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Finance and Audit Committee and Board of Regents (Joint Meeting)
Minutes of the Meeting of May 23, 2008

The Finance and Audit Committee of the Texas Woman’s University Board of Regents met on May 23, 2008 at 11:00 a.m. at the TWU Parkland Campus. A quorum of the Board and a quorum of the Committee were present. The Board and Committee meetings were called to order.

The Regents first heard a report from Vaughan, Nelson, Scarborough & McCullough with regard to Texas Woman’s University investments. This was followed by a report from Hester Capital Management on endowment funds.

A motion was made by Regent Sharon Venable to approve up to $125,000 from the Pledged Auxiliary Reserve Fund Balance for the purchase of golf carts for the TWU Golf Course, which was seconded by Regent Mike McCullough and unanimously approved by the Board.

Motion was made by Regent McCullough to approve up to $60,000 from the Pledged Auxiliary Reserve Fund Balance for repairs to the new Grove Street property for conversion to student housing, which was seconded by Regent Lou Rodenberger and unanimously approved by the Board.

Thereupon, the Board and Committee heard an FY 2009 budget overview and a report on the activities of the Office of Finance and Administration.

There being no further business, the meeting was adjourned.  

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