Minutes of the Meeting of August 16, 2013
The August 16, 2013 meeting of the Texas Woman’s University Board of Regents was called to order at the appointed time and place by Mrs. Sue Bancroft, Board Chair and Presiding Officer. Present were Mrs. Bancroft, Ms. Joleesia Berry, Mrs. Lola Chriss, Ms. Anna Maria Farias, Mrs. Debbie Gibson, Dr. Ann Scanlon McGinity, Mrs. Nancy Paup, Mr. George Schrader, and Mrs. Mary Wilson, constituting a quorum.
There was no executive session.
The Board considered approval of the minutes of the Board meeting of June 7, 2013 and of the teleconference of June 18, 2013. Upon motion by Ms. Farias and second by Mrs. Paup, these minutes were unanimously approved.
Mrs. Bancroft noted that no registrations of public testimony items were received for this Board meeting.
Mrs. Bancroft then called for the Finance and Audit Committee items. Ms. Farias made a motion for approval of the personnel report (Exhibit 2226), the acceptance of grants (Exhibit 2227), and the contracts and agreements (Exhibit 2228). The motion was seconded by Dr. Scanlon McGinity and all voted in favor. A motion was made by Ms. Farias for approval of the FY 2014 Budget as presented to the Finance and Audit Committee of the Board of Regents on Friday, August 9, 2013 (Exhibit 2229), which was seconded by Mrs. Gibson and unanimously approved. A motion was made by Dr. Scanlon McGinity, seconded by Mrs. Wilson, and all voted in favor, for approval to distribute an amount equal four percent of the University Endowment Corpus, which is approximately $435,249 to the TWU Endowment Distribution Accounts, this money to come from investment earnings and/or from Board Designated Tuition. After motion by Dr. Scanlon McGinity and second by Mrs. Chriss, the Board voted unanimously for approval of the TWU Investment Policy (Exhibit 2230). Ms. Farias made a motion for approval of the TWU Endowment Investment and Distribution Policy, which motion was seconded by Dr. Scanlon McGinity and unanimously approved (Exhibit 2231). Mrs. Wilson made a motion for approval of the Tax-Exempt Financing Compliance Policy (Exhibit 2232). The motion was seconded by Ms. Farias and all voted in favor. After motion by Ms. Farias and second by Mrs. Chriss, the Board voted unanimously for approval to extend the contract with Luther King Capital Management for one additional year for the management of the University endowment investments until August 31, 2014. A motion was made by Dr. Scanlon McGinity, seconded by Mrs. Wilson, and all voted in favor, for approval to extend the contract with Vaughan Nelson Investment Management for one additional year for the management of the University investments until August 31, 2014. Ms. Farias made a motion for approval of the extension of the General Land Office contract for natural gas for two additional years until August 31, 2015. The motion was seconded by Dr. Scanlon McGinity and unanimously approved. Dr. Scanlon McGinity made a motion, seconded by Ms. Farias, for approval of the FY 2014 Annual Audit Plan of the Office of Internal Audits (Exhibit 2233). All voted in favor.
Mrs. Bancroft called for consideration of the Institutional Development Committee items. After motion by Dr. Scanlon McGinity and second by Mrs. Gibson, the Board voted unanimously for acceptance of gifts to TWU (Exhibit 2234).
In the report from the Chancellor and President, Dr. Ann Stuart commented on the theme of today’s meeting, hoping that the Regents, as part of this Board, feel proud of TWU and the accomplishments of its faculty and students presented earlier during the Committee meetings by Dr. Bob Neely, Provost and Vice President for Academic Affairs, and Dr. Richard Nicholas, Vice President for Student Life. With regard to the opening of school, Dr. Stuart noted that the Fall Assembly for faculty and staff will be held on Monday, August 19. She said that the Assembly is hosted by the Provost’s Office and the Faculty Senate and that Board Chair Bancroft will also join the Assembly.
Regarding the new honor society in the Leadership Institute, Dr. Stuart called upon Maj. General Mary Saunders (Ret.), who is the Director of the Institute. Maj. General Saunders distributed a brochure entitled, Omicron Delta Kappa – The National Leadership Honor Society and stated that this Honor Society is one of the oldest in the United States but is a first at TWU. She gave a brief presentation about the Honor Society and pointed out that the Honor Society looks for students who excel in leadership and character and helps them develop both as members of the University community and as members of the community. Mrs. Bancroft thanked Maj. General Saunders for her presentation.
Next, Dr. Stuart recognized Mr. John Lawhon, General Counsel and Secretary to the Board, and congratulated him on his retirement. She said that he served under four presidents and chancellors during his time at TWU and that Mr. Lawhon kept the University in compliance and that his strength regarding legal issues kept the University out of litigation. Dr. Stuart commented that she appreciated Mr. Lawhon’s preventive maintenance, which was valuable to her and to many others on Campus, including the Board of Regents. She then presented him with a gift, which was a mesquite wood box with turquoise inlays. Dr. Stuart noted that she found a wood maker in Bastrop, Texas that makes these boxes and started a tradition a decade ago, starting with the centennial year, of giving each outgoing Regent a box. She said that legislators are given these boxes as well, adding that, as she visits legislators, she is very proud that they display these boxes in their offices. Mr. Lawhon thanked Dr. Stuart and each of the Regents for their support and said that his favorite part of being at the University was working with the Regents. Mrs. Bancroft noted that Mr. Lawhon is a treasure for the University; that he is well-known in Austin and is a legend in Denton County, serving as its prosecutor in the past. She said it was a pleasure to work with him.
Mrs. Bancroft then recognized Regent Schrader and announced that The Senior Source will present Mr. Schrader with the 2013 Spirit of Generations Award. She congratulated him and said that the Board was very proud of him since this award had only been presented to past mayors.
As she brought the meeting to a close, Mrs. Bancroft thanked everyone for being at today’s meeting. There being no other business, the meeting concluded.
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