Jun 18, 2020 Regular Board Meeting (June 18, 2020)

>> OKAY SO. [OVERLAPPING]

>> I ALSO HAVE AN AMENDMENT TO THE AGENDA AS WELL THAT I'D LIKE TO MAKE.

>> OKAY. JACK KROLL HAS AN AMENDMENT TO THE AGENDA.

DO YOU HAVE A SECOND, JACK?

>> OKAY [INAUDIBLE]

>> REGENT GREGOR, ALL IN FAVOR, SAY AYE?

>> I THINK THAT MOTION CARRIES AS WELL.

SO WE'LL ADD THOSE TWO MOTIONS TO BE DISCUSSED OR READ OR WHATEVER WE'RE GOING TO DO WITH THEM, RIGHT AFTER THE CONSENTED TENDER, ALL RIGHT?

>> SHOULD WE NOT HAVE HEARD WHAT THESE AMENDMENTS WERE, AND WE JUST VOTED ON AMENDINGS TO THE AGENDA WITHOUT KNOWING WHAT WE'RE AMENDING?

>> SUE, YOU'RE RIGHT. LET'S GO BACK.

JOHN WOULD YOU TELL US WHAT? I THINK SO TRUSTING, WE JUST SAID YES, BUT WE CAN GO BACK, SUE. GOOD IDEA.

>> OKAY. YEAH. FOR THE RECORD I THINK THAT'S GREAT.

>> [LAUGHTER] YEAH. I REALLY APPRECIATE THE COURTESY THERE.

I GOT A COUPLE OF WILD IDEAS I WANT TO OFFER TODAY.

>> I DON'T KNOW WHAT I JUST VOTED FOR, IT'S SO WILD. [LAUGHTER]

>> SERIOUSLY. I SENT AN EMAIL YESTERDAY, BUT THIS IS A MOTION I WOULD LIKE TO MAKE TO HAVE THE GOVERNANCE COMMITTEE REVIEW REGENT POLICIES 3 D AND E, [INAUDIBLE] SEARCHES FOR OFFICERS OF THE ADMINISTRATION OF THE UNIVERSITY AND MY PROPOSAL IS TO REFER THAT TO THE GOVERNANCE COMMITTEE, TO REPORT OUT IN SEPTEMBER ON AMENDMENT I'VE BEEN TALKING ABOVE ACTUALLY FOR SEVERAL YEARS AND I WANT TO MAKE SURE WE VOTE ON, AND THAT WOULD BE TO LIMIT THE NUMBER OF UNIVERSITY EMPLOYEES ON THE SEARCH COMMITTEES TO 50 PERCENT, IN ORDER TO ENCOURAGE MORE PARTICIPATION BY ALUMNI AND COMMUNITY LEADERS, BUSINESS PEOPLE, PROFESSIONALS, STUDENTS, ETC.

>> JOHN, WELL BEFORE, CAN I ASK A QUESTION? YOU MENTIONED THE GOVERNANCE COMMITTEE IN SEPTEMBER.

JOHN, IF THE GOVERNANCE COMMITTEE WERE TO MEET, OH, WE ARE GOING TO HAVE A SPECIAL MEETING NEXT WEEK, BUT IF IT'S SEPARATE FROM THAT, IT'S A GOVERNANCE COMMITTEE WERE TO MEET BEFORE SEPTEMBER, ARE YOU OPEN TO HAVING IT HEARD BEFORE THEN OR DO YOU SPECIFICALLY WANT TO WAIT UNTIL THE SEPTEMBER GOVERNANCE COMMITTEE MEETING?

>> WELL, I WANT TO HAVE IT VOTED ON AT THE FULL BOARD MEETING IN SEPTEMBER.

>> OH, GOT IT. UNDERSTOOD.

>> BECAUSE SINCE I'M NOT ON THE GOVERNANCE COMMITTEE, I WOULD LIKE GOVERNANCE COMMITTEE TO DELIBERATE ON MY MOTION OVER THE SUMMER, [OVERLAPPING] AND THEY MAY PUT OUT THEIR RECOMMENDATION BEFORE THE SEPTEMBER BOARD MEETING. [OVERLAPPING]

>> LET'S GO BACK TO STEP ONE.

WE'RE APPROVING THIS AS [NOISE] OR DO WE HAVE TO RE-VOTE ON THAT?

>> SO WE'RE APPROVING IT, [OVERLAPPING] AMENDMENT WAS TO APPROVE IT TO GO BACK TO THEIR GOVERNANCE.

>> WE'RE JUST PUTTING IT ON [OVERLAPPING] YEAH.

>> HOLD ON. WE'RE JUST APPROVING IT TO BE ON THE AGENDA. [OVERLAPPING]

>> GOT IT.

>> TO BE READ. ALL IN FAVOR SAY AYE.

>> JOHN, THANK YOU FOR WANTING TO REFER IT TO THE GOVERNANCE COMMITTEE RATHER THAN JUST TRYING TO VOTE ON THAT TODAY.

>> [OVERLAPPING]

I APPRECIATE THAT PROCESS.

>> WE'LL MOVE ON. RICHARD KROLL, WILL YOU TELL US WHAT YOUR AGENDA ITEM WILL BE?

>> OF COURSE. THANK YOU, CHAIR GALLEGOS.

I'VE BEEN WORKING ON A RESOLUTION AND I'VE SHARED IT WITH ALL MEMBERS OF THE BOARD THROUGHOUT THE COURSE OF THIS WEEK.

IT'S IN RESPONSE TO

[00:10:05]

COMMUNITY MEMBERS WHO DIDN'T [INAUDIBLE] IMPROVING OUR EFFORTS IN DIVERSITY, EQUITY, AND INCLUSION ACROSS OUR SYSTEM.

>> GREAT. NOW THAT YOU KNOW WHAT THAT RESOLUTION IS GOING TO BE.

ALL IN FAVOR, SAY AYE OF ADDING IT TO THE AGENDA.

>> CAN I MAKE A STATEMENT ABOUT THAT BEFORE WE VOTE.

I'D LIKE TO MAKE A STATEMENT ABOUT THAT, CHAIR GALLEGOS.

[OVERLAPPING] YOU'RE SUGGESTING THAT GO THROUGH THE COMMITTEE PROCESS.

YOU WANT TO ADD IT TO THE AGENDA TO VOTE ON A RESOLUTION TODAY; AM I CORRECT?

>> YES, YOU'RE CORRECT.

>> OKAY. SO I'D LIKE TO MAKE JUST A COMMENT ABOUT THAT IF I COULD.

JACK, I APPRECIATE YOU SENT ME A DRAFT OF YOUR RESOLUTION THE OTHER DAY AND YOU AND I TALKED. I'M NOT SURE.

I JUST GOT ANOTHER DRAFT HERE WITHIN THE LAST HOUR AND I HAVEN'T EVEN REALLY HAD TIME TO VET IT TO SEE IF THERE WAS ANY CHANGES FROM THE OTHER DAY, SO I DON'T KNOW.

I WOULD HAVE LIKED TO HAVE KNOWN THAT IF YOU'VE MADE CHANGES FROM THE ORIGINAL ONE I READ.

BUT HOWEVER, IRREGARDLESS, THOSE ARE REALLY SIGNIFICANT POINTS THAT YOU'RE MAKING IN THAT RESOLUTION AND I APPRECIATE THAT.

HOWEVER, I WOULD LIKE TO HAVE HAD MORE TIME TO HAVE THIS GO THROUGH A COMMITTEE PROCESS.

I DON'T MEAN A COMMITTEE MEETING IN A MONTH OR TWO FROM NOW BECAUSE I BELIEVE TIME IS OF THE ESSENCE, AND I THINK IT WOULD HAVE BEEN APPROPRIATE TO CALL SPECIAL COMMITTEE MEETINGS, BOTH WITH UNIVERSITY AFFAIRS AND GOVERNANCE.

IT APPEARS THAT FROM THE SURVEY WE DID ABOUT THE REGION RETREAT, THAT THE REGIONS WOULD LIKE TO ADDRESS THIS ISSUE AT THE RETREAT, AND IT WAS MY HOPE AND EXPECTATION AT THE RETREAT THAT WE WOULD INVITE SOME GUESTS TO COME IN FROM THE UNIVERSITY COMMUNITY TO TALK WITH US ABOUT THE CONCERNS AND EXPERIENCES THAT THEY HAVE ON OUR CAMPUS.

FOR ONE, I THINK THAT ALL NINE OF US HAVE A LOT THAT WE CAN LEARN AS WE SIT AS REGIONS AT THE HIERARCHY AT THE UNIVERSITY.

I DON'T THINK WE REALLY HAVE A FULL UNDERSTANDING OF WHAT GOES ON ON OUR CAMPUSES.

THOSE ARE THE VOICES THAT I WANT TO HEAR FROM.

I BELIEVE THAT THEY NEED TO BE HEARD, THOSE VOICES NEED TO BE HEARD.

I BELIEVE THAT WE HAVE A RESPONSIBILITY, LIKE I SAID IN AN E-MAIL A COUPLE OF WEEKS AGO, TO STOP, BE STILL, AND LISTEN.

WE NEED TO LISTEN TO THESE VOICES.

IT WOULD BE MY HOPE THAT ONCE WE'VE HEARD FROM THE RIGHT PEOPLE WHO CAN ALLOW US THAT OPPORTUNITY TO DEVELOP A DEEPER AND BROADER UNDERSTANDING OF OUR ISSUES ON CAMPUSES, THAT WE COULD THEN DECIDE HOW DO WE MOVE FORWARD AND MAKE SURE THAT WHATEVER RESOLUTION IS BROUGHT FORWARD, THAT WE'VE DONE IT RIGHT.

I DON'T WANT TO JUST DO IT WITHOUT NINE REGIONS BEING ENGAGED AND INVOLVED AFTER HEARING FROM A UNIVERSITY COMMUNITY.

[NOISE] I BELIEVE, JACK, THAT YOU'VE CONSULTED WITH THE DEMOCRATS ON THE BOARD AND HAD TO HAVE THAT INPUT.

IF THIS HAS NOT GONE THROUGH A COMMITTEE PROCESS WERE ALL NINE OF US COULD HAVE BEEN ENGAGED.

I WANT TO BE CLEAR [OVERLAPPING] THAT I BELIEVE THAT THAT SHOULD BE GOING THROUGH A PROCESS.

>> I WILL ASK YOU TO BRING THAT UP WHEN WE GET TO THAT POINT IN THE AGENDA.

I APPRECIATE YOUR [INAUDIBLE].

>> I KNOW WE'LL HEAR IT AGAIN LATER.

ALL [OVERLAPPING] WE'VE APPROVED TWO RESOLUTIONS TO BE ON TODAY'S AGENDA.

WE VOTED ON EACH ONE OF THEM.

NOW WHAT I'D LIKE TO DO IS VOTE ON APPROVING THE ENTIRE AGENDA FOR TODAY'S MEETING, INCLUDING THOSE TWO NEW RESOLUTIONS THAT WERE ADDED.

ALL IN FAVOR OF APPROVING TODAY'S AGENDA, PLEASE SAY AYE.

>> NO. I WANT IT TO GO THROUGH THE COMMITTEE PROCESS.

>> CLOSED.?

>> YOU'LL HAVE A CHANCE TO SAY THAT.

ALL WE'VE DONE IS JUST TO PROVE IT.

WE'RE MOVING ON WITH THE CHAIR'S REPORT.

VERY BRIEF TODAY.

REGION CANDIDATES WHO CALLED AND SAID THEY WOULD BE ON THE MEETING, WE'D LIKE TO WELCOME YOU AND THANK YOU FOR YOUR CONTINUED INTEREST, AND YOU'RE GETTING CLOSE TO YOUR PRIMARY.

I DON'T KNOW THAT ALL OF YOU HAVE A PRIMARY, BUT IT'S GETTING EXCITING AND THEN IT WON'T BE TOO LONG BEFORE NOVEMBER ROLLS ALONG.

[00:15:02]

AGAIN, WHOEVER IS VICTORIOUS, THIS BOARD AND THE PRESIDENT WILL LOOK FORWARD TO WORKING WITH YOU.

WE HAVE DAVID [INAUDIBLE] OF DISTRICT 2, WELCOME, DAVID.

KELLEY RENESANE, DISTRICT 2, HELEN HARVARD, DISTRICT 2, AND DICK MURPHY, DISTRICT 2.

I THINK ALL OF YOU ARE IN ATTENDANCE.

IN DISTRICT 6, WE HAVE ALANA SPIEGEL, PRISCILLA RON, AND RICHARD MARIE.

WELCOME TO ALL THREE OF YOU AND GOOD LUCK TO ALL OF YOU.

DISTRICT 7, WE HAVE NORBERT CHAVEZ AND NOT ATTENDING IS ROBERT [INAUDIBLE] IN DISTRICT 6.

THANK YOU ALL FOR ATTENDING.

I DON'T KNOW, DAN, IF JOSE [INAUDIBLE] HAS JOINED US OR NOT.

BUT I THINK [OVERLAPPING]

>> I WAS JUST SENDING YOU A NOTE.

HE HAS JOINED US.

>> OKAY. I WOULD LIKE TO WELCOME OUR NEW VICE PRESIDENT, GENERAL COUNSEL, AND SECRETARY OF THE BOARD OF REGIONS, JOSE [INAUDIBLE].

JOSE PADILLA COMES TO US FROM DEPAUL UNIVERSITY IN CHICAGO, WHERE HE SERVED IN A SIMILAR ROLE FOR THE PAST 15 YEARS.

JOSE HAS ADDITIONAL EXPERIENCE WITH GOVERNMENT RELATIONS [INAUDIBLE] KIDS IN HIGHER EDUCATION.

JOSE IS AN ALUMNUS OF THE UNIVERSITY OF MICHIGAN LAW SCHOOL.

[INAUDIBLE] IS ALSO ALUMNUS OF THE UNIVERSITY OF MICHIGAN LAW SCHOOL, AND PRESIDENT KENNEDY EARNED HIS MBA AT U OF M AS WELL.

I HOPE THAT YOU GUYS CAN GIVE SOME ADVICE ON HOW TO BEAT OHIO STATE THIS YEAR.

JOSE STARTS JULY 6TH [OVERLAPPING].

HI, CHANCE, I DIDN'T KNOW YOU WERE THERE. I'M SORRY.

JOSE STARTS JULY SIX, AND WE LOOK FORWARD TO WELCOMING HIM TO COLORADO.

JOSE, WELCOME.

I KNOW YOU JOINED US THIS MORNING FOR EXECUTIVE SESSION, AND WE WELCOME YOU AGAIN FOR OUR GENERAL SESSION AND HOPE WE DON'T DO ANYTHING [INAUDIBLE] TO MAKE YOU CHANGE YOUR MIND.

>> I ALREADY HAVE A U-HAUL BOOKED AND READY, MR. CHAIRMAN.

>> WELL, AGAIN, WELCOME, JOSE, AND GLAD TO HAVE YOU AND GIVING UP YOUR TIME.

THE NEXT ORDER OF BUSINESS IS PRESIDENT'S REPORT, PRESIDENT KENNEDY.

>> THANK YOU, CHAIRMAN.

THANKS ALL FOR BEING WITH US.

WE FACE A PERIOD IN TIME WHERE WE HAVE THE WORST PANDEMIC SINCE 1918, THE WORST ECONOMIC DOWNTURN SINCE 1929, AND THE WORST CIVIL STRIFE SINCE 1968.

WE APPRECIATE THE LEADERSHIP THAT THE REGIONS ARE PROVIDING DURING THIS PERIOD.

I'M REALLY PROUD OF THE WORK THAT OUR TEAMS ON THE CAMPUSES ARE DOING IN REPLY TO THE PANDEMIC, ESPECIALLY OUR HEALTH CARE PROFESSIONALS, WE APPRECIATE THEIR WORK, BUT OUR WORK IS NOT YET DONE.

ALL THE CAMPUSES HAVE ISSUED OUTLINES FOR HOW WE HOPE TO RETURN IN THE FALL.

WE CONTINUE TO PLAN, RESPOND TO CONCERNS, AND WORK WITH OUR HEALTH PROFESSIONALS, AND THAT WILL BE AN ONGOING PROJECT FOR US THIS SUMMER.

I LOOK FORWARD TO EVERY OPPORTUNITY TO CELEBRATE PROPERLY.

DOROTHY HORRELL NOW AT HER LAST REGIONS MEETING AS THE CHANCELLOR OF CU DENVER.

I REALLY WANT TO WELCOME INCOMING CU DENVER CHANCELLOR, MICHELLE MARKS.

SHE COMES TO US FROM GEORGE MASON, WHERE SHE HAS BEEN LEADING THEIR BACK TO FALL EFFORTS.

SHE IS GOING TO HIT THE GROUND RUNNING WITH A GREAT LEVEL OF EXPERIENCE, A GREAT LEVEL OF ENTHUSIASM.

SHE HAS ALREADY MET WITH THE DEANS IN HER REPORTS AND WE ARE SO ENTHUSIASTIC TO HAVE HER ABOARD.

MICHELLE, DO YOU WANT TO EITHER A WAVE OR SAY HI? WE'RE THRILLED TO HAVE YOU ABOARD AND YOU WILL ALL LOOK FORWARD TO GETTING TO KNOW HER BETTER.

I WOULD ALSO SAY THAT THE TRAGIC DEATH OF GEORGE FLOYD IS A CALL TO MAKE ACTION, TO MAKE MORE PROGRESS ON THE CIVIL RIGHTS STRIFE THAT HAS BEDEVILED THIS NATION FOR A LONG TIME.

I AND THE CHANCELLORS HAVE ALL ISSUED STATEMENTS OF ACTIONS THAT WE ARE MOVING TOWARDS AND YOU WILL BE SEEING THOSE COMING FORWARD.

WE REALIZE THE URGENCY OF THE MOMENT.

WE LOOK FORWARD TO WORKING WITH THE REGIONS IN TERMS OF THE EVER GOING STRUGGLE OF MAKING SURE THAT EVERYBODY ON OUR CAMPUSES HAS A FEELING OF BEING WELCOMED, EVERYBODY HAS AN EQUAL OPPORTUNITY TO SUCCEED.

WE ARE COMMITTED TO DOING SO.

I'D ALSO LIKE TO INTRODUCE THEODORE [INAUDIBLE] COOK, WHO IS HOPEFULLY WITH US AS WELL, WHO HAS JOINED US FROM DARTMOUTH.

SHE HAS HIT THE GROUND RUNNING, SHE'S MAKING GREAT CONTRIBUTIONS.

SHE'LL BE A FABULOUS ADDITION TO THE TEAM.

WE LOOK FORWARD TO WORKING WITH NOT JUST HER, BUT EVERYBODY BECAUSE A DIVERSITY EQUITY INCLUSION IS ALL OF OUR JOBS AND WE NEED TO BE WORKING AT IT EVERY DAY.

WITH THAT, AGAIN, CHAIRMAN,

[00:20:02]

THANKS FOR THE LEADERSHIP OF THE REGIONS.

I LOOK FORWARD TO WORKING WITH THEM ON THIS MEETING IN THE MONTHS AND YEARS AHEAD.

>> THANK YOU, PRESIDENT KENNEDY.

[D. 1:30 p.m. GOVERNANCE LEADERS REPORTS]

OUR NEXT ORDER OF BUSINESS IS THE GOVERNANCE LEADER'S REPORT.

WE'LL START WITH STAFF COUNCIL, CHAIR RYAN [INAUDIBLE].

>> THANK YOU CHAIR GALLEGOS, AND THANK YOU TO OTHER REGIONS, PRESIDENT KENNEDY, AND CHANCELLORS.

I'LL KEEP IT BRIEF.

I'LL COVER JUST THE PORTIONS OF MY CHAIR'S REPORT AND NOT GO INTO SPECIFICS ON THE CAMPUS LEVEL REPORTS, THOUGH THOSE ARE AVAILABLE ON MY WRITTEN UPDATE THAT WAS PROVIDED.

WE'LL START WITH THE REGION CANDIDATE FORUM ON JUNE 24TH, THE UNIVERSITY OF COLORADO STAFF COUNCIL IN PARTNERSHIP WITH THE BOULDER CAMPUS STAFF COUNCIL, IS HOSTING A REGION CANDIDATE FORUM FOR CD2.

ALAN SLINKER AND CHELSIE FLEISCHER, THEY'RE THE CO-CHAIRS OF OUR POLICY AND LEGISLATION COMMITTEE, HAVE BEEN SPEARHEADING THIS EFFORT TO BRING CANDIDATES FOR REGION TO STAFF FACULTY AND STUDENTS SAID CU AND SHARE THEIR PLATFORMS. AN ADDITIONAL CANDIDATE FORUM FOR ALL CANDIDATES REGARDLESS OF CONGRESSIONAL DISTRICT IS BEING PLANNED IN THE FALL.

AN UPDATE ON OUR STUDENT-RUN ORGANIZATION'S TASK FORCE, STAFF COUNCIL, FACULTY COUNCIL, AND THE ICSF MET WITH CHRIS PUCKETT ON APRIL 3RD TO DISCUSS THE SHARED GOVERNANCE TASK FORCE ON STUDENT-RUN ORGANIZATIONS.

WE FOUND THAT TO BE A PRODUCTIVE MEETING AND STAFF COUNCIL FEELS THAT ADMINISTRATION IS MOVING IN THE RIGHT DIRECTION WITH MORE CLEARLY DEFINING THE ROLE AND LIMITATIONS OF MEMBERS OF THE STAFF BODY AND THE FACULTY BODY IN STUDENT-RUN ORGANIZATIONS.

REGARDING THE TUITION BENEFIT IMPROVEMENT INITIATIVE THAT STAFF HAVE BEEN WORKING ON OVER THE PAST SEVERAL YEARS, AS I MENTIONED DURING THE MOST RECENT REPORT FROM STAFF COUNCIL, OUR TUITION BENEFIT IMPROVEMENT EFFORTS HAVE BEEN SUSPENDED.

GIVEN THE ADDED CLARITY OF THE BUDGET CHALLENGES OF CU AND THE ASSOCIATED COSTS WITH MAKING THE REQUESTED CHANGES TO THE TUITION BENEFIT AS OUTLINED BY OUR PREVIOUS REQUESTS, UCSC IS CONTINUING TO SUSPEND THOSE ACTIVITIES AROUND TAB IMPROVEMENTS.

WE'RE COMMITTED TO WORKING WITH ADMINISTRATION IN A CONSTRUCTIVE WAY AND WE'LL RESUME THOSE EFFORTS ONCE WE HAVE A LITTLE BIT MORE OF A STABLE BUDGETS SITUATION.

BUT WE ARE SENSITIVE TO THE ENVIRONMENT WE LIVE IN, AND WE WANT TO ALLOW ADMINISTRATION TO FOCUS TIME AND ENERGIES ON OTHER PRESSING ISSUES.

I WOULD ARGUE THE MOST IMPORTANT PART OF OUR UPDATES, THE CAMPUS TOWN HALLS THAT HAVE BEEN HAPPENING ON ALL OF THE CAMPUSES.

FOR ALL OF OUR ADMINISTRATORS, STAFF ARE INCREASINGLY CONCERNED ABOUT JOB SECURITY AND THEIR LIVELIHOODS DURING THIS PANDEMIC.

SIGNIFICANT NUMBERS OF STAFF HAVE BEEN IMPACTED BY FURLOUGHS AND LAYOFFS, AND MANY MORE WILL BE IMPACTED IN THE NEAR FUTURE.

THESE CONCERNS ARE IN ADDITION TO AT-HOME CHILD CARE RESPONSIBILITIES, THE STRESSORS OF MANAGING WORK-LIFE DURING A CRISIS, AND THE UNCERTAINTY OF NOT KNOWING WHAT TOMORROW HOLDS.

SO AS OUR STAFF LOOKED TO OUR LEADERSHIP TO ASSUAGE FEARS AND INSPIRE HOPE, STAFF COUNCIL APPLAUDS MANY OF OUR CAMPUS LEADERS FOR MAKING THE DECISION TO SPEAK DIRECTLY TO STAFF AND FACULTY ON THEIR CAMPUSES AND ANSWER QUESTIONS FROM A CONCERNED CU COMMUNITY.

PRESIDENT KENNEDY AND HIS OFFICE, THANK YOU FOR MEETING WITH SYSTEM OFFICE STAFF IN A TOWN HALL STYLE TO ANSWER QUESTIONS AND SHARE INFORMATION.

THOSE EFFORTS ARE GREATLY APPRECIATED.

CHANCELLOR DISTEFANO, PROVOST MOORE, AND MEMBERS OF YOUR CABINET, THANK YOU FOR THE TOWN HALL FOR CU BOULDER FACULTY AND STAFF HELD EARLY ON IN THE CRISIS.

CHANCELLOR HORRELL, PROVOST MARIN, AND SENIOR VICE CHANCELLOR OF SAGUENAY, THANK YOU FOR MEETING WITH THE CU DENVER CAMPUS COMMUNITY ON MULTIPLE OCCASIONS IN TOWN HALL STYLE TO ANSWER QUESTIONS OF CU DENVER FACULTY AND STAFF RELATING TO THE BUDGET.

CHANCELLOR REDDY, THANK YOU FOR YOU AND YOUR CABINET FOR MEETING WITH YOUR FACULTY AND STAFF AT COLORADO SPRINGS AND ALSO IN TOWN HALL FORMAT ON A NUMBER OF OCCASIONS.

IT'S MUCH APPRECIATED BY THE STAFF ON YOUR CAMPUS AS WELL.

CHANCELLOR ELLIMAN AND VICE CHANCELLOR THOMAS FLAG, THANK YOU FOR ISSUING NUMEROUS AND REGULAR E-MAIL UPDATES TO THE END SHOOTS CAMPUS COMMUNITY WITH INFORMATION ABOUT RETURN TO WORK, RESEARCH RECONSTITUTION, AND GENERAL COVID-19 UPDATES.

A LAST NOTE ON THIS TO CHANCELLORS AND SENIOR ADMINISTRATORS AS YOU CONTINUE PLANNING FOR COVID RESPONSE ITEMS, I ENCOURAGE YOU TO MAKE EVERY EFFORT TO PROACTIVELY INCLUDE STAFF GOVERNMENTS ON YOUR CAMPUSES IN THE DISCUSSIONS OF MOVING FORWARD.

BUT PROACTIVE DIALOGUE MAY SHED LIGHT ON INNOVATIVE SOLUTIONS THAT MIGHT NOT HAVE BEEN PRESENT BEFORE.

WITH THAT A FEW CLOSING ITEMS, WE ARE STILL PLANNING ON HOLDING OUR STAFF EXCELLENCE AWARD AND PROFESSIONAL DEVELOPMENT DAY SCHEDULED FOR SEPTEMBER 25TH.

WE RECENTLY DID A STRAW POLL OF ALL OF OUR UCSC REPRESENTATIVES

[00:25:04]

TO GAUGE CONCERNS THAT ARE GOING ON ON EACH OF THEIR CAMPUSES.

GENERALLY SPEAKING, THE FOUR MOST IMPORTANT ITEMS FOR REPRESENTATIVES OF STAFF ARE EFFECTIVE PARTNERSHIPS WITH INSTITUTIONAL LEADERS, CU'S BUDGET AND ITS IMPACT ON STAFF, SYSTEM-WIDE POLICY CHANGES, AND SHARED GOVERNANCE INVOLVEMENT IN THE COVID-19 RESPONSE.

WITH THAT I CLOSE MY REPORT AND I'M AVAILABLE FOR QUESTIONS.

>> REGIONS QUESTIONS FOR RYAN.

>> TO ME, I KNOW YOU BROUGHT UP THE TUITION BENEFIT.

WE HAD A RESOLUTION THERE.

I WONDER IF VICE PRESIDENT NESBITT CAN SPEAK TO THE BENEFIT SIDE OF THAT.

>> YES. SO PURSUANT TO THAT, I HAVE BEEN WORKING WITH RYAN AND OTHERS IN TERMS OF LOOKING INTO EXPANSION OF THAT PARTICULAR BENEFIT AND MAKING SOME OTHER MODIFICATIONS.

AS THE CHAIR OF THE UCSC JUST INDICATED, WE HAVE PLACED THAT ON HOLD.

BUT ABSOLUTELY, WE WERE CONTINUING TO MOVE FORWARD.

BUT I FEEL LIKE DURING THIS PARTICULAR TIME, OUR EFFORTS WERE BARELY SPENT TALKING ABOUT SOME OF THE CHANGES, PARTICULARLY AROUND FURLOUGHS, ETC.

>> OTHER QUESTIONS THAT YOU HAVE.

AGAIN, THESE GOVERNANCE REPORTS ARE SOME OF THE MOST IMPORTANT THINGS WE DO AT OUR BOARD MEETINGS AND RYAN, WE'VE REALLY APPRECIATED YOUR LEADERSHIP THIS YEAR AND WE'RE LOOKING FORWARD TO MORE NEXT YEAR.

I THINK YOU KEEP US WELL-INFORMED AND YOU REPRESENT THE STAFF VERY WELL.

SO THANK YOU VERY MUCH.

>> THANK YOU CHAIR GALLEGOS.

>> NEXT IS FACULTY COUNCIL CHAIR JOANNE ADDISON.

>> HELLO. I APOLOGIZE I DON'T HAVE MY VIDEO ON.

I DON'T HAVE A GREAT CONNECTION AT THE MOMENT, SO I'LL HAVE TO KEEP MY VIDEO OFF.

RYAN MENTIONED THE WORK AROUND STUDENT ORGANIZATIONS, AND WE'RE CONFIDENT THAT'S GOING TO BE RESOLVED.

WE CAN MAKE SURE THAT FACULTY AND STAFF ARE APPLYING APPROPRIATE ROLES WHEN IT COMES TO SPONSORING STUDENT ORGANIZATIONS.

MANY OF OUR FACULTY ACROSS THE SYSTEM ATTENDED THE COLORADO FACULTY ADVISORY COMMITTEES RETURN TO CAMPUS FORUM.

I BELIEVE THERE ARE ABOUT 160 FACULTY THERE FROM ACROSS THE STATE.

IF ANYONE IS INTERESTED IN THE ACTUAL SUMMARY OF THAT MEETING, I DO HAVE THAT.

WE'D BE GLAD TO SHARE IT EITHER.

I KNOW MIKE LEITNER ATTENDED. HE HAS THAT TOO.

MANY ISSUES WERE RAISED PARTICULARLY AROUND THE RETURN TO CAMPUS, AND THOSE ARE ISSUES THAT CERTAINLY CU HAS BEEN WORKING ON.

RETURN TO CAMPUS CONTINUES TO BE A CONCERN FOR A VARIETY OF REASONS FOR ALL OF US, AND SO WE CERTAINLY APPRECIATE EVERYONE'S WORK TRYING TO MAKE THIS HAPPEN.

LET'S SEE, WE HAD A MEETING JUST LAST WEEK WITH THE CHAIR AND VICE CHAIR OF THE BOARD OF REGIONS.

SO WE THANK BOTH OF YOU FOR TAKING SOME EXTRA TIME TO MEET WITH US.

TYPICALLY, WE DO HAVE REGIONS ATTEND OUR MEETINGS AND WE SHARE IDEAS.

WE SHARE PRIORITIES AND ISSUES.

SO THIS WAS JUST ONE OF THOSE OPPORTUNITIES TO SHARE PRIORITIES AND ISSUES AND TOUCH BASE IN A WAY THAT WE HAVEN'T BECAUSE OF ALL THE UPHEAVAL.

IN PARTICULAR, WE ARE WORKING ON ISSUES OF CONCERN TO FACULTY WITH THE CHANGE OR ELEVATION OF ODE TO THE SYSTEM LEVEL, AND THAT IS SOMETHING WE'LL WORK ON THROUGHOUT THE SUMMER.

WE THANK SHEANA BULL AND SCOTT CHADWICK AND MIKE LEITNER FOR ALL THE TIME AND EFFORT THEY'RE PUTTING INTO ENGAGING WITH FACULTY ACROSS THE SYSTEM AS WE MAKE THIS CHANGE TO ONLINE EDUCATION ACROSS THE SYSTEM.

WE DEFINITELY WANT TO THANK SYSTEM FOR THEIR ONGOING SUPPORT OF PRIDE FEST.

