereby certify that the foregoing is a true and exact copy of a resolution approved by the Board of Trustees of the University of the Virgin Islands at a meeting on October 30, 2010 as recorded in the minutes of that meeting. October 30, 2010 ___________________________________ ________________________ Secretary of the Board Date