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UNIVERSITY OF THE VIRGIN ISLANDS

BOARD OF TRUSTEES RESOLUTION

ROOM AND BOARD



Purpose: To approve a rate schedule for room and board fees for fiscal 2004 and fiscal 2005.



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WHEREAS, it is the University’s policy to set room and board fees at levels sufficient to support

associated operations, and



WHEREAS, the costs of operating the food service and residence halls continue to increase, and



WHEREAS, the University has a rate differential for single and double room occupancy which

establishes the single occupancy rate at 1.25 times the room rate for double occupancy; and



WHEREAS, room and board fees have not been increased since Fall 1999, and



WHEREAS. the proposed increase in room and board fees would result in a reduction in the

level of subsidy for residence halls and food services operations;



NOW THEREFORE BE IT RESOLVED BY THE BOARD OF TRUSTEES OF THE

UNIVERSITY:



Section |: That room rates be increased by 10% for fiscal year 2003-2004.



Current Proposed



Occupancy Rate Fall 2003

Room Charge Per Year Double $2,000 $2,200

Room Charge Per Year Single $2,500 $2,750



Section 2: That board rates be increased by 20.4% for fiscal year 2003-2004 and by an additional

20.1% for fiscal year 2004-2005. The increased board rates would not increase the level of

subsidy beyond fiscal 2002-2003 levels.



Current Proposed Proposed

Fall 2002 Fall 2003 Fall 2004



Board Charge Per Year, Plan A $3,830 $4,610 $5,540

Board Charge Per Year, Plan B $2,680 $3,230 $3,880

Board Charge Per Year, Plan C $1,916 N/A N/A



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Room and Board Rate Resolution

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June 21, 2003



Section 3: That the foregoing schedule of fees for room and board charges shall be applicable to

both the St. Thomas and St. Croix campuses and become effective in Fall 2003.



Section 4: That the President and the Vice President for Administration and Finance take the

necessary action to implement the above fee schedule for room and board.



Section 5: That this resolution shall be in full force and effect from and after its adoption.



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 and adopted at it meeting on

Saturday, June 2),2003 as recorded in th¢ minutes of said meeting.



OC - 24-03

Date



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