THIS IS SOMETHING THAT HAS BEEN REALLY IMPORTANT TO FACULTY COUNCILS LGBTQ+ COMMITTEE FOR MANY OF YEARS AND THEY HAD BEEN SHOULDERING THE BURDEN OF THE WORK, AND WE REALLY APPRECIATE THE EFFORT AT THE SYSTEM LEVEL TO PICK UP SOME OF THAT WORK AND CONTINUE TO SPONSOR.

THAT'S A REALLY IMPORTANT EVENT FOR MANY IN OUR COMMUNITY.

WE ALSO APPRECIATE THE WORK AROUND OUR RELATIONSHIP WITH COLORADO CORRECTIONAL INDUSTRIES.

THAT'S NOT SOMETHING THAT FACULTY COUNCIL HAS TAKEN A POSITION ON ASIDE FROM SAYING THIS IS DEFINITELY SOMETHING WE DO HOPE WE SUPPORT IN PARTICULAR THE BLACK STUDENT ALLIANCE AND OTHER CONCERNED STUDENTS, FACULTY, AND STAFF IN TERMS OF UNDERSTANDING OUR RELATIONSHIP AND WHETHER OR NOT THERE ARE WAYS TO IMPROVE IT.

[00:30:03]

SO WITH THAT, I THINK I'LL LEAVE IT THERE.

WE WILL CONTINUE IN MEETINGS THROUGHOUT THE SUMMER, AND I'LL ASK IF THERE ARE ANY QUESTIONS.

>> QUESTIONS, COMMENTS, REGIONS.

>> JOANNE, THIS IS LESLEY SMITH.

I WOULD BE INTERESTED IN SEEING THAT REPORT THAT YOU MENTIONED ABOUT THE FACULTY ACROSS THE STATE.

>> [INAUDIBLE]

>> OTHER QUESTIONS FOR JOANNE?

>> MR. CHAIRMAN, I WOULD JUST LIKE TO THANK JOANNE AND THE FACULTY COUNCIL FOR DOING EXTRA SESSIONS OVER THE SUMMER TO WORK WITH THE ONLINE TEAM.

I APPRECIATE THE CONSTRUCTIVE INPUT THAT THEY'VE BEEN PROVIDING.

WE ALSO APPRECIATE RYAN AND HIS TEAM, THE CONSTRUCTIVE WORK THAT THEY'VE BEEN DOING WITH US DURING THESE CHALLENGING TIMES, SO THANK YOU BOTH VERY MUCH.

>> [NOISE] CAN I ASK A FOLLOW UP ONE? JOANNE, DO YOU FEEL IS IT THE SENSE OF THE FACULTY THAT YOU ALL ARE BEING PROVIDED WITH SUFFICIENT RESOURCES TO ADAPT TO WHAT OUR FALL PLANS CURRENTLY ARE FOR INSTRUCTION AND IF NOT WHAT CAN WE DO TO HELP YOU IN THAT PATH?

>> SO, REGENT KROLL, I WOULD SAY THAT FACULTY HAVE BEEN GIVEN MANY OPPORTUNITIES FOR TRAINING.

THERE'S BEEN A LOT OF SUPPORT THAT PEOPLE ARE RECEIVING ACROSS THE CAMPUS AND IT'S A VERY TOUGH QUESTION.

I APPRECIATE THAT YOU'RE ASKING IT.

WOULD EVERYBODY LOVE TO HAVE MORE SUPPORT? SURE, WE ALL WOULD ALWAYS LOVE TO HAVE MORE SUPPORT, BUT WE UNDERSTAND THE DIFFICULT SITUATION THAT THE ENTIRE SYSTEM IS IN AND THE QUESTIONS THAT PEOPLE ARE ASKING RIGHT NOW ARE ONES THAT I'M SURE YOU'RE ALL FAMILIAR WITH.

THEY'RE CONCERNED ABOUT A SAFE RETURN TO CAMPUS.

THEY'RE CONCERNED ABOUT THEIR RESEARCH AND ACCESS TO THE LABS AND ALL THAT SORT OF THING.

I GUESS I WOULD SAY I APPRECIATE THE QUESTION AND IF YOU ASKED ME FOR A LIST, I'M SURE I COULD FIND A FACULTY WHO WILL GIVE YOU A LIST OF THINGS THAT THEY WANT TO HAVE BUT AT THE SAME TIME, WE ALL RECOGNIZE THE CONSTRAINTS THAT WE'RE FACING AT THE MOMENT.

>> JOANNE, IF YOU COME UP WITH THE LIST WILL YOU HAND DELIVER IT TO REGENT KROLL, PLEASE?

>> I WOULD GLADLY DO THAT BECAUSE THEN MAYBE I CAN PLAY WITH THAT BABY FOR A FEW MINUTES. [LAUGHTER]

>> YES. [LAUGHTER] [INAUDIBLE] FOR CERTAIN.

>> JOANNE, I APPRECIATED BEING INVITED TO YOUR MEETING LAST WEEK.

SOME TOUGH QUESTIONS, I'LL TELL YOU AND AS WE MOVE INTO THE NEXT MONTHS I HOPE THAT YOU WILL ENJOY GETTING TO KNOW AND WORK WITH JOSE [INAUDIBLE].

>> EVEN THOUGH HE IS A SOX FAN, I THINK WE'LL FIGURE OUT HOW TO GET ALONG.

>> [LAUGHTER] GREAT. THANK YOU VERY MUCH.

OUR NEXT REPORT IS FROM ICSF CO-CHAIR, ISAIAH CHAVOUS.

ARE YOU WITH US, ISAIAH?

>> I AM. HELLO, EVERYBODY.

>> HEY.

>> GLAD TO BE HERE. I WILL BE CHAIRING THE ICSF THIS YEAR.

I WAS TOLD THAT THIS MEETING TYPICALLY DOES NOT HAPPEN THIS EARLY FOR THE ICSF CHAIR, SO I HAVE NOT HAD THE OPPORTUNITY TO MEET WITH THE OTHER CAMPUSES YET.

SO I'M GOING TO GIVE YOU AN INTRODUCTION AND SOME GOALS THAT WE'VE SET IN CUSG ON THE CU BOULDER CAMPUS AND JUST GO INTO DETAILS THERE.

I'M ISAIAH, I AM A RISING SENIOR.

I'M STUDYING POLITICAL SCIENCE AND BUSINESS, I AM THE NEWLY ELECTED EXTERNAL STUDENT BODY PRESIDENT FOR CU BOULDER.

SO THE MORE RECENT EVENTS THAT WE'VE BEEN WORKING ON INCLUDE THE WORKING GROUP THAT PRESIDENT KENNEDY HAS PUT TOGETHER IN RESPONSE TO THE CORRECTIONAL FACILITIES CONTRACTS THAT EXIST CURRENTLY BETWEEN THE INSTITUTIONS IN THOSE ENTITIES.

THAT HAS BEEN A FAR CRY FOR HELP, IN ANOTHER WORD, FROM THE STUDENT POPULATION.

AS MUCH AS THIS HAS BEEN ADMINISTERED BY ADMINISTRATION INSIDE OF CU BOULDER, THIS HAS BEEN AN ISSUE THAT HAS BEEN RISING FOR A COUPLE OF YEARS NOW AND I THINK THIS IS AN OPPORTUNITY TO ADDRESS THAT AND THAT IS A UNIFORM FEELING ACROSS ALL OF THE OTHER TRI-EXECUTIVES AS WELL AS MOST OF UPPER ADMINISTRATION THAT I CAN SPEAK TO.

SO THAT'S ONE FEAT THAT WE'RE TRYING TO WORK ON.

WE ARE ALSO ADDRESSING THE, YOU COULD CALL IT THE SOCIAL FABRIC OF CU, IN REGARDS TO GEORGE FLOYD AND THE INEQUITIES THAT ARE BEING FINALLY DISPLAYED ON AND OFF CAMPUSES IN THE COLORADO SYSTEM.

[00:35:02]

WE FELT THAT ADDRESSING GREEK LIFE, BEING THAT IT IS A PRIMARY VESSEL FOR STUDENT ENGAGEMENT TO BE ADDRESSED IN THEIR POLICIES AND NORMS IN ORDER TO ELIMINATE BIAS AND HATE IS A PRIORITY OF OURS.

ALONGSIDE THAT, OUTSIDE OF THE CONVERSATION REGARDING RACIAL INEQUALITY, WE ARE VERY FOCUSED ON CREATING ORGANIC ENGAGEMENT AND ORGANIC LEADERSHIP.

I, FOR ONE, HAVE RECEIVED VERY POSITIVE FEEDBACK FROM STUDENTS THUS FAR AND WE'RE NOT EVEN IN SCHOOL YET, ABOUT ON-CAMPUS LEADERSHIP FROM STUDENTS AND WHAT THAT MEANS TO THEM.

CHANCELLOR DISTEFANO AND I HAD BEEN WORKING VERY CLOSELY TO ACCOMMODATE THOSE REQUESTS AND TO BE CREATIVE BY CREATING DIFFERENT MEDIA OUTLETS, DIFFERENT FORMS OF COMMUNICATION AND ENGAGEMENT BETWEEN STUDENTS, BEING THAT CAMPUS NEXT YEAR IS NOT GOING TO BE THE SAME AS IT ONCE WAS.

I'M VERY EXCITED TO BE WORKING WITH ALL OF THE OTHER CAMPUSES.

I INTEND TO HAVE A UNIFIED GOAL.

I'M NOT SURE THE REALITIES OF THE OTHER CAMPUSES' POSITIONS ON CERTAIN ISSUES.

HOWEVER, WHEN WE DO MEET I INTEND TO FIND SOME COMMON GROUND AND MAKE SUBJECTIVE GOALS OBJECTIVE AND I STATED IN AN INTERVIEW YESTERDAY, WHICH WE'LL BE RELEASING ON THE CU BOULDER OFFICIAL INSTAGRAM PAGE IN THE NEXT COUPLE OF DAYS THAT KIND OF DETAILS WHAT WE'VE BEEN WORKING ON AS WELL, THAT A LOT OF THE ISSUES THAT WE ARE TALKING ABOUT CURRENTLY OFTENTIMES FALL BETWEEN RIGHT AND LEFT.

WHEN I THINK THE OBJECTIVE GOAL SHOULD BE TO BOIL IT DOWN TO RIGHT AND WRONG AND TO ADDRESS THEM THERE.

SO I LOOK FORWARD TO WORKING WITH THE BOARD OF REGENTS, PRESIDENT KENNEDY, AND ALL THE OTHERS. SO THANK YOU VERY MUCH.

>> THANK YOU. REGENTS, QUESTIONS, COMMENTS?

>> ISAIAH, I'D LIKE TO JUST WELCOME YOU IN YOUR NEW ROLE, AND WE'LL LOOK FORWARD TO GETTING TO KNOW YOU BETTER AND TO HEAR FROM YOU THROUGHOUT THE NEXT YEAR AND WE'LL LOOK FORWARD TO GETTING TO MEET YOU IN PERSON.

GOOD LUCK TO YOU IN YOUR NEW LEADERSHIP POSITION.

>> THANK YOU VERY MUCH. I APPRECIATE THAT.

>> YOU BET. [OVERLAPPING].

>> ANYBODY ELSE?

>> ISAIAH, THIS IS TANYA.

WELCOME, I KNOW YOU'VE ALREADY TALKED WITH HEATHER RETZKO, AND OUR TEAM, AND OTHERS.

WE'RE REALLY LOOKING FORWARD TO WORKING WITH YOU AS WE ALWAYS DO WITH ALL OF THE STUDENT LEADERS.

NEXT YEAR WILL BE AN INTERESTING YEAR FOR HIGHER ED SO WE WILL CERTAINLY NEED YOUR HELP.

>> ABSOLUTELY. THANK YOU VERY MUCH.

>> ISAIAH, I THINK THAT YOU'LL PROBABLY HAVE SOME PEOPLE FROM THE REGENTS BOARD REACH OUT TO YOU, I THINK [INAUDIBLE] MIGHT BE THE FIRST ONE THAT DOES.

WE'RE EXCITED ABOUT YOU BEING IN THIS LEADERSHIP POSITION AND SEE HOW WE CAN HELP MAKE YOUR POSITION A LITTLE EASIER IN TERMS OF YOUR REPRESENTATION ACROSS THE CAMPUSES, SO THANKS FOR YOUR TIME AND FOR YOUR LEADERSHIP WITH THIS.

>> THANK YOU VERY MUCH.

>> THANK YOU. [NOISE] OUR NEXT ITEM ON THE AGENDA IS A RESOLUTION OF APPRECIATION FOR LAST YEAR'S ICSF CHAIR, ANNA GORDON NORBY.

[NOISE] REGENT GANAHL, WILL YOU PRESENT YOUR RESOLUTION?

>> YES.

WHEREAS ANNA GORDON NORBY CONSISTENTLY PROVIDED AN IMPORTANT VOICE FOR STUDENTS AT THE UNIVERSITY OF COLORADO AS CHAIR OF THE INNER CAMPUS STUDENT FORUM, ICSF, FOR THE 2019/2020 ACADEMIC YEAR.

WHEREAS ANNA HELPED STREAMLINE ICSF PROCESSES AND PROCEDURES, AND ENSURED THAT EACH OF THE FOUR CAMPUSES HAD THEIR VOICES HEARD BY BOARD OF REGENTS.

WHEREAS ANNA BUILT STRONG RELATIONSHIPS WITH MANY AT CU ANSCHUTS MEDICAL CAMPUS, CREATING PERSONAL RELATIONSHIPS THAT ALLOWED OTHERS TO SHARE IDEAS AND OPINIONS ABOUT THE BEST WAYS TO SERVE STUDENTS.

WHEREAS DURING THE COVID-19 CRISIS, ANNA CONTINUED TO REPRESENT STUDENTS INTERESTS TO THE BOARD OF REGENTS AND CHAMPION THE VOICE OF THE CAMPUSES IN THE NEED FOR TRANSPARENCY IN MANAGING STUDENT FEES DURING THIS TIME.

NOW, THEREFORE, IT BE RESOLVED THAT THE BOARD OF REGENTS OF THE UNIVERSITY OF COLORADO EXPRESSES ITS APPRECIATION TO ANNA GORDON NORBY, FOR HER DEDICATION AND SERVICE TO THE UNIVERSITY OF COLORADO COMMUNITY AND THE STATE OF COLORADO.

FURTHER RESOLVED THAT THE BOARD OF REGIONS EXTENDS ITS BEST WISHES TO ANNA FOR HER CONTINUED SUCCESS IN FUTURE ENDEAVORS.

HEREBY ADOPTED BY THE UNIVERSITY OF COLORADO BOARD OF REGENTS ON JUNE 18TH, 2020.

>> REGENT GANAHL, HAS MOVED THE RESOLUTION. IS THERE A SECOND?

>> SECOND. [NOISE]

>> SECOND THAT.

>> SECOND BY I HEARD REGENT SHARKEY, BUT I THINK THERE WERE SOME OTHERS BEFORE THAT, SO WE HAVE A LOT OF SECONDS ON THAT.

ALL THOSE IN FAVOR, SAY AYE.

[00:40:01]

>> THOSE OPPOSED, SAY NO.

THE RESOLUTION HAS PASSED.

REGENT GANAHL, THANK YOU VERY MUCH FOR READING THAT AND WE'RE GOING TO MOVE NOW TO THE CONSENT AGENDA.

[E. 1:45 p.m. CONSENT AGENDA]

THE NEXT ORDER OF BUSINESS IS APPROVAL OF THE CONSENT AGENDA.

PLEASE NOTE THERE ARE SEVERAL ADDITIONAL ITEMS ON THE CONSENT AGENDA FROM EXECUTIVE SESSION THIS MORNING.

THE UPDATED CONSENT AGENDA ITEMS ARE LISTED ON BOARD DOCS.

[NOISE] SO IS THERE A MOTION TO APPROVE THE CONSENT AGENDA ITEMS.

>> I HAVE A QUESTION FIRST.

REGENT CARSON WANTED TO BRING FORWARD AN ACTION ITEM OR AMENDMENT ON A POLICY.

IS THE POLICY LISTED, REGENT CARSON, IN THIS CONSENT AGENDA? SHOULD IT BE PULLED?

>> NO, I'M GOING TO OFFER MY MOTION RIGHT AFTER THE CONSENT AGENDA VOTE.

>> [OVERLAPPING] SO THAT PARTICULAR POLICY IS NOT ON THE CONSENT AGENDA THEN?

>> NO, I [INAUDIBLE] APPROACH TO IT.

I'M FINE WITH THE CONSENT AGENDA.

>> OKAY. VERY GOOD. I JUST WANTED TO CLARIFY, THANKS.

I'LL SECOND IT THEN.

>> [OVERLAPPING] WHO MADE THE MOTION?

>> I'LL MOVE IT. IF WE DON'T HAVE THE MOTION, I'LL MOVE IT THEN WE'LL NEED A SECOND.

>> REGENT SHARKEY MOVES TO APPROVE.

DO WE HAVE A SECOND?

>> I'LL SECOND.

>> OKAY, REGENT GANAHL HAS SECONDED.

ALL IN FAVOR OF APPROVING THE CONSENT AGENDA SAY AYE.

THE CONSENT AGENDA PASSES.

>> OPPOSED.

WE'RE NOW GOING TO MOVE INTO OUR RESOLUTIONS AND REGENT CARSON,

[F. NEW AGENDA ITEMS - REGENTS]

YOU'LL BE THE FIRST ON THE LIST.

SO IF YOU'RE READY TO GO?

>> THANK YOU, CHAIR GALLEGOS.

I DON'T HAVE A RESOLUTION [INAUDIBLE] [NOISE].

I JUST HAVE A MOTION TODAY THAT WOULD DIRECT THE GOVERNANCE COMMITTEE THIS SUMMER AT ONE OF THEIR UPCOMING MEETINGS TO REVIEW REGENT POLICIES 3D AND 3E ON SEARCHES AND REPORT [NOISE] BACK TO THE FULL BOARD OF REGENTS AT OUR SEPTEMBER MEETING.

THE RECOMMENDATION THAT I WOULD LIKE THE GOVERNANCE COMMITTEE TO CONSIDER IS THAT THE SEARCHES FOR HIGH LEVEL POSITIONS AT THE UNIVERSITY, THAT'S CHANCELLORS, PROVOST, DEANS, THAT THE SEARCH COMMITTEES BE COMPRISED OF NO MORE THAN 50 PERCENT OF THE MEMBERS BEING UNIVERSITY EMPLOYEES SO THAT WE CAN MAKE SURE WE [NOISE] HAVE A BROAD REPRESENTATION FROM OUR ALUMNI AND BUSINESS LEADERS AND MEMBERS OF THE PROFESSIONS AND STUDENTS AND OTHERS.

WHEN I FIRST GOT ON THE BOARD EARLY IN MY TENURE, I BECAME INTERESTED IN THIS ISSUE WHEN WE HAD A SEARCH FOR A DEAN WHERE WE HAD 17 MEMBERS OF THE SEARCH COMMITTEE AND 14 OF THEM WERE UNIVERSITY EMPLOYEES.

OBVIOUSLY, I HAVE GREAT RESPECT FOR UNIVERSITY EMPLOYEES, BUT I THINK WE SHOULD TRY AND BROADEN AND DIVERSIFY OUR SEARCHES.

MY PROPOSAL IS TO JUST HAVE THE GOVERNANCE COMMITTEE CONSIDER THAT CHANGE OR SOMETHING SIMILAR THIS SUMMER.

>> I SECOND THAT MOTION.

>> I DON'T KNOW IF WE NEED A MOTION FOR THAT.

I THINK THAT I WOULD FORWARD THAT TO THE GOVERNANCE COMMITTEE AND WE MAY ASK YOU FOR SOME FURTHER INFORMATION ON IT, BUT WE'LL MOVE IT TO THE GOVERNANCE COMMITTEE WITH THE HOPE THAT YOU WILL GET SOME SORT OF ANSWER OR BOTH AT SEPTEMBER BOARD MEETING. OKAY?

>> YEAH, THAT'S FINE WITH ME.

I'LL JUST SAY THAT I'VE RAISED THIS ISSUE OVER THE LAST SEVERAL YEARS EVEN WHEN I WAS A MEMBER OF THE OLD LAWS AND POLICIES COMMITTEE AND WE NEVER SEEM TO GET TO IT.

SO I'M FINE WITH APPROACHING IT THAT WAY, BUT I'LL JUST SAY THAT I WILL BE OFFERING MY PROPOSAL IN SEPTEMBER EITHER AS AN AMENDMENT TO THE GOVERNANCE COMMITTEE OR JUST ON MY OWN.

I JUST WANT TO MAKE SURE WE GET TO VOTE ON IT HERE THIS FALL.

>> JOHN, CURRENTLY I CHAIR THE GOVERNANCE COMMITTEE AND IRENE IS VICE CHAIR.

[00:45:06]

I'M FINE WITH BRINGING THAT FORWARD TO OUR NEXT GOVERNANCE.

WELL, I SHOULDN'T SAY OUR NEXT ONE, WE'RE MEETING ON JUNE 23RD, BUT THAT'S FOR RETREAT PLANNING, BUT I'M GOOD WITH BRINGING IT TO A GOVERNANCE COMMITTEE FOR DISCUSSION AND THEN BRINGING A PRODUCT FORWARD FOR A VOTE IN SEPTEMBER.

>> I THINK THAT'S WHAT WE JUST [INAUDIBLE].

>> THAT WORKS FOR ME. THANK YOU.

>> I JUST WANTED TO REASSURE HIM THAT WE WOULD GET THAT INTO THE GOVERNANCE COMMITTEE [OVERLAPPING].

>> I THINK THAT'S A PLAN OF ATTACK.

WITH THAT OUT OF THE WAY, LET'S MOVE TO OUR NEXT RESOLUTION AND THAT HAS TO DO WITH THE REGENT KROLL.

>> THANK YOU, CHAIR GALLEGOS.

I'D LIKE TO READ THE RESOLUTION AS I MAKE A MOTION [NOISE] TO THE RESOLUTION.

I MOVE THAT WE ADOPT THE FOLLOWING RESOLUTION.

THE MEMBERS OF THE BOARD OF REGENTS OF THE UNIVERSITY OF COLORADO ARE APPALLED BY THE TRAGIC MURDERS OF BLACK AMERICANS AT THE HANDS OF POLICE, WHICH SERVE AS A PAINFUL REMINDER OF THE SYSTEMIC RACISM AND INEQUALITY STILL PLAGUING OUR COUNTRY.

THESE TRAGEDIES REINFORCED THE NEED TO MAKE OUR UNIVERSITY A MORE INCLUSIVE, EQUITABLE INSTITUTION OF LEARNING.

SPECIFICALLY, WE MUST DO MORE TO LISTEN AND ENGAGE THOSE WHO ARE THE MOST MARGINALIZED AND MOST IMPACTED BY STRUCTURAL AND INSTITUTIONAL RACISM AT OUR UNIVERSITY AND IN OUR COMMUNITIES.

WE HAVE LISTENED TO THE MANY STUDENT GROUPS WHO HAVE RAISED THEIR VOICES TO DEMAND CHANGE AND WE AFFIRM THE VOICES OF THE BLACK STUDENT ALLIANCE, OUR STUDENT GOVERNANCE LEADERS, AND THOSE WHO SUPPORT COMMEMORATING LOS SEIS DE BOULDER.

WE PLEDGE TO WORK WITH OUR STUDENTS AND LEARN FROM THEM WAYS TO IMPROVE OUR COMMUNITY.

IN THIS CALL TO ACTION, THE BOARD OF REGENTS ADOPTS THE FOLLOWING RESOLUTION.

WHEREAS, THE BOARD OF REGENTS IS COMMITTED TO LEAD BY EXAMPLE AND WORK COLLABORATIVELY WITH OUR ADMINISTRATION, SHARED GOVERNANCE LEADERS, STUDENTS, FACULTY, AND STAFF TO CLEARLY DEFINE HOW WE NEED TO CHANGE OUR CULTURE AND INSTITUTION TO BETTER SUPPORT DIVERSITY, EQUITY, AND INCLUSION.

WHEREAS, ENSURING THE SAFETY OF THE LIVING AND LEARNING ENVIRONMENTS ON ALL OF OUR CAMPUSES FOR OUR STUDENTS, FACULTY, STAFF, AND VISITORS SHOULD BE AN AREA OF DELIBERATE AND CONTINUAL FOCUS.

WHEREAS, HOW WE RESPECT EACH OTHER, TREAT EACH OTHER, AND ENGAGE WITH EACH OTHER ARE CRITICAL ELEMENTS IN CREATING AN INCLUSIVE ENVIRONMENT.

WHEREAS, OUR GOAL IS TRANSFORMATIONAL, STRUCTURAL, AND INSTITUTIONAL CHANGE USING A TRANSPARENT, COLLABORATIVE, AND FAIR PROCESS.

WHEREAS, NOW IS THE TIME FOR ACTION AND WE COMMIT TO HOLD ACCOUNTABLE THE UNIVERSITY LEADERSHIP.

WHEREAS, THE ACTIONS LISTED BELOW REPRESENT IMPORTANT BUT SMALL STEPS IN OUR EVOLUTION AS AN INSTITUTION.

WE MUST BE RELENTLESS IN OUR PURSUIT OF A MORE PERFECT SOCIETY THAT LIVES UP TO THE IDEAL THAT WE ARE ALL EQUAL AND ENJOY UNALIENABLE RIGHTS.

THEREFORE, BE IT RESOLVED THE FOLLOWING ACTIONS WILL BE TAKEN IMMEDIATELY BY UNIVERSITY LEADERSHIP TO ENSURE A SYSTEM THAT IS FAIR, EQUITABLE, AND ACCOUNTABLE FOR ALL STUDENTS, FACULTY, STAFF, ALUMNI, AND COMMUNITY.

[NOISE] THE PRESIDENT AND CAMPUS CHANCELLORS WILL ASSESS THE USE OF FORCE POLICIES OF CU CAMPUS POLICE, ENSURE THE POLICIES, PRACTICES, AND PROCEDURES IN LINE WITH COLORADO LAW PASSED DURING THE [BACKGROUND] 2020 LEGISLATIVE SESSION.

RECENTLY, [INAUDIBLE] [OVERLAPPING] RECOMMENDATIONS ON THE FUTURE [INAUDIBLE] [OVERLAPPING].

UNIVERSITY OF COLORADO FOUNDATION DOES NOT CURRENTLY HOLD AND SHALL NOT MAKE ANY FUTURE INVESTMENTS IN PRIVATE PRISONS.

PROUDLY ENDORSE CU DENVER'S IN THE CU EN-SUITES MEDICAL CAMPUS' PURSUIT OF FEDERAL DESIGNATION AS HISPANIC SERVING INSTITUTIONS AND REQUESTS THAT CHANCELLOR MICHELLE MARKS ENGAGE THE BOARD IN DISCUSSIONS ABOUT HOW TO ACHIEVE THIS DESIGNATION.

WE DIRECT THE ADMISSIONS STAFF AND OUR FACULTY TO EXPLORE ALTERNATIVES TO THE ACT/SAT STANDARDIZED TEST AS AN ENTRANCE REQUIREMENT.

WE ENCOURAGE THE STATE LEGISLATURE AND GOVERNOR TO RID UNIVERSITIES OF THIS REQUIREMENT PERMANENTLY.

THE PRESIDENT WILL CONTINUE TO FIND WAYS TO INVEST THE PRESIDENTIAL INITIATIVE FUNDS IN THE REALMS OF CIVIC EDUCATION, DIVERSITY, AND INCLUSION.

WE COMMEND THE PRESIDENT ON HIS RECENT INVESTMENTS TO EXPAND OUR PRECOLLEGIATE PROGRAM, FUND SCHOLARSHIPS FOR DIVERSE STUDENTS ACROSS THE CU SYSTEM, FUND OUR CAMPUS DIVERSITY SUMMITS, CONDUCT A PAY EQUITY ANALYSIS, HIRE A SYSTEM-WIDE CHIEF DIVERSITY OFFICER, ENHANCE CIVIC EDUCATION, AND INCLUDE DIVERSITY AND INCLUSION AS A PILLAR IN OUR UNIVERSITY STRATEGIC PLAN.

WE DIRECT THE PRESIDENT AND THE LEADERSHIP TEAM TO UNDERTAKE A REVIEW OF ALL DIVERSITY RELATED TRAINING AND PROFESSIONAL DEVELOPMENT PROGRAMS TO DETERMINE THEIR EXTENT AND

[00:50:01]

EFFECTIVENESS AND TO DEVELOP A NEW MANDATORY TRAINING PROGRAM FOR FACULTY AND STAFF THAT FOCUSES ON ANTI-RACISM AND ANTI-BIAS.

LASTLY, WE DIRECT THE PRESIDENT TO FORM A COMMITTEE OF FACULTY, STAFF, STUDENTS, AND ALUMNI TO REVIEW PROCEDURES FOR NAMING BUILDINGS AND TO RECOMMEND A NEW NAME FOR TEMPORARY BUILDING ONE THAT HONORS THE BUILDING SIGNIFICANCE AND CU'S OWN CIVIL RIGHTS CHALLENGES.

FOR THAT END, WE EXPECT THE LOS SEIS MEMORIAL TO BECOME A PERMANENT DISPLAY TO SERVE AS A REMINDER OF THIS HISTORY.

>> IS THERE ANY DISCUSSION?

>> I THINK WE NEED A SECOND THERE.

>> GLEN, I'D LIKE TO SECOND THAT.

CAN I MAKE A COMMENT REGARDING IT?

>> WE HAVE A MOTION FOR A VOTE AND A SECOND BY REGENT GRIEGO AND DISCUSSION.

>> I WOULD LIKE TO JUST SHARE SOMETHING WITH THE BOARD.

I'M 69 YEARS OLD, GOING TO BE GOING OFF THE BOARD HERE SOON, BUT 51 YEARS AGO, I WAS A STUDENT AT CU BOULDER.

DURING THAT TIME PERIOD, I CAME ON AS A NEW LAW STUDENT, AND I WAS VERY FORTUNATE THAT DURING THAT TIME PERIOD, THE FEDERAL GOVERNMENT GAVE THE UNIVERSITY OF COLORADO MONIES TO CONTRIBUTE TO BRINGING MINORITY STUDENTS ONTO THE CAMPUS, AND THEY PUT TOGETHER A VERY COMPREHENSIVE PROGRAM.

BUT ALSO, THE BOARD OF REGENTS HAD TO AGREE TO MATCH THOSE FUNDS, WHICH THEY DID.

SO I KNOW WHEN I CAME ON BOARD, THERE WERE OVER 300 STUDENTS THAT WERE LATINO STUDENTS, WE HAD BLACK AFRICAN STUDENTS, WE HAD NATIVE STUDENTS, WE HAD MIGRANT STUDENTS, THERE WAS A NUMBER OF STUDENTS THAT CAME ON AND THEY ALL CAME UNDER THE ELP PROGRAM.

IN FACT, ONE OF OUR CHANCELLORS, PHIL DISTEFANO, WAS ONE OF THE ENGLISH TEACHERS AND HE CAME ON LATER ON WITH THIS PROGRAM.

IT GAVE HOPE TO MINORITY STUDENTS, AND I KNOW THAT SUMMER PROGRAM, IT PREPARED ME TO BE A STUDENT WHICH LATER ON, I MOVED ON TO GET A PHD.

BUT AT THE SECOND YEAR, THIRD YEAR OF THIS PROGRAM, THE FEDERAL GOVERNMENTS PULLED THE MONEY AWAY.

AT THAT TIME, THE BOARD OF REGENTS MADE A DECISION NOT TO CONTINUE FUNDING IT.

THEY DIDN'T HAVE THE MATCHING FUNDS.

SO WHAT HAPPENED DURING THAT TIME PERIOD, THESE MINORITY STUDENTS, HAD TO MAKE A BIG DECISION [NOISE] BECAUSE THEY DIDN'T HAVE THE MONEY OR RESOURCES TO STAY ON CAMPUS OR TO TAKE CLASSES, SO MANY OF THEM DROPPED OUT.

IN FACT, THE MAJORITY OF THEM HAD TO DROP OUT.

MANY OF THEM WENT TO, AT THAT TIME, CU EXTENSION BECAUSE THEY LIVED IN DENVER AND THEY WERE ABLE TO STAY AT HOME AND GO TO SCHOOL THERE.

I KNOW SO MANY OF THEM GRADUATED FROM CU DENVER AND ARE VERY SUCCESSFUL PEOPLE TODAY.

BUT STUDENTS DURING THAT TIME PERIOD LOST HOPE, FELT DENIED THEIR AGREEMENT WITH THE UNIVERSITY AND REALLY LOST CONFIDENCE IN CU.

BUT ALSO SOME OF THEM WERE JUST DETERMINED TO PROVE THAT THEY CAN GET THROUGH THIS.

I KNOW FOR MYSELF I HAD TO TAKE ON TWO JOBS, I HAD TO GET GRANTS AND LOANS, AND EVERYTHING ELSE THAT I CAN DO TO STAY ON TO FINISH UP MY FOUR YEARS THERE.

WE DO NOT WANT TO LET OUR STUDENTS DOWN ANYMORE.

I OFTEN WONDER WHAT WOULD HAVE HAPPENED IF THAT PROGRAM WOULD HAVE BEEN SUPPORTED BY THE UNIVERSITY OF COLORADO? HOW DIFFERENT OUR SOCIETY WOULD HAVE BEEN TODAY? WE MIGHT NOT EVEN BEEN IN THE SITUATION WE ARE IN TODAY IN OUR SOCIETY IF WE WOULD HAVE MAINTAINED THOSE PROGRAMS. IN FACT, THAT'S WHERE THE TB1 BUILDING CAME BECAUSE A LOT OF THE CIVIL RIGHTS MEETINGS AND GATHERINGS TOOK PLACE THERE.

IN FACT, STUDENTS TOOK OVER FOR 16 OR 18 DAYS, THAT'S WHERE OUR ELP PROGRAM IS AT.

I WAS ONE OF THOSE STUDENTS.

BUT I WAS SHOCKED, I WAS AFRAID THAT I WOULDN'T BE ABLE TO GRADUATE BECAUSE I DIDN'T HAVE THAT SUPPORT.

SO THERE'S A LOT TO BE SAID ABOUT BEING ACTIVE AND ACTIVE NOW.

I KNOW MANY OF THE REGENTS OR SOME OF THE REGENTS WANT TO PUT THIS OFF, THEY WANT TO TAKE IT TO COMMITTEE, OR MAY NOT WANT TO SUPPORT PART OF THIS OR ANY OF IT, BUT I REALLY ENCOURAGE US TO REALLY THINK TWICE ABOUT MAKING A COMMITMENT TO STUDENTS, FULFILLING THAT FOR STUDENTS, AND DO IT FOR A LONG PERIOD OF TIME SO THAT WE CAN SEE CHANGE.

I KNOW OUR CHANCELLORS ARE UP TO THIS AND OUR SOCIETY NEEDS IT.

WE NEED TO BE ABLE TO SUPPORT PROGRAMS THAT ARE GOING TO LAST WHERE STUDENTS CAN HAVE HOPE, BELIEVE IN US SO THAT WE CAN BECOME THE EDUCATED SOCIETY THAT WE SHOULD BE, AND WE SHOULD ALL BE PART OF IT.

[00:55:01]

I AM VERY PASSIONATE ABOUT THIS.

I THANK JACK, I THINK YOU DID A GREAT JOB AT PUTTING THIS ALL TOGETHER, KEEPING IN MIND EVERYTHING ON THIS LIST ARE THINGS THAT WE HAVE HEARD, WE'VE GOTTEN LETTERS FROM, WE SPOKE TO STUDENTS OR THEY SPOKE TO US THAT THEY HAVE ASKED, THAT THEY'VE DEMANDED, SOME OF THEM HAVE MET WITH CHANCELLORS, BUT THEY HAVE BEEN PASSIONATE ABOUT BRINGING THESE ISSUES UP.

SO THEY'RE NOT NEW AND MY FEELING IS IT'S TIME THAT WE DO THESE THINGS AND WE MAKE A COMMITMENT AND WE MOVE FORWARD.

THANK YOU. I JUST NEEDED TO SHARE THAT AND I WILL BE SUPPORTING THIS RESOLUTION.

>> GLEN, CAN I MAKE A STATEMENT AS WELL?

>> ALL RIGHT. SURE, SUE.

>> THANK YOU. IRENE, I APPRECIATE YOUR COMMENTS.

AS YOU KNOW, I INITIATED A PHONE CALL TO YOU JUST OVER TWO WEEKS AGO SUGGESTING THAT AT OUR RETREAT, WE SET SOME TIME ASIDE TO ADDRESS THIS ISSUE.

I FELT THEN AND I FEEL TODAY, EVEN MORE STRONGLY TODAY, THAT IT'S REALLY IMPORTANT THAT WE AS REGENTS HERE FROM OUR UNIVERSITY COMMUNITY TO HEAR DIRECTLY.

NOT ONE OR TWO REGENTS TALKING TO A FEW PEOPLE OR GOING AROUND CAMPUSES, BUT RATHER THAT ALL NINE OF US CAN SIT TOGETHER.

LIKE I'VE SAID, TO STOP, TO BE STILL, AND LISTEN, BECAUSE I THINK WE NEED TO LISTEN AND I THINK WE NEED TO LISTEN TOGETHER.

THEN NINE OF US INDIVIDUALLY, FROM OUR OWN PERSPECTIVES, PUT TOGETHER, WHETHER WE'RE REPUBLICANS OR DEMOCRATS, THERE SHOULD NOT BE A REPUBLICAN OR DEMOCRAT ISSUE.

BUT I ASKED FOR THAT, IRENE, AND YOU SAID NO, YOU DIDN'T THINK THAT WAS A GOOD IDEA.

BUT I'VE HEARD BACK FROM THE SURVEY THAT [INAUDIBLE] [OVERLAPPING]

>> I DIDN'T SAY THAT, SUE.

[NOISE] I DIDN'T SAY THAT IT WASN'T A GOOD IDEA. [INAUDIBLE] [OVERLAPPING]

>> BUT YOU THOUGHT IT WASN'T A GOOD IDEA BECAUSE [INAUDIBLE] [OVERLAPPING]

>> HOLD ON, ONE PERSON AT A TIME.

>> THANK YOU. I DIDN'T INTERRUPT YOU, IRENE, BUT JUST BECAUSE YOU WERE CONCERNED ABOUT THIS BEING A DIVISIVE ISSUE, I THINK IT'S AN ISSUE ALL OF US CARE ABOUT.

I DON'T THINK THERE IS ANY ONE REGENT THAT CARES MORE ABOUT THIS THAN ANOTHER.

I WOULD SAY WE ALL NINE ARE VERY CONCERNED ABOUT THIS.

SO I WOULD LIKE THE OPPORTUNITY TO HEAR FROM OUR UNIVERSITY COMMUNITY TO ALLOW THEM TO BE HEARD AND THEN TO MOVE FORWARD AND TO DO IT QUICKLY.

I DON'T THINK THAT WE HAVE TIME ON OUR SIDE AND JUST BECAUSE SOMETHING HAPPENED A FEW WEEKS AGO THAT IS SO OUTRAGEOUS, I THINK IT'S SHAMEFUL THAT WE NOW BRING THIS FORWARD, THAT IT TAKES THIS KIND OF HORRIFIC ACT FOR US TO BE TALKING ABOUT THIS.

THIS SHOULD HAVE BEEN DONE MANY, MANY YEARS AGO.

BUT HERE WE ARE TODAY, AND I WOULD JUST ASK FOR A FEW WEEKS THAT ALL NINE OF US COME TOGETHER AS A BOARD TO ADDRESS THIS, TO BE UNITED, TO SHOW OUR COMMUNITY THAT WE ARE UNITED.

THIS ISN'T ABOUT REPUBLICANS AND DEMOCRATS.

SO I'M GOING TO MAKE A MOTION TO REFER JACK'S RESOLUTION TO THE APPROPRIATE COMMITTEES.

WHAT I WOULD LIKE TO SEE IS THIS TO GO TO BOTH THE UNIVERSITY AFFAIRS COMMITTEE AND TO THE GOVERNANCE COMMITTEE BECAUSE ALL REGENTS WILL SERVE IN ONE OF THOSE TWO, IF NOT BOTH OF THOSE COMMITTEES.

IT WILL THEN ALLOW US, NINE OF US TO BE ENGAGED AND INVOLVED AND WORKING ON THE RESOLUTION THAT WE CAN ALL AGREE ON.

BUT I WOULD LIKE TO START WITH HEARING FROM THE VOICES THAT WE NEED TO HEAR FROM AT OUR REAGENT RETREAT.

SO MY MOTION IS TO REFER THIS RESOLUTION TO THOSE TWO COMMITTEES.

I GUESS I WOULD ASK FOR A SECOND ON THAT MOTION.

>> YEAH, LET ME TAKE CARE OF THIS.

I WOULD GO BACK TO REGENT KROLL TO SEE IF YOU WOULD CONSIDER ADDING SUE'S AS AN AMENDMENT TO YOUR MOTION.

IF SO, THEN WE WOULD BE VOTING TO TAKE THIS INTO THE COMMITTEES THAT SHE TALKED ABOUT.

IF NOT, THEN WE'LL GET A SECOND FROM SUE, WE'LL DO YOUR VOTE, AND THEN DO SUE'S VOTE.

I THINK WE HAVE A CHOICE HERE THAT SAYS IF YOU

[01:00:01]

LIKE SUE'S AMENDMENT ENOUGH TO INCLUDE IT TO YOURS, THEN WE WOULD NOT BE VOTING TODAY TO ACCEPT OR NOT ACCEPT THIS RESOLUTION, IT WOULD BE TO GO INTO THE ARENAS THAT SUE TALKED ABOUT.

WITH THAT JACK, I WOULD ASK YOU FOR YOUR ANSWER ON THAT.

>> JACK, YOU'RE ON MUTE.

>> THANKS. I WOULD NOT ACCEPT THE MOTION TO SEND IT TO THE COMMITTEES, YOU KNOW, FOR ME TO PULL A WORD FROM REGENT CARSON, WE'RE COMING UP ON THE SEMIQUINCENTENNIAL OF OUR NATION, NATION'S FOUNDING.

WE HAVE BEEN CONFRONTING THESE ISSUES OF SYSTEMIC AND INSTITUTIONAL RACISM SINCE OUR COUNTRY'S FOUNDING AND SINCE OUR UNIVERSITY'S FOUNDING.

WHILE I APPRECIATE REGENT SHARKEY'S CALL TO DO SOME MORE LISTENING, FOR ME, I HAVE HEARD ENOUGH AND I THINK NOW IS THE TIME FOR ACTION.

THAT BEING SAID, IF IT IS THE WILL OF THE MAJORITY OF THIS BOARD TO SEND THIS TO THE COMMITTEES, I WOULD ARDENTLY ENGAGE IN THAT PROCESS.

FOR ME HOWEVER, AT THIS TIME, I WOULD HOPE WE CAN ADOPT THE RESOLUTION TODAY.

>> [OVERLAPPING] MY MOTION STANDS GLEN TO REFER TO THE COMMITTEE.

>> WE HAVE A VOTE, WHICH WE'RE GOING TO DO BY ROLL CALL, AS TO WHETHER OR NOT HIS RESOLUTION WILL GO FORWARD OR NOT.

>> YOU CAN'T VOTE ON. [OVERLAPPING]

>> I HAVE ANOTHER COMMENT.

>> HIS RESOLUTION TO HAVE A MOTION ON THE TABLE TO REFER THE RESOLUTION TO THE COMMITTEE.

[OVERLAPPING] I'M MAKING A MOTION TO TABLE HIS RESOLUTION TO REFER TO COMMITTEE.

BUT WE CAN'T VOTE ON THE RESOLUTION UNTIL WE HAVE A VOTE ON WHETHER OR NOT TO TABLE THIS AND REFER IT.

>> EFFIE, WILL YOU STRAIGHTEN THIS OUT HERE?

>> OKAY. IF THERE IS A MOTION TO LAY ON THE TABLE, WE WOULD NEED A SECOND AND THEN THAT WOULD REQUIRE A TWO-THIRDS VOTE OF THE BOARD.

>> I'LL SECOND THE MOTION AT THE TABLE.

>> SO TO TABLE IT WOULD REQUIRE A TWO-THIRDS VOTE. CORRECT?

>> THAT'S CORRECT. SO I'LL TAKE A ROLL CALL VOTE AT THIS TIME.

>> WELL TELL US WHAT WE'RE VOTING ON.

>> SO THIS MOTION IS TO TABLE THE MOTION MADE BY REGENT KROLL ON HIS RESOLUTION.

>> OKAY. SO I'LL TAKE A ROLL CALL VOTE.

>> SO THEN THE VOTE WAS FIVE TO FOUR.

SO A TWO-THIRDS VOTE WOULD BE SIX VOTES.

SO THAT LOSES.

SO WE'RE BACK TO THE ORIGINAL MOTION BY REGENT KROLL.

>> CAN I MAKE A COMMENT CHAIR GALLEGOS, WITH THIS MOTION FAILING TO TABLE.

I WOULD STILL LIKE TO RECOMMEND THAT REGARDLESS OF HOW THIS VOTE COMES OUT, THAT WE CONTINUE THIS DISCUSSION AT OUR REGENT RETREAT ON JULY EIGHT.

I THINK THIS DISCUSSION IS TOO IMPORTANT TO END TODAY WITH A VOTE.

I STILL WANT FEEL IT'S REALLY IMPERATIVE THAT WE HEAR FROM OUR UNIVERSITY COMMUNITY THAT THERE ARE VOICES THAT NEED TO BE HEARD.

THEY NEED THE CHANCE TO SIT IN FRONT OF THIS BOARD OF REGENTS, AND TELL ALL NINE OF US WHAT THEIR EXPERIENCES ARE.

FOR US TO BE ABLE TO ASK THEM THE QUESTIONS, HOW CAN WE HELP YOU? SO RATHER THIS COMING FROM TOP DOWN, I WOULD RATHER SEE IT [NOISE] COME FROM THOSE VOICES THAT WE'VE LISTENED TO.

>> I THINK THAT WE, AND EFFIE IF YOU'RE STILL ON.

I THINK THAT WE ARE AT THE POINT WHERE WE NEED TO TAKE A VOTE.

IF THE VOTE PASSES, THEN THE RESOLUTION IS APPROVED.

IF IT DOES NOT PASS, THEN AT THAT POINT COULD REGENT SHARKEY INTRODUCE HER AMENDMENT?

[01:05:01]

>> SO ACTUALLY, I NEED TO CORRECT MYSELF.

I WAS INCORRECT WHEN I SAID IT REQUIRED A TWO-THIRDS VOTE TO LAY ON THE TABLE.

THAT IS A MAJORITY VOTE.

SO I APOLOGIZE.

THAT I WAS WRONG. SO WE DID VOTE TO LAY THAT ON THE TABLE.

SO THAT MEANS IT'S STILL THERE.

IT'S JUST ON THE TABLE.

WE COULD BRING IT BACK LATER.

WE COULD DO ANOTHER MOTION ON SOMETHING ELSE, LIKE TO SEND IT TO COMMITTEE.

>> SO MY MOTION THEN PASSED TO TABLE THIS RESOLUTION [OVERLAPPING].

>> TO TABLE. YES, I WAS INCORRECT.

>> OKAY, SO WE'VE TABLED.

SO I'M GOING TO BRING FORWARD A MOTION THAT WE REFER THIS RESOLUTION TO THE APPROPRIATE COMMITTEES, UNIVERSITY AFFAIRS AND GOVERNANCE.

DO I HAVE A SECOND ON THAT?

>> I'LL SECOND THAT MOTION TO REFER TO COMMITTEE.

I THINK THAT'S THE WAY WE OPERATE.

>> THIS IS LINDA. COULD I MAKE A COMMENT? I'VE NOT SAID ANYTHING ON THIS ISSUE YET.

>> YOU ABSOLUTELY CAN.

>> I'M CHAIR OF THE UNIVERSITY AFFAIRS COMMITTEE AND I WOULD WELCOME HAVING THIS CONVERSATION WITHIN THE UA COMMITTEE.

BUT I DID NOT SEE JACK'S RESOLUTION AS A ONE AND DONE KIND OF A DEAL.

WHERE WE WOULD PASS IT NOW, WE'D NEVER DISCUSS IT AGAIN? ABSOLUTELY NOT.

THIS IS A CRITICAL ISSUE FOR PEOPLE TO HEAR FROM THIS BOARD OF REGENTS RIGHT NOW IN TIME.

I'M SORRY THAT THE BOARD MAJORITY IS UNWILLING TO DO THAT.

I'M PERFECTLY HAPPY TO DISCUSS THIS ALL SUMMER AND ALL FALL AND ALL OF NEXT YEAR.

UNTIL SOMETHING SUBSTANTIVE GETS DONE.

>> LINDA, I DON'T BELIEVE THAT REGENT SHARKEY'S AMENDMENT IS ABOUT A ONE AND DONE DEAL EITHER.

I THINK THAT WITH REGENT'S KROLL'S VOTE, IF IT DOESN'T PASS, THEN I THINK THERE'S AN AMENDMENT ON THE TABLE THAT SAYS, THE NEXT VOTE COULD BE TO MOVE IT TO A COMMITTEE.

SO I DON'T SEE IT AS A ONE AND DONE EITHER.

>> THANK YOU FOR THAT CLARIFICATION.

CHAIR GALLEGOS BECAUSE I COULD HAVE LEFT IT AS TABLING HIS RESOLUTION AND LEFT IT THERE.

BUT MY SECOND MOTION HERE WAS TO GO BEYOND THAT TO THE NEXT STEP.

IT WASN'T TO KILL THE RESOLUTION, BUT RATHER TO REFER THE RESOLUTION ON.

SO I WASN'T JUST STOPPING WITH TABLING HIS RESOLUTION.

>> RIGHT.

>> SO I THINK WE'RE AT THE POINT NOW WHERE THE VOTE THAT WE TOOK TO TABLE REGENT KROLL'S RESOLUTION, DID TABLE IT.

SO NOW I THINK YOU CAN INSTITUTE YOUR MOTION, GET A SECOND AND WE CAN VOTE ON THAT.

>> OKAY. SO MY MOTION STILL STANDS TO REFER THIS RESOLUTION ONTO BOTH THE UNIVERSITY AFFAIRS COMMITTEE AND THE GOVERNANCE COMMITTEE IN ORDER FOR ALL REGENTS TO BE INVOLVED AND ENGAGED IN THE COMMITTEE PROCESS.

>> [INAUDIBLE]

>> REGENT CARSON SECONDED THAT.

SO AT THIS POINT EFFIE, BEFORE WE TAKE A VOTE, ARE WE ON THE RIGHT TRACK HERE?

>> YES.

>> OKAY. SO AT THIS POINT, WE'RE VOTING ON SUE'S AMENDMENT TO MOVE THIS RESOLUTION TO THE RESPECTIVE COMMITTEES, TO THE REGION'S RETREAT ON THE 4TH OR WHATEVER THE CASE MIGHT BE.

>> ON THE JULY 8TH, YES.

>> ON JULY 8TH? BUT IT IS NOT TO TABLE THE RESOLUTION FOREVER. IT'S [OVERLAPPING]

>> IT'S FOR THE RESOLUTION WILL NOT BE BROUGHT FORWARD AT THE RETREAT, I'M SUGGESTING THAT THE RESOLUTION BE REFERRED TO THE TWO COMMITTEES, BUT AT THE RETREAT, WE WILL ENGAGE ON THIS DISCUSSION BY PUTTING ON THE AGENDA, HAVING SPEAKERS COME AND MEET WITH HIS BOARD OF REGENTS.

SO I WOULD SAY IT'S MORE OF A FOUR-STEP PROCESS FROM THE RETREAT, UNIVERSITY AFFAIRS, GOVERNANCE AND THEN ULTIMATELY THIS BOARD VOTES.

>> WHICH YOU WOULD ALSO BE REFERRING BACK TO OTHER COMMITTEE MEMBERS FOR THOSE STEPS.

YEAH. SO WE HAVE A VOTE, THAT IT'S GOING TO TAKE PLACE HERE, ON REGENT SHARKEY'S AMENDMENT, AND THAT'S TO MOVE IT FORWARD.

SO EFFIE WILL YOU DO A ROLL CALL?

>> CAN WE HAVE DISCUSSION?

>> SURE. IRENE WELL YOU CAN HAVE DISCUSSION. [OVERLAPPING]

[01:10:01]

>> THIS IS WHAT I WANT TO CLARIFY.

BECAUSE I FELT THAT REGENT SHARKEY MISREPRESENTED UP THAT CONVERSATION, THAT I UNDERSTOOD HAPPENED.

HAVING STUDENTS COME IN THE MIDDLE OF THE SUMMER WHEN THEY'RE NOT IN SESSION, IS VERY DIFFICULT. [OVERLAPPING].

>> IT WASN'T ABOUT STUDENTS, IT WAS FROM PEOPLE ALL OVER THE COMMUNITY. [OVERLAPPING].

>> YOU WANTED ME NOT TO INTERRUPT YOU.

>> I REALLY HAVE[OVERLAPPING].

>> I JUST WANTED TO CLARIFY THAT.

>> I'M JUST TELLING YOU NOT TO INTERRUPT ME.

>> I THINK IT'S IMPORTANT IF WE ARE GOING TO. [OVERLAPPING]

>> HOLD ON A SECOND HERE.

IRENE, EXCUSE ME.

FOLKS, LET'S SHOW SOME REGARD FOR THE OTHER PERSON.

WE DON'T NEED TO INTERRUPT YOU'LL GET YOUR TURN.

SO ON BOTH SIDES, LET'S GET BACK TO OUR NORMAL PROCEDURE HERE.

IRENE [INAUDIBLE] ON THE FLOOR.

>> OKAY. I JUST WANTED TO SHARE THAT IT IS IMPORTANT FOR US TO LISTEN TO STUDENTS.

I DO FEEL THAT THIS RESOLUTION IS BASED ON LISTENING TO THEM.

BUT TO CONTINUE LISTENING TO THEM, WE NEED TO DO IT DURING A TIME PERIOD WHEN OUR STUDENTS ARE ON CAMPUS, WHEN THEY'RE ACTIVELY INVOLVED, WHERE WE CAN HAVE A GOOD CROSS-SECTION OF STUDENTS TO HAVE CONVERSATIONS WITH.

HAVING THEM COME IN THE SUMMER THAT WAS SUGGESTED, IS NOT A GOOD TIME BECAUSE THEY'RE AT HOME, THEY ARE AT DIFFERENT PLACES, AND THEN WE HAVE COVID GOING ON, AND WE'D HAVE TO DO A ZOOM MEETING.

SO I JUST WANT US TO [INAUDIBLE] THAT INTACT, AND HOPE THAT MOVING FORWARD WE CAN COME UP WITH AN AGENDA TO HOW WE CAN EFFECTIVELY HAVE THIS CONVERSATION, AND MAKE A DECISION SOON.

THE STUDENTS DO NOT NEED TO WAIT ANY LONGER [NOISE] THAN EVEN NOW, FOR US TO MOVE FORWARD AND IN SUPPORTING THEM.

>> THANK YOU. [OVERLAPPING]

>> I NEEDED TO [OVERLAPPING]

>> HOLD ON, SUE.

>> WELL I WANTED TO CLARIFY, IF I [INAUDIBLE] [OVERLAPPING].

>> EXCUSE ME SUE.

SUE YOU'LL GET YOUR CHANCE, I'VE ASKED FOR A DISCUSSION, IS THERE OTHER DISCUSSION, BEFORE WE MOVE TO SUE? OKAY, REGENT SHARKEY.

>> OKAY. SO I WASN'T SUGGESTING THAT WE JUST HAVE STUDENTS, BECAUSE WHAT HAPPENS ON OUR CAMPUSES NOT ONLY AFFECT OUR STUDENTS BUT ALSO OUR STAFF, IT AFFECTS OUR FACULTY, IT AFFECTS ALL PEOPLE.

SO IT WAS MY HOPE AND DESIRE TO HAVE SPEAKERS COMING I WASN'T SPECIFIC ABOUT SPEAKERS AND IN FACT, I LEFT IT OPEN AS TO HAVING BEING OPEN TO THE IDEA [NOISE] OF WHO WOULD BE THE APPROPRIATE PEOPLE TO COME TO SPEAK.

SO I JUST WANT TO MAKE SURE I CLARIFY THAT I WASN'T TALKING ABOUT JUST STUDENTS, BECAUSE IT'S NOT ONLY STUDENTS WHO WERE INVOLVED, AND IMPACTED BY THE THINGS THAT GO ON ON OUR CAMPUSES.

>> OTHER COMMENTS, THE DISCUSSION BEFORE THE VOTE HERE?

>> ONE MORE THOUGHT I HAD.

WE DECIDED EARLIER THAT WE WERE GOING TO HAVE A MEETING NEXT WEEK TO TO TALK TO OUR CHANCELLORS ABOUT COVID ISSUES, BECAUSE WE DIDN'T HAVE TIME FOR THAT THIS MORNING.

I WOULD SUGGEST THAT THIS IS EQUALLY IMPORTANT RIGHT NOW TO OUR CAMPUS COMMUNITY, [OVERLAPPING] AND WE ALL HAVE A WEEK TO THINK ABOUT IT, HAVE A LANGUAGE IN FRONT OF US, TALK TO ANYBODY THAT YOU WANT, REACH OUT TO BLACK LIVES MATTER AND LEADERS ON THE CAMPUS.

SAY TO THEM, "WELL, I WOULD LIKE A REPRESENTATIVE SAMPLE OF YOU TO TALK TO A GROUP OF REGENTS, OR ACTUALLY COME TO THE MEETING AND TALK TO US THEN."

>> LINDA, WHAT MY MOTION IS FOR IS TO HAVE SPEAKERS COME TO US AT THE REGENT RETREAT ON JULY EIGHT.

THEN I THINK IT WOULD BE A SIGNIFICANT STEP FOR US TO CALL A SPECIAL UNIVERSITY AFFAIRS COMMITTEE MEETING, AND THEN IN ADDITION, A SPECIAL GOVERNANCE COMMITTEE MEETING, TO ADDRESS JUST THIS ISSUE ALONE.

BUT TO DO IT FOLLOWING A REGENT RETREAT AFTER WE'VE HAD THE CHANCE TO HEAR FROM WHO WE NEED TO HEAR FROM.

>> WHICH WE COULD ALSO DO NEXT WEEK. [OVERLAPPING]

>> I WOULD HOPE THAT THE MEETING HAD ALL OF THAT DONE, WITHIN THE NEXT MONTH.

LESS THAN A MONTH [OVERLAPPING]

>> I THINK I'M GOING TO PUT A STOP TO THE DISCUSSION.

I THINK THAT THE MOTION IS TO MOVE IT ON TO SOME OTHER COMMITTEES, AND SOME OTHER PLACES.

I DON'T THINK THAT WE TOTALLY DISCUSSED HOW OR WHAT, OR WHEN.

I THINK THAT'S TO BE [OVERLAPPING]

>> AFTER THE REGENT RETREAT.

I WOULD LIKE WHAT I SUGGEST WHAT IS REGENT.

MY MOTION IS [OVERLAPPING] WITH THE REGENT RETREAT.

OKAY. I JUST WANT TO CLARIFY, GLENN.

>> EFFIE WILL YOU READ SUE'S MOTION, PLEASE?

>> SURE, THE MOTION THAT I HAVE IS THAT, THE RESOLUTION PROPOSED BY REGENT KROLL WELL, INSTEAD OF BEING VOTED ON RIGHT NOW, WE'LL GO TO THE UNIVERSITY OF PARIS AND GOVERNANCE COMMITTEES.

>> FOLLOWING A REGENT RETREAT.

[01:15:04]

>> I DIDN'T [OVERLAPPING].

>> I THINK EFFIE READ IT.

BUT I THINK THAT WE'RE SPLITTING HAIRS HERE.

I THINK THAT WHAT WE'RE DOING IS WE'RE SAYING, YOU'RE EITHER READY TO DEAL WITH THIS RESOLUTION TODAY OR YOU'RE NOT.

BUT EITHER WAY, IT'S GOING TO MOVE ON TO SOME DIFFERENT VENUES, SOME DIFFERENT AVENUES, THE TIME IS WHEN AND WHERE, CAN BE DECIDED BY THIS REGENT SQUAD.

I DON'T THINK AS A COMMITTEE [OVERLAPPING].

>> NO, THAT'S NOT PART OF MY MOTION. SO I'D LIKE THE CORRECTION MADE, EFFIE.

THAT BECAUSE I BROUGHT UP THIS REGENT RETREAT, UMPTEEN TIMES NOW, THAT THIS FOLLOWS OUR REGENT RETREAT.

SO IF YOU'LL MAKE THAT CORRECTION IN MY MOTION, I'D APPRECIATE THAT.

>> SUE. EFFIE, WHAT DOES SHE NEED TO DO TO CORRECT THAT MOTION? SHE NEEDS TO MAKE THE MOTION [OVERLAPPING]

>> I GUESS, IT WOULD BE AN AMENDMENT TO THE MOTION.

>> ALL RIGHT. IF THAT'S IT, JUST LEAVE IT THEN.

BUT THAT WASN'T MY INTENTION.

>> I THINK WE CAN GET THERE FROM HERE.

WE'RE NOT TABLING THIS FOREVER.

WE'RE GOING TO MOVE IT ON.

HOW WE MOVE IT ON, I THINK WE CAN SIT DOWN LIKE GROWN-UP ADULTS WHO TALK ABOUT IT.

>> SO SUE'S MOTION HAS TO DO WITH TABLING JACKS AND MOVING THIS TO UNIVERSITY AFFAIRS, AND TO GOVERNANCE COMMITTEE.

THAT'S WHAT WE'RE VOTING ON.

WE'VE HAD DISCUSSION.

EFFIE, WILL YOU DO ROLL CALL?

>> YES. REGENT CARSON?

>> REGENT GANAHL?

>> REGENT RACHEAL GRIEGO?

>> I'M FINE WITH THIS, YES.

>> THAT PASSES SIX TO THREE.

>> WE CAN LOOK TO TOUCH BASE WITH BOTH SIDES REGENT KROLL.

>> SO WE HAD, SO JUST TO BE CLEAR, WE HAD THREE REGENTS WHO DID NOT WANT TO REFER THIS RESOLUTION ON.

>> I THINK THAT [OVERLAPPING]

>> I THINK WE NEED TO VOTE ON IT TODAY.

OKAY. SO YOU DIDN'T WANT TO REFER IT THEN SINCE IT WAS TABLED, YOU DIDN'T WANT TO REFER IT?.

I JUST WANTED TO MAKE SURE WE'RE CLEAR.

>> I WANTED TO VOTE ON IT TODAY [OVERLAPPING] PUTTING IT OFF INDEFINITELY, WHICH IS ESSENTIALLY WHAT WE'RE DOING, BECAUSE YOU HAVE THE VOTES TO CONTROL WHAT HAPPENS IN THOSE COMMITTEES, IS A WRONG THING TO DO.

THERE'S NO REASON WHY YOU SHOULDN'T BE ENABLED A VOTE [OVERLAPPING]

>> THERE'S NO CONTROL. THIS ISN'T ABOUT CONTROL, IT'S ABOUT ALL VOICES BEING HEARD.

>> I THINK THAT THE VOTE IS OVER WITH.

>> YES.

>> IF YOU NOT TO MAKE COMMENT AT THIS POINT.

>> I WOULD ASK REGENT [INAUDIBLE] TO SIT BACK AND TAKE A COUPLE OF DEEP BREATHS BEFORE WE MOVE ON TO THE NEXT ITEM.

[OVERLAPPING] I DON'T BELIEVE THAT THIS IS HOW REGENTS CONDUCT THEMSELVES OR THEY WERE ON ZOOM OR IN PUBLIC OR NOT.

I'M FAIRLY DISAPPOINTED.

WE'RE GOING TO TAKE A COUPLE OF REST AND WE HAVE A LOT YET TO FINISH AND WHEN YOU FINISH WITH YOUR BREATHING, JACK KROLL AND TODD WILL COME BACK AND DO A FINANCE COMMITTEE DISCUSSION AND ACTION ITEMS.

>> AS I MAY REMARK, THE FINANCE COMMITTEE IS THE MOST EXCITING COMMITTEE.

[G. 1:50 p.m. FINANCE COMMITTEE DISCUSSION AND ACTION ITEMS]

SO WE'RE GOING TO MOVE ON AND WRITE A NEW CHAPTER FOR THIS MEETING.

I APPRECIATE EVERYONE'S DISCUSSION.

GLENN, WOULD YOU LIKE ME TO START NOW OR WOULD YOU WANT TO TAKE MAYBE TILL 2:30 TO HAVE A QUICK BREAK AND THEN WE CAN GET ROLLING.

>> I WOULD LIKE TO MOVE FORWARD.

>> OKAY. I WILL UPDATE EVERYBODY THEN.

AS I MENTIONED, FINANCE BEING THE MOST EXCITING COMMITTEE THAT THE BOARD OF REGENTS OFFERS TO THE PUBLIC AND FOR OURSELVES.

WE HAD A GREAT MEETING THIS LAST GO AROUND.

WE APPROVED A NUMBER OF CAPITAL CONSTRUCTION ITEMS, INCLUDING ACTION PLANS, A PRELIMINARY APPROVAL FOR CERTAIN BUILDING PLANS THAT WE APPROVED JUST RECENTLY.

ON THE CONSENT AGENDA, WE ALSO HEARD FROM OUR TREASURE, DAN WILSON.

I MIGHT ADD THAT IT IS ALWAYS FUN TO HEAR FROM OUR TREASURER.

WE'RE GOING TO HEAR FROM HIM LATER NOT ONLY ON AN UPDATE TO OUR INVESTMENT POOLS, BUT ALSO TO ADDRESS SOME OF THE POLICIES WE HAVE ON INTERNAL LOANS.

[01:20:02]

WE ALSO DISCUSSED ALTERING OUR DEBT AGREEMENTS SUCH THAT DAN AND HIS TEAM ARE NOW GOING TO BE ABLE TO BE MORE FLEXIBLE IN DOING SOME REFUNDINGS OVER THE COURSE OF THE NEXT FEW MONTHS.

WE ARE MOVING AWAY TO SOME EXTENT FROM COMMERCIAL PAPER TO, DAN, WHAT'S THE TERM I'M MISSING HERE?

>> VARIABLE RATE DEMAND NOTES.

WHICH IF YOU'RE IN FINANCE, THERE'S SO MUCH FUN.

SO THAT'S A REALLY INTERESTING MOVE THAT WE APPROVE DAN TO TAKE ON THE CONSENT AGENDA.

IT SHOULD SAVE US SOME SIGNIFICANT AMOUNTS OF DOLLARS AND GIVE US SOME INCREASED LIQUIDITY.

TO THAT END, WE HAVE ALSO BEGUN THE PROCESS TO BACKSTOP SOME OF OUR LIQUIDITY BY TAKING OUT A LINE OF CREDIT OR OPENING THE DOOR TO TAKING A LINE OF CREDIT AS A RESULT OF KINDA MOVING TO SOME OF THOSE VARIABLE RATE DEMAND NOTES.

TODD ARE YOU ON TODAY? DID I MISS ANYTHING?.

>> NONE, YOU COVERED IT ALL. THANK YOU.

>> ALL RIGHT. I GOT TO SAY ONE LAST TIME.

IT IS THE MOST EXCITING COMMITTEE AROUND, CASH MOVES EVERYTHING AROUND ME.

SO COME AND JOIN US WHENEVER YOU LIKE AT THE FINANCE COMMITTEE.

WITH THAT, I THINK, I'M GOING TO MOVE NOW.

WE HAVE AN INFORMATION ITEM FROM OUR TREASURER ON OUR QUARTERLY REPORT.

>> [NOISE] GOOD AFTERNOON REGENTS.

I'M GOING TO SHARE SOME SLIDES WITH YOU, A FEW MORE THAN I NORMALLY DO.

SO I APOLOGIZE FOR THAT.

WE'RE WARM YOU UP FOR TODD, WHO'S UP NEXT ON THE BUDGET.

SO IS MY SCREEN BEING SHARED NOW?

>> I DON'T SEE IT DAN, THERE IT GOES.

>> OKAY. WELL, WE'RE GOING TO FOCUS ON LIQUIDITY.

SO I CHOSE THIS PICTURE SINCE IT'S A LITTLE WATERFALL WITH THE LIQUID BRINGING INTO OUR POOL, WHICH IS VERY IMPORTANT AS WE GO THROUGH THIS PANDEMIC.

I'M GOING TO GO THROUGH THE TREASURER'S REPORT, WHICH THIS IS PAGE 4 OF THAT REPORT WHICH YOU RECEIVED, THE NINE PAGE REPORT THAT'S IN THE BOARD PACKAGE.

A TOTAL ASSETS.

WE'RE LOOKING NOW BACK AT MARCH 31, WHICH SEEMS LIKE A LONG TIME AGO, BUT THAT'S OUR LAST QUARTER END.

SO OUR QUARTER AND BALANCE WAS 2.247 BILLION, WHICH IS 29 BILLION LOW, OR 29 MILLION LOWER THAN IT WAS IN DECEMBER, AND 40 MILLION LOWER THAN IT WAS 12 MONTHS AGO.

THAT DECREASE IS DUE MAINLY TO MARKET DECLINES IN FEBRUARY AND MARCH OF 2020.

AT 3/31/20, THE PORTFOLIO CONSISTS OF 52.5 PERCENT IN CASH AND ENHANCED CASH AND FIXED INCOME ASSETS AND 47.5 IN EQUITY ASSETS.

FOR THE EQUITY ASSETS, 9.4 PERCENT IS IN OUR CU FOUNDATION LONG-TERM INVESTMENT POOL, 18 PERCENT IS IN GLOBAL AND INTERNATIONAL EQUITY AND 19.9 PERCENT IN DOMESTIC EQUITY.

THE MARCH QUARTER END IS ONE OF THE HIGH POINTS IN LIQUIDITY ENHANCED CASH, WHERE THAT REPRESENTS 22 PERCENT OF THE ASSETS OR 498 MILLION COMPARED TO 499 MILLION A YEAR AGO.

AS WE'VE TRACKED LIQUIDITY VERY CLOSELY, DAY-TO-DAY, WE HAVE SEEN APRIL, MAY BALANCES BE SLIGHTLY HIGHER THAN THEY WERE A YEAR AGO.

AS OF JUNE 17TH, OUR LIQUIDITY BALANCE BOUNCE YESTERDAY SITS AT 375 MILLION COMPARED TO 272 MILLION A YEAR AGO.

PART OF THE REASON THAT IS POPPED OVER A 100 MILLION IS BECAUSE WE DID RECEIVE THE CASH FROM THE CARES FUNDING OF A 127.8 MILLION ON MAY 21ST.

THAT CASH IS IN OUR BALANCE SHEETS, 90 PERCENT OF THE TREASURY POOL CAN BE CONVERTED TO CASH WITHIN 30 DAYS,

[01:25:06]

AND A LARGE PORTION OF THAT WITHIN A WEEK.

LIKE MOST PEOPLE, I ENJOY A GOOD SHAKE OF A SNOW GLOBE.

THIS PANDEMIC HAS BEEN LIKE A WORLD SNOW GLOBE BEEN TURNED UPSIDE DOWN AND UPHEAVE.

THE FLAKES ARE SETTLING OUT AND A NEW REALITY IS STARTING TO BE REVEALED.

BUT WE'RE LIVING IN THAT WORLD OF UPHEAVAL AND THEN ATTEMPTING TO THRIVE.

ONE OF THE THINGS THAT'S HAPPENED IN THIS UPHEAVAL IS THE FED INTERVENED VERY RAPIDLY AND VERY EFFECTIVELY, AND THEIR FALL PLAYBOOK HAS BEEN DEPLOYED AND HAS CREATED A BEAR MARKET RALLY.

WE HAVE NOT RE-BALANCED OUR PORTFOLIO AS WE ORDINARILY WOULD IN JUNE, TAKING GENERALLY SOME EQUITY ASSETS OR SOME CASH AND MOVING IT TO EITHER FIXED INCOME OR EQUITY.

WHAT WE'VE DONE IS KEPT AS MUCH LIQUIDITY AS WE CAN.

SO JUST QUICKLY, THE COORDINATOR RETURNS FOR DOMESTIC EQUITY, AS MEASURED BY THE S&P, WE'RE DOWN 19 PERCENT AS OF MARCH 31.

IF YOU FOLLOW THE MARKET FROM FEBRUARY 19TH, THE MARKET HIGH, TO MARCH 23RD, THE MARKET LOW, THE S&P 500 DECLINED 34 PERCENT, WHICH PUTS IT IN A RECESSION TERRITORY.

SINCE THE LOW THE MARKET HAS RECOVERED TO POSITIVE TERRITORY ON JUNE 8TH, JUST EARLIER THIS MONTH, AND AS OF YESTERDAY, WE'RE SITTING ON A YEAR-TO-DATE, RETURN ON THE S&P OF NEGATIVE 3.63 AND FOR A YEAR A POSITIVE 9.88.

SO RIGHT NOW, OUR RECOVERY HAS BEEN V-SHAPED WITH OUR CURRENT PRICING OF EQUITY.

OF THE NINE US EQUITY SIDE, IT WAS DOWN 21.4 PERCENT AT MARCH 31, AND IT'S CURRENTLY YEAR-TO-DATE STILL DOWN AT NEGATIVE 8.87 PERCENT.

THE BRIGHT SIDE OF MY REPORT HERE IS THAT THE US AGGREGATE BOND INDEX, WHICH REPRESENTS 30 PERCENT OF OUR SEGMENT THREE ASSETS RETURNED 3.15 PERCENT OVER THE QUARTER AND 8.93 PERCENT FOR THE YEAR.

AT THIS MEETING, I PROVIDE THE BOARD A COMPREHENSIVE UPDATE ON OUR EXTERNAL DEBT.

THE BALANCE OF OUR EXTERNAL DEBT AT THE END OF MARCH WAS 1.752 BILLION.

BUT ON JUNE 1ST, WE PAID OFF PRINCIPAL OF OVER A 100 MILLION AND IT CURRENTLY SITS AT 1.644 BILLION.

WE ALSO HAVE COMMERCIAL PAPER OUTSTANDING OF 50 MILLION, WHICH WILL BE PAID OFF AND GO TO 0 ON JULY 1ST WHEN WE ISSUE VARIABLE RATE DEMAND NOTES.

ONE OF THE OTHER THINGS I HAVE NOT PREVIOUSLY TALKED TO THE BOARD ABOUT, BUT I WANTED TO SHARE TODAY IS WHAT OUR WEIGHTED AVERAGE COST OF CAPITAL.

SO THIS IS TAKING ALL OF OUR OUTSTANDING BONDS AND DETERMINING HOW MUCH THE AVERAGE COST OF THAT CAPITAL IS AND I SHOW THAT NUMBER ON THIS SLIDE.

LAST CALCULATION SHOWED US AT 2.675 PERCENT, AND THAT'S BASED ON A 10 YEAR CALL.

IT'S A LITTLE BIT HIGHER IF THAT DEBT WAS HELD TO MATURITY.

IN 2016, A YEAR AFTER I FIRST ARRIVED HERE WE DID THAT CALCULATION, OUR CAPITAL COST AND AT THAT POINT IT WAS 3.12 PERCENT.

SO OVER THE LAST FOUR YEARS, WE'VE BEEN ABLE TO BRING DOWN THE COST OF OUR TOTAL CAPITAL BY A 0.5 PERCENT, WHICH DOESN'T SOUND LIKE A LOT BUT IT ADDS UP IN TERMS OF CLASS TO THE CAMPUSES.

OUR CREDIT RATINGS REMAINS STABLE.

WE JUST GOT AN UPDATE FROM FITCH ON THE DEBT WE'RE GOING TO ISSUE TODAY, AND THEY HAVE GIVEN US THE SAME DOUBLE A PLUS RATING STABLE.

WE EXPECT MOODY'S WILL RATE US ON MONDAY.

NOW THAT CONCLUDES MY FIRST AGENDA ITEM, WHICH IS THE TREASURER'S REPORT AND I'M LOOKING TO SEE IF THERE ANY QUESTIONS.

[01:30:01]

>> DAN WHAT'S THE BEST GUESS FOR MOODY'S?

>> THAT WAS MY QUESTION TOO, DAN.

>> WE THINK THAT WE PRESENTED ENOUGH INFORMATION, THAT WE HAVE ENOUGH KNOWLEDGE ABOUT HOW FALL IS GOING TO LOOK, THAT WE THINK THEY'LL GIVE US A STABLE RATING AS WELL.

BUT THEY'RE AN INDEPENDENT BOARD THEY'LL DECIDE.

>> ALL RIGHT. ARE THERE ANY OTHER QUESTIONS OR CAN WE HAVE DAN MOVE ON?

>> SO I'M GOING TO MOVE ON TO THE NEXT ITEM ON THE AGENDA, WHICH IS THE CURRENT AND FORECASTED DEBT RATIOS AND THE FOURTH ITEM ON THE AGENDA, WHICH IS REVENUE BOND, BUDGET REPORTS OF KIND OF MERGE THESE TWO TOGETHER.

SO WE'LL JUST GO THROUGH THEM AND SEE IF THERE ARE ANY QUESTIONS.

FIRST OF ALL, WE'RE REQUIRED BY THE STATE TO PREPARE EACH OF THE CAMPUS PREPARES REPORTS EACH YEAR, WHICH COME THROUGH THE TREASURER'S OFFICE TO CERTIFY OUR COMPLIANCE WITH OUR DEBT.

THEY CERTIFY PRIVATE USE, THEY CERTIFY A 125 PERCENT REVENUE COVERAGE TO SUPPORT THAT SERVICE, AND THAT ALL OUR COMPLIANCE REQUIREMENTS HAVE BEEN MET FOR THE BONDS.

A DETAIL COMPLIANCE INFORMATION REPORT WAS SHARED WITH THE REGION-IONIC COMMITTEE ON JUNE 10TH, AND I'M NOW INFORMING THE BOARD THAT WE HAVE MET OF THE COMPLIANCE REQUIREMENTS.

ANNUAL, WE ALSO FORECAST THAT SERVICE RATIO, WHICH IS A CALCULATION OF THE MAXIMUM DEBT SERVICE LOAD THAT WE ARE PAYING DIVIDED BY OUR EXPENDITURES AND MANDATORY TRANSFERS.

NOW, THIS REPORT THAT YOU'RE SEEING IN FRONT OF YOU REFLECTS TWO SOLID LINES.

A BLACK LINE IS THE ESTIMATE OF THE DEBT SERVICE RATIO WITHOUT BOARD APPROVED PROJECTS AND THE HIGHER GOLD LINE IS THE ESTIMATE WITH BOARD APPROVED PROJECTS.

AS YOU CAN SEE, THEY'RE VERY CLOSE TOGETHER, AND THERE IS A SMALL BUMP UP IN FISCAL YEAR 21, WHICH IS A REFLECTION NOT OF THE DEBT COSTS RISING, BUT OF OUR EXPECTED DENOMINATOR EXPENDITURES AND TRANSFERS GOING DOWN.

SO THAT CHANGES THE RATIO SLIGHTLY UP.

ALSO, YOU'LL NOTE ON THIS CHART THERE IS A DOTTED GRAY LINE AT 7 PERCENT.

REGENT SHOEMAKER ASKED ME YEARS AGO TO ADD THAT, SO IT'S A REFLECTION OF THE REGENT POLICY WE'RE TRYING TO STAY BELOW.

IN TERMS OF WHAT THE REGENT'S WOULD LIKE, THE STATE HAS SAID 10 PERCENT REGENTS SUBSET 7 PERCENT.

WE'RE TYPICALLY ARE VERY CONSERVATIVE AND AS WE BUDGET AND FORECASTS DEBT, WE TRY TO ESTIMATE ACROSS ACCURATELY BUT CONSERVATIVELY.

THE NEXT CHART SHOWS YOU A HISTORICAL COMPARISON GOING BACK TO FISCAL YEAR 11 OF OUR FORECASTS THE DEBT RATIOS COMPARED TO OUR ACTUAL DEBT RATIO.

SO FOR EXAMPLE, WE FORECAST A RATIO OF 4.4 PERCENT IN FISCAL YEAR 18 AND ACTUAL IS LOWER AT 3.84 PERCENT.

IN FISCAL YEAR 19, WE FORECAST 3.92 PERCENT AND THE ACTUAL IS 3.57.

THERE'S TWO THINGS THAT I'LL MENTION THAT CONTRIBUTE TO THIS PATTERN OF OUR ACTIONS COMING IN BELOW BUDGET.

ONE IS THAT OUR EXPENDITURE AND TRANSFERS NUMBER HAS GROWN FASTER THAN PREDICTED AND THE SECOND IS INTEREST RATES ARE DECREASED.

AS I MENTIONED EARLIER, OUR WEIGHTED AVERAGE COST OF CAPITAL HAS COME DOWN BY 50 BASIS POINTS OVER THE LAST FOUR YEARS.

>> DAN, CHIME ME IN.

UNFORTUNATELY, DUE TO THE RESOLUTION THAT I BROUGHT, I HAVE SLOWED US DOWN ON OUR AGENDA TODAY.

SO IF I COULD ASK YOU AS A RESULT OF MY BRINGING THAT FORWARD, IF WE CAN MOVE THROUGH THIS A BIT QUICKER.

>> OKAY. SO I HAVE ABOUT FIVE MORE SLIDES. I'LL GO VERY QUICKLY.

THIS NEXT CHART IS OUR CURRENT SKYLINE OF DEBT SERVICE, SHOWING OUR PRINCIPAL AND INTEREST BY YEAR.

[01:35:04]

WHILE IT'S ONE COLOR, IT'S MADE UP OF 22 SPECIFIC DEBT SERIES.

IT BASICALLY SHOWS RIGHT NOW FOR THE NEXT FIVE OR SIX YEARS, WE'RE PAYING ABOUT A 130 MILLION TO A 137 MILLION IN ANNUAL DEBT SERVICE.

WE CAN SEE THAT IN FISCAL YEAR 25, THAT'S OUR MAXIMUM DEBT SERVICE YEAR.

BUT GENERALLY FOR THE NEXT YEARS, IT'S ABOUT THE SAME.

THE SCHEDULE I'M GOING TO SHOW YOU NEXT.

THIS SCHEDULE IS WHAT OUR DEBT WILL LOOK LIKE WHEN WE RESTRUCTURED ON JULY 1ST.

NOW THIS PLAN TO MAJORLY SHIFT SOME OF OUR DEBT FOR HOUSING AND DINING OUT FURTHER, PRODUCING ABOUT 90 MILLION IN CASHFLOW SAVINGS IN FISCAL YEAR 21 AND 22.

I'M GOING TO TOGGLE BACK BETWEEN THESE, JUST SO YOU CAN SEE THE FRONT END OF THIS SLIDE CHANGE.

SO THAT'S WHAT IT LOOKS NOW, THAT'S WHAT IT'S GOING TO LOOK LIKE.

SO YOU CAN SEE THAT THE FRONT END IS GOING DOWN IN TERMS OF WHAT WE'RE GOING TO PAY.

>> TELL WHAT YOU MEAN BY YOU'RE EXTENDING SOME [INAUDIBLE] AND SERVICES OUT LONGER.

ARE YOU'RE JUST REFINANCING FOR A LONGER PERIOD OF TIME?

>> YEAH. WE'RE ISSUING OR RESTRUCTURING DEBT ABOUT $90 MILLION, THAT WILL SAVE ABOUT 90 MILLION IN CASH FLOW.

THE REGENTS HAVE APPROVED THIS AT A 150, BUT WE'RE ONLY GOING TO DO 90 MILLION BECAUSE THAT'S WHAT CAMPUSES NEEDS ARE.

>> SO EXTENDING THOSE TIMELINES OUT WON'T DO ANYTHINGS TO OUR CREDIT RATING, OR OUR DEBT LOAD, ANY OF THESE? [NOISE]

>> WELL, AS YOU CAN SEE THE DOTTED LINES ON THIS CHART, SOME OF THE DEBT GOES OUT TO OF 41, 42, 43.

WHAT WE'VE REALLY DONE IS EXTEND EXISTING DEBT REALLY BY A LITTLE OVER A YEAR.

AGAIN, WE DON'T KNOW PINCHES ALREADY RATEDNESS AND RADIUS IS STABLE.

WE DON'T KNOW WHAT MOODY'S IS GOING TO SAY, BUT WE BELIEVE THIS IS GOOD PLANNING AND ALLOWS US FLEXIBILITY IN FISCAL YEAR 21 AND 22.

>> FOR ONE YEAR [NOISE] WHAT IT DOES IS IT FREEZES UP CASHFLOW, WHICH IS IMPORTANT NOW.

>> RIGHT. IT WILL FREE UP ABOUT 65 MILLION IN FISCAL YEAR 21 AND THE REST IN FISCAL YEAR 22.

[NOISE]

>> YEAH. WE'RE ALSO PLANNING AS JACK MENTIONED, TO ISSUE 225 MILLION OF VARIABLE RATE NOTE TO FUND OUR ONGOING CONSTRUCTION AND TO TAKE OUT A REFUND OR COMMERCIAL PAPER.

WE'RE GOING TO KEEP THIS DEBT IN A VARIABLE RATE LOW DURING THE CONSTRUCTION PERIOD FOR THESE PROJECTS, AND IT HAS A BANK SUPPORTED CREDIT FACILITY SO THAT WE DON'T HAVE ANY LIQUIDITY RISK.

IF WE CAN'T MARKET THIS PAPER.

IT WILL BE SOLVED ON A DAILY AND WEEKLY RESET BASIS, MEANING INTEREST RATES RESET THAT OFTEN.

CURRENTLY, DAILY'S ARE RESETTING IN ABOUT THREE BASIS POINTS WHICH WOULD BE THREE ONE HUNDREDTHS OF A PERCENT, AND ALL IN, IT'S UNDER 50 BASIS POINTS FOR [NOISE] THAT.

WE'RE ALSO GOING TO HAVE A WEEKLY RESET.

THAT DEBT IS THIS BLUE TIP THAT WHAT I'VE ADDED ON THIS GRAPH.

AS YOU CAN SEE, IT GOES UP AND WE PLAN TO FIX IT OUT IN FY25.

SO THAT'S WHEN THE DEBT SERVICE KICKS IN AT A LITTLE BIT HIGHER.

THE PROJECTS THAT ARE BEING FUNDED ARE ALL PROJECTS THAT WERE UNDERWAY PRE-COVID.

SO I MADE MUSIC WHICH IS 80 PERCENT DONE, AND THE ANSCHUTZ HEALTH SCIENCES BUILDING AND THE BASEMENT BUILD OUTS OUT AT ANSCHUTZ.

SO THOSE ARE THE PROJECTS THAT THIS IS PAYING FOR.

FINALLY, WE'LL GO THIS VERY QUICKLY.

THIS IS A FUTURISTIC LOOK AT WHAT THAT MIGHT LOOK DEPENDING ON FUTURE BOARD DECISIONS.

IF WE CONTINUE TO BORROW ABOUT A 150 MILLION A YEAR, GIVING IT A TWO-YEAR REST, STARTING IN FISCAL YEAR 24, BORROWING ABOUT 1.5 BILLION OVER THE NEXT DECADE, ADDING ABOUT A 150 MILLION A YEAR.

THAT'S WHAT THAT SERVICE WOULD LOOK LIKE.

NOW THIS IS A VERY FUTURISTIC THING,

[01:40:03]

AND WILL COMPLETELY DEPEND ON BOARD DECISIONS AND PROJECTS.

BUT I JUST WANTED TO GIVE AN IDEA OF WHAT IT MIGHT LOOK LIKE.

>> SO WOULD THAT KEEP US AT ABOUT FOUR PERCENT OR UNDER FOUR PERCENT IF THAT CAME TO PASS?

>> THAT'S A GOOD QUESTION. IT'LL REALLY BEEN GROWING FAST ENOUGH THAT THIS WOULD PROBABLY KEEP OUR RATIO VERY SIMILAR TO WHAT IT IS.

MAYBE VALUING A LITTLE BIT.

>> FINALLY, THIS IS A BAR CHART REFLECTING SAVINGS ON DEBT REFUNDING, THE GROSS AND PRESENT VALUE.

THE BLACK IS THE GROSS SAVINGS, THE GOLD IS THE PRESENT VALUE SINCE FISCAL YEAR 11.

THIS CHART DOESN'T REFLECT SAVINGS WE'VE ACHIEVED IN OUR COMMERCIAL PAPER PROGRAM OVER THE LAST TWO YEARS, WHICH YOU ADD ABOUT 10 MILLION IN SAVINGS.

ALSO, WE ARE CONTEMPLATING, RIGHT NOW, THE RATES HAVE MOVED IN OUR FAVOR AGAIN.

ANOTHER TAXABLE REFUNDING OF ABOUT 62 MILLION, WHICH WOULD ADD 3.4 MILLION OF GROSS SAVINGS TO THIS CHART.

SO IF RATES ARE FAVORABLE IN THE NEXT TWO WEEKS, WE WILL ALSO REFUND SOME DEBT.

SO THAT'S MY INFORMATION ITEMS. NOW MOVING TO THE ACTION ITEM WHICH I HAVE.

>> DAN, IF I COULD JUST QUICKLY INTRODUCE THIS ACTION ITEM.

SO FOR THE BOARD MEMBERS, I HAD ASKED THAT THIS NOT BE ON THE CONSENT AGENDA BECAUSE I WANT TO MAKE SURE THAT AS WE HEAD INTO THE FUTURE YEARS, WE HAVE A CLEAR UNDERSTANDING OF WHO HAS BORROWED FROM THE MAIN TREASURY POOL AND FOR WHAT PURPOSES.

I THINK IT'S REALLY IMPORTANT FOR US TO UNDERSTAND HOW THE CAMPUSES ARE TAKING ADVANTAGE.

IF THEY EVEN TAKE ADVANTAGE OF THESE WORKING CAPITAL LINES OF CREDIT AND WHAT THEIR INTENDED USE WOULD BE FOR.

SO I HOPE THIS DISCUSSION CAN GO QUICKLY.

I THINK THIS IS A VERY IMPORTANT THING FOR US TO TRACK, PARTICULARLY AS WINTER HAS COME AND WE MAY HAVE SOME CAMPUSES THAT NEED ADDITIONAL SUPPORT.

BUT WE WANT TO MAKE SURE THAT EVERYBODY IS AWARE OF WHAT THAT SUPPORT'S GOING FOR AND HOW MUCH IS BEING LENT.

>> TOTALLY AGREE JACK. I TOTALLY AGREE.

>> THANK YOU, JACK. JUST JUST AS BACKGROUND FOR THE BOARD, THE BOARD HAS AUTHORIZED AN INTERNAL LINE OF CREDIT FOR CAPITAL PROJECTS OF $60 MILLION.

OF THAT 60 MILLION, THREE MILLION HAS BEEN BORROWED BY THE CAMPUSES.

SO NOT MUCH OF IT IS CURRENTLY BEING UTILIZED.

THIS RESOLUTION THAT'S IN YOUR BOARD PACKAGE IN WHICH IS PRESENTED ON THIS SLIDE, IS FOR A MORE FLEXIBLE LINE OF CREDIT TO SUPPORT WORKING CAPITAL, MEANING OPERATIONS, NOT JUST FOR CAPITAL PROJECTS.

SO THIS 55 MILLION WOULD BE ABLE TO SUPPORT THEIR CAMPUS OPERATIONS DURING THE NEXT THREE YEARS.

IT WOULD BE EFFECTIVE IN FISCAL YEAR 21 AND GO FOR THREE YEARS AND JUST ALLOWS OPERATIONAL FLEXIBILITY FOR AREAS WHERE THE CAMPUS MIGHT HAVE A SHORTAGE BETWEEN THEIR REVENUE AND EXPENSES, AND THEY COULD DRAW ON THIS LINE TO COVER THAT.

WE HAVE A COUPLE OF REGION POLICIES THAT GOVERN THIS.

ONE IS IN 1993, OR THE REGION SET A LIMIT ON ONLY USING 15 PERCENT OF THE TREASURY POOL.

THIS WOULD BE WELL BELOW THAT, ALSO THIS BORROWING WOULD STILL STAY WITHIN THE LIMIT OF SEVEN PERCENT DEBT SERVICE RATIO THAT THE REGENTS HAVE SET.

BUT I THINK THIS IS JUST A FLEXIBILITY OPTION FOR THE CAMPUSES AND THEY ALL SEEM VERY HIGHLY IN FAVOR OF IT.

>> DISCUSSION ON THIS OR CAN WE MAKE A MOTION TO APPROVE ACTION ITEM F5, INTERNAL WORKING LINES OF CAPITAL OR WORKING CAPITAL LINES OF CREDIT.

>> JACK GO AHEAD AND ASK FOR A FIRST AND SECOND ON THAT. [OVERLAPPING]

>> YEAH. I'LL TAKE THE STEP OF JUST MOVING TO APPROVE ACTION ITEM F5, INTERNAL WORKING CAPITAL LINES OF CREDIT.

>> I DID. HE HAVE SECOND IT.

>> THAT'S CHANCE.

.>> WHO DID THAT MOTION?

>> OKAY, AND CHANCE SECOND IT.

CALL FOR THE VOTE, JACK.

[01:45:02]

>> IS THERE ANY OPPOSITION TO THIS? APPROVAL BY ACCLAMATION.

OKAY. HEARING NO OPPOSITION THAT HAS BEEN ADOPTED.

THANK YOU VERY MUCH, TREASURER WILSON.

I THINK THAT THE REALITY IS THAT AS WE HEAD INTO THE COMING FISCAL YEARS, OUR BUDGET WILL FACE CONTINUAL STRAINS FROM A DECLINE IN STATE FUNDING, PERHAPS AN IMPACT TO ENROLLMENT, RESEARCH FUNDING, AUXILIARY RESOURCES, AND THE WORK THAT YOU ALL HAVE DONE IN THE TREASURER'S OFFICE ALONG WITH OUR CFO'S FROM THE CAMPUSES IS INCREDIBLE.

YOU ALL HAVE FIGURED OUT A WAY TO REALIZE SIGNIFICANT CASH FLOWS FOR US.

THAT MEANS MORE PEOPLE GET TO REMAIN EMPLOYED BY THE UNIVERSITY.

THAT MEANS OUR ACADEMIC QUALITY IS SIGNIFICANTLY INCREASED.

SO WHILE I'M A BIT TONGUE AND CHEEK SOMETIMES ABOUT THE WORK WE DO ON THE FINANCE COMMITTEE.

IT LITERALLY HAS IMPACTS ACROSS THE UNIVERSITY AND ACROSS THE STATES ECONOMY.

SO THANK YOU VERY MUCH, TREASURER WILSON, FOR ALL OF YOUR WORK ON THAT.

>> JACK, ALSO THANK YOU FOR THE ATTENTION THAT YOU'VE PAID TO THIS, AS A CHAIR OF THE FINANCE COMMITTEE AS WELL.

SO GOOD WORK.

OUR NEXT ITEM IS UPDATE ON THE HISPANIC SERVING INSTITUTIONS, UNIVERSITY OF COLORADO OF DENVER, CHANCELLOR DOROTHY HORRELL.

>> YES. THANK YOU VERY MUCH, CHAIR GALLEGOS.

I'M DELIGHTED TO GIVE YOU A VERY BRIEF UPDATE ON THE STATUS OF THE DESIGNATION AS AN HSI INSTITUTION PERCEIVED DENVER.

JUST A QUICK REMINDER THAT ON THE SCREEN SHARE THAT YOU'VE SEEING, ON THE LEFT-HAND SIDE IS THE DEFINITION OF WHAT AN HSI IS.

ON THE RIGHT SIDE, IT INDICATES THE STEPS THAT HAVE TO BE TAKEN IN ORDER TO BE ABLE TO EVEN APPLY FOR HSI STATUS, AND THAT WE MUST DEMONSTRATE OUR ELIGIBILITY FOR TITLE III AND V FUNDING AND THAT RELATES TO THE PERCENTAGE OF PELL GRANT ELIGIBLE STUDENTS AND THE CORE EXPENSES PER STUDENT THAT ARE BELOW THE BENCHMARK FOR PEER INSTITUTIONS.

THEN YOU MUST BE ABLE TO SHOW AT LEAST 25 PERCENT HISPANIC UNDERGRADUATE ENROLLMENT.

WE'LL MOVE TO THE NEXT SLIDE, THEN IT SHOWS THE TRAJECTORY OF WHAT HAS HAPPENED WITH LATINX UNDERGRADUATE FTE.

WE ARE APPLYING FOR HSI STATUS FOR BOTH DENVER AND ANSCHUTZ FOR THE UNDERGRADUATE STUDENTS.

SO THAT INCLUDES THE NURSING PROGRAM AT ANSCHUTZ, AND THEN ALL OF THE UNDERGRADUATE STUDENTS AT THE DENVER CAMPUS.

SO YOU'LL SEE THAT IN FALL OF 2019 WE REACH THAT 25 PERCENT MARK, SO THAT HAS BEEN VERIFIED THROUGH OUR RECORDS AND THAT INFORMATION HAS GONE ON TO THE DEPARTMENT OF EDUCATION.

SO THE NEXT STEP IN NEXT SLIDE, THAT WE DID SUBMIT THOSE DATA TO DEMONSTRATE OUR TITLE III AND V ELIGIBILITY.

WE WERE APPROVED BY THE US DEPARTMENT OF EDUCATION IN FEBRUARY.

JUST A SIDE NOTE THAT DENVER ANSCHUTZ RECEIVED A SUPPLEMENTAL OF ABOUT $500,000 IN CARES ACT FUNDING THAT GOES TO INSTITUTIONS THAT HAVE A HIGH PERCENTAGE OF UNDER REPRESENTATIVE MINORITY STUDENTS.

SO THAT WAS A REALLY GOOD THING AND JUST UNDERSCORES WHY WE WANT TO BE ABLE TO DO THIS.

THE NEXT STEP IS THAT WE NOW ARE IN A POSITION TO BE ABLE TO SUBMIT THE FINAL APPLICATION TO THE US DEPARTMENT OF EDUCATION AND WITH COVID AND ALL, THAT'S A LITTLE SLOWER THAN WHAT IT MIGHT HAVE OTHERWISE SPENT, BUT WE'RE EXPECTING TO BE ABLE TO DO THAT IN JANUARY OF NEXT YEAR.

SO I THINK ALL INDICATIONS ARE THAT WE ARE ON TRACK FOR BEING AWARDED HSI AND PLEASED TO BE ABLE TO HAVE THAT HAPPENING AND REALLY APPRECIATE THE SUPPORT OF THE BOARD AND THE ENCOURAGEMENT OF THE BOARD IN MAKING THIS HAPPEN, AND NOT SOMETHING THAT PRESIDENT KENNEDY FEELS STRONGLY ABOUT.

MICHELLE MARKS IS VERY EXCITED ABOUT AS WELL.

SO I'M HAPPY TO RESPOND TO ANY QUESTIONS THAT YOU MAY HAVE.

>> I'D JUST LIKE TO FIRST START AND SAY THANK YOU. YOU KNOW WHAT? I GOT ELECTED IN 2017 [NOISE] AND THE DRUM EVER SO SLOWLY ON THIS.

I APPRECIATE THE PROGRESS AND THE COMMITMENT THAT THE CAMPUS HAS.

I WANT TO HIGHLIGHT TWO THINGS TO MY COLLEAGUES ON THE BOARD THAT I SEE AS BEING REALLY IMPORTANT IN THIS WORK.

FIRST AND FOREMOST, THE MONEY THAT WE RECEIVE OR MONEY THAT WE WOULD RECEIVE

[01:50:05]

AS A HISPANIC SERVING INSTITUTION ACTUALLY CAN BE SPENT ON RETENTION, GRADUATION, AND ENROLLMENT SUPPORT FOR ALL OF OUR STUDENTS.

WE KNOW THAT AT THE DENVER CAMPUS WE HAVE POPULATIONS FROM ACROSS THE WORLD AND ACROSS OUR OWN COMMUNITIES HERE IN COLORADO THAT NEEDS SIGNIFICANT SUPPORT, AND THAT REALLY MEANS A LOT TO ME.

THE SECOND THING IS, IF WE LOOK PURELY AT THE GRADUATION RATES OF COLORADO HIGH-SCHOOL STUDENTS.

WE KNOW THAT THERE IS AN IMPENDING CLIFF IN TOTAL GRADUATES FROM COLORADO HIGH-SCHOOLS COMING RIGHT AROUND THE MIDPOINT OF THIS DECADE.

THERE IS ONE GROUP, HOWEVER, OF COLORADO STUDENTS THAT'S GOING TO CONTINUE TO GROW IN THEIR VOLUME OF HIGH SCHOOL GRADUATES, THAT'S GOING TO BE THOSE COMING FROM OUR LATINX POPULATIONS.

SO I BELIEVE THAT THIS MOVE NOT ONLY AS THE RIGHT MOVE FOR TODAY, TO REALLY ENSURE THAT WE ARE HELPING THE STUDENTS WE ARE SERVING TODAY.

BUT IT WILL REALLY POSITION OUR INSTITUTION TO SERVE THE STUDENTS THAT WE NEED TO SERVE IN THE DECADES TO COME.

SO THANK YOU TO THE DENVER CAMPUS AND THE CAMPUS FOR PUSHING THIS FORWARD, AND WHILE JANUARY 2021 IS A WAYS AWAY, I HOPE THAT AT THAT TIME WE CAN HAVE ANOTHER UPDATE ON THE PROGRESS OF THIS IMPORTANT WORK.

>> GLEN, THIS IS IRENE. I WOULD ALSO LIKE TO THANK DOROTHY AND DAN FOR PURSUING THIS.

IT IS A SITUATION THAT WILL HELP OUR STUDENTS.

I ALSO WANT TO SEND OUT A SPECIAL THANK YOU TO JACK KROLL.

SINCE I'VE KNOW HIM, THIS IS THEN ONE OF HIS TOP PRIORITIES AND HE IS NEVER LET IT DOWN.

I REALLY APPRECIATE HIM CONSTANTLY REMINDING US WHY THIS IS IMPORTANT.

[INAUDIBLE] WE HAVE FUNDING TO HELP THEM AND TO HELP US WITH THE RETENTION OF OUR STUDENTS THAT IS GOING TO HELP US SO MUCH IN MAKING A DIFFERENCE.

SEE YOU IN DENVER CAMPUS ANSCHUTZ AND JACK KROLL.

>> ALL RIGHT. ARE THERE ANY FURTHER QUESTIONS OR COMMENTS FOR CHANCELLOR HORRELL?

>> I WOULD LIKE TO SAY SOMETHING.

FIRST OF, AGAIN, JUST REPEATING WHAT JACK AND IRENE SAID, GREAT JOB, IT'S REALLY EXCITING.

AS WE ALL KNOW, METRO HAS BEEN A HISPANIC SERVING INSTITUTE FOR A FEW YEARS NOW.

I THINK, BECAUSE OF US BECOMING AN HSI, WE WILL BE MORE ATTRACTIVE TO THOSE STUDENTS AND I THINK, LOOKING AT IT IN A COMPETITIVE WAY WE'RE TRYING TO GET THOSE STUDENTS COMING TO OUR SCHOOL.

I THINK IT'S REALLY A GREAT STEP FORWARD.

I HAVE A QUESTION FOR DOROTHY, DO YOU THINK THERE MIGHT BE A LITTLE WRINKLE IN THAT, WE'RE VERY CLOSE TO THAT 25 PERCENT.

SO IT LOOKS LIKE, YOU KNOW, ANY CHANGE IN DROP-OFF OF RECRUITMENT MIGHT GET US BELOW THAT WITH COVID, AND WHAT'S GOING ON WITH THAT.

DO YOU THINK THERE'S A POTENTIAL THAT WE MIGHT FALL BELOW THE 25 PERCENT REQUIREMENT?

>> I THINK THAT'S AN IMPORTANT QUESTION AND CONSIDERATION.

WE DO KNOW THAT WE MAINTAIN THAT FOR SPRING SEMESTER, REGENT SMITH.

SO THAT'S REALLY GOOD NEWS AND WITH THE EFFORTS THAT ARE BEING MADE RIGHT NOW IN TERMS OF OUR SUMMER ENROLLMENT AS WELL AS FALL ENROLLMENT, WE ARE DOING EVERYTHING IN OUR POWER TO MAKE SURE THAT WE RETAIN THE STUDENTS THAT WE HAVE.

WE'RE DOING A SPECIAL FOCUS ON RECRUITING TRANSFER STUDENTS, AND WE KNOW THAT THEY MAKE UP A LARGE PERCENTAGE OF OUR LATINX POPULATION AS WELL.

SO WHILE THERE IS A CONCERN ABOUT THAT.

I THINK THE CAMPUS IS DOING EVERYTHING THAT WE POSSIBLY CAN TO ASSURE THAT WE DON'T FALL BELOW THAT 25 PERCENT MARK?

>> I HOPE SO. NOT THAT YOU'RE NOT TRYING, BUT SOME OF THESE THINGS ARE A LITTLE BIT OUT OF OUR CONTROL RIGHT NOW.

.>> THE OTHER THING THAT I WOULD ADD IS THAT WE ARE MAJORITY COLORADO RESIDENCE, AND WE DO EXPECT THAT RESIDENT ENROLLMENT TO BE STRONGER THAN OUR OUT-OF-STATE AND INTERNATIONAL ENROLLMENT GOING FORWARD, TO HELP IN TERMS OF PERCENTAGES AS WELL.

>> ALL RIGHT. I DO WANT TO MAKE SURE THAT WE MOVE ON HERE.

[01:55:01]

SO I APPRECIATE EVERYBODY'S COMMENTS ON THIS.

AGAIN, THANK CHANCELLOR HORRELL FOR HER WORK.

THE LAST ITEM THAT I HAVE THE PLEASURE OF COVERING IS THE BUDGET FOR THIS COMING YEAR.

SO I'M GOING TO TURN THINGS OVER TO VICE PRESIDENT TODD SALIMAN.

I'M SURE HE HAS A WONDERFUL SLIDE DECK PREPARED.

TODD, YOU'VE HAD THE CHANCE TO MEET WITH ALL OF US INDIVIDUALLY ABOUT THIS BUDGET ITEM.

WE ARE RUNNING A BIT BEHIND TODAY, SO I HOPE THAT WE CAN GET SOME KEY POINTS.

OBVIOUSLY, REGENTS, AS YOU HAVE QUESTIONS, PLEASE BRING THEM FORWARD DURING THIS TIME.

BUT I WANT TO DO OUR BEST TO GET US BACK ON TRACK HERE.

>> GREAT.THANK YOU VERY MUCH AND I WILL KEEP THE CONVERSATION MOVING.

PLEASE INTERRUPT ME IF YOU HAVE QUESTIONS ALONG THE WAY.

CAN YOU ALL SEE THAT.?

>> YES. THAT'S GREAT.

SO THIS IS ALL IN BOARDDOCS, OF COURSE.

PLEASE INTERRUPT AS I MENTIONED, IF YOU HAVE QUESTIONS, BUT ALSO IF YOU LOOK THROUGH THIS LATER AND HAVE OTHER QUESTIONS, PLEASE DON'T HESITATE TO JUST GIVE ME A CALL OR E-MAIL ME.

SO I WON'T SPEND TOO MUCH TIME HERE, JUST A REMINDER OF THE FEDERAL FUNDS THAT HAVE COME TO COLORADO AND TO CU THROUGH THE CARES ACT AND ALSO, AS YOU CAN SEE IN THE LAST FEW BULLETS HERE, JUST A REMINDER THAT WE KNOW LESS ABOUT OUR REVENUE PICTURE NOW THAN WE USUALLY WOULD THIS TIME OF YEAR AND SO, WE'LL BE PROVIDING UPDATES AS WE MOVE ON THROUGH THE YEAR AND GET MORE INFORMATION.

SO HERE YOU CAN SEE SOME ADDITIONAL INFORMATION ABOUT WHAT'S GOING ON IN TERMS OF STATE BUDGET ACTIONS.

ONE REALLY GOOD NEWS POINT THAT WE'RE VERY GRATEFUL TO THE CAPITAL DEVELOPMENT COMMITTEE AND THE JVC AND THE ENTIRE LEGISLATURE FOR THEIR APPROVAL OF SENATE BILL 219 WHICH AUTHORIZE STATE COPS THAT WILL FUND THREE CONTINUATION CAPITAL CONSTRUCTION PROJECTS IN COLORADO, ONE OF WHICH IS THE CU ANSCHUTZ HEALTH SCIENCES BUILDING.

SO WE'RE VERY, VERY GRATEFUL FOR THAT.

YOU CAN ALSO SEE THAT ADDITIONAL FUNDING WAS APPROVED BY THE STATE FOR SOME VERY IMPORTANT CONTROLLED MAINTENANCE PROJECTS ON OUR CAMPUSES.

>> TODD, JUST A QUICK COMMENT.

WE'RE GRATEFUL FOR SENATE BILL 2219 BECAUSE THEY GAVE US PERMISSION TO USE OUR OWN MONEY TO BUILD OUR OWN BUILDING. IS WHAT YOU'RE SAYING?

>> NO. [OVERLAPPING] THAT'S WHAT WE HAD ORIGINALLY THOUGHT WE WERE GOING TO NEED TO DO, BUT THE CDC PURSUED A BILL TO ISSUE COPS AT A STATE LEVEL THAT THE STATE WILL PAY OFF OVER TIME AND THAT WILL GENERATE $22 MILLION FOR THE CU ANSCHUTZ BUILDING.

SO THE STATE REALLY CAME THROUGH FOR US AND WE'RE INCREDIBLY GRATEFUL.

>> THAT IS GOOD NEWS, THANKS.

>> THAT'S PHENOMENAL. TODD AND TANYA, DON FIND A NICE CORNER IN THE BUILDING TO PUT A PLAQUE UP IN COMMEMORATION OF TODD AND TANYA [INAUDIBLE]

>> WE ABSOLUTELY WILL. LET'S BE CLEAR THAT THE CDC DIDN'T COME UP WITH THIS IDEA ON THEIR OWN.

IT WAS TODD AND TANYA WHO DROVE IT AND THEY DID A PHENOMENAL JOB.

>> DON, YOU'RE SO NICE OF [OVERLAPPING]

>> THAT'S SO NICE OF YOU, DON. BUT I ALSO HAVE TO GIVE SOME CREDIT TO OUR GOOD FRIENDS AT CSU.

SO I'LL JUST CALL THEM OUT TO THE [INAUDIBLE] A GREAT COLLEAGUE FOR MANY YEARS AT CSU [NOISE] JUST DID THIS TO SOME FOLKS, AND EQUALLY, THE CDC AGREED WITH HIM.

SO WE'RE GRATEFUL TO EVERYONE INVOLVED.

SO THANK YOU. [OVERLAPPING]

>> [INAUDIBLE] FRANK AND TOM [INAUDIBLE] ALSO FROM FORT LEWIS, ALSO PLAYED CRITICAL ROLES AND DON YOU DID TOO.

WE'RE HAPPY TO HAVE A [INAUDIBLE] DEAN RILEY WAS FANTASTIC BY THE WAY.

[NOISE] WE BROUGHT HIM IN AT CLUTCH MOMENTS, SO WE'RE VERY, VERY GRATEFUL.

>> SO ANYWAY, WHEN YOU SEE OUR GOOD FRIENDS FROM CSU, THANK THEM.

>> THEY'RE NOT GOING ON THE PLAQUE, TODD. JUST YOU AND TANYA.

>> WELL, I DON'T WANT TO TAKE IT TOO FAR.

OKAY. SO WHEN WE TURN TO THE BUDGET FOR THE UPCOMING FISCAL YEAR, THE BUDGET IS SMALLER THAN THE CURRENT FISCAL YEAR, ABOUT 5.3 PERCENT SMALLER AND I'LL BE PROVIDING A LITTLE BIT MORE INFORMATION AS WE GO ON.

BUT YOU'VE SEE HOW THE BUDGETS ARE CHANGING AT EACH OF OUR CAMPUSES.

SO HERE'S THE $4.54 BILLION BUDGET ESTIMATE THAT I JUST MENTIONED AND THIS SLIDE GIVES YOU A 30,000 FOOT PICTURE OF WHERE THE MONEY IS COMING FROM.

HERE, YOU CAN SEE THAT CARES ACT FUNDS THAT ARE

[02:00:01]

COMING INTO THE UNIVERSITY FROM THE FEDERAL GOVERNMENT.

A LITTLE BIT MORE THAN THIS HAS COME TO CU AND SOME OF IT WAS SPENT IN THE CURRENT FISCAL YEAR.

THIS REPRESENTS THE AMOUNT [INAUDIBLE] FOR THE NEXT FISCAL YEAR AND THEN HERE, YOU CAN SEE THAT BECAUSE OF THE TEMPORARY STATE FUNDING CUT, THE STATE FUNDING PORTION OF OUR BUDGET HAS REDUCED DOWN TO 2.6 PERCENT.

BUT WE'RE VERY GRATEFUL THAT THE JVC MADE IT VERY CLEAR THAT THE STATE FUNDING CUT WAS AT ONE TIME REDUCTION.

SO WHERE ARE THOSE FUNDING DIFFERENCES SHOWING UP IN OUR BUDGET? SO HERE YOU CAN SEE THAT THE E&G, EDUCATION AND GENERAL PART OF OUR BUDGET, WHICH IS OUR EDUCATIONAL MISSION IS DOWN, COMPARED TO THE PRIOR YEAR OF ABOUT NEARLY 200 MILLION, AUXILIARY ABOUT 140, AND THEN RESEARCH ABOUT 68 MILLION.

BUT IT'S IMPORTANT TO NOTE THAT THESE NUMBERS WILL BECOME LESS NEGATIVE ONCE WE APPLY THE CARES ACT FUNDS.

WE JUST DON'T KNOW EXACTLY HOW WE'RE SPENDING THOSE DOLLARS YET, BUT WE'VE SET UP A VERY THOROUGH PROCESS INTERNALLY TO MAKE SURE THAT WE'RE ALL SPENDING THE DOLLARS IN COMPLIANCE WITH THE FEDERAL AND STATE GUIDELINES.

THIS PICTURE SHOWS YOU EXACTLY WHICH PIECES OF THE REVENUE PIE ARE CHANGING AND HOW MUCH THEY ARE CHANGING AND OVER ON THE RIGHT, YOU CAN SEE THE CARES ACT COMING IN [NOISE] AND THE BIG REDUCTION, OF COURSE, IS THE 54 PERCENT REDUCTION IN STATE FUNDING.

REMEMBER THAT THE VAST MAJORITY OF THAT IS ONE TIME IN NATURE.

SO WE WERE GRATEFUL AT THE JVC MADE THAT AT ONE TIME REDUCTION.

WHEN IT COMES TO SPENDING [NOISE] THAT $4.54 BILLION, THAT HERE ARE THE BIG SLICES OF THE PIE.

THE HEALTH SERVICES PORTION IS, OF COURSE, JUST TIED TO THE HEALTH SERVICES REVENUE, THAT'S CU MEDICINE, ALSO KNOWN AS UPI, UNIVERSITY PHYSICIANS INC.

WHEN YOU SET THAT ASIDE, OBVIOUSLY THE LARGEST SLICE OF OUR BUDGETARY PIE IS INSTRUCTION.

SO WE'VE ALL BEEN TALKING A LOT ABOUT FURLOUGHS ALONG THE WAY.

THIS SHOWS YOU HOW MANY PEOPLE ARE ACTUALLY GOING TO BE IMPACTED BY FURLOUGHS AND POSITION CONTROL ON OUR CAMPUSES AND A POSITION CONTROL IS ESSENTIALLY KEEPING A POSITION VACANT.

THERE MIGHT BE OTHER THINGS IN THERE AS WELL, BUT IT'S MOSTLY VACANT POSITIONS.

YOU CAN SEE THAT THIS IS GOING TO IMPACT NEARLY 8,000 CU EMPLOYEES AND THE VAST MAJORITY OF THEM WILL HAVE ONE OR IN SOME CASES TWO FURLOUGH DAYS A MONTH AND THE SAVINGS ASSOCIATED WITH THAT IS OVER $100 MILLION. [OVERLAPPING]

>> TODD, [INAUDIBLE] CAN I ASK YOU A QUESTION REAL QUICK ABOUT THAT? ON THE FURLOUGHS WHERE IT'S CONTINUOUS ONE CATEGORY, THE EITHER PARTIAL OR INTERMITTENT, ARE LAYOFFS INCLUDED IN THAT CONTINUOUS FURLOUGH OR WE DON'T HAVE LAYOFFS IN THIS CHART HERE?

>> SO LAYOFFS WOULD BE INCLUDED IN THE POSITION CONTROLS, I BELIEVE, BUT THE FURLOUGHS AND CONTINUOUS FURLOUGHS, IT'S KIND OF A 100 PERCENT FURLOUGH.

BUT THE CAMPUSES ARE HOPING TO BE ABLE TO BRING THOSE FOLKS BACK WHEN THE MANY OF THOSE ARE IN AUXILIARIES WHERE THE REVENUE IS JUST COMPLETELY DRIED UP, BUT WE'RE HOPING THAT THEY DRIED UP ON A TEMPORARY BASIS.

>> OKAY. SO POSITION CONTROLS, THAT NUMBER WOULD INCLUDE LAYOFFS?

>> YES AND YOU CAN SEE DOWN AT THE VERY BOTTOM OF THE SCREEN FOR UCCS IN PARTICULAR, POSITION CONTROLS, IT INCLUDES 39 LAY OFFS.

>> OKAY AND IN THE OTHERS WE DON'T HAVE AN ACTUAL NUMBER OTHER THAN UCCS, WE DON'T HAVE AN ACTUAL NUMBER?

>> I DON'T HAVE IT FOR YOU HERE, BUT I'M HAPPY TO GET THAT FOR YOU.

>> OKAY. THANK YOU, YEAH, I'D LIKE TO KNOW WHAT THAT IS. THANK YOU.

>> SURE.

>> TODD, COULD I JUST MAKE A COMMENT TO THAT? SO REGENT SHARKEY, THE LAYOFFS HAVE BEEN PRIMARILY THE AUXILIARY SIDE, THEY REALLY JUST DIDN'T HAVE ANY WORK FOR THEM.

SO IT WAS A VERY STRATEGIC LAY OFF, IT WAS NOT PICKING UP DIFFERENT FOLK FROM THE CAMPUS [OVERLAPPING]

>> IN WHAT AREA WHERE THEY'VE BEEN, I MISSED THAT.

>> SO THOSE WOULD BE IN THE HOUSING, DINING, TRANSPORTATION KIND OF AREAS WHERE WE JUST DIDN'T HAVE ANY WORK BECAUSE WE HAD CLOSED DOWN THE [OVERLAPPING]

>> OKAY. THANK YOU, I APPRECIATE THAT CLARIFICATION.

>> JUST WANTED TO CLEAR THAT UP FOR YOU.

>> YEAH. THANK YOU.

>> ANY OTHER QUESTIONS ON THIS SLIDE? OKAY, SO AS YOU ALL KNOW,

[02:05:04]

WE'VE BEEN WORKING HARD FOR MANY YEARS TO KEEP OUR ADMINISTRATIVE COSTS IN CHECK AND THIS SLIDE SHOWS YOU HOW WE COMPARE TO OUR PEERS RELATIVE TO ADMINISTRATIVE SPENDING.

THEN THIS SLIDE ALSO GIVES YOU A LITTLE BIT OF INFORMATION ABOUT THAT.

THE GRAY BAR AT THE BOTTOM IS THE PORTION OF OUR BUDGET, THAT IS OF OUR OPERATING BUDGET THAT'S SPENT ON INSTITUTIONAL SUPPORT.

INSTITUTIONAL SUPPORT IS BUDGET SPEAK FOR ADMINISTRATION AND YOU CAN SEE THAT IT'S BEEN FAIRLY STABLE OVER TIME.

WHEN WE LOOK AT TUITION ACROSS THE STATE, TUITION AND FEES, WE NOW HAVE INFORMATION FROM NEARLY EVERY INSTITUTION AROUND THE STATE ABOUT WHAT THEY'RE DOING FOR TUITION AND FEES AND IN THE RIGHT, YOU CAN SEE THE PERCENT CHANGES AT EACH INSTITUTION.

THIS IS IN BOARDDOCS IF YOU WANT TO TAKE A LOOK AT IT IN THE FUTURE.

MOVING ON. [OVERLAPPING]

>> NOT MANY CHANGES IN WHAT OTHER COLLEGES AND UNIVERSITIES ARE OFFERING, TODD, OR CHARGING.

>> MOSTLY. [OVERLAPPING]

>> [INAUDIBLE] GOING EVERY FLAT, RIGHT?

>> YES, [INAUDIBLE] IT'S PRETTY FLAT, YOU CAN SEE PRETTY FLAT INDEED.

>> [INAUDIBLE] CSU WENT 37 BUCKS AND THAT'S PROBABLY A FEE.

>> EXACTLY.

>> THANK YOU. SO THEN, LOOK INTO THE CAMPUSES.

SO LOOKING AT CU BOULDER.

SO WE'VE HAD GOOD NEWS IN TERMS OF SUMMER ENROLLMENT.

SUMMER ENROLLMENT HAS BEEN STRONG, BUT THE FORECASTS FOR THE CAMPUSES AS CU BOULDER, WE ARE EXPECTING ESSENTIALLY A FAIRLY FLAT ENROLLMENT FOR THE FALL, CURRENTLY STABLE ENROLLMENT FOR THE FALL.

YOU CAN SEE THE ACTIONS THAT CU BOULDER HAS BEEN IMPLEMENTING TO KEEP THEIR BUDGET IN BALANCE OR TO BALANCE OUR BUDGET FOR THE NEXT YEAR.

[NOISE] YOU CAN SEE, AND WE'VE BEEN TALKING ABOUT THESE ACTIONS FOR ALL THE CAMPUSES FOR A FEW MONTHS NOW.

OF COURSE, CU BOULDER HAS ANNOUNCED THEIR PLANS FOR THE FALL FOR FALL 2020, AND ALL THE CAMPUSES ARE COMMITTED TO SAFELY WELCOMING STUDENTS BACK AND ARE TAKING QUITE A FEW PRECAUTIONS TO MAKE SURE THAT [NOISE] STUDENTS FACULTY [INAUDIBLE] ARE ALL GOING TO BE SAFE.

>> TODD, WILL YOU GO BACK TO THAT TUITION SLIDE ONE.

I JUST [INAUDIBLE] FOR A QUICK SECOND.

>> YOU'VE HAD IT.

>> YEAH. I WANTED TO SEE WHAT WE'RE CHARGING AT CU DENVER 11,537 AND METRO IS AT NINE, SO THAT'S STILL A BIG DIFFERENCES.

>> IT IS, YEAH. METRO, I THINK THEY'VE ABSOLUTELY BEEN INCREASING TUITION.

I THINK LAST YEAR, TUITION FEES AT METRO INCREASED BY, DOROTHY OR JENNIFER, YOU'LL REMEMBER I THINK IT WAS 13 OR 15 PERCENT [INAUDIBLE] BUT [OVERLAPPING]

>> IT WOULD BE NICER IF THEY WERE A LITTLE BIT CLOSER.

I DON'T THINK THERE'S ANY COMPARISON IN WHERE YOU GET THE BETTER EDUCATION.

BUT PEOPLE LOOK AT 9,093 AND THAT'S 11,537, THAT'S A BIG DIFFERENCE IN WHERE THEY MIGHT CHOOSE TO GO.

>> WHAT'S REALLY INTERESTING AND WHEN WE, IN A LATER PRESENTATION, WHEN WE LOOK AT OUR METRICS, WE LOOK AT THE AVERAGE DEBT LOAD UPON GRADUATION FOR STUDENTS AT ALL OF THE INSTITUTIONS IN COLORADO.

I CAN'T REMEMBER EXACTLY WHAT WERE CU DENVER AND METRO COMPARE.

BUT, I BELIEVE CU DENVER [INAUDIBLE] ON GRADUATION [INAUDIBLE] [NOISE] [OVERLAPPING]

>> I THINK WE'RE LOWER THAN ALMOST ALL OF THEM.

>> THEN DELETE ON THAT HERE.

IT'S ME AROUND A LITTLE BIT HERE.

SO WE'VE TALKED ABOUT WERE THERE ANY QUESTIONS ABOUT CU BOULDERS AND GENERAL OVERVIEW HERE? IF NOT, CU BOULDER'S BUDGET FOR THE NEXT FISCAL YEAR IS PROJECTED TO BE ABOUT 1.6 BILLION.

ONCE AGAIN, THESE ARE ROUGH NUMBERS BECAUSE WE DON'T KNOW EXACTLY WHAT THE REVENUE PICTURE IS GOING TO LOOK LIKE.

[02:10:01]

HERE YOU CAN SEE THE CARES ACT FUNDS AND THEN THE DIRECT STATE FUNDINGS.

WHEN WE LOOK AT THE GREAT PIECES OF THIS PIE, THE OPERATING BUDGET, WE'LL SKIP AHEAD.

YOU CAN SEE THE MAJORITY OF THE OPERATING BUDGET TO CU BOULDER CONTINUED IS PROJECTED TO CONTINUE TO BE FROM NON-RESIDENTS STUDENTS.

WHEN IT COMES TO ENROLLMENT, I MENTIONED THE CU BOULDER WAS EXPECTING FAIRLY STABLE ENROLLMENT OVERALL.YOU CAN SEE THAT COMPARED TO THE PRIOR YEAR, COMPARED TO THE CURRENT YEAR, ALL OF THE CAMPUSES ARE VERY CLEAR THAT THEY DON'T KNOW FOR SURE WHAT THIS IS GOING TO LOOK LIKE BECAUSE BECAUSE THE ABR IS JUST BEING DIFFERENT THIS YEAR.

AS WE KNOW, THAT CU BOULDER NOTABLY SIT IS PROJECTING ABOUT NEARLY AN 18 PERCENT REDUCTION IN INTERNATIONAL STUDENTS OF ABOUT 294 STUDENTS.

BUT THEY HOPE AT THIS POINT THEY BELIEVE THAT THAT WILL BE IN LARGE PART OFFSET BY ADDITIONAL DOMESTIC NON-RESIDENT STUDENTS.

SO THIS IS NOTHING NEW, AND SO I WON'T SPEND TIME HERE.

BUT JUST A REMINDER, EACH, EACH CAMPUS HAS ROUGHLY THE SAME TOOLS IN THIS TOOLBOX SHOULD THEY NEED TO IMPLEMENT ADDITIONAL BUDGET FUNDS.

MOVING ON TO UCCS.

SO AS I MENTIONED EARLIER, UCCS HAS ANNOUNCED THEIR PLANS FOR THE FALL.

UCCS IS EXPECTING LARGER ENROLLMENT DECLINE AT THIS POINT IN TIME, BUT UCCS AND DENVER REALLY DON'T HAVE A GOOD FEEL FOR ENROLLMENT UNTIL LATER IN THE PROCESS.

SO WHILE THEY'RE DOWN AT THIS TIME OF YEAR COMPARED TO PRIOR YEARS, WE DON'T REALLY KNOW EXACTLY WHERE IT'S GOING TO END UP, AND I DON'T KNOW [OVERLAPPING]

>> WHY WOULD BOULDER HAVE SUCH A GOOD IDEA OF THEIR ENROLLMENT WHERE WE DON'T GET DENVER AND YOU SEE HERE, [OVERLAPPING]

>> I THINK IT'S PROBABLY HOUSING. [INAUDIBLE]

>> SO I DON'T KNOW IF CHANCELLOR [INAUDIBLE] IF YOU'D LIKE TO SPEAK TO THAT ABOUT THE TIMING OF YOUR URBAN CYCLE.

>> SURE. I THINK WITH ASIAN GUY [INAUDIBLE] CONTINUOUSLY ENROLL STUDENTS.

WE DON'T HAVE A CLEAN DEADLINE LIKE BOULDER HAS.

SO I THINK THAT CAUSES IT.

ALSO, THE NATURE OF OUR POPULATION IS A SENSE THAT THEY MAY BE WAITING LONGER BECAUSE THEIR FAMILIES MIGHT HAVE [INAUDIBLE] SO I THINK THAT THE TYPE OF STUDENTS DOES HAVE AN IMPACT.

WE'RE ALSO LOOKING AT NATIONAL AVERAGES, WHICH ARE ABOUT 15 PERCENT DROP, SO THAT DEPENDS INTO CONSIDERATION AS WELL.

WE ARE WORKING VERY, VERY HARD TO BEAT THOSE NUMBERS.

I'M LOOKING AT IT AS WE GOT TO DO THE BEST WE CAN AND HOPEFULLY WE'LL EXCEED.

I DON'T WANT TO GIVE [INAUDIBLE] FORECAST AND THEN FALL BELOW THAT.

I THINK THAT WOULD NOT BE APPROPRIATE FOR US TO DO.

SO ABOUT THE WAY WE PLANNED OUR BUDGET AS WELL, IS WE PLANNED FOR A 20 PERCENT REDUCTION, BUT WE DID 50 PLUS FIVE.

SO WE'LL DETERMINE THE REMAINING CUT IN THE CENSUS MONTH.

SO THAT IF WE DO DROP AND WE DROPPED MORE THAN THIS, THAT WE CAN HAVE ADDITIONAL CUT, BUT WE HOPE THAT WE DON'T HAVE TO DO IT.

SO WE ARE PLANNING FOR THE WORST, HOPING FOR THE BEST.

>> TODD, IF I MIGHT JUST ADD THAT.

ANOTHER FACTOR IN THE TIMING OF STUDENT SIGNING UP, BOTH DENVER AND COLORADO SPRINGS, I BELIEVE, AS WELL, HAVE A MUCH HIGHER PERCENTAGE OF TRANSFER STUDENTS AND THEY ARE MUCH SLOWER TO COMMIT THAN INCOMING FRESHMEN ARE.

SO THAT'S WHY THERE IS SOME LAG TIME IN KNOWING EXACTLY HOW THEY'RE GOING TO SHOW UP IN OUR FALL ENROLLMENT.

>> ALSO, AS WE JUST ANNOUNCED THE OPENING.

SO THERE AREN'T SEEING A GOOD TREND.

AS THE HOUSING OPENS, WE'LL START GETTING A MUCH BETTER PREDICTION.

SO WE'LL BE HAPPY TO REPORT TO YOU AS THESE THINGS EVOLVE AND WE'RE TRYING TO BE THOUGHTFUL ABOUT [INAUDIBLE] THIS IS WHY WE'LL BE PROVIDING MORE THOROUGH UPDATES THAN WE HAVE HISTORICALLY PROVIDED, IN TERMS OF ENROLLMENT AND BUDGETS AT THE SEPTEMBER BOARD MEETING, BECAUSE WE'LL HAVE A MUCH BETTER IDEA.

SO LOOKING AT THIS UCCS TOTAL BUDGET, IT'S ABOUT $245 MILLION.

WHEN WE LOOK AT THE GRAY PART IN PARTICULAR,

[02:15:02]

WHICH IS THE OPERATING BUDGET, ABOUT AT THE LARGEST PORTION OF THAT BUDGET IS FROM RESIDENT TUITION REVENUE.

HERE, YOU CAN SEE THAT STATE FUNDING IS ABOUT 11 PERCENT OF THE UCCS OPERATING BUDGET.

SO EVEN AFTER THE REALLY DRAMATIC STATE FUNDING CAP, IT'S STILL 11 PERCENT OF THE OPERATING BUDGET AT UCCS.

HERE IS THAT MORE DETAILED LOOK AT ENROLLMENT AT UCCS.

IF IT'S OKAY, MR CHAIRMAN, I'M JUST GOING TO KEEP MOVING AND YOU ALL CAN TAKE MORE TIME TO LOOK AT THESE OVER TIME.

IF YOU HAVE ANY QUESTIONS, JUST LET ME OR THE CHANCELLOR'S KNOW.

TALK ABOUT THIS FOR OLDER, VERY SIMILAR BUDGET BALANCING TOOLS IN THE TOOLBOX AT UCCS. LOOKING AT DENVER.

SO DENVER, AS YOU CAN SEE HERE, IS PROJECTING THEIR TOTAL FUNDS BUDGET TO DECLINE BY ABOUT 9 PERCENT, AND WE SAW THAT EARLIER ON IN THE PRESENTATION.

NON-RESIDENT TUITION REVENUE IS PROJECTED TO DECLINE BY $17 MILLION.

DENVER ENROLLS QUITE A FEW STUDENTS FROM CHINA, AND SO THAT'S A PARTICULAR EXPOSURE FOR CU DENVER.

DENVER HAS ANNOUNCED [NOISE] A PLAN TO WELCOME STUDENTS BACK IN A SAFE WAY, TO KEEP STUDENTS, FACULTY, AND STAFF SAFE, AND ALL THE CAMPUSES HAVE REALLY BEEN PLANNING THOUGHTFULLY AND THOROUGHLY, TO PLAN FOR THE FALL.

THE TOTAL BUDGET AT CU DENVER IS ABOUT $300 MILLION, AND WHEN WE LOOK AT THAT GRAY PORTION OF THE BUDGET, THE OPERATING PORTION OF THE BUDGET, [NOISE] DENVER ALSO RELIES PRIMARILY ON RESIDENT TUITION REVENUE.

THE NON-RESIDENT TUITION REVENUE IS LARGER AT DENVER THAN AT UCCS BECAUSE OF THOSE ADDITIONAL NON-RESIDENTS, THEIR ADDITIONAL INTERNATIONAL STUDENTS ESPECIALLY.

HERE, YOU CAN SEE HOW THAT INTERNATIONAL STUDENT IMPACT IS PROJECTED TO AFFECT CU DENVER.

THE CAMPUS IS WORKING HARD, AS YOU CAN IMAGINE, TO TRY TO OFFSET THAT IMPACT THROUGH ROMAN MANAGEMENT STRATEGIES FOR OTHER COMMUNITIES FOR RESIDENT STUDENTS AND DOMESTIC NON-RESIDENT STUDENTS.

THIS IS A PROBLEM THAT MANY INSTITUTIONS IN THE COUNTRY ARE FACING, ESPECIALLY THOSE THAT HAVE A LOT OF THE STUDENTS FROM CHINA.

THEN DENVER'S TOOLS IN THEIR TOOLBOX FOR BALANCING THE BUDGET ARE ESSENTIALLY THE SAME AS OTHER CAMPUSES.

THE DEGREE TO WHICH ONE CAMPUS LEANS ON ONE OF THESE THINGS MORE THAN THE OTHER, WILL JUST DEPEND ON THE PARTICULAR CIRCUMSTANCES AT THAT CAMPUS.

THEN TURNING TO CU ANSCHUTZ.

>> TODD, YOU'RE JUST MISSING THE SCOOP AND TOSS FOR A POINT.

BECAUSE THAT WAS WHAT DAN'S TEAM DID, WE RE-SCOOPED AND WE TOSSED.

[LAUGHTER] [BACKGROUND]

>> THAT'S REAL THOUGH. SO THAT'S ABSOLUTELY GOING TO HELP THE CAMPUSES.

GIVE THEM ADDITIONAL BUDGET FLEXIBILITY AND ABSORB SOME OF THESE FLUCTUATIONS.

SO WE'RE VERY GRATEFUL TO DAN FOR WORKING WITH THE CAMPUSES TO FIGURE THAT OUT.

SO HERE'S A GENERAL OVERVIEW FOR CU ANSCHUTZ.

FALL ENROLLMENT IS ACTUALLY PROJECTED TO INCREASE SLIGHTLY FOR NEXT YEAR.

BUT A LARGE PORTION OF THAT IS DUE TO MOVING UP SOME OF THE COLLEGE OF NURSING PROGRAMS ONTO THE MAIN CAMPUS FROM ITS STANDARD STUDIES.

BUT ANSCHUTZ ENROLLMENT IS LOOKING QUITE STABLE.

ANSCHUTZ AND DON INTERIOR ALWAYS REMIND ME FALL STARTS A LOT EARLIER AT CU ANSCHUTZ THAN IT DOES AT THE OTHER CAMPUSES.

SO CU ANSCHUTZ IS ALREADY IN FRONT OF A LOT OF THE THINGS THAT THE OTHER CAMPUSES ARE PLANNING FOR.

[NOISE]

>> WHAT THE HELL IS A HIRING CHILL? [OVERLAPPING] IS THAT A MEDICAL TERM? [OVERLAPPING]

>> YEAH, IT'S A MODIFIED MEDICAL TERM, YEAH.

IT'S A HIRING CHILL. THAT'S WHAT IT IS.

>> SO IT'S NOT A FREEZE, BECAUSE IT'S NOT JUST AN OUTRIGHT, "NO WE ARE NOT HIRING ANYONE." IT'S MORE OF A STRATEGIC APPROACH SO THAT CRITICAL POSITIONS CAN BE HIRED.

BUT THE MANY OTHERS AREN'T HIRED BECAUSE OF THE BUDGET CHALLENGES THAT CAMPUS IS FACING.

>> WE'VE HAD VERY, VERY FEW HIRES.

[02:20:01]

YET THAT'S NOT TRUE ON PHYSICIAN RECRUITMENT.

THAT'S THE ONE PLACE WHERE I WOULD SAY THAT PRISTINE AT PRETTY MUCH AT PACE.

>> YEAH, I JUST THOUGHT YOU WERE INVENTING YOUR OWN VOCABULARY THERE [INAUDIBLE] THE ELEMENT.

>> WE TRY TO DO THAT TO CONFUSE PEOPLE AS MUCH AS WE CAN, YES.

>> SO THAT HALF OF THE CU ANSCHUTZ BUDGET IS FROM HEALTH SERVICES REVENUE.

THAT'S CU MEDICINE, ALSO KNOWN AS UNIVERSITY PHYSICIANS INC, UPI.

WHEN WE LOOK AT THE OPERATING PORTION OF THE CU ANSCHUTZ BUDGET, IT'S QUITE A BIT SMALLER.

THE TOTAL BUDGET CU ANSCHUTZ WILL BE AT JUST OVER $2 BILLION.

WHEN WE LOOK AT THE OPERATING PART OF THE BUDGET, IT TOO LOOKS DIFFERENT THAN THE OTHER CAMPUSES.

THE LARGEST PORTION OF THE OPERATING BUDGET AT CU ANSCHUTZ IS INDIRECT COST RECOVERIES FROM THE RESEARCH ACTIVITY ON CAMPUS.

IT'S IMPORTANT TO REMEMBER THAT THOSE INDIRECT COST RECOVERY DOLLARS CANNOT BE SPENT ON EDUCATION.

[OVERLAPPING] ENROLLMENT.

>> SO ONE THING, AND I MEANT TO BRING THIS UP WHILE DAN WAS CHATTING AND PERHAPS DAN YOU COULD WEIGH IN AND TODD AND TERRY, MAYBE, IF SHE'S ON, ONE THING THAT I'VE BEEN ASKING AROUND OVER THE YEARS ABOUT IS THE CU MEDICINE INVESTMENT POOL THAT THEY SORT OF MANAGE OUTSIDE OF THE TREASURY POOL.

I WONDER, WITH MARX'S ASSISTANCE, IF THERE'S A WAY TO BEGIN A CONVERSATION, MAYBE CONVERSATIONS HAVE ALREADY BEEN HAD, ABOUT ALIGNING THOSE TWO POOLS TO CREATE LESS NEED FOR LIQUIDITY, AND ACTUALLY BOOST RETURNS THERE TO GIVE US SOME ADDITIONAL REVENUE STREAMS, AND ACTUALLY DECREASE SOME OF OUR CASH FLOW RISK.

>> DAN HAS APPROACHED [NOISE] [INAUDIBLE] AND IN THE PAST TO TALK ABOUT THAT, AND WE'RE HAPPY TO DO THAT AGAIN.

MAYBE THAT'S THE CONVERSATION WE CAN HAVE IN THE FINANCE TEAM.

>> GREAT. THANK YOU.

>> GREAT. SO AT ENROLLMENT PICTURE AT CU ANSCHUTZ QUITE STABLE AS WE DISCUSSED.

TOOLS IN THE TOOLBOX THERE.

ANSCHUTZ BOOKS USE FEWER WORDS TO DESCRIBE THEM BUT THEY ARE SOME JEWELS.

>> ABOUT HIRING CHILLS OR NOT? [LAUGHTER]

>> MAYBE DOWN FROM CHILLS TO THAT SINCE [INAUDIBLE] [OVERLAPPING]

>> SOME OF THE BUSINESSES HAVE GOTTEN VERY COLD ACTUALLY.

>> SO THEN, TURNING TO SYSTEM ADMINISTRATION, THE OVERVIEW, AS YOU KNOW, THE FURLOUGHS AND EXECUTIVE PAY REDUCTIONS HAVE BEEN IMPLEMENTED AT THE SYSTEM JUST LIKE IT HAS BEEN DONE AT THE CAMPUSES, AND WE ARE REDUCING SPENDING IN QUITE A FEW AREAS AND PASSING THOSE SAVINGS ON TO THE CAMPUSES.

WE'VE REDUCED ICCA, WHICH IS THE CHARGE THAT ASSESS ON CAMPUSES TO OPERATE THE SYSTEM OFFICES.

SO WE'VE REDUCED [NOISE] OVER THE YEAR BY 7 PERCENT TO PROVIDE BUDGETARY RELIEF, AND HOPEFULLY, THAT PROVIDES A LITTLE BIT OF HELP.

[NOISE] WHEN WE LOOK AT THE CAMPUS AT THE SYSTEM BUDGET, IT'S ABOUT $200 MILLION.

WE USE THE SAME WORDS, BUT THEY MEAN DIFFERENT THINGS AT THE SYSTEM.

SO EG, GENERAL FUNDS IS ESSENTIALLY THE FUNDS THAT COME FROM THE CAMPUSES TO SUPPORT THE SYSTEM OPERATION, RESTRICTED FUNDS ARE DOLLARS THAT COME FROM THE FOUNDATION THAT WE THEN PASS THROUGH TO THE CAMPUSES TO SUPPORT ADVANCEMENT, AND THEN AUXILIARY FUNDS IS FROM A VARIETY OF SOURCES.

[NOISE] THE PRIMARY SOURCE IS INTEREST EARNINGS.

IN YOUR REGION NOTEBOOK, WHICH IS IN BOARDDOCS, AND I AM HAPPY TO SEND AN ACTUAL NOTEBOOK TO ANYBODY WHO WANTS IT.

SO JUST TEXT ME IF YOU WANT AN ACTUAL BUDGET BINDER AND WE'LL SEND THOSE TO POST, BUT THERE'S A SPREADSHEET IN THERE THAT PROVIDES ADDITIONAL INFORMATION ON ALL OF THAT, AND IT'S IN BOARDDOCS AS WELL.

WHEN YOU LOOK AT THAT OPERATING BUDGET PORTION OF THE SYSTEM BUDGET, YOU CAN SEE IT'S ABOUT $60 MILLION OR $58 MILLION, THE LARGEST PORTION OF WHICH IS UNIVERSITY INFORMATION SYSTEMS, UIS, WHICH IS ALWAYS THE CASE.

[NOISE] THEN SYSTEM ACTUALLY DOESN'T HAVE QUITE AS MANY TOOLS IN OUR TOOLBOX TO DEAL WITH ADDITIONAL BUDGET CUTS, BUT HERE THEY ARE.

[NOISE] AS I MENTIONED,

[02:25:03]

WE'RE GOING TO PROVIDE ADDITIONAL ENROLLMENT INFORMATION AND BUDGET INFORMATION AT THE SEPTEMBER BOARD MEETING.

REGION KROLL HAD ASKED US TO ALSO ADD A LITTLE BIT OF ADDITIONAL INFORMATION DURING THAT ENROLLMENT UPDATE ABOUT WHAT'S GOING ON THE CAMPUS WITH ALREADY ENROLLMENT MANAGEMENT SO WE'LL [INAUDIBLE] THAT INFORMATION AS WELL.

THEN NOVEMBER, DECEMBER ROLLED AROUND AND THE OLD PARTY STARTS AGAIN AN WE'LL START LOOKING FORWARD TO SWEETER 22.

[NOISE] SO THAT'S IT AND [OVERLAPPING]

>> I DIDN'T SEE YOUR SLIDE ON PRESIDENT INITIATIVE FUNDS. IS THAT IN BOARDDOCS?

>> YEAH, THAT'S IN BOARDDOCS NOW, AND REGION GALLEGOS MAY HAVE ASKED ME TO SEND YOU A PDF OF THAT SPECIFICALLY AND SOMEONE DID, BUT I'LL JUST GO AHEAD AND SEND TO YOU THE ATTACHMENTS THAT ARE IN BOARDDOCS.

THEY ALL VIEW IN A PDF SO THEY'RE EASIER TO FIND.

[NOISE] IF ANY OF YOU WANT THE ACTUAL HARD COPY BUDGET BINDERS, PLEASE LET ME KNOW.

I'M HAPPY TO MAIL THAT TO YOU. [OVERLAPPING]

>> TODD, I'D LIKE TO HAVE A COPY OF IT.

>> YOU BET.

>> I'LL PICK ONE UP WHEN I COME WHEN DOWN THERE NEXT.

>> WELL, GIVE US A OF LITTLE BIT OF TIME BECAUSE WE HAVEN'T BEEN IN THE OFFICE.

WE HAVEN'T PRINTED THEM [LAUGHTER] SO [OVERLAPPING]

>> I DON'T THINK I'M COMING DOWN ANYTIME SOON.

>> I'M IN NO HURRY, TODD.

>> I APPRECIATE THAT. WE'LL GET THEM PUT TOGETHER FOR BOTH. ANY QUESTIONS?

>> WELL, YOU GOT IT PUT TOGETHER.

IT LOOKED PRETTY BAD WHEN THE GOVERNOR DIDN'T ACCEPT THE FUNDING FORMULA, AND WHEN COVID HIT, AND WE'RE $3 BILLION DOWN, AND YOU GOT IT PUT TOGETHER. GOOD JOB.

>> WELL, MY HAT IS OFF TO THE CAMPUSES AND I WANT TO THANK THEM FOR THEIR INCREDIBLE WORK THROUGHOUT THIS PROCESS.

THIS HAS GONE THROUGH A MILLION DIFFERENT ITERATIONS AS WE FOUND MORE INFORMATION.

SO THANK YOU VERY MUCH TO THE CFOS AND TO MY TEAM, SELENA, AND CHAD, AND EMILY, AND RYAN, ALL OF THEM HAVE PUT IN A HUGE AMOUNT OF WORK FOR THIS.

SO IT SEEMS LIKE A LOT OF SLIDES, THE AMOUNT OF WORK BEHIND IT IS REALLY A LOT OF WORK [LAUGHTER] SO THANKS TO THEM.

>> MORE SLIDES.

>> I DO WANT TO MAKE SURE THE BOARD AND ALL OF OUR LEADERSHIP KNOWS THE GOVERNOR DID COME ON BOARD.

THEY HELPED US IN THE END WITH 1366, WHICH WAS FANTASTIC, AND WE GOT IT THROUGH UNANIMOUSLY.

FIRST TIME EVER I'VE SEEN A UNANIMOUS HIGHER ED BILL VOTE WHICH WAS [OVERLAPPING].

>> THAT'S THE FUNDING FORMULA BILL.

SO IN THAT FUNDING FORMULA WE'LL BE IMPLEMENTING FY 22, AND SPECIAL THANKS TO CHAD FOR ALL HIS WORK ON THAT INCREDIBLE JOB.

>> GREAT.

>> MR. CHAIRMAN, SO IF THIS ALL LOOKS OKAY, AND [NOISE] REGION KROLL, THEN WE HAVE A RESOLUTION TO [OVERLAPPING].

>> I THINK JACK CAN PULL THAT RESOLUTION.

>> I HAVE IT RIGHT HERE, SO I'M GOING TO MOVE TO APPROVE ACTION ITEM F7, OPERATING BUDGET FOR THE 2021 FISCAL YEAR, INCLUDING THE AUXILIARY AND RESTRICTED FUND BUDGETS FOR THE BORDER REGION SYSTEM ADMINISTRATION, THE BOULDER CAMPUS, COLORADO SPRINGS, DENVER, AND THE INSTITUTE'S MEDICAL CAMPUSES, AND THE REMAINING PORTION OF THAT RESOLUTION CAN BE FOUND IN BOARDDOCS.

IS THERE A SECOND [OVERLAPPING] SECOND IT.

IS THERE ANY ADDITIONAL DISCUSSION ON THIS? HEARING NONE, ALL THOSE IN FAVOR OF APPROVING THE BUDGET AS PRESENTED, PLEASE INDICATE BY SAYING AYE.

>> AYE [OVERLAPPING].

>> ANY OPPOSED? THERE YOU HAVE IT.

[NOISE]

>> THANK YOU, [OVERLAPPING] AND TODD AND TEAM, TANYA FOR PUTTING THAT TOGETHER.

IT'S A LOT OF WORK, SO WE'RE GOOD NOW UNTIL ABOUT SEPTEMBER OR WHATEVER.

WE PROBABLY HAVE AN HOUR LEFT IN THIS MEETING.

DO YOU WANT TO TAKE A FIVE MINUTE BREAK OR YOU WANT TO CONTINUE MOVING FORWARD? REGIONS? [NOISE]

>> WE PROBABLY NEED A BREAK.

>> YEAH, SURE. [OVERLAPPING]

>> 3:38, HOW ABOUT IF WE COME BACK AT 3:50 AND WE'LL FINISH THIS THING UP.

I'LL CALL THIS MEETING BACK TO ORDER,

[02:30:01]

AND OUR NEXT ITEM OF DISCUSSION IS THE AUDIT COMMITTEE DISCUSSION AND ACTION ITEMS, AND THAT'S CHAIR JOHN CARSON.

>> OF COURSE, JOHN HAS GOTTEN UP, IT LOOKS LIKE.

>> OKAY. WELL, LINDA,

[I. 3:35 p.m. UNIVERSITY AFFAIRS COMMITTEE DISCUSSION AND ACTION ITEMS]

COULD WE DO THE UNIVERSITY OF [INAUDIBLE] COMMITTEE TILL JOHN GETS BACK? ARE YOU READY TO DO THAT?

>> ABSOLUTELY.

>> I WAS PLANNING TO BE BRIEF AND I PROBABLY STILL WILL BE BRIEF, BECAUSE THE REPORT IS IN BOARD DOCS AND WE'RE RUNNING LATE.

BUT WE MET ON MAY 27TH VIRTUALLY.

I WAS THERE, VICE CHAIR, HEIDI GANAHL, CHANCE LESLEY, AND ALSO IRENE, WHO'S NOT ON THE COMMITTEE, WERE ALL IN ATTENDANCE.

WE HEARD FROM VICE PRESIDENT MCCONLOG ON THE DIVERSITY MARKETING CAMPAIGN.

WE TALKED ABOUT ONLINE EDUCATION FOR QUITE A WHILE WITH PROFESSOR SHEANA BULL.

WE APPROVED A NUMBER OF THINGS THAT WEREN'T ON THE CONSENT AGENDA.

I JUST WANTED TO DRAW ATTENTION TO A COUPLE OF THEM.

AT UCCS COLLEGE OF EDUCATION, WE APPROVED A NUMBER OF CERTIFICATES THAT ARE GOING TO BE HELPFUL FOR GOING INTO THE WORK.

I FORGET THE RIGHT WORD HERE.

BUT I DON'T KNOW. HELP ME OUT HERE.

[LAUGHTER] WELL, IT DOESN'T MATTER.

AT CU BOULDER, WE APPROVED A NUMBER OF PROFESSIONAL MASTER'S PROGRAMS. ONE IN TEACHER LEADERSHIP, ANOTHER IN CORPORATE COMMUNICATION, ONE IN DATA SCIENCE, AND ONE IN OUTDOOR RECREATION ECONOMY, WHICH IS THE FIRST ONE IN THE COUNTRY.

IT WAS A VERY SUCCESSFUL MEETING AND WE'LL BE MEETING AGAIN ON A REGULAR BASIS.

I'M LOOKING FORWARD TO ACTUALLY DOING THAT IN PERSON SOMEDAY.

>> YEAH, NO KIDDING.

THAT ONLINE DISCUSSION WAS PRETTY INTERESTING.

YOU SENT US SOME OTHER INFORMATION ON IT, AND I WOULD LIKE TO HAVE GOTTEN IN ON THAT, I THINK, THE ONLINE DISCUSSION.

>> I GUESS WE'RE NOT RECORDING OUR BOARD MEETINGS RIGHT NOW, ARE WE? IT'S BEEN SUGGESTED IN THE PAST AS SOMETHING GOVERNANCE, OR [LAUGHTER] UA, OR SOMETHING MIGHT WANT TO LOOK AT AGAIN.

>> ANY QUESTIONS OR COMMENTS FOR LINDA?

>> LIVE STREAM.

>> I'LL JUST SAY THAT THE PRESENTATION ON ONLINE LEARNING WAS SUPER AND I THINK WE ALL WOULD BENEFIT FROM LOOKING AT THE POWERPOINT THAT WAS SENT OUT, BECAUSE I THINK IF YOU HAVE ANY QUESTIONS, I CERTAINLY DID, AND THEY WERE ALL ANSWERED.

>> YEAH.

>> IT'S IN BOARD DOCS.

I THINK FOR ME, THE MOST INTERESTING THING ABOUT IT WAS TO SEE THE LEVEL OF DETAIL, OF SPECIFICITY THAT THE CAMPUSES HAVE THOUGHT THROUGH ABOUT ALL THE ONLINE ISSUES, ACCESS ISSUES, AND JUST ANY ISSUE THAT YOU COULD THINK ABOUT IS DETAILED IN BOARD DOCS.

>> GREAT.

>> CAN I ASK PRESIDENT KENNEDY TO SHARE HIS THOUGHTS? I KNOW MAYBE YOU WEREN'T THERE FOR THE MEETING, BUT YOU PROBABLY HAVE A GOOD SENSE OF WHERE WE ARE AT WITH THE ONLINE INITIATIVE, AND WHAT PROGRESS HAS BEEN MADE, AND WHAT MIGHT STILL NEED TO BE DONE.

>> SO I DID JOIN THAT PART OF THE MEETING AND SHEANA BULL DID A WONDERFUL JOB OF MAKING SURE EVERYBODY UNDERSTOOD THAT WE'RE TALKING ABOUT QUALITY ONLINE.

THE ONLINE ACCELERATION COMMITTEE AND THE WORKING GROUPS ARE PROCEEDING A PACE, AS IS OUR EFFORTS FOR FALL.

WE'RE ACTUALLY GETTING A NUMBER OF PROGRAMS THAT WANT TO TRY TO JUMP IN IN FALL OR SPRING THAT WE NEED TO CONSIDER.

SO THE INTENT IS STILL TO HAVE SOME STRAW PROPOSAL FOR THE CAMPUSES, FOR ALL THE SHARED GOVERNANCE GROUPS ON THE CAMPUSES TO BE ABLE TO COMMENT ON WHEN WE GET BACK IN LATE AUGUST AND SEPTEMBER FOR HOPEFULLY AN OCTOBER DECISION ON THAT BY A GROUP.

SO THINGS PROCEED AT PACE, A LOT OF GOOD WORK IS BEING DONE, AND I THINK THE COMMITTEE SAW THE QUALITY OF SHEANA BULL, WHO ALONG WITH SCOTT CHADWICK, IS LEADING THIS EFFORT FOR US.

>> YEAH. THAT'S ON BOARD DOCS, LINDA, YOU SAID?

>> YES. IT'S UNDER OUR MEETING OF MAY 27TH.

[02:35:03]

>> YEAH, I THINK THAT WOULD BE INTERESTING TO WATCH.

I ENJOYED THE SHEET THAT YOU SENT ON VOCABULARY.

THAT'S PRETTY INTERESTING AS WELL.

>> THAT WAS A STATE DOCUMENT.

>> YEAH.

>> BROADLY ACCEPTED TERMINOLOGY.

>> IS IT?

>> YEAH, IN THE STATE AT LEAST.

>> LET'S MOVE BACK TO AUDIT COMMITTEE.

REGENT CARSON, ARE YOU THERE? [NOISE] WELL, I KNOW THAT REGENT SHARKEY IS READY WITH GOVERNANCE COMMITTEE.

[J. 3:45 p.m. GOVERNANCE COMMITTEE DISCUSSION AND ACTION ITEMS]

SUE, WOULD YOU TAKE THAT?

>> GOT IT. ON MUTE.

THE GOVERNANCE COMMITTEE MET REMOTELY ON FRIDAY MAY 29TH.

THE COMMITTEE MEMBERS PRESENT AT THAT MEETING WERE MYSELF, COMMITTEE VICE CHAIR IRENE GREIGO, REGENT HEIDI GANAHL, AND REGENT JACK KROLL.

WE WERE ALSO JOINED BY REGENT SMITH AND SEVERAL OF THE VICE PRESIDENTS AND UNIVERSITY STAFF MEMBERS.

THE MAY 29TH MEETING BEGAN AS AMY HUMBLE AND EFFIE AMEEN PRESENTED A REVIEW OF NEW REGENT ORIENTATION MATERIALS.

A PROPOSED OUTLINE FOR CHANGES TO THE ORIENTATION PROCESS, BASED ON THE BEST PRACTICES THAT WILL BE PROVIDED AT THE NEXT GOVERNANCE COMMITTEE MEETING.

THE NEXT TOPIC WAS SUMMER RETREAT PLANNING.

THE DEVIL'S THUMB LOCATION WAS CANCELED DUE TO COVID-19, BUT WE STILL WANT TO HAVE A SMALLER SCALE RETREAT, ESPECIALLY WITH THE NEW CHANCELLOR AND NEW VICE PRESIDENT SECRETARY OF THE BOARD JOINING US.

THE COMMITTEE DECIDED THERE THAT WE'RE GOING TO HAVE A ONE DAY RETREAT ON JULY 8TH.

ONE DAY, THAT MAY MEAN FOUR OR FIVE HOURS, IT MAY MEAN EIGHT.

WE HAVEN'T REALLY DETERMINED THE FINAL AGENDA YET.

THE COMMITTEE DISCUSSED LOGISTICAL CONCERNS AND TOPIC IDEAS FOR THE RETREAT.

THAT JUST SEEMS TO KEEP CHANGING DAILY.

OF COURSE, WITH ALL OF THE NEWS THAT WE'VE HAD GOING ON, WE'VE NEEDED TO BE FLEXIBLE AND NIMBLE IN PLANNING THIS RETREAT.

USUALLY, BY NOW, IT'S PRETTY WELL SET IN STONE, BUT TIMES ARE DIFFERENT NOW.

PATRICK O'ROURKE, OUR EXECUTIVE VICE CHANCELLOR AND CHIEF OPERATING OFFICER FOR CU BOULDER ADDRESSED THE REGENT POLICY 2F CONCERNING BOARD MEETINGS.

HE TOLD THE COMMITTEE THERE WAS FEEDBACK RELATING TO AGENDA APPROVAL AND THE USE OF RESOLUTIONS.

THE COMMITTEE DECIDED TO PUT CHANGES TO POLICY 2F ON HOLD TO ALLOW FOR FURTHER REVIEW OF THIS POLICY AND FIND A DIFFERENT APPROACH TO ADDRESSING SOME OF THESE TOPICS.

THAT REALLY HAS TO DO WITH BRINGING RESOLUTIONS FORWARD AS A BOARD RATHER THAN JUST ONE-OFF REGENT OR A FEW REGENTS BRINGING FORWARD RESOLUTIONS.

IT WOULD HAVE REQUIRED A TWO-THIRDS AUTHORITY TO APPROVE THE RESOLUTIONS.

BUT THAT HAS BEEN PUT ON HOLD AND WE'LL CONTINUE TO ADDRESS THAT.

CHANGES TO POLICY 2C DEALING WITH REGENT COMMITTEES WILL ALSO BE ON HOLD BECAUSE THEY CLOSELY RELATE TO POLICY 2F.

THE GOAL IS TO HAVE THESE READY FOR A VOTE IN NOVEMBER.

VICE CHANCELLOR O'ROURKE AND MANAGING ASSOCIATE COUNSEL JEREMY HUETH REVIEWED THE OTHER RULES AND POLICY CHANGES TO BE VOTED UPON AT THE JUNE MEETING, HAVING HAD NOTICE OF MOTION PROVIDED AT THE APRIL MEETING.

VICE PRESIDENT TODD SALIMAN PRESENTED A PROPOSED POLICY CHANGE TO POLICY 3I, CONTRACTING AUTHORITY AND REGENT NOTIFICATION REGARDING BOARD INVOLVEMENT IN CONTRACT SOLICITATION.

THE POLICY CHANGE WOULD PROVIDE FOR BOARD INPUT AT THE BEGINNING OF THE CONTRACT SOLICITATION PROCESS, AND THE PROPOSED POLICY CHANGE WAS PRESENTED TO THE FINANCE COMMITTEE AS WELL.

REGENT KROLL, RECOGNIZED THE WORK THAT PRESIDENT KENNEDY AND VICE-PRESIDENT SALIMAN PUT INTO THIS POLICY PROPOSAL.

THE GOVERNANCE COMMITTEE APPROVED THE POLICY TO MOVE FORWARD AND THAT A NOTICE OF MOTION BE PLACED ON THE JUNE BOARD MEETING AGENDA, WHICH WE'VE DONE.

THE COMMITTEE IS SCHEDULED TO MEET AGAIN NEXT WEEK ON JUNE 23.

THE PURPOSE OF THAT MEETING IS TO DISCUSS THE UPCOMING RETREAT ON JULY 8TH AND TO TRY TO FINALIZE OUR PLANS IN AGENDA FOR THAT RETREAT.

THAT'S MY REPORT. THANK YOU.

>> SUE, WE DON'T HAVE ANY ACTION ITEMS?

[02:40:02]

>> NO. NO ACTION ITEMS AT THIS TIME.

>> THERE IS A NOTICE OF MOTION THERE THOUGH, AND I DO WANT TO MAKE ONE MENTION, [NOISE] AND I'M SORRY IF LUCY GETS A BIT FLUSTERED DURING THIS.

SHE'S NOT AS EXCITED, SORRY, TOO, ABOUT THE GOVERNANCE COMMITTEE AS SHE IS ABOUT THE FINANCE COMMITTEE.

[LAUGHTER] BUT IN THE POLICY AROUND CONTRACTS, TODD AND I CONNECTED AFTERWARDS AND AS PART OF THE NOTICE OF MOTION PROCESS, WE'LL HAVE ANOTHER CONVERSATION WITH EACH OF THE TWO COMMITTEES.

BUT WE REALIZED THAT WE NEEDED TO LIKELY EXEMPT OUT CONTRACTS THAT WERE BEING FUNDED BY CLINICAL REVENUES, AS WELL AS DONATIONS, FUNDRAISING.

SO TODD, DO YOU WANT TO PROVIDE A LITTLE BIT MORE INSIGHTS ON THAT?

>> NO, YOU'VE GOT THAT RIGHT.

SO THE CONTRACT FUNDED EXCLUSIVELY THROUGH RESEARCH OR CLINICAL SOURCES, WHEN THOSE CLINICAL SOURCES ARE FUNDING CLINICAL-RELATED ACTIVITIES OR OTHERWISE NOTED IN REGENT LAW AND POLICY.

WE'LL BRING THAT MODIFICATION BACK TO THE FINANCE AND GOVERNANCE COMMITTEE MEETINGS.

BUT WE WANTED TO JUST INCLUDE IT TODAY FOR THE NOTICE OF MOTION SO THAT IT'S ALL READY TO BE APPROVED AT THE NEXT BOARD MEETING.

>> GOOD.

>> IS VICE CHANCELLOR O'ROURKE ON THE MEETING? I CAN'T SEE EVERYBODY'S FACES.

>> I AM.

>> OKAY. PATRICK, WOULD YOU TALK A LITTLE BIT ABOUT THAT POLICY 2F THAT WE PUT ON HOLD? BECAUSE IT WILL COME UP AGAIN.

SINCE WE HAVE THE EARS OF ALL OF THE BOARD MEMBERS, IF YOU COULD JUST GIVE MAYBE A LITTLE BIT MORE BACKGROUND TO THAT.

>> I'D BE HAPPY TO.

LET ME SEE IF I CAN TURN ON MY CAMERA SO THAT YOU CAN SEE ME TODAY.

I'LL START TALKING IF I FIGURE OUT HOW TO TURN THAT ON.

YOU WON'T BE ABLE TO SEE ME BUT I'LL JUST SPEAK.

SO POLICY 2F WAS DESIGNED TO REALLY ADDRESS A COUPLE OF THINGS.

THE FIRST WOULD BE TO TRY TO CODIFY SOME OF THE STANDING PRACTICES THAT WE'VE HAD WITH BOARD MEETINGS.

TO BE ABLE TO CLARIFY HOW MEETINGS ARE SET, HOW THE AGENDAS ARE SET, AND HOW EXECUTIVE SESSION AND OTHER PORTIONS OF THE MEETING ARE CONDUCTED.

THE PIECE WHERE WE WERE RECEIVING FEEDBACK FROM REGENTS DEALT WITH POTENTIAL PROVISION WITHIN THE POLICY [NOISE] THAT WOULD DEAL WITH RESOLUTIONS.

IT WOULD REQUIRE THAT IF A RESOLUTION WAS INTRODUCED THAT HAD NOT PREVIOUSLY BEEN SUBMITTED TO A COMMITTEE FOR ITS REVIEW, THAT IT WOULD REQUIRE TWO-THIRDS VOTE OF THE BOARD OF REGENTS TO BE ABLE TO MOVE IT FORWARD AND HAVE IT ACTED ON AT A PARTICULAR BOARD MEETING.

THE NOTION BEHIND THAT WAS TO BE ABLE TO CREATE THE PRESUMPTION THAT THINGS WOULD ORDINARILY GO THROUGH A COMMITTEE PROCESS BEFORE THEY WOULD BE PRESENTED FOR THE BOARD'S CONSIDERATION, BUT TO RECOGNIZE THAT THERE MIGHT BE SOME INSTANCES WHERE THE TYPE OF ACTION NEEDED TO BE TAKEN MORE EMINENTLY, AND WOULD ALLOW THE BOARD TO APPROVE IT ON A LESS THAN UNANIMOUS VOTE BUT A SUPER MAJORITY VOTE.

THE OTHER THING THAT IT WOULD DO IS THEY WOULD HAVE A PROCESS REFERRING BACK TO THE COMMITTEE PORTION OF IT, BY WHICH THE CHAIR AND THE VICE-CHAIR OF A COMMITTEE WOULD BE RESPONSIBLE FOR SETTING THE COMMITTEE AGENDA.

IF THERE WERE ANY DISAGREEMENTS ABOUT THE CONTENT OF THE COMMITTEE AGENDA, THAT WOULD BE REFERRED TO THE BOARD CHAIR FOR RESOLUTION.

WE RECEIVED FEEDBACK THAT THE REGENTS WERE NOT ENTHRALLED WITH THOSE TWO PROVISIONS, AND SO AT THE GOVERNANCE COMMITTEE MEETING, THE COMMITTEE DETERMINED THAT IT WOULD TAKE THOSE BACK UNDER ADVISEMENT, AND THAT WE WOULD WORK TO TRY TO FIND SOME ALTERNATIVE PROPOSALS.

>> SO THE PURPOSE IN THAT AS I UNDERSTAND IT WERE TWO THINGS.

ONE IS IT WOULD ALLOW FOR JUST A BETTER GOVERNANCE ON BEHALF OF THIS BOARD, AND ALSO HOPEFULLY, TO HAVE TAKEN SOME OF THE POLITICAL NATURE OUT OF OUR RESOLUTIONS WITH A SUPER MAJORITY HAVING BOTH PARTIES REPRESENTED IN THAT.

>> WHY WAS IT TABLED? WHY WAS IT DROPPED?

>> IT APPEARED THAT THERE WASN'T ENOUGH SUPPORT FOR IT, CHAIR GALLEGOS,

[02:45:05]

AND SO WE JUST PUT IT OFF FOR NOW TO TRY TO EVALUATE IT FURTHER AND THEN BRING IT FORWARD LATER THIS FALL, AND ESPECIALLY BECAUSE WE HAD SO MANY OTHER ISSUES THAT HAD BEEN ON THE TABLE, AND THIS WAS ONE PARTICULAR ISSUE THAT I THINK NEEDED MORE DISCUSSION.

GIVEN EVERYTHING THAT WE'VE HAD GOING ON SEEMED APPROPRIATE TO JUST DELAY IT, AND HOPEFULLY THEN TRY TO PUT THESE PROCESSES IN PLACE FOR A NEW BOARD BECAUSE WE'LL HAVE NEW BOARD MEMBERS COMING ON IN JANUARY, WHEN THEY GET SWORN IN WE'LL HAVE THREE NEW BOARD MEMBERS.

IT COULD THEN JUST BE A POLICY THAT'S BEEN IMPLEMENTED, VOTED ON IF IT'S IMPLEMENTED AND SUPPORTED BY A NOVEMBER BOARD MEETING, IMPLEMENTED THEN AFTER THE FIRST OF THE YEAR AND FOR THE BENEFIT OF A NEW BOARD.

>> THANK YOU, SUE.

>> THANKS.

>> ANY COMMENTS, QUESTIONS WITH REGARD TO GOVERNANCE BUSY COMMITTEE? HEARING NONE, WE'RE GOING TO GO BACK AND SEE IF

[H. 3:20 p.m. AUDIT COMMITTEE DISCUSSION AND ACTION ITEMS]

REGENT CARSON IS READY TO DO THE AUDIT COMMITTEE DISCUSSION.

>> SORRY, I HAD TO STEP OUT AND TAKE A CALL.

REALLY, THE ONLY THING I THINK I NEED TO REPORT OUT ON FROM THE AUDIT COMMITTEE IS THAT WE WELCOME THE NEW EXTERNAL AUDITORS FOR THE UNIVERSITY.

EVERY 10 YEARS, THOSE HAVE TO TURN OVER.

WE HAVE AN AGREEMENT WITH THE NEW FIRM, BKD LLP, AND THEY'LL BE DOING THE EXTERNAL AUDITS AT LEAST FOR THE NEXT FIVE YEARS, AND WE HEARD A PRESENTATION FROM THEM AND THAT WENT WELL.

WE ALSO GOT UPDATES ON OUR ETHICS HOTLINE AND ALSO SOME OF OUR INTERNAL AUDIT PLANS GOING FORWARD.

THAT'S ALL I HAVE TO REPORT. THANK YOU.

>> GREAT. JOHN, WE'VE APPRECIATED YOUR WORK ON THAT COMMITTEE, ESPECIALLY WITH THAT REPORT THAT KEVIN HAS DONE.

IT PAINS ME A LITTLE BIT THAT I HAVE NOT HEARD FROM HIM IN THE LAST COUPLE OF DAYS, BUT IT PAINS ME TO THINK THAT KEVIN'S HEALTH IS NOT GOOD AND THAT HE MAY BE LEAVING US.

I THINK THAT'S A BIG LOSS FOR US.

HE WORKS DIRECTLY FOR THE REGENT, SO THAT'S ONE THAT WE NEED TO KEEP AN EYE ON, NOT ONLY FROM THE STANDPOINT OF HE IS VERY DAMN GOOD AT HIS JOB, NOT ALWAYS THE BEST LIKED GUY BUT HE IS GOOD AT WHAT HE DOES, AND ALSO BECAUSE HE WORKS FOR US, AND SO YOU SHOULD KNOW THAT.

>> YES, [OVERLAPPING] I AGREE.

HE'S DONE AN OUTSTANDING JOB AND HOPE EVERYTHING WILL CONTINUE ON THAT FRONT.

WE REVISIT THE STUDENT HEALTH INSURANCE REPORT IN THE FALL.

WE PUT THAT ON HOLD, BUT AS WE KNOW, THERE ARE SOME REGENTS INTERESTED IN THAT WHOLE ISSUE OF THE STUDENT HEALTH PLAN SO WE'LL CONTINUE DISCUSSIONS ON THAT.

>> [OVERLAPPING] I JUST WOULD LIKE TO ADD SOMETHING, GLEN.

>> YEAH, LESLEY.

>> IN ADDITION TO KEVIN'S HEALTH, HE POINTED OUT THAT I THINK THERE MIGHT BE UP TO FOUR PRETTY HIGH LEVEL RETIREMENTS COMING UP WITHIN THE AUDIT GROUP TOO.

SO IT'S A LITTLE CONCERNING POTENTIALLY, BUT SOMETHING THAT WE HAVE TO BE AWARE OF.

>> THANK YOU, LESLEY.

>> ALSO, GLEN, JUST TO SAY THAT, YOU MENTIONED THAT HE MAY NOT BE THE MOST WELL LIKED, I WOULD SUBMIT THAT I DON'T THINK ANY AUDITOR IS VERY WELL LIKED JUST BY NATURE OF THEIR WORK.

>> I TELL YOU, I SURE LIKE HIM.

>> I LIKE HIM A LOT TOO BUT I JUST WANT TO SAY, I DON'T THINK IT'S BECAUSE OF KEVIN, I THINK IT'S BECAUSE OF THE NATURE OF HIS WORK.

>> I APPRECIATE THAT, SUE, THAT'S A GOOD CLARIFICATION ON THAT.

HEY, JOHN, I HAVE A QUESTION FOR YOU.

THE RESOLUTION THAT YOU INTRODUCED TODAY, WHEN WAS THE COMMITTEE TO HIRE THE NEW LAW DEAN? HOW MANY YEARS AGO WAS THAT?

>> THAT WAS ABOUT FOUR YEARS AGO.

>> JOHN HAS BEEN TRYING TO GET LOTS OF PEOPLE'S ATTENTION TO LOOK AT THAT POLICY OVER AND OVER AND OVER AGAIN, BUT ONE THING IS JOHN DOESN'T FORGET, SO HE INTRODUCED HIS OWN [INAUDIBLE] [LAUGHTER] AND HOPEFULLY, WE'LL GET AN ANSWER BEFORE HE LEAVES OFFICE IN JANUARY.

[02:50:01]

I KNOW IT WAS AT LEAST THAT LONG REPORT.

>> WELL, I KEEP A LIST OF THINGS I WANT TO DO AND THIS WAS THE LAST ITEM ON THE LIST, AND MY DAYS AROUND HERE ARE NUMBERED, SO IT'S GOT TO BE DONE.

>> OTHER QUESTIONS, JOHN, COMMENTS? LET'S MOVE DOWN TO THE DISCUSSION AND ACTION ITEMS,

[K. 4:00 p.m. BOARD OF REGENTS DISCUSSION AND ACTION ITEMS]

AND THE NEXT SIX ITEMS ON THE AGENDA ARE THE APPROVAL OF ASSISTANT FOOTBALL COACHES CONTRACTS [INAUDIBLE] WHAT I WOULD LIKE TO DO IF IT'S OKAY WITH EVERYONE IS INCLUDE THOSE IN A SINGLE MOTION AND DO ALL SIX AT A TIME.

DOES ANYBODY HAVE A PROBLEM WITH THAT?

>> I'D LIKE TO MOVE THAT WE VOTE ON AGENDA ITEMS, LET'S SEE, WHAT IS THAT, J1 THROUGH EIGHT.

>> IT'S ONE THROUGH SIX.

>> I'M GONG TO BACK IT UP EVEN FURTHER BECAUSE I'M LOOKING AT ONE WE DO NEED.

WELL, LET'S GO ONE THROUGH EIGHT.

THAT'S MY MOTION, I MOVE WE VOTE IN FAVOR OF J1 THROUGH EIGHT

>> WELL, THERE ARE DIFFERENT ITEMS, SUE, AS YOU GET TO SEVEN AND EIGHT, THEY'RE DIFFERENT ITEMS. THE COACHES, BOARD OF REGENTS DISCUSSION AND ACTION ITEMS ARE ONE THROUGH SIX.

THE OTHER ONES ARE RESOLUTIONS OF APPRECIATION.

>> ON IT. GOT IT.

SO ONE THROUGH SIX.

>> OKAY. DO I HAVE A SECOND ON THAT?

>> REGENT SMITH SECONDS IT.

ANY DISCUSSION ON THOSE ITEMS? I WOULD ONLY SAY THAT IT WAS REFRESHING TO HEAR RICK GEORGE, HE ALWAYS DOES A GOOD JOB, NO ONE PAYS CLOSER ATTENTION TO BUDGET THAN RICK.

THEY DO A GOOD JOB WITH THE NCAA AND WITH SAFETY AND LOTS OF OTHER THINGS THERE SO IT WAS REFRESHING TO HEAR.

WITH REGARD TO THAT, WE'LL DO A ROLL CALL ON THAT.

EFFIE, WOULD YOU GO AHEAD WITH THAT?

>> YES. THIS IS ON THE SIX FOOTBALL COACH CONTRACTS. REGENT CARSON.

>> THAT PASSES SEVEN TO TWO.

>> REGENT GANAHL.

>> OOPS. AYE.

>> VICE CHAIR GRIEGO.

>> OKAY. THANKS EVERYONE.

OUR NEXT TWO ITEMS ARE HAPPY ITEMS. THEY'RE RESOLUTIONS OF APPRECIATION, AND THE FIRST ONE IS A RECOGNITION FOR DAN WILKERSON, WHO WE GOT OUT OF RETIREMENT TO HELP US OVER THE LAST FOUR OR FIVE MONTHS, AND THANK GOD THAT WE DID, SO I'M GOING TO TURN IT OVER TO VICE-PRESIDENT LEONARD DINEGAR.

>> THANK YOU CHAIR GALLEGOS.

NINE YEARS AGO, DAN WILKERSON RETIRED FROM HIS ROLE AS VICE PRESIDENT UNIVERSITY COUNCIL AND SECRETARY TO THE BOARD.

REGENT POLICY 3G1 STATES THAT "ANY OFFICER REPORTING DIRECTLY TO THE BOARD OF REGENTS MAYBE ALLOWED UPON RETIREMENT AND APPROVAL BY THE BOARD OF REGENTS TO RETAIN HIS OR HER TITLE WITH THE DESCRIPTION EMERITUS/EMERITA." WITHOUT A REASON THAT ANY OF US WHO WERE AROUND COULD REMEMBER, WHEN DAN FIRST RETIRED, WE DIDN'T PURSUE THE EMERITUS DESIGNATION FOR HIM.

LOOKING BACK, THAT WAS A MISTAKE.

DAN HAS WORKED CU FOR 30 YEARS AND ANSWERED THE CALL WHEN HE WAS ASKED TO STEP IN AS THE INTERIM BOARD SECRETARY IN UNIVERSITY COUNCIL.

I ASKED HIM ABOUT THE EMERITUS ISSUE A LITTLE WHILE BACK AND HE SAID, "LOOKING BACK, HE WISH HE HAD RECEIVED IT NINE YEARS AGO." ALTHOUGH THERE ARE NO TANGIBLE BENEFITS WITH THE TITLE, DAN UNDERSTANDS THE SIGNIFICANCE OF THE HONORARY TITLE AND THAT IT IS RECOGNITION BY THE BOARD OF REGENTS OF HIS LONG SERVICE TO THE UNIVERSITY.

TODAY, THE BOARD HAS AN OPPORTUNITY TO FIX THIS.

THANK YOU FOR GIVING CONSIDERATION TO BESTOWING THIS TITLE ON DAN BECAUSE HE DESERVED IT THEN AND HE DESERVES IT NOW.

WITH THAT, I WILL READ THE RESOLUTION OF APPRECIATION FOR DANIEL J. WILKERSON.

WHEREAS, VICE PRESIDENT UNIVERSITY COUNCIL AND SECRETARY OF THE BOARD OF REGENTS, DANIEL J. WILKERSON HAS ABLY AND ADMIRABLY SERVED THE UNIVERSITY OF COLORADO IN VARIOUS CAPACITIES FOR MORE THAN 30 YEARS, AND WHEREAS VICE PRESIDENT WILKERSON HAS ANSWERED THE CALL FOR THE UNIVERSITY NOT ONLY IN CLEARLY DEFINED ROLES, BUT ALSO IN AREAS OF ITS GREATEST NEED THAT REQUIRED CREATIVITY, INGENUITY, AND COLLABORATION, AND ARENAS OUTSIDE TRADITIONAL JOB DUTIES,

[02:55:05]

AND WHEREAS VICE PRESIDENT WILKERSON CAME OUT OF RETIREMENT TO SERVE THE CU BOARD OF REGENTS AT A CRITICAL TRANSITION POINT, ALLOWING THE BOARD AND UNIVERSITY TO MAINTAIN CONTINUITY AND MOMENTUM, AND WHEREAS VICE PRESIDENT WILKERSON OFFERED THOUGHTFUL, WISE, AND PRUDENT COUNSEL THROUGHOUT HIS CAREER TO REGENTS, PRESIDENTS, FACULTY, EXECUTIVE STAFF MEMBERS, ATTORNEYS, STUDENTS, AND MORE, AND WHEREAS VICE PRESIDENT WILKERSON HAS BEEN A LEADER AND A KEY MEMBER OF THE UNIVERSITY LEGAL TEAM THAT FREQUENTLY PREVAILED IN IMPORTANT CASES DEVELOPED DEFICIENCIES IN OPERATIONS AND REDUCED CU'S RELIANCE ON EXTERNAL LAW FIRMS, AND WHEREAS VICE PRESIDENT WILKERSON IS WELL-RESPECTED AND HIGHLY REGARDED IN THE COLORADO LEGAL COMMUNITY, AND WHEREAS VICE PRESIDENT WILKERSON WAS INSTRUMENTAL AND WORKING WITH DR. JAMES KELLY IN THE FOUNDING AND DEVELOPMENT OF THE MARKETS INSTITUTE FOR BRAIN HEALTH AT THE CU INSTITUTE MEDICAL CAMPUS, WHICH SERVES MILITARY VETERANS AS WELL AS PEOPLE FROM ACROSS THE COUNTRY WITH TRAUMATIC BRAIN INJURIES, AND WHEREAS VICE PRESIDENT WILKERSON IS WELL-KNOWN AND WIDELY RESPECTED FOR HIS INTELLIGENCE, WIT, COMPASSION, DILIGENCE, PERSPECTIVE, AND COLLEGIALITY, AND WHEREAS VICE PRESIDENT WILKERSON HAS SERVED THE UNIVERSITY OF COLORADO FOR MORE THAN THREE DECADES WITH HONESTY, INTEGRITY, HIGH ETHICAL STANDARDS, AND PROFESSIONAL EXPERTISE.

NOW, THEREFORE, IT BE RESOLVED THAT THE BOARD OF REGENTS WISHES TO EXPRESS GRATITUDE TO DANIEL J.

WILKERSON FOR HIS EXCEPTIONAL SERVICE TO THE UNIVERSITY OF COLORADO AND TO THE PEOPLE OF COLORADO.

WE SINCERELY HOPE HE'S MORE SUCCESSFUL AT HIS SECOND RETIREMENT FROM THE UNIVERSITY OF COLORADO THAN HE WAS AT THE FIRST.

FURTHER RESOLVE THAT THE UNIVERSITY OF COLORADO BOARD OF REGENTS BESTOWS THE TITLE VICE PRESIDENT, UNIVERSITY COUNCIL AND SECRETARY OF THE BOARD OF REGENTS EMERITUS UPON DANIEL J. WILKERSON.

>> IS THERE A MOTION TO ADOPT THE RESOLUTION?

>> SO MOVED.

>> SECOND. [OVERLAPPING]

>> MOVED BY REGENT KROLL AND SECOND BY.

>> BY JOHN CARSON.

>> ALL IN FAVOR SAY AYE.

>> THOSE OPPOSED, SAY NO.

THE MOTION PASSES.

CONGRATULATIONS, DAN.

I APPRECIATE GETTING TO KNOW YOU AND THANKS FOR YOUR HARD WORK.

I THINK THAT WE'RE PROBABLY GOING TO WRITE YOU HARD FOR THE NEXT MONTH OR SO GET READY.

>> DAN, MY QUESTION WAS, DID YOU HAVE TO RESIGN YOUR TITLE AS VICE PRESIDENT EMERITUS OR SECRETARY EMERITUS WHEN YOU CAME BACK? ARE YOU EMERITUS TWICE OVER? ARE YOU NOW EMERITI? ARE YOU DOUBLING? [OVERLAPPING]

>> REGENT KROLL, THIS IS THE FIRST.

>> REGENT KROLL IS ALMOST OUT OF WORDS FOR TODAY BY THE WAY.

>> WELL, I CAN'T BE OUT OF WORDS BECAUSE I [INAUDIBLE] [LAUGHTER] YOU GOT TO GIVE ME A FEW MORE GLEN.

>> DAN, CONGRATULATIONS.

ANYONE ELSE HAVE A COMMENT FOR DAN?

>> I WOULD JUST LIKE TO STATE FROM THE ADMINISTRATION, DAN HAS BEEN A REAL CONTRIBUTOR, STEPPED IN, DID NOT MISS A BIT.

HE HAS REALLY BEEN A BENEFIT TO THE UNIVERSITY AND TO ME AND WE WISH HIM ALL THE BEST AND CERTAINLY WELL DESERVES HIS RECOGNITION.

>> THANK YOU PRESIDENT KENNEDY.

>> DAN, I JUST WANT TO THANK YOU TOO FOR COMING BACK.

ONE OF YOUR COLLEAGUES THAT YOU WORKED WITH THE OTHER DAY MENTIONED TO ME THAT WHAT HE REALLY APPRECIATED FROM YOU IS YOUR RECOGNITION OF THEM, YOUR KIND WORDS TO THEM AND ENCOURAGEMENT, AND THAT REALLY MEANT A LOT TO THAT PERSON.

SO THANK YOU FOR BEING HERE AND HELPING US OUT DURING A VERY DIFFICULT TIME.

>> YOU'RE VERY WELCOME.

>> DAN, I'M STILL WAITING FOR THOSE WORDS OF ENCOURAGEMENT.

[LAUGHTER] YOU'RE KNOWN FOR THEM.

>> [OVERLAPPING] YOU BEHAVE WELL, [OVERLAPPING] IF YOU BEHAVE WELL, YOU'LL GET THEM GLEN.

>> OKAY. THANK YOU.

>> GLEN, CAN I JUST SAY SOMETHING?

>> SURE.

>> DAN, I WANT TO THANK YOU AS WELL FOR STEPPING UP DURING THIS TIME AND I KNOW IT'S BEEN A REALLY CHALLENGING TIME FOR EVERYONE AND IT'S GOOD WE HAD YOUR EXPERIENCE AND YOUR KNOWLEDGE TO HELP NAVIGATE THIS BOARD THROUGH ALL OF THE CHALLENGES.

IF IT WASN'T DAY 1, IT HAD TO HAVE BEEN DAY 2 OR 3 THAT ALL OF THIS COVID STUFF HIT, IT'S JUST BEEN ONE THING AFTER ANOTHER.

I HOPE YOU'RE DOING WELL, I HOPE YOU WILL DO WELL, I THINK YOU'LL PROBABLY DO MUCH BETTER HERE IN A FEW WEEKS AND YOU DESERVE A GREAT VACATION IF YOU CAN GET AWAY.

DAN, THANK YOU SO MUCH FOR EVERYTHING THAT YOU'VE DONE TO HELP OUR BOARD.

>> YOU'RE WELCOME.

>> REAL QUICK.

>> ARE YOU SAYING SOMETHING ABOUT DAN WILKERSON, PATRICK?

>> GLEN, CAN I JUST THANK DAN BOTH

[03:00:01]

FOR BEING ABLE TO COME IN AND WORK WITH THE BOARD DURING THIS PERIOD, BUT ALSO FOR STEPPING BACK IN AND LEADING THE OFFICE OF UNIVERSITY COUNCIL.

AS I'VE TOLD YOU GUYS MANY TIMES, I THINK THAT THE LAWYERS IN THE UNIVERSITY ARE AS TALENTED AS ANY GROUP OF LAWYERS IN THE STATE, BUT THAT THEY NEED SOMEBODY TO HELP GUIDE THE SHIP AND DAN HAS DONE A REMARKABLE JOB OF THAT UNDER VERY DIFFICULT CIRCUMSTANCES AND I'M REALLY GRATEFUL FOR THE WORK THAT HE PUT IN BOTH WHEN HE WAS MY BOSS AND OVER THE LAST SEVERAL MONTHS. THANKS DAN.

>> GREAT.

>> YOU'RE WELCOME. [OVERLAPPING] I WILL SAY THAT I HAD THE RARE OPPORTUNITY TO BE BOTH PATRICK O'ROURKE'S PREDECESSOR AND HIS SUCCESSOR, EACH OF WHICH HAD ITS OWN CHALLENGES.

>> [LAUGHTER] I'D JUST LIKE TO SAY THAT I HOPE DAN IS NOT RETIRING BECAUSE WE SURE AS HELL NEED HIM BACK HERE.

>> THAT'S THE PLAN DON.

>> DAN I WANT TO SAY THANK YOU EVEN IN THE SHORT TIME PERIOD YOU HAVE HELPED ME.

YOUR REAL CALM PRESENCE AND REALLY APPRECIATE ALL YOUR COUNSEL AND GUIDANCE YOU'VE GIVEN ME AS WELL.

>> VERY WELCOME.

>> THANK YOU DAN.

I APPRECIATE EVERYTHING AND WE GO BACK A LONG TIME AND I WAS SO PLEASED THAT YOU WERE ABLE TO JOIN US FOR THIS PERIOD OF TIME.

BUT GOOD LUCK TO YOU AND THANKS FOR EVERYTHING.

>> THANKS.

>> I'M PUTTING A STOP TO THIS, DAN.

>> FAIR ENOUGH.

>> WE'RE GOING TO MOVE ON. OUR NEXT ACTION ITEM IS FOR CHANCELLOR EMERITA DESIGNATION FOR DOROTHY HORRELL. REGENT KROLL?

>> GREAT. THANK YOU, GLEN. CAN YOU ALL HEAR ME? I SWITCHED OVER TO HEADPHONES.

FIRST AND FOREMOST, I'M HONORED TO HAVE THE OPPORTUNITY TO PRESENT THIS TO SOMEONE WHO HAS MEANT SO MUCH TO ME PERSONALLY.

YOU ALL KNOW THAT I'M A PROUD ALUM OF THE DENVER CAMPUS.

FOR MOST OF MY INVOLVEMENT WITH CU, THERE WERE TIMES WHEN DENVER WAS MAYBE CAST ADRIFT, AND TO HAVE DOROTHY'S LEADERSHIP COME IN AT A TIME OF GREAT UNREST AT THE UNIVERSITY AND REALLY RIGHT THE SHIP AND GIVE THE UNIVERSITY AN IDENTITY CERTAINLY MEANS A LOT TO ME AS ALUM DOUBLE-TIME, DOUBLE ALUM NOW AT THE UNIVERSITY.

SO WITH THAT, CHANCELLOR HORRELL, I WOULD LIKE TO OFFER THE FOLLOWING RESOLUTION FOR THE BOARD'S CONSIDERATION.

WHEREAS DOROTHY HORRELL SERVED WITH DISTINCTION AS THE CHANCELLOR FOR THE UNIVERSITY OF COLORADO, DENVER SINCE JANUARY 2016.

WHEREAS AFTER CHANCELLOR HORRELL BEGAN HER ROLE IN 2016, CU DENVER OPENED COMCAST MEDIA AND TECHNOLOGY CENTER, A COLLABORATION BETWEEN THE COLLEGE OF ENGINEERING, DESIGN, AND COMPUTING AND THE COLLEGE OF ARTS AND MEDIA, AND FUNDRAISING REACHED AN ALL-TIME HIGH OF NEARLY $19 MILLION.

WHEREAS IN 2017, THE SCHOOL OF EDUCATION AND HUMAN DEVELOPMENT AND THE COLLEGE OF LIBERAL ARTS AND SCIENCES LAUNCHED THINQSTUDIO AND NAMED ITS FIRST FACULTY FELLOWS.

THE SCHOOL OF PUBLIC AFFAIRS, MASTER OF CRIMINAL JUSTICE ONLINE PROGRAM RANKED 13TH NATIONALLY, AND IT WAS ONE OF THE TOP-THREE PROGRAMS IN THE WESTERN US.

CU DENVER CREATED THE OFFICE OF DIGITAL EDUCATION WITH CU ANSCHUTZ MEDICAL CAMPUS.

WHEREAS CHANCELLOR HORRELL CONTINUED TO OVERSEE SUCCESS AT CU DENVER IN 2018 WITH THE OPENING OF CITYCENTER AS THE CAMPUS' FRONT DOOR TO THE COMMUNITY, OPENED THE LOLA AND ROB SALAZAR STUDENT WELLNESS CENTER, RECEIVED CU DENVER'S LARGEST ESTATE GIFT EVER FOR THE COLLEGE OF ARCHITECTURE AND PLANNING, AND BROKE GROUND FOR THE JAKE JABS EVENTS CENTER.

WHEREAS IN 2019, UNDER CHANCELLOR HORRELL'S LEADERSHIP, CU DENVER GRADUATED THE LARGEST CLASS IN ITS HISTORY, FULLY IMPLEMENTED A NEW INCENTIVE-BASED BUDGET MODEL, COMPLETED RENOVATION OF CAMPUS VILLAGE, NOW CALLED LINKS CROSSING, LAUNCHED YOU AT CU DENVER TO SUPPORT STUDENT WELLNESS, AND NAMED ITS FIRST COHORT OF TIAA CHANCELLOR'S URBAN ENGAGED SCHOLARS.

WHEREAS CHANCELLOR HORRELL'S UNMATCHED FOCUS ON THE SUCCESS OF CU DENVER STUDENTS IS EVIDENT IN THE LAUNCHING OF THE UNPARALLELED STUDENT EXPERIENCE AND MAKING LINKS CONNECT A REALITY, AND IN INCREASING FINANCIAL AID FROM $8.9 MILLION IN 2016 TO 12.6 MILLION IN 2019; AN INCREASE OF MORE THAN 41 PERCENT.

WHEREAS CU DENVER BENEFITED FROM CHANCELLOR HORRELL'S FOCUSED COMMITMENT ON INNOVATION WITH AN ENTREPRENEURIAL SPIRIT AND FROM HER VISIONARY LEADERSHIP FOR THE POSSIBILITIES OF THE AURARIA CAMPUS, INDUSTRY PARTNERSHIPS, AND ITS WORLD RENOWNED PARTNER, CU ANSCHUTZ MEDICAL CAMPUS.

WHEREAS CHANCELLOR HORRELL'S LIFELONG COMMITMENT TO POST-SECONDARY EDUCATION AND THE BETTERMENT OF COLORADONS EXTENDS BEYOND CU DENVER TO HER LEADERSHIP OF RED ROCKS COMMUNITY COLLEGE AND THE COMMUNITY COLLEGES SYSTEM.

THE COLORADO STATE UNIVERSITY BOARD AND THE BONFILS-STANTON FOUNDATION, ALONG WITH SERVICE ON MULTIPLE BOARD AND

[03:05:02]

NON-PROFIT ORGANIZATIONS THROUGHOUT THE DENVER METROPOLITAN AREA.

WHEREAS CU IS GRATEFUL FOR CHANCELLOR HORRELL'S LEADERSHIP THROUGH AN UNPRECEDENTED AND HISTORIC GLOBAL PANDEMIC IN THE FINAL MONTHS OF HER CHANCELLORSHIP.

NOW THEREFORE, BE IT RESOLVED, THE BOARD OF REGENTS OF THE UNIVERSITY OF COLORADO THANKS CHANCELLOR DOROTHY HORRELL FOR HER SERVICE TO THE UNIVERSITY AND TO THE STATE UPON HER RETIREMENT IN 2020.

FURTHER RESOLVED THAT DOROTHY HORRELL BE GRANTED THE TITLE OF CHANCELLOR EMERITA OF THE UNIVERSITY OF COLORADO, DENVER.

>> THANK YOU, REGENT KROLL.

IS THERE A MOTION TO ADOPT THIS RESOLUTION?

>> [OVERLAPPING].

>> OH, MAN.

>> I'M FIRST.

>> EVERYBODY [INAUDIBLE] A MOTION.

>> [LAUGHTER] LET IRENE BE FIRST. SHE LIKES THAT.

>> IRENE IS FIRST. IRENE IS FIRST.

>> YOU HAVE TO BE FAST AROUND HERE.

>> IRENE WAS FIRST, SUE WAS SECOND.

>> YEAH, I'M SECOND. LET IRENE GO FIRST.

>> I JUST WANT TO NOTE THAT I HAD A HARD TIME SAYING THAT UNIVERSITY UP IN FORT COLLINS AS WE WERE READING THAT RESOLUTION.

I APPRECIATE YOUR SERVICE THERE, DOROTHY.

>> SO WE HAVE A FIRST AND A SECOND.

ALL THOSE IN FAVOR SAY, AYE.

>> AYE [OVERLAPPING].

>> THOSE OPPOSED SAY, NO.

>> CAN WE MAKE A COMMENT?

>> YEAH, ABSOLUTELY. I THOUGHT, DOROTHY, YOU MIGHT GET A COUPLE OF NO'S JUST SO YOU WOULDN'T.

[LAUGHTER] BUT IT DIDN'T HAPPEN. PLEASE MAKE YOUR COMMENT.

>> I WANT TO MAKE A COMMENT ABOUT DOROTHY.

I'VE KNOWN OF HER AND KNOWN HER FOR A LONG TIME.

SHE HAS BEEN AN ACTIVE MEMBER IN JEFFERSON COUNTY.

HER SERVICE IN RED ROCKS IS OUTSTANDING.

I CAN SPEAK ON BEHALF OF JEFFERSON COUNTY BECAUSE PEOPLE DEEPLY APPRECIATE HER AND HAVE REALLY HONORED HER THROUGHOUT HER LIFE.

SO HAVING HER AS OUR CHANCELLOR IS REALLY GOING TO GIFT.

BUT THERE ARE SOME THINGS THAT REALLY WERE OUTSTANDING ABOUT HER.

ONE OF THEM IS SHARED GOVERNANCE.

I'VE HEARD CONTINUOUSLY FROM STAFF AND FACULTY AT CU DENVER HOW MUCH THEY APPRECIATE HER LEADERSHIP AND IN BEING INCLUSIVE IN DECISION-MAKING, AND MAKING SURE THAT EVERYONE IS HEARD.

JUST THAT SHE WAS OUTSTANDING IN TERMS OF HER SHARED GOVERNANCE LEADERSHIP THAT SHE PROVIDED TO THE UNIVERSITY OF DENVER THAT HADN'T BEEN THERE BEFORE.

ALSO, I'VE SEEN HER IN ACTION AS A CHANCELLOR AND SHE HAS BEEN OUR CHAMPION ALSO ON THE AURARIA BOARD.

SHE HAS BEEN ARTICULATE, SHE'S PROVIDED LEADERSHIP TO THAT GROUP AND HAS REALLY BEEN A STAR, AND I REALLY APPRECIATE IT.

I'M REALLY GOING TO MISS HER.

SHE HAS JUST BEEN GREAT.

SHE'S STILL MY NEIGHBOR. SHE DOESN'T LIVE FAR FROM HERE.

I HOPE I RUN INTO HER IN KING SOOPERS.

BUT, DOROTHY, THANK YOU SO MUCH FOR EVERYTHING.

ON BEHALF OF THIS BOARD AND ON BEHALF OF JEFF CO, THANKS.

>> THANK YOU, IRENE.

>> JUMP IN.

>> I CAN JUMP IN. DOROTHY, THANK YOU SO MUCH.

SO MUCH HAS BEEN SAID AND I DON'T WANT TO REPEAT IT.

WHEN YOU FIRST STARTED, I REMEMBER GOING TO THE MEETINGS WHERE YOU WERE MEETING WITH ALL OF THE DIFFERENT SHARED GOVERNANCE GROUPS, [NOISE] AND THERE WERE SOME CONCERNS WHEN WE WERE IN THE PROCESS OF BRINGING IN A NEW CHANCELLOR.

IT JUST TOOK A MOMENT FOR EVERYONE TO REALIZE THAT WE HAD ABSOLUTELY THE RIGHT CHANCELLOR FOR CU DENVER.

YOU'VE LED THE WAY WITH SUCH INTEGRITY AND WARMTH AND CARING.

SO ONE THING I'VE OBSERVED IS THAT YOU'RE GOING TO LEAVE HERE AND BE REMEMBERED AS A VERY BELOVED CHANCELLOR OF CU DENVER, AND THAT'S A LEGACY.

WELL, PEOPLE, YOUR STUDENTS, YOUR FACULTY ADORE YOU.

THANK YOU FOR EVERYTHING THAT YOU'VE DONE FOR CU DENVER.

>> THANK YOU, SUE.

>> ANYONE ELSE?

>> GLEN, THIS IS LEONARD. I JUST WANT TO CERTAINLY SAY THANK YOU TO CHANCELLOR HORRELL.

BUT I SEE OVER HER RIGHT SHOULDER HER OTHER HALF.

I DIDN'T SAY BETTER, OR LESS HALF, BUT TED HAS BEEN WONDERFUL FOR MYSELF AND MY FAMILY TO MEET HIM AND DOROTHY AND SPEND TIME WITH THEM.

WHAT A WONDERFUL COUPLE THEY ARE ON BEHALF OF THE UNIVERSITY.

BUT DOROTHY, I'VE KNOWN YOU FOR MANY YEARS AND I'VE GOTTEN TO KNOW TED, AND IT'S BEEN A PLEASURE AND AN HONOR THE SERVICE THAT YOU PROVIDED FOR THE UNIVERSITY AND TO THE STATE OF COLORADO. SO THANK YOU FOR EVERYTHING.

>> THANK YOU, LEONARD.

>> I'D LOVE TO SAY TOO, DOROTHY.

I CANNOT LET YOU GET OFF THE HOOK AND THEN I'LL LET YOU HIDE MY FAVORITE HUSBAND OVER THERE,

[03:10:01]

I CAN SAY YOU'RE SO FANTASTIC.

I HAVE JUST BEEN INCREDIBLY GRATEFUL FOR THE SUPPORT THAT YOU HAVE PROVIDED OUR GOVERNMENT AFFAIRS TEAM.

JUST THE STRATEGIC PARTNERSHIP TRIANGLING WITH THE DENVER METRO CHAMBER ON ISSUES, WORKING WITH US VERY CLOSELY ON WHAT WE CAN GET OUT ON AND HOW WE CAN BETTER SERVE THEM, HOW WE SERVE OURSELVES, THE WORK WE'VE DONE WITH OUR FACULTY AND STUDENTS, AND JUST YOUR GRACIOUSNESS WITH OUR ENTIRE DELEGATION FROM DENVER ON BOTH THE STATE AND FEDERAL SIDE.

I JUST THINK YOU'RE SUPER AS A MENTOR AND WOMAN LEADER TO ME.

I AM JUST DEEPLY GRATEFUL FOR WHAT YOU HAVE DONE FOR NOT JUST CU DENVER, BUT FOR THE UNIVERSITY OF COLORADO.

SO THANK YOU FOR EVERYTHING.

TED, THANK YOU.

BECAUSE I THINK IN THESE ROLES THE SPOUSES PLAY, AS WE ALL KNOW, EVERYONE ON THIS CALL IS COMPLETELY APPRECIATIVE OF A CRITICAL PARAMOUNT ROLE.

I'M SO EXCITED FOR YOUR NEW GRAND BABY, AND AS YOU RIDE OFF INTO THE SUNSET AND ENJOY YOUR LIVES.

CONGRATULATIONS. [NOISE]

>> THANK YOU, TANYA.

>> DOROTHY, I'VE KNOWN YOU FOR QUITE A WHILE, IT TURNS OUT.

I DON'T KNOW IF WE MET WHEN I WAS IN MIDDLE SCHOOL OR HIGH SCHOOL, BUT IT WAS QUITE A WHILE AGO.

IT'S BEEN A PLEASURE GETTING TO KNOW YOU IN THIS ROLE AS COLLEAGUES.

YOU HAVE BROUGHT JUST INCREDIBLE COMMITMENT AND PASSION TO CU DENVER, AND HAVE TRANSFORMED THAT CAMPUS.

I THINK YOU'VE STAYED LONGER THAN YOU WERE PLANNING TO STAY BECAUSE OF THAT COMMITMENT AND PASSION, SO WE'RE VERY, VERY GRATEFUL.

ALL THE WAY FROM THE WELLNESS CENTER TO THE ADMINISTRATIVE BUILDING OR WHAT'S IT CALLED, I CAN'T EVEN REMEMBER [INAUDIBLE].

IT'S JUST AN INCREDIBLE THING WHAT YOU'VE ACCOMPLISHED AT CU DENVER AND YOU'RE LEAVING QUITE A LEGACY.

I ALSO JUST REALLY APPRECIATE YOUR PARTNERSHIP ON THE BUDGET AND ON LEGISLATIVE ISSUES LIKE PLANNING WE JUST TALKING ABOUT.

WHEN THINGS THERE ARE MOVING QUICKLY, DOROTHY IS ALWAYS QUICK TO HELP US FIGURE THINGS OUT AND TO HELP GUIDE YOUR WAY, AND SO WE'RE VERY, VERY GRATEFUL.

WE THANK YOU FOR YOUR THANKS, YOU'RE ALWAYS VERY NICE ABOUT THINKING OF THE PEOPLE WHO HAVE WORKED HARD FOR YOU AND FOLKS NOTICED IT AND THEY APPRECIATE IT.

WE'LL MISS SEEING YOU AROUND US MUCH, AND WE'LL MISS SEEING TED.

WE KNOW THAT MAYBE WE CAN GET YOU TO SEGWAY ALONG FROM TIME TO TIME, BUT I REALLY HOPE THAT BOTH OF YOU ENJOY YOUR RETIREMENT. YOU'VE EARNED IT.

>> THANK YOU, TODD.

>> I JUST WANT TO SAY, WORKING WITH YOU HAS BEEN A GREAT PLEASURE OVER THE LAST TWO YEARS.

YOU HAVE A VERY UNCANNY WAY OF MAKING PEOPLE FEEL SPECIAL, I'VE ALWAYS BEEN IMPRESSED THAT THAT.

I'M STILL INSPIRING, BEEN WORKING HARD TO DO THAT, SO YOU CAN COACH ME AFTERWARDS.

BUT REALLY, YOU MAKE PEOPLE FEEL LIKE HEROES AND THAT HAS ALWAYS IMPRESSED ME.

YOU'RE ALSO A WONDERFUL FRIEND AND APPRECIATE YOUR FRIENDSHIP OUTSIDE OF WORK AS WELL.

WE'LL MISS SEEING BOTH YOU AND [INAUDIBLE] AT DIFFERENT EVENTS.

I HOPE YOU HAVEN'T REACHED RETIREMENT AND REALLY WISH YOU NOTHING BUT THE BEST, SO THANKS FOR EVERYTHING.

>> THANK YOU, VENKAT.

>> I'LL BE VERY BRIEFLY, YOU'VE BEEN A WONDERFUL COLLEAGUE AND [NOISE] ME GETTING TO KNOW YOU.

AS YOU'RE LEAVING, I'M HAPPY WITH BOTH YOU AND TED AND NOW YOU'VE BECOME WONDERFUL FRIENDS WITH US, SO THAT'S MUCH MORE IMPORTANT THAN ANYTHING IN MY MIND.

SO THANK YOU SO MUCH FOR YOUR FRIENDSHIP AND YOUR SUPPORT.

>>THANKS, [INAUDIBLE].

>> I CAN ONLY ECHO WHAT MY COLLEAGUES HAVE SAID.

ALTHOUGH, IN ADDITION TO BEING A FRIEND, YOU'VE BEEN A GREAT PARTNER FOR ME.

WE'VE HAD A LOT OF LAUGHS, WE'VE HAD A FEW GROANS, BUT IT'S BEEN A LOT OF FUN, IT'S BEEN A GREAT RIDE AND I ABSOLUTELY WISH YOU THE BEST.

YOU'VE DONE A PHENOMENAL JOB.

>> THANK YOU, DON.

>> HEY, DOROTHY.

>> [OVERLAPPING] DOROTHY, YOU GOT US SOME GREAT NEW BUILDINGS AND YOU RESTORED A LOT OF PRIDE IN THE CAMPUS.

YOU RECLAIM, SEE YOU IN A CITY.

BUT WHAT HAVE YOU DONE FOR US LATELY, REALLY? DOROTHY, IT'S BEEN GREAT WORKING WITH YOU AND I THINK IF I HAD ONE THING TO SAY ABOUT YOU,

[03:15:03]

I WOULD SAY YOU ARE CLASS ACT.

>> THANKS.

>> HERE, HERE.

>> DOROTHY, I REMEMBER STILL THE FIRST TIME I MET YOU, I WAS A CANDIDATE AND I WAS UP IN YOUR OFFICE LOOKING OUT AT THAT BEAUTIFUL VIEW AND THEN ALL OF THE SUDDEN A HORRIFIC SNOW STORM CAME IN.

BUT YOU STILL IMPRESSED ME AS OBVIOUSLY A VERY SPECIAL PERSON WHO VERY MUCH LOVES THE DENVER CAMPUS, BUT JUST EDUCATING STUDENTS, AND WE SHARE THAT LOVE OF HIGHER ED.

THEN BEING TOGETHER IN WASHINGTON LAST YEAR, IT'S JUST BEEN REALLY GREAT TO GET TO KNOW YOU AND THAT INITIAL REALIZATION ABOUT HOW SPECIAL YOU ARE JUST GREW AND GREW.

I WISH THE YEAR HAD NOT ENDED THE WAY IT DID, THE GRADUATION IS ALWAYS SUCH A SPECIAL TIME FOR YOU.

BUT THANK YOU FOR ALL YOUR SERVICE AND I WISH BOTH OF YOU THE BEST.

AT ONE POINT, YOU'LL BE ABLE TO GO TO TEXAS AND SEE THAT LITTLE GRANDBABY OF YOURS.

>> THANK YOU, LESLEY.

>> DOROTHY, THANK YOU SO MUCH FOR ALL YOUR CONTRIBUTIONS TO THE ENTIRE SYSTEM AND TO THE STATE OF COLORADO.

YOU ARE BELOVED IN SO MANY PLACES, AND OUR GROUP OF CHANCELLORS HAS BEEN SO NECESSARY FOR US DURING THESE DIFFICULT TIMES THAT WE'VE GONE THROUGH FOR THE LAST FEW YEARS.

YOU'VE BEEN INSTRUMENTAL IN HOLDING US ALTOGETHER AND I ADMIRE YOU SO MUCH. SO, THANK YOU.

>> THANKS, LINDA.

>> WELL, JUST A COUPLE OF QUICK OBSERVATIONS.

I SEE TED STANDING BEHIND YOU AND HE LOOKS PRETTY WORRIED BECAUSE HE DOESN'T KNOW WHAT HE'S GOING DO NOW THAT YOU'RE HOME EVERY DAY.

[LAUGHTER].

THAT'S JUST A QUICK OBSERVATION.

>> KNOWING TED, HE'S GOING TO LOVE HAVING HER HOME.

[OVERLAPPING], [LAUGHTER]

>> I REMEMBER WHEN BRUCE BROUGHT YOU TO COLORADO SPRINGS TO INTRODUCE YOU AND I LOOKED AT YOUR RESUME AND I SAID, "A HOME EC DEGREE, YOU GOT TO BE KIDDING ME, RIGHT? TELL ME HOW THIS IS IMPORTANT." THEN YOU DID, YOU TOLD US HOW IT WAS IMPORTANT AND I'LL ALWAYS REMEMBER THAT.

BUT THE OTHER THING IS, I THINK WHAT I WILL REMEMBER IS YOUR COMMITMENT TO EDUCATION AND TO ALL STUDENTS.

I MEAN, THERE WAS NEVER A DOUBT WHEN YOU WEREN'T ON THEIR SIDE TO TRY TO MAKE THINGS BETTER.

SO THANK YOU AGAIN, DOROTHY, I THINK IT'S BEEN WONDERFUL FOR US TO HAVE HAD YOU THERE.

I'M SORRY IT'S OVER WITH ACTUALLY, YOU SHOULD'VE BEEN AROUND A LITTLE BIT LONGER.

>> THANKS SO MUCH, GLEN.

COULD I TAKE A COUPLE OF MINUTES TO JUST [OVERLAPPING] HAVE A FEW COMMENTS.

FIRST OF ALL, THANKS SO MUCH TO ALL OF YOU FOR ACKNOWLEDGING TED BECAUSE NONE OF US GET THROUGH ANY OF THIS ALONE, AND HE HAS BEEN A PHENOMENAL PARTNER IN 40 YEARS.

THAT'S A PRETTY GOOD RECORD IN AND OF ITSELF.

AMAZING THAT I DIDN'T HAVE TO STICK AROUND FOR 30 PLUS YEARS IN ORDER TO GET A MARITAL STATUS.

CONGRATULATIONS TO YOU DAN AND THANK YOU, AND TO PAT ON AS WELL.

BOTH OF YOU HAVE JUST BEEN SO INCREDIBLE.

FIRST, LET ME SAY THANK YOU TO THE BOARD OF REGENTS FOR YOUR BELIEF IN ME AND YOUR SUPPORT FOR CU DENVER.

I HAVE TALKED ABOUT IT THAT WHEN I FIRST ARRIVED AND IN FACT, I JUST TAPED EARLIER IN THE WEEK, A FAREWELL MESSAGE TO THE CAMPUS AND I SAID, IT WAS LIKE AN ARRANGED MARRIAGE WHEN I FIRST ARRIVED BECAUSE THEY DIDN'T KNOW ME, DIDN'T KNOW WHAT TO EXPECT AND FRANKLY, THE CASE ON MY END AS WELL, BUT IT HAS BECOME AN AFFAIR OF THE HEART.

I BELIEVE PASSIONATELY IN THAT PLACE AND I THANK YOU SO MUCH FOR YOUR SUPPORT AND YOUR BELIEF IN IT AS WELL.

I THINK CU DENVER MATTERS MORE THAN EVER.

I ALSO WANT TO THANK PRESIDENT KENNEDY.

MARK, IT'S BEEN A SPIRITED RELATIONSHIP THAT WE HAVE HAD AND I KNOW THAT YOU'RE GOING TO CONTINUE TO LEAD THE WAY FOR THE SYSTEM AND FOR CU DENVER, AS CRITICAL PART OF IT.

I ALSO WANT TO SAY TO THE SYSTEM STAFF, THANK YOU FOR ALL THAT YOU DO EVERY SINGLE DAY,

[03:20:04]

AND FOR MAKING ME FEEL SO WELCOME EVERY TIME THAT I CAME TO 1,800 GRANT AND I CHERISH YOU AS COLLEAGUES AND MORE IMPORTANTLY AS FRIENDS.

I'LL NOT FORGET YOU AND I SO APPRECIATE EVERYBODY THAT I'VE COME IN CONTACT THERE AT THE SYSTEM OFFICE.

TO THE OTHER THREE CHANCELLORS, YOU HAVE BECOME CHERISHED FRIENDS AS WELL.

WE'VE HAD LOTS OF REALLY IMPORTANT TIMES TOGETHER AND SOME FUN TIMES, AND SOME CHALLENGING TIMES AS WELL.

BUT I HAVE SUCH REGARD FOR YOU AND HAVE JUST SO MUCH APPRECIATED YOUR SUPPORT AND LEARNING FROM YOU ALONG THE WAY.

OF COURSE, TO CU DENVER ITSELF, AND TO OUR FACULTY, OUR STAFF, OUR STUDENTS, AND ALUMS AND THE LEADERSHIP TEAM THERE.

IT'S A VERY SPECIAL PLACE AND PEOPLE OVER THE YEARS HAVE GIVEN THEIR HEARTS AND THEIR SOULS TO THAT PLACE, AND IT'S BECAUSE THEY BELIEVE IN THE WORK THAT THEY ARE DOING.

I THINK THAT WHAT SEVERAL PEOPLE TOLD ME WHEN I FIRST CAME IS, "I COULD HELP CU DENVER CLAIM ITS IDENTITY AND IT'S PLACE IN THE VERY CROWDED EDUCATIONAL LANDSCAPE." THAT THAT WOULD BE A GIFT TO THAT PLACE AND HOPEFULLY THAT HAS HAPPENED AND IT CAN CARRY ON.

I AM SO DELIGHTED WITH THE SELECTION OF MICHELLE MARKS AS THE NEXT CHANCELLOR.

SHE IS GOING TO BE INCREDIBLE AND SHE AND I HAVE SPENT A LOT OF TIME TOGETHER AND I JUST FEEL LIKE THE FUTURE IS VERY BRIGHT, THE BEST IS YET TO COME FOR CU DENVER.

BUT THAT WOULDN'T BE POSSIBLE WITHOUT EACH AND EVERY ONE OF YOU, I JUST WISH YOU MUCH CONTINUED SUCCESS, AS I SAY, I'M GOING TO MOVE OFF THE PLAYING FIELD AND I'LL BE ON THE SIDELINES AND I'LL BE AT A GREAT CHAMPION.

[NOISE] THANK YOU AGAIN TO ALL OF YOU IN THIS DESIGNATION, IT MEANS A GREAT DEAL TO ME, AND MY VERY BEST TO ALL OF YOU.

>> THANK YOU, DOROTHY, VERY MUCH.

THE RECORD SHOW THAT THE LAST TWO AGENDA ITEMS THE BOARD AGREED WHOLE HEARTEDLY ON.

>> THEY MAY HAVE AND THE ONLY THINGS WE AGREED ON, BUT THE LAST TWO WERE WHOLE HEARTEDLY AGREED ON.

WITH THAT, WE COME TO OUR LAST AGENDA ITEM AND THAT IS TO ELECT A CHAIR AND A VICE CHAIR, AND I'M GOING TO TURN THAT OVER TO IRENE, AND TO DAN WILKERSON, AND EFFIE.

>> DAN, I WASN'T EXPECTING TO DO THIS, SO DO YOU WANT TO DO IT? DAN.

>> I WOULD BE HAPPY TO DO THAT.

[OVERLAPPING] AS THE SECRETARY OF THE BOARD, I WOULD SAY THAT THIS IS AN ANNUAL PROCESS AND WITHOUT BELABORING IT, WE'LL OPEN THE FLOOR FOR NOMINATIONS FOR THE CHAIR.

>> I WOULD LIKE TO MAKE IT A NOMINATION.

I AM PREPARED TO DO THAT. OKAY?

>> BRING IT.

>> I WOULD LIKE TO NOMINATE CHAIR GLEN GALLEGOS.

THIS HAS BEEN A VERY LONG, DIFFICULT YEAR.

I'VE BEEN ABLE TO WORK AS HIS VICE CHAIR AND I'VE SEEN HIM GROW, I'VE SEEN HIM CHANGE, I'VE SEEN HIM EMBRACE COLLABORATION AND HE HAS TAKEN ON THIS BEING A CHAIR LIKE ANOTHER JOB.

IN FACT, IT'S BECOME, I'M SURE, ANOTHER JOB FOR HIM.

I REALLY RESPECT HIS INTEGRITY AND HIS DEDICATION TO DOING THIS WORK.

DURING THE TIME LIKE WE ARE TODAY WHEN WE HAVE SO MANY CHALLENGES THAT ARE OUT THERE THAT ARE SO DIFFICULT, I THINK IT IS CRITICAL DURING THIS TIME THAT WE MAINTAIN OUR LEADERSHIP IN THE BORDER REGIONS SO THAT WE CAN MOVE FORWARD.

WE'RE TAKING ON A NEW SECRETARY THEN WE WORKING WITH US, AND GLEN HAS TAKEN THE TIME TO ACKNOWLEDGE AND GET TO KNOW AND UNDERSTAND HOW TO WORK WITH OUR SYSTEM, AS WELL AS UNIVERSITY OVERALL.

SO MY NOMINATION IS FOR GLEN GALLEGOS TO BE OUR CHAIR FOR THIS NEXT YEAR.

>> ARE THERE OTHER NOMINATIONS?

[03:25:06]

AS I MENTIONED IN MY MEMO THAT I SENT OUT TO YOU IN ADVANCE TO THE MEETING, IF THERE IS ONLY ONE NOMINEE FOR A POSITION, HEARING NO OTHER NOMINATIONS, THAT PERSON IS ELECTED BY ACCLIMATION AND THE RECORD WILL ALSO REFLECT.

>> GLEN, I'M GOING TO PRAY FOR YOU BUDDY.

GOOD LUCK. [LAUGHTER]

>> I CAN USE ALL THE PRAYERS THAT YOU HAVE JACK.

>> HEARING NO OTHER NOMINATIONS, CHAIR GALLEGOS IS RE-ELECTED TO THE POSITION FOR ANOTHER YEAR BY ACCLIMATION AND I WILL TURN IT BACK OVER TO THE CHAIRMAN TO ADDRESS THE VICE CHAIR ELECTION.

>> WE ARE GOING TO ELECT A VICE CHAIR AND I WOULD OPEN THE FLOOR FOR NOMINATIONS FOR VICE CHAIR.

>> I'D LIKE TO NOMINATE LESLEY SMITH.

YEAH, AND IT'S MY UNDERSTANDING THAT IRENE IS NOT INTERESTED IN DOING THIS [LAUGHTER] DESPITE THAT FACT THAT SHE TALKED YOU INTO DOING IT AGAIN.

>> NO, I NEED TO MOVE ON.

>> SHE'S GOING OFF THE BOARD AS I AM.

I REALLY HAVE BEEN SO IMPRESSED WITH LESLEY OVER THE SHORT TIME SHE'S BEEN ON THE BOARD.

SHE'S THE ONLY DEMOCRAT WHO HASN'T SERVED IN THE VICE CHAIR ROLE, AND I THINK WE WOULD ALL BE WELL-SERVED AND WE'LL BE HAPPY WITH LESLEY AS OUR VICE CHAIR.

>> ARE THERE ANY OTHER NOMINATIONS FOR VICE CHAIR? HEARING NONE, I WOULD SAY THAT AS DAN DID, THAT SHE WOULD BE NOMINATED BY ACCLAMATION, SO AT THIS POINT, CONGRATULATIONS LESLEY.

>> YES, AND LESLEY, I'M GOING TO PRAY FOR YOU TOO, SO GOOD LUCK, YOU GOT THIS, YOU'LL BE GREAT.

>> GOOD JOB YOU GUYS.

>> I'D LIKE TO GIVE YOU THE SAME ADVICE I GAVE GLEN, AND I GIVE IT TO BOTH OF YOU IS YOU CAN'T TAKE ANYTHING PERSONALLY AS YOU MOVE THROUGH YOUR DOING YOUR WORK. THANK YOU.

>> THANK YOU. I JUST WANT TO SAY I'M GOING TO HAVE SOME AWFULLY BIG SHOES TO FILL, AND I THINK GLEN AND I WORKING TOGETHER NEXT YEAR IS GOING TO BE A CHALLENGE JUST FROM THE STANDPOINT OF THREE BRAND NEW BOARD MEMBERS.

SO IT'S GOING TO BE HARD TO SEE IRENE AND LINDA AND JOHN ALL GO.

>> I WOULD AGREE.

I WOULD CONGRATULATE YOU, LESLEY, AND I THINK THAT WE'LL BUILD A GOOD TEAM, AND I THINK THAT FAIRNESS AND REPRESENTATION OF THIS ENTIRE BOARD IS IMPORTANT.

I THINK THAT'S WHAT WE'VE TRIED TO DO DURING THIS LAST YEAR.

IT'S NOT ALWAYS EASY, BUT I KNOW ONE THING IS THAT THE COMMITMENT THAT PEOPLE ON THIS BOARD HAVE, THEY CARE.

WE DON'T ALWAYS AGREE, BUT I THINK IT'S FOR ALL THE RIGHT REASONS THAT ARE REGENTS AND FOR THE THINGS THAT THEY DO, SO I THINK WE CAN TIE INTO THAT.

I'M ALSO LOOKING FORWARD TO WORKING WITH MARK KENNEDY ANOTHER YEAR AND WITH JOSE PEDEA COMING IN.

I THINK THAT WE CAN PUT TOGETHER SOME GOOD THINGS, BUT IT ISN'T ABOUT LESLEY AND I, IT'S ABOUT THIS BOARD OF REGENTS AND UNIVERSITY.

SO WE HOPE THAT YOU'LL HELP US AS MUCH AS YOU POSSIBLY CAN WITH THAT.

LAST THING I WOULD SAY IS, IRENE, WE WORKED WELL TOGETHER, I APPRECIATED YOUR GUIDANCE AND THE TIMES WHEN YOU COULD TALK TO JACK AND MAKE SURE THAT HE WAS ON BOARD FOR SOMETHING THAT WAS HARD TO DO.

BUT I THINK THAT WE WORKED WELL TOGETHER AND MOVE SOME THINGS FORWARD.

IT'S BEEN A TOUGH YEAR AND NOT FOR THE CHAIR, FOR THE UNIVERSITY OF COLORADO, FOR MARK AND FOR EVERYONE, AND I THINK THAT WE'RE STRONGER AS A RESULT OF IT.

SO I APPRECIATE THE SUPPORT, AND WE'LL DO THE BEST THAT WE CAN.

THANKS. UNLESS THERE'S OTHER ITEMS OR ISSUES, THIS MEETING IS ADJOURNED.

THANKS FOR EVERYONE'S TIME.

>> HI EVERYBODY.

>> THANK YOU ALL